7 Best Loan App for Loans without Salary Slip
Personal Loans without Salary Slips using Loan Apps. Learn about the Process and Check your eligibility Now!
There may be a situation where you require immediate money and you apply for an instant loan. In such cases, loan apps are very helpful which disburse the loan amount directly to your account quickly and without much documentation. The emergence of various loan lending apps has made the process of obtaining a loan easily from anywhere and at any time.
Most lenders require an extensive list of documents for personal loan which includes a salary slip. But what if you don’t have one?
The good news is that you can still get an instant loan without salary slip.
Ways To Get An Instant Personal Loan Without A Salary Slip
• Provide Alternate Proof Of Income –
Though you may not be having a salary slip but still there are other documents like bank statement, ITRs or income certificate that can be used as proof of income. You may submit any one of these.• Have A Good Relationship With The Lender –
If the lender is sure of your repayment ability you will get the loan even without the necessary documents. If you and the lender have a good professional relationship then there are chances that you may not be required to submit your salary slip.• Have A Good CIBIL Score –
A high CIBIL score of 750 or above proves your creditworthiness and reflects that you are a responsible borrower. With a high credit score the lender may approve your loan even if you are unable to provide the salary slip.• Apply For A Secured Loan –
Providing a collateral security when applying for a loan will reduce the risk of the lender who may then approve your loan without a salary slip.• Apply With A Co-Applicant –
In case you are not able to provide salary slip or other proof of income then it is a good option to apply for the loan with a co-applicant. It will also be advantageous if the co-applicant is having a good credit score.• Choose A Lender That Requires Minimal Documentation –
There are many online loan apps which provide instant personal loans with minimal documentation. You may choose any one of them to provide you an instant personal loan without having you provide a salary slip.Zaroorat aapki. Personal Loan Humara
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Instant Loan Apps Without Salary Slip In India
As a borrower you should choose a lender/ loan app which provides the following benefits –
• Quick approvals and disbursals
• High degree of flexibility and easy eligibility norms
• No collateral requirement
• Convenient documentation
• User-friendly features
Following are some of the apps which give instant loan without you providing salary slip
• IIFL Loans Mobile App -
It can be downloaded from Play Store and can be used to apply for new loan, including personal loan and business loan with end-to-end digital journey. You can also use it to check your credit score, apply for mutual funds, trading accounts and even insurance. The details of all your loan accounts can be viewed on the app. You can also use the IIFL Loans Mobile App to make payment, top-up a loan or take an instant loan.
• PaySense –
PaySense have partnerships with reputed banks to provide instant loans ranging from Rs.5000 to Rs.5 lakhs. These loans can be used to cover any financial need. The repayment tenure varies from 3 – 60 months. They charge a processing fee of 2.5% of the loan amount and GST.
• CASHe Personal Loan –
This lending app provides loans up to Rs.4 lakhs. The tenure varies from 3 – 18 months. Though these are unsecured loans they charge a processing fee of 3% of the loan amount.
• EarlySalary –
This app lets you borrow a loan of Rs.5 lakhs and pay it back with manageable EMIs. They charge a processing fee of 3% of the loan amount and the maximum tenure is 18 months.
• Nira –
Nira is one of the popular apps that lend a loan without salary slip. It provides rapid approvals, easy registration process and availability of loans without CIBIL score. Based on the documents you provided, it automatically evaluates you credit score. The loan amount varies from Rs.3000 to Rs.5 lakhs. The repayment tenure can be extended if needed.
• mPokket Loan –
This app is best suited to students and salaried people to avail a short term loan to meet their financial needs immediately. With a low interest rate it provides a loan of Rs.500 to Rs.30000. Students need to submit their ID proof while salaried people need to provide their pay stubs to avail a loan. The loan approval and acceptance process is fully online. Disbursements generally takes a day and can be done directly to the borrower’s digital wallet like PayTM so the borrower need not open a bank account.
• Home Credit –
Home Credit requires PAN card and other ID/address proofs to approve a loan of amount up to Rs.2 Lakhs. The loan amount largely depends upon the credit score but this app also provides loan to those who do not have any credit score. The loan is repayable over 26 months.
Eligibility Criteria For Personal Loan Without Salary Slip
• Applicant must be between 21 and 57 years
• Applicant must be an Indian citizen
• Income of the applicant must be credited directly to the applicant’s bank account.
• A good credit score and credit history
How To Apply For Personal Loan Without Salary Slip
• Choose an online lending app
• Fill in your details to know about your eligibility
• Select instant loan and repayment plan of your choice
• Upload all the required documents digitally
• Upon approval, get the loan amount disbursed directly to your bank account.
Conclusion
Personal loans have become popular because they are available quickly without much documentation and the fact that they can be used for any end purpose. In addition, the lack of collateral and easy repayment terms makes them an instant hit with people.
With a user-friendly interface, IIFL Finance disburses loans quickly that can fulfil your personal or professional needs. These loans enable borrowers to comfortably deal with financial emergencies. The loan application process of IIFL Finance is simple and requires little paperwork and can be completed entirely online.
Zaroorat aapki. Personal Loan Humara
Apply NowFAQ's
Q1. How to get 10,000 rupees urgently without a salary slip?
Ans. There are multiple ways by which you can get money on an urgent basis even if you do not have a salary or cannot produce a salary slip.
These include:
- Online loan apps
- Personal loans from banks or NBFCs
- Peer-to-Peer Lending platforms connecting borrowers directly to lenders
- Credit Card Cash Advances
- Pledge gold for loans
- Advance Payment from office or client
- Borrow from friends or family members
Q2. Can I get a 2 lakh personal loan without salary slip?
Ans. Yes, you can get a personal loan of 2 lakhs without a salary slip. But for that you need to ensure that your credit score rating is strong, preferably above 750
Q3. Is there an instant loan option available without a salary slip?
Ans. Yes, there are many lenders in India who offer the option to apply for a personal loan online without a salary slip. You will be expected to fill out an application form and provide alternative income proof to complete the process.
Q4. What is the minimum loan amount available without providing income proof?
Ans. It depends from lender to lender. The minimum loan amount without providing an income proof can start as low as Rs. 3000 onwards.
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