Instant Personal Loan without Salary Pay Slip or Bank Statement

Salary slip and bank statement are essential documents required for availing a personal loan. For salaried individuals, a salary slip is necessary, whereas a bank statement stands mandatory for self-employed individuals. These are categorised as income documents that reflect your ability to repay the loan on time. If your salary slip or bank statement shows less than Rs. 15,000, you will not be eligible for a personal loan with major credible finance companies.  The eligibility criteria with the majority of financial firms in India starts with a minimum salary of  Rs. 15,000 or more.

Though these are essential income documents, it is not impossible to get an instant personal loan without salary payslip and bank statement. You can certainly be eligible for a personal loan without salary slip or bank statement by submitting alternate personal documents such as:

  • Aadhar Card
  • PAN Card
  • Voter ID Card
  • Passbook
  • Utility Bills
  • Ration Card
Bills and passbook dated within 60 days along with the borrower’s name and address will only be valid. Proofs that confirm your source of income are accepted in case you don’t have salary slips and bank statement:
  • Letter from the company/employer
  • Salary certificate duly signed by the authorised signatory
  • List of assets and property, in case of self-employed
Borrowers not having a stable income but good amount of assets are also eligible for a secured personal loan. A borrower is required to submit the property documents to get the instant cash loan approval via a secured personal loan. Establishing a good rapport with your lender can help with easy approval of the personal loan. Find a lender ready for loan offering with simple eligibility terms.
Stay updated with the personal loan eligibility criteria for self-employed and salaried individuals. Being well-informed will save you from loan rejections due to lack of documents such as salary pay slip and bank statement.

Personal Loan Eligibility and Documents for Self Employed:
  • Borrower should be an Indian citizen.
  • Borrower should belong to an age group between 21 years to 58 years.
  • Borrower’s turnover or profit should be as per the lender’s requirements.
  • Borrower should have a minimum of 3 years of business experience.
  • Duly signed loan application form
  • Passport/ Voter ID/ PAN Card
  • Birth certificate/ passport
  • Latest Income tax return (ITR)
  • Last 2 years Balance sheet certified by a CA

Personal Loan Eligibility and Documents for Salaried:
  • Borrower should be an Indian citizen.
  • Borrower should earn a minimum salary of Rs 15,000.
  • Borrower should belong to an age group between 21 years to 58 years.
  • Borrower should submit the latest salary slips and 6-months bank statement of salary account.

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