An instant personal loan is available immediately. It can provide financial support during difficult times. No matter your situation, Individuals who are salaried or self-employed. You may find yourself in financial trouble at times. Nothing is better than a loan to avoid unwelcome and unexpected emergencies. Yes. Quick and easy personal loan. You could find the solution to your financial woes by getting a loan at a fair interest rate. A salaried employee may obtain a loan approval with income proof easier than a self-employed person. But, many people think it is more difficult to get a loan sanctioned for a self-employed individual. Self-employed people can get loans from trusted lenders/banks after submitting all necessary documentation and completing all formalities. Learn more about how to apply for a loan from a trusted lender/bank.
Personal Loan With Documents or Income Proof
The process of loan approval is made easier when you can provide proof of income. Lenders will approve loans for self-employed people who have all the necessary documents. See the personal loan eligibility criteria. You can find the required documents and other items to get a Personal loan available immediately.
Eligibility Criteria
The borrower must be a resident of India, between 18 and 65 years.
The lender may require that the annual turnover or profit be at least 1 lakh.
The borrower must be in business with the lender for a minimum of 3 years.
Documents:
Proof of age - Birth certificate/passport/PAN card
Proof of ID - Voter ID/Passport/Aadhar/PAN
Photographs
Photo ID and utility bill to prove residence
Last 3 months bank statement
Income proof - Last income tax return, balance sheet over the past 2 years, profit/loss certification
You can check with your lender to see if any additional documents are needed.
Rates Of Interest (ROI),
Rates of interest are affected by many factors such as the relationship between borrower and lender, credit history, etc. Once you submit the documents, the lender will calculate your ROI. A lender will determine the ROI if your company has a high turnover.
A lower interest rate:
It is always a good idea to compare the interest rates offered by different lenders before applying for a loan. Buddy Loan, India's largest loan aggregator, provides a loan starting at 11.99% p.a.
Instant Personal Loan without Income Proof
You can obtain a loan if your income is not proven if you are self-employed and have no collateral. This loan is also known as a secured personal loan. You can receive lower interest rates if you have a better relationship than usual with your lender. Another great way to get a Personal loan for the self-employed is to ask your family and friends to cosign your loan application without proof of income. If the applicant has excellent credit, approval will be quicker.
Wrapping Up
If you're a salaried employee, there is no need to worry about getting quick loans. From paying off debt to traveling to your dream destination or renovating your home, you can get a loan quickly. Buddy Loan comes in handy to help you meet all your needs by providing a Personal Loan for Salaried Employees. Learn more and apply for a loan through Buddy Loan!