Personal loans are often referred to as instant personal loans as they are unsecured and have quick disbursal. Most lenders offer them to you once you meet eligibility criteria and submit a handful of documents, such as identity, address, and income proof.
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.
- 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 of 685 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.
Tips to get a personal loan without salary slips
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:
Up to Rs. 12,76,500.
13% to 35% p.a.
6 months to 63 months.
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.
Frequently asked questions
If you are looking for a personal loan without income proof, consider pre-approved offers. In the case of our Insta Personal Loan, we extend pre-approved loan offers after verifying your creditworthiness. Select existing customers may not even need to submit any documents, including an income proof.
Select customers can get an Insta Personal Loan without submitting any documents such as their salary slips or bank statements.
You can get an Insta Personal Loan of up to Rs. 12,76,500. Depending on your profile, you may not have to submit basic documentation. Some select existing customers may be able to get our loan without any documents.
Our Insta Personal Loan offers competitive interest rates ranging from 13% to 35% p.a.
Select existing customers who have a pre-approved Insta Personal Loan offer may not have to submit documents such as their salary slips or any other income proof. Typically, you are required to submit the following documents to get our regular personal loan:
- Passport-size photographs
- KYC documents
- Bank account statements for the last 3 months
- Salary slips for the last 3 months
Select customers, who have a pre-approved offer of our Insta Personal Loan, may be able to get funds without submitting income proof.
Our existing customers with a pre-approved Insta Personal Loan offer can get a personal loan without submitting any income proof*.
*Terms and conditions apply.
With our Insta Personal Loan, select customers can get a Rs. 30,000 personal loan without having to submit any income proof.