How to Get a Personal Loan Without Income Proof or Salary Slip?

We all face situations where we could use a little extra money. Maybe your family wants to go on a weekend trip, your home appliances need repair, you need to upgrade your phone or there is a medical emergency. 

A personal loan without income proof could be extremely helpful in such situations. When you avail an instant loan, you get the money in your account quickly and without any hassles.

Understanding Personal Loans Without Income Proof

On Zype, you can get a personal loan without salary slip up to ₹5,00,000. You can complete your loan application in less than 8 minutes and get a credit line offer in less than 60 seconds. Once your credit line is activated, you can transfer money to your account in a single tap and enjoy same day disbursal on loans.

It is not mandatory to upload an income proof to get loans from Zype. However, if you need a higher credit limit, you can upload the bank statement of the last four months to get an updated credit limit offer.

Pros and Cons of Personal Loans with No Salary Slip 

While the absence of a salary slip will not stop you from availing a personal loan, it’s important to weigh out the pros and cons you may face. 

 I) Pros 

Flexibility in Borrowing Personal loans without salary slips can make credit accessible to even those borrowers who are self-employed, freelancers or own a business. 

Instant Access to Money The loan approval and disbursal process becomes faster when there’s no requirement for salary slips. This can help people meet their diverse financial requirements instantly. 

Quick Application Process The absence of a salary slip doesn’t only expedite the time taken for loan approval and disbursement, but also the application process. 

II) Cons 

Higher Interest Rates There’s a possibility that lenders charge you higher interest on your loans to control the risk associated with providing a loan without a salary slip.  

Limited Loan Amount and Tenure While the terms of borrowing can be different across various lenders, the absence of income proof may lead you to get smaller loan amounts with a shorter tenure. 

Difficulty in Getting Approval Your income proof gives an understanding of your lender about your ability to repay your loan. Lack of this knowledge can make it difficult for the lender to give you approval.

Eligibility Criteria for Personal Loan Without Income Proof

You can get an approved loan offer from Zype by finishing a few simple steps of the loan application process to get a personal loan without income proof. Before applying for the credit limit, check these criteria to see if you’re eligible for a personal loan without salary slip.

Also Read: Personal Loan Eligibility

Age18 years or above
NationalityCitizen of India
Address ProofValid PAN & Aadhaar card
Salaried individualMinimum monthly salary = ₹15,000

Documents Required for Instant Personal Loan without Income Proof

1. Proof of photo identity

Once your credit offer is generated, you would need to click your selfie online to complete the KYC process and unlock your credit line to get a personal loan without salary slip.

2. Mandatory Documents

There is no need to upload any document to get an instant personal loan without income proof from Zype. Just enter your PAN and Aadhaar number along with a few other basic details to complete the loan application and KYC process. 

3. Income Proof (not mandatory)

You don’t have to submit an income proof to borrow money from Zype. You only need to upload the bank statement of the last four months if you are not satisfied with your credit limit and want to upgrade the same.

Interest Rates for a Personal Loan Without Income Proof from Zype

One of the most important things to check before availing a personal loan is the interest rate charged by the lender. The interest rate charged by Zype depends on the user’s credit profile. If you have a healthy credit profile for credit score, you will be charged a lower interest rate.

Below are interest rates and other details of Zype personal loans –

Loan AmountUp to ₹5,00,000
Interest rateStarts at 1.5% per month
Type of Interest RateReducing interest rate
Tenure options3, 6, 9 and 12 months
Disbursal Same day disbursal
Interest on Overdue EMIs Penal interest & late fees will be charged to your total outstanding loan on daily basis 

Things to Keep in Mind While Taking a Personal Loan Without Income Proof 

While a personal loan without income proof can offer you the financial assistance you need, it’s important to keep a few things in mind before you even start your application process.  

Interest Charges and Processing Fees 

Typically, lenders give complete transparency on the interest charges and processing fees associated with taking a loan. Make sure it fits your budget and compare offers across various lenders to get the best terms of borrowing. 

Consider your financial requirements and budget 

Make sure you have clarity about the purpose of the loan. This will help you gain a better understanding of the amount you need to borrow. Make sure you also assess your financial requirements to ensure that the loan fits your budget. 

Terms and Conditions 

Go through the terms and conditions thoroughly. Make sure you read the fine print and understand the loan terms, additional charges, hidden charges, etc. 

How to Apply for an Instant Personal Loan Without Income Proof?

1. Download the Zype app and create your account by giving the following details – name, mobile number, PAN and employment details.

2. Based on this information, your credit limit will be generated.

3. Complete the KYC process by completing OTP on Aadhaar linked mobile number and clicking an online selfie.

4. You can now select the personal loan repayment amount and tenure and transfer money from your credit line to your account in a single tap.

Also Read : Personal loans without a PAN card – Is it a good idea?

5 Tips for Taking a Personal Loan without Bank Statement

Maintain A Good Credit Score 

When there’s an absence of income proof, lenders determine a borrower’s loan eligibility by going through other factors like their repayment history and credit score. A good credit score automatically makes you a low-risk borrower increasing your approval chances. 

Pledge an Asset as Collateral 

Usually, lenders require your income proof to understand your ability to repay the loan. If you want to increase your chances of loan approval with favourable terms of borrowing, you can choose to pledge an asset as collateral. 

Bring In a Co-Applicant 

You can increase your chances of getting approved for a loan by applying with a co-applicant. 

Find Flexible Eligibility Terms 

There are many lenders available in the market that offer instant personal loans without any income proof or stringent eligibility terms. On Zype, you only need to fulfil this simple eligibility criteria: 

You need to 18 be years or above

A valid PAN and Aadhaar card

Minimum Monthly salary of Rs.15000 

Apply for a Small Loan Amount 

Applying for a small personal loan amount reduces the lender’s risk associated with providing you credit. This way, you can get instant access to the money you need without providing any income proof. 


Getting money from a personal loan app without salary slip is a convenient and quick way to meet your immediate money needs. You can take instant personal loans up to ₹5,00,000 from Zype without submitting any income proof.

Simply enter your basic details like name, PAN, mobile number, Aadhaar number and employment details to complete your loan application and KYC process and enjoy same-day disbursal of your instant personal loans.

Frequently Asked Question

Can I get a personal loan without a salary slip?
Yes, you can get a personal loan without a bank statement or salary slip from Zype.
How to get a loan without income proof?
Download the Zype loan app and enter basic details like name, PAN, Aadhaar number, etc to complete the loan application process and get money from personal loan app without salary slip.
What is the minimum income requirement for salaried borrowers looking for Personal Loans?
The minimum monthly salary required to get a loan from Zype is ₹15,000.
Should I provide any security, collateral, or guarantors?
You don’t have to provide any security, collateral, or guarantors to get a personal loan from Zype.
Is There A Limit On The Amount Of Instant Loan Without Income Proof?

The limit on the amount of instant loan is different among different lenders and depends on many factors like your credit score, repayment history and monthly income.

Do I Have To Pay Higher Interest For Getting A Loan Without Income Verification?

No, you don’t. The interest rate you’re charged on your personal loan depends on many factors like your credit score, monthly income, loan amount, loan type, repayment history, etc.

What Is The Minimum Income Requirement For An Instant Personal Loan Without A Payslip?

The minimum income required for an instant personal loan depends on the eligibility criteria set by the lender. You need a minimum monthly income of ₹15000 to get a personal loan from Zype.

Can I Get An Instant Loan Without Cibil And Income Proof?

Yes, you can. There are many lenders like Zype that offer personal loans to individuals who are new to credit without asking for any income proof. (Unless you want to apply for a higher credit limit)

Is There A Minimum Requirement For Personal Loans Borrowed By Self Employed Individuals?

The eligibility criteria and required documents are set by the lenders and can vary. However, your identity proof, KYC documents and income proof are the main documents that any lender will ask for.

If I Work For Myself, Can I Still Get A Personal Loan?

If you work for yourself, you can apply for a personal loan with lenders who offer loans to self-employed individuals.

Is It Possible For Self-Employed Candidates With Bad Credit To Get Personal Loans?

While there might be lenders who offer personal loans to self-employed individuals with bad credit, you may have to pay a very high interest on it. A good credit score can help you unlock high value loans.

When Applying For A Personal Loan, What Is The Minimum Income Required For Self-Employed Borrowers?

The minimum monthly salary required as a self-employed borrower depends on the eligibility criteria set by the lenders.

How To Get An Urgent Cash Loan Without A Salary Slip?

With Zype, you can meet your urgent cash needs without any salary slips. Just download the app from PlayStore/AppStore and complete your loan application in less than 5 minutes.

How Much Personal Loan Can I Get Without A Salary Slip?

On Zype, you can get a personal loan up to ₹5 lakhs starting at 1.5% interest per month without submitting any salary slips or income proof.

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