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Can I get a personal loan if I self-employed?
If you’re self-employed, you don’t have W-2s. Still, applying for a personal loan if you’re self-employed is absolutely possible. You’ll just need to have different documents ready to send if the lender asks for them.
Which bank is best for personal loan for self-employed?
Best Self Employed Loans Interest Rate and Processing Fee Comparison
| Bank | Personal Loan Interest Rates | Processing Fee |
|---|---|---|
| ICICI Bank Personal Loan Rates | 10.25\% | Upto 2.25\% of Loan Amount |
| Bajaj Finserv Personal Loan Rates | 12.99\% | Starting from 1.50\%, Up to 3\% |
| IDFC First Bank Personal Loan Rates | 10.49\% | Upto 2.00\% |
| Axis Bank | 10.49\% | Rs.4,999 |
How much personal loan can a self-employed get?
What is the maximum loan amount you can get when you apply for a self-employed personal loan? Self employed customers can get unsecured personal loans from Fullerton India of upto INR 10 lakhs. However, the amount may go up to even INR 30 lakhs if you are a self employed professional and match certain criteria.
Can I get personal loan if my salary is 13000?
You can get the loan without having to submit any security. Most banks stipulate a minimum monthly salary of INR 15,000 – INR 20,000 for individuals to get a personal loan. However, those earning less than INR 15,000 can also get the loan.
Do I need ITR for personal loan?
Generally, personal loans are not taxable since the loan amount is not considered part of your income when filing income tax returns. This means that you won’t need to pay any income tax on personal loans.
Who is eligible for SBI personal loan?
SBI Personal Loan Eligibility 2021
| Eligibility Criteria | Salaried |
|---|---|
| Profession that are eligible for SBI Personal Loan | Salaried people working in government, private or MNCs companies |
| Applicant Age | 21 – 58 years |
| Minimum Eligible Income | ₹ 24,000 per month |
| Maximum Eligible Loan | 15x of monthly income |
How much personal loan can I get if my salary is 12000?
Salary of 12000, Am I eligible for Loan? Check here online
| Product | Salary | Max. loan amount |
|---|---|---|
| Personal Loan | 12000 | 65000 |
| Home Loan | 12000 | 600000 |
| Car Loan | 12000 | 230000 |
| Credit Card | 12000 |
How can I get a personal loan with no income?
If you are self-employed, a freelancer, earning in cash, or working on a contract, you may seek a personal loan with no salary slip. In such cases, you need to produce other financial documents to validate your income. This may take the form of an income certificate, bank account statements, ITR or Form 16.