However, some lenders will disburse online personal loans even if you do not have income proof.Here is how you can avail of such a loan for non-salaried.
- Income from other sources
Apart from your salary income, if you have other sources of income that can boost your repayment capabilities, highlight them during your application. You can show alternative sources such as rental income, spousal/parental income, and interest income from investments.
- CIBIL Score
A credit score of685 or higher showcases your creditworthiness. It can help you get approval without income proof and secure affordable personal loan interest rates too.
- Guarantor or co-applicant
Applying for the loan with a guarantor or a co-applicant increases your loan approval chances. It can also help you get a higher loan amount with favourable personal loan interest rates, as the lender will consider the co-applicants repayment ability.
- Relationship with lender
If you hold a current or savings account with the lender and frequently transact through such accounts, it will help build trust with the lender. It could also improve your chances of getting an instant loan without income proof.
Additionally, to improve your chances of approval in the absence of income proof, ensure that you meet all other eligibility criteria and submit all other necessary documents. And use our personal loan EMI calculator to calculate your EMIs beforehand.
Read more: How to avail of a personal loan without documents?
Tips to get a personal loan for non-salaried
If you are looking to get an instant personal loan without income proof, you can check out pre-approved offers.Our Insta Personal Loan provides pre-approved offers of up to Rs. 12,76,500. Select customers may not even need to submit any documents, including income proof in the form of salary slips or bank statements. This makes it easier for select customers to get an instant loan without income proof. Depending on the profile, some customers may need to provide basic documentation to proceed with the application.
Interest rates for a personal loan without income proof
Select customers can get our Insta Personal Loan without submitting any documents. Below are some useful details:
Loan amount | Up to Rs. 12,76,500. |
Interest rate | 13% to 38% p.a. |
Tenure | 6 months to 63 months. |
Disbursal | 30 minutes* to 4 hours (*applicable for select customers). |
Please ensure that you read all the fees and charges carefully before proceeding with your application.
