The non-salaried individuals, freelancers, consultants, self-employed professionals, or those with irregular income can secure personal loans using alternative documentation, albeit with stricter scrutiny. So how to get personal loan for non salaried person? Several lenders allow select existing customers to get credit without submitting standard income proofs, such as salary slips or ITRs, provided their creditworthiness and relationship history meet criteria. For new or self employed applicants without pre approved offers, lenders typically require alternative evidence of income.
Can a Non-Salaried Person Get a Personal Loan?
Yes a non salaried person can get a personal loan.
However, they must submit alternative income proof documents like bank statements (last 3 to 6 months) showing consistent inflows, Income Tax Returns, profit-and-loss statements certified by a CA, or even freelancer invoices to help assess repayment capacity.
Lenders like HDFC and others may offer loans without strict ITR requirements if you have a strong banking relationship and at least a year or more of business continuity.
Securing approval hinges on a good CIBIL score typically 650 or above, ideally 750+, which signals responsible credit behaviour and compensates for irregular income patterns.
You can also apply for a personal loan with a co applicant or guarantor with a stable salary, which reassures lenders about repayment capacity.
I hope this helps!
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How to Get Personal Loan for Non Salaried Person?
shikha
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4 months
2025-07-25T14:29:10+00:00 2025-07-25T14:29:12+00:00Comment
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