TATA Capital PERSONAL LOAN
TATA CAPITAL
Check Eligibility, Get Instant Approval in 2 minutes and Disbursal in 3 Hrs*
Interest Rate Range
10.99% - 29.00%
Processing Fee
Upto 3.00%
Max Loan Amount
Upto Rs.35L
Tenure Range
Upto 6 Years

How to Get Personal Loan for Self Employed Without ITR?

blog-img

Fincrif India

Nov 3

05:34 AM

Financial services companies such as banks and NBFCs provide personal loans to self-employed individuals even in the absence of an ITR certificate. Still, consumers can apply for personal loans without submitting an ITR with the exception of a small number of lenders.

Modern technology advancements have made it possible for many financial sectors, such as banks and NBFCs, to implement online loan providing. Personal loan applications can now be submitted online without visiting a bank thanks to digital money lenders. Online loan applications are easy to complete and have a dependable process. Financial services companies such as banks and NBFCs provide personal loans to self-employed individuals even in the absence of an ITR certificate. Still, consumers can apply for personal loans without submitting an ITR with the exception of a small number of lenders. In order to find your perfect creditor who allows self-employed borrowers to apply for loans without needing an ITR, you will need to do a lot of research.


For your essential needs, you can thus easily and affordably get a personal loan for your needs from any online lender. MoneyWide is one such platform where consumers can get quick credit. In addition, the application process is hassle-free and doesn't include any needless documentation.

Personal Loan For Self Employed 

An individual can apply for a loan with ease if they are self-employed and have documentation of their income. Usually, lenders verify the borrower's income and supporting documents before extending a loan offer. So long as you have all the required paperwork, including evidence of income in the form of an ITR, getting a loan is easy.


But there are other individuals who operate as sole proprietors. Of the corporation, they are the only owners. Furthermore, people starting a business or a start-up might have no ITR certificate or may have one. That being said, there's no reason to worry. To apply for a personal loan, a self-employed person just needs to follow normal employment procedures. Finding lenders who provide personal loans for self-employed individuals without ITR is necessary in these situations.In order to get your loan accepted, you may need to provide additional documentation. Find out more by reading on.

Eligibility Criteria of Self Employed 

Before applying for a personal loan, self-employed individuals should always fulfil the eligibility requirements. It is advisable for them to verify if the lending company they have chosen provides personal loans to independent contractors with or without ITRS.


  • It must be proof of Indian citizenship or proof of residency.

  • In order to apply for self-employment, a candidate must be at least 21 years old. Fifty-eight is the maximum age.

  • Two years or more of industry-related job experience required.

  • A minimum monthly income of Rs. 25,000 is required of a self-employed applicant.

  • It is imperative that you keep your credit score at least 650.

  • To finish KYC, you'll need documents like your driver's licence, passport, Aadhar card, and PAN card.

How to Apply for Personal Loan Without ITR ? 

Applicants who are self-employed can have trouble getting their loans approved if they don't have an ITR certificate to prove their income. Applicants should provide alternate documents to the lender to prove to them that they can repay the loan. Applicants can get past this challenge with the help of these suggestions.

Extra money

If they are the only owner of the business, the borrower may provide additional evidence of income for self-employed documents. money from other ventures, house rent, money from parents or partners, etc., are examples of additional proof of income.

Find a surety

If the application is submitted without an ITR, the name of a guarantor may also be included. The guarantor is required to provide proof of income during the loan application process. They also have to ensure that, in the event of a default, the personal loan is repaid.

Assured collateral

Because most personal loans are unsecured, collateral is not needed. But, after supplying

security, a borrower might negotiate with the lender to have the loan amount disbursed even in the absence of proof of income.

Building a good relationship with the bank

Should there be a history of positive communication between the borrower and the lender, the lender may choose not to need any proof of income. For example, the lender may not require proof of income if the borrower already has a bank account with them or has a track record of making loan payments on time for previous loans. A person who has been pre-approved will also be able to apply for a quick line of credit without having to present any paperwork.



Loan Disbursal in 3 hrs*
100% Online Process

More Blogs

blog-img
2024: The Year of Climate Finance

Learn about climate finance and its role in climate action with CSE's online training course. Open to all, this six-day course covers global financial systems, UNFCCC policies, and funding for green technologies—no prior knowledge is required.

View
blog-img
RBI Repatriates 100 Tonnes of Gold from the UK to India: A Strategic Move After Three Decades

Discover how the RBI's repatriation of 100 tonnes of gold from the UK signifies India's economic strength and strategic diversification. Learn about the logistics, historical context, and future plans of this significant move.

View

Compare the best Personal loan offers

idfc-first-bank
IDFC First Bank
Interest Rate Range
10.49%*
Processing Fee
1-2% off loan Amount
Max Loan Amount
₹ 100000 to 1 cr
Tenure Range
6 month to 5 year
Apply
iifl
IIFL
Interest Rate Range
12.75% -13.50%
Processing Fee
2% -4%
Max Loan Amount
Rs 1lacs to 25 lacs
Tenure Range
1 to 5 year
Apply
standard-chartered-bank
Standard Chartered Bank
Interest Rate Range
11.49%
Processing Fee
2%
Max Loan Amount
Rs 1lacs to 50 lacs
Tenure Range
1 to 5 year
Apply
bajaj-finserv
Bajaj Finserv
Interest Rate Range
11%
Processing Fee
3.93%
Max Loan Amount
Rs 1lacs to 35 lacs
Tenure Range
1 to 7year
Apply
tata-capital
Tata Capital
Interest Rate Range
10.99% - 29.00%
Processing Fee
3%
Max Loan Amount
upto 35 lacs
Tenure Range
upto 6 Years
Apply
icici-bank
ICICI Bank
Interest Rate Range
10.50%
Processing Fee
2.50%
Max Loan Amount
Rs.50,000 to 25 Lakhs
Tenure Range
1 to 6 year
Apply
fullerton-india
Fullerton India
Interest Rate Range
11.99% - 25%
Processing Fee
6%
Max Loan Amount
Rs 50,000 to 25 lacs
Tenure Range
1 to 5 year
Apply
indusind-bank
IndusInd Bank
Interest Rate Range
10.49%
Processing Fee
3%
Max Loan Amount
Rs. 3 Lakhs to 75 Lakhs
Tenure Range
1 TO 50 years
Apply
kotak-bank
Kotak Bank
Interest Rate Range
10.99%
Processing Fee
3%
Max Loan Amount
Rs.50,000 to 25 Lakhs
Tenure Range
1 to 5 year
Apply
rbl-bank
RBL Bank
Interest Rate Range
17.50 - 26.0%
Processing Fee
3.50%
Max Loan Amount
Rs 1lacs to 20 lacs
Tenure Range
1 to 5 year
Apply
hdb-financial
HDB Financial
Interest Rate Range
12.0% - 31.0%
Processing Fee
2.50%
Max Loan Amount
upto 20 lacs
Tenure Range
1 to 5 year
Apply
idbi-bank
IDBI Bank
Interest Rate Range
11.0% - 15.50%
Processing Fee
1 %
Max Loan Amount
Rs. 25,000 to 5 Lakhs
Tenure Range
1 to 5 year
Apply
hdfc-bank
HDFC Bank
Interest Rate Range
10.50%
Processing Fee
2.50%
Max Loan Amount
Rs.50,000 to 40 Lakhs
Tenure Range
1 to 5 year
Apply
karur-vysya-bank
Karur Vysya Bank
Interest Rate Range
6.82%
Processing Fee
1.50%
Max Loan Amount
upto 75 lacs
Tenure Range
1 to 6 year
Apply
union-bank-of-india
Union Bank of India
Interest Rate Range
11.40% - 15.50%
Processing Fee
0.50%
Max Loan Amount
upto 15 lacs
Tenure Range
1 to 5 year
Apply
canara-bank
Canara Bank
Interest Rate Range
7.65%
Processing Fee
0.50%
Max Loan Amount
upto 3 lacs
Tenure Range
0 to 1 year
Apply
bank-of-maharashtra
Bank of Maharashtra
Interest Rate Range
10.0% - 12.80%
Processing Fee
1 %
Max Loan Amount
upto 20 lacs
Tenure Range
0 to 7 year
Apply
federal-bank
Federal Bank
Interest Rate Range
11.49% - 14.49%
Processing Fee
2.50%
Max Loan Amount
Rs 1lacs to 50 lacs
Tenure Range
1 to 5 year
Apply
syndicate-bank
Syndicate Bank
Interest Rate Range
7.50%
Processing Fee
0.50%
Max Loan Amount
Rs 1lacs to 5 lacs
Tenure Range
1 to 5 year
Apply
bank-of-baroda
Bank of Baroda
Interest Rate Range
7.25%
Processing Fee
2%
Max Loan Amount
Rs.10,000 to 15 Lakhs
Tenure Range
1 to 7year
Apply
pnb
PNB
Interest Rate Range
10.40% - 16.95%
Processing Fee
1 %
Max Loan Amount
upto 20 lacs
Tenure Range
1 to 6 year
Apply
axis-finance
Axis Finance
Interest Rate Range
13.0% - 18.0%
Processing Fee
2%
Max Loan Amount
Rs 25000 to 15 lacs
Tenure Range
0 to 3 year
Apply
yes-bank
Yes Bank
Interest Rate Range
10.99%
Processing Fee
2%
Max Loan Amount
Rs 1lacs to 40 lacs
Tenure Range
1 to 5 year
Apply
axis-bank
Axis Bank
Interest Rate Range
10.49%
Processing Fee
2%
Max Loan Amount
Rs.50,000 to 15 Lakhs
Tenure Range
1 to 5 year
Apply
aditya-birla-capital
Aditya Birla Capital
Interest Rate Range
11.75%
Processing Fee
2%
Max Loan Amount
Rs.25,000 to 15 Lakhs
Tenure Range
0 to 3 year
Apply
paysense
Paysense
Interest Rate Range
16.80% - 27.60%
Processing Fee
3%
Max Loan Amount
Rs.5,000 to 15 Lakhs
Tenure Range
3 Months to 5 year
Apply
moneyview
Moneyview
Interest Rate Range
15.96%
Processing Fee
2%
Max Loan Amount
Rs. 5,000 to 5 Lacs
Tenure Range
1 to 5 year
Apply
moneytap
MoneyTap
Interest Rate Range
12.96%
Processing Fee
2%
Max Loan Amount
upto 5 lacs
Tenure Range
2 months to 3 years
Apply
faircent
FairCent
Interest Rate Range
9.99%
Processing Fee
6%
Max Loan Amount
upto 10 lacs
Tenure Range
6 months to 3 years
Apply
upwards
Upwards
Interest Rate Range
24%
Processing Fee
2%
Max Loan Amount
Rs.20,000 to 3 Lakhs
Tenure Range
1 to 5 year
Apply
incred
INCRED
Interest Rate Range
16.0% - 36.0%
Processing Fee
2%
Max Loan Amount
Rs 75000 to 15 lacs
Tenure Range
1 to 5 year
Apply
finnable
Finnable
Interest Rate Range
1.3% to 2.3% per month
Processing Fee
3% - 4%
Max Loan Amount
Rs. 50,000 - Rs. 10 Lakhs
Tenure Range
5 years
Apply