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Personal Loan without Salary Slip

Personal loan lenders usually require income proof, such as salary slips, bank statements, or work certifications to assess the repayment capacity of the applicant. However, freelancers, self-employed individuals, contractual workers or those with irregular income may not have such documents and are required to submit their ITR or financial statements to lenders for income verification.

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹40L
Rate of Interest9.99% - 17.15%
Tenure upto1-5 Years
Processing Fee1% - 1.5%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest9.98% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Why do lenders ask for salary proof for personal loan

Salary slips are required by lenders to verify your income. Most of the banks and Non-Banking Financial Companies (NBFCs) use these documents to determine your ability to repay the loan. Apart from salary slips, lenders also ask for ITR, Form 16 and bank statements to determine the repayment capacity.

Who requires a personal loan without a salary slip

  • Consultants and freelancers who have multiple projects or clients and have no fixed income.
  • Doctors, small business owners, lawyers and other self-employed professionals who do not receive formal salary slips.
  • Delivery agents, remote workers, drivers and other contractual workers paid on an hourly basis or per-task basis also don’t draw salary slips.

How to get a personal loan with no salary slip

  • If you are a business owner, you can get a personal loan without a salary slip based on your business proofs, audited balance sheet, P&L statement, etc.
  • Freelancers can submit client invoices or contracts.
  • Other alternative documents include ITR, bank statements, etc.

How can you improve the chances of your personal loan approval

Maintain or improve your credit score of 750 or above

The higher the credit score reflects your creditworthiness and financial discipline.

Apply with a co-applicant

Applying with a co-applicant with higher income and a strong credit score will reduce the risk for lenders and thereby improve your chances of loan approval.

Submit complete additional documents

Submit the latest bank statements, ITR, certified P&L statements, etc, as proof of financial stability.

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In case, your personal loan application is not approved

  • Applying for secured loan options i.e., gold loan or loan against your car
  • If you have a credit card, you can apply for a loan against your credit card. This is usually offered to those with a good credit history and a low credit utilisation ratio.

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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What our customers say

Personal Loan

Maine Paisabazaar se personal loan apply kiya or Jaldi approval bhi mil gaya aur zyada documents bhi nahi lage.

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I was looking for Personal loan and came across this platform. I applied online and received multiple loan offers instantly and got a pre-approved offer, and the amount was disbursed within 48 hours.

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Take Personal Loan from Paisabazaar. Approved in 2 days, easy process

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I took a personal loan from Bajaj Finserv via Paisabazaar, and it was easy! Paisabazaar made it smooth and simple. The whole process was quick and hassle-free!

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Got a personal loan via Paisabazaar—super easy & quick! Kunal from sales was super helpful, explained everything well. Highly recommend! ?

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PawanDec 17, 2024

Get personal loan

Paisabazaar se pre-approved personal loan jadi milgya.. Or 48 hours mai paisa account mai agya.. Team is very helpful

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Good experience with Paisabazaar! Loan approval hua within 48 hours aur rates bhi kaafi reasonable the.

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Main Travel k liye loan apply kiya tha.. jo jaldi hi approve hogya or account mai agya.

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Last updated: 28 August, 2025

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