Hello,

Guest!

Personal Loan without Salary Slip

Banks and all other financial institutions usually require borrowers to provide income proof like salary slips, income tax returns, bank statements, employer affidavit, Form 16, etc. to show that they have funds enough to arrange for loan repayment. Lenders verify the borrower’s monthly income flow and the income sources as claimed.

However, applicants can get an instant personal loan without salary slip now as their bank statements usually have information about their salary credits and that is a suitable income proof. 

Few financial institutions may consider giving a personal loan without proof of income, based on the customer’s relationship and past credit behaviour. If you have a good relationship with the lender based on your loan payments and clear credit history, then the lender may offer you a personal loan based on the information already available with them.

Updated:

Eligibility Criteria For Instant Personal Loans without Salary Slip

Following are the personal loan eligibility criteria  without salary slip:

For Salaried Individuals

  • Applicants should be aged between 21 and 55 years.
  • The monthly income should be credited directly to the bank account of the applicant.
  • The minimum in-hand income should be Rs. 25,000 per month.
  • The minimum credit score should be 700 and above.

For Self-Employed Individuals

  • Applicants should have a minimum annual income of Rs. 2 Lakhs as per ITR.
  • Income should be directly credited to the bank account of the applicant.
  • A minimum CIBIL score of 700 or more is required.
  • Applicants must be aged between the ages of 23 and 60 years.

Documents Required for Personal Loan without Salary Slip

For Salaried Individuals

  • Proof of identity - any one of the following documents:
    • PAN Card 
    • Aadhaar Card
    • Passport
    • Voter ID
    • Driver’s License
  • Proof of residence - any one of the following documents:
    • PAN Card
    • Aadhaar Card
    • Passport
    • Voter ID
    • Driver’s License
    • Utility Bills (such as Electricity, Water, or Gas) not older than the last 60 days.
  • Proof of income: Bank statements in PDF format of the last 3 months of salary account showing salary credits.

For Self-Employed Individuals

  • Proof of identity - any one of the following documents:
    • PAN Card
    • Aadhaar Card
    • Passport
    • Voter ID
    • Driver’s License
  • Proof of residence - any one of the following documents:
    • PAN Card
    • Aadhaar Card
    • Indian Passport
    • Voter ID
    • Driver’s License
    • Utility Bills (such as Electricity, Water, or Gas) not older than the last 60 days.
  • Proof of income: Bank statements of the last 3 months in PDF format.

How to Get a Personal Loan without PAN Card?

As per the guidelines of financial lenders, it is necessary for applicants to submit their PAN card when applying for a personal loan because it is mandatory by the tax laws. However, it is stll possible to get a personal loan without submitting the PAN card if the personal loan amount is below Rs. 50,000. However, many financial lenders insist on submitting the PAN card. If the applicant has misplaced their PAN card at the time of personal loan application, the PAN card number will suffice.

Additional Info: Get Instant personal loan with low cibil score.

Loan App without Salary Slip

There are some personal loan apps that offer personal loans without salary slips. All you need as an income proof is bank statements showing salary credits. Here are the name of such apps:

Check, Best Instant Loan Apps without Salary Slip

Navi Personal Loan @9.99% p.a

Now get Navi personal loan of Rs. 10,000 to Rs. 20 Lakhs at lowest interest rate starting from just 9.99% per annum. Repay in easy instalments of 3 to 72 months. The processing fee ranges from 2.5% to 6% of the sanctioned limit + GST.

View and improve your credit score - for free.

Know how good your score is

Get insights on how to improve it

Unlock offers as per your score

chart_15f235bf64 (1).svg

Personal Loan without Salary Slip

How to get a personal loan without salary account/slips or income tax returns certificate?

image

You can get a personal loan without salary account/slips or ITR certificate. If the applicant does not have a regular income proof document such as salary slips and ITR, they can alternate income proof to prove to the lender that the loan repayment. Following are a few ways to get over this hurdle:

  • Submit Form 16
  • Submit alternative income sources, such as income from business endeavors, house rent income, bank balance, your spouse’s or parent’s income, etc. You can also get an instant loan on aadhar card without salary.
  • Submit collateral or security if you have any, such as gold, property, shares, mutual funds, fixed deposits, etc.
  • Utilize your long-standing relationship with the bank.
  • Apply with a co-applicant who has a regular income source and good credit score.

How can I get an instant loan without a salary slip?

image

You can get an urgent cash loan without salary slip from apps like Money View, PaySense, KreditBee, Indiabulls Dhani, Navi, etc. Visit the website or download the app of the lender, check your personal loan eligibility, apply for the preferred loan amount and submit the required documents such as identity proof, address proof, and bank statements having details of your salary credits. Once your loan application is approved, the loan amount will be transferred to your bank accounts within 24 hours by the loan app without salary slip.

What is the minimum income requirement for an instant cash loan without salary slip?

image

The minimum income requirement for an instant cash loan is Rs. 25,000 per month, depending on the lender, applicant’s residence city, and other factors.

Can I get an instant loan without a salary slip and bank statement?

image

You can get an instant personal loan without your salary slip from some loan apps but they will require your bank statements that must have details of your salary credits. Lenders will not be able to provide a loan without salary slip and bank statement.

Can I get a personal loan at a salary of less than Rs. 15,000?

image

Yes. Some lenders like Money View, Faircent, Home Credit, etc. offer personal loans for salary less than Rs. 15,000. These are some of the best instant loan app without salary slip. You can get personal loan without CIBIL and income proof with some of these lenders.