Well, before I can help you with more details I will need to know what kind of loan you’re looking for. Is it a personal loan or a business loan? Since you mentioned self employed, I will assume you mean business loan. In this case, all you have to do is be above the age of 18 and below the age of 65 to apply. Keep these points in mind –
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You might not get a business loan without ITR from big public sector or private sector banks, you will need to approach NBFC (non-banking finance company) or MFI (microfinance institutions)
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These NBFCs and MFIs are going to charge interest rates that are on the higher side as compared to other banks.
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You can consider taking a loan against property, if you have property in your name
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Try getting a loan with a co-applicant, this way the person that you are applying with will have the documents necessary to get a loan with ease.
There are also loan schemes that you can look into, these were started by the government and might help in your situation –
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Mudra Loan, part of Pradhan Mantri Mudra Yojana (PMMY)
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Prime Minister’s Employment Generation Programme (PMEGP)
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National Small Industries Corporation (NSIC) Subsidy
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PSB Loans in 59 minutes
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Stand-up India
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SIDBI Make in India Soft Loan Fund for MSMEs (SMILE) to name a few
To know exactly what each loan has to offer, and what documentation you need for each loan, you need to visit each loan website for more details.
You can also try companies like Money Tap and StashFin, they provide loans without asking for many documents and are aimed at those with low salaries.
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I am self employed 20k per month income, no ITR, how I can get loan please?
Baaba shaik
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5 Year
2020-11-28T23:11:53+00:00 2020-11-30T11:50:10+00:00Comment
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