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Personal loans are a great help in emergencies. There are many loan providers which offer loans with minimal requirements and details. We have conducted detailed market research and analysis to shortlist the companies offering personal loans with minimum interest rates, processing fees, and documents. You can go through our list to explore the alternatives to get easy loans without income-related documents and with minimum interest.
List Of Personal Loans Without Income Proof
Sr. No. | Product | Processing Fee | Collateral Required | Interest Rate |
1 |
IndusInd bank | 0% | No | 10.49% PM |
2 | PaySense | 2-2.5% | No | 12.77% PA |
3 | LazyPay | 2% | No | 18% PA |
4 | ZestMoney | 471/- | No | 12.3% PA |
5 | Money Tap | 2% | No | 13 - 24.03% PA |
6 | Dhani | 3% | No | 13.99% PA |
7 | PayMe India | 300/- | No | 36% PA |
8 | CASHe | 2% | No | 9.7% PA |
9 | India Lends | 2.50% | No | 10.99% - 15.99% PA |
10 | NAVI | 3.99%-6% | No | 9.99% PA |
If you want some options to get instant loans, you need to go for this option. You can get a loan of any amount between 30,000 to 5,00,000. Also, you don’t have to wait to get this loan approval. All the documents that they will require will be collected from your place. So, this one is a hassle-free option.
- Interest Rate: 10.49% PM
- Maximum Loan Amount: 5,00,000
- Minimum Loan Amount: 30,000
- Documents: Identity, address, income proof, and photographs
- Features: easy documentation, quick approval, flexibility for users
Pros | Cons |
Digital Process with no physical documentation involved | The loan is not passed to people with a poor credit rating |
Quick approval for loans | You cannot avail of small loans of less than 30,000 |
High approval rate | |
Looking for some loan options where you can go ahead and get it at a low-interest rate? It should be one of the best options for you. Get loans at just 1.08 to 2.33 per cent per month. Not only that, but you will be able to get a loan amount between 5000 to 500000. Also, you might not require any particular credit score or anything.
- Interest rate: 12.77% PA
- Maximum Loan Amount: 5,00,000
- Minimum Loan Amount: 5,000
- Documents: Identity, address, income proof, and a photograph
- Features: No collateral required, low-interest rates, no credit scores required
Pros | Cons |
Very low-interest rates | Some document verification might take a long time |
No requirement for collateral | Credit scores will have an impact on higher amounts |
Easy loan approvals | |
It is for low amounts of loans you will be able to get. The maximum amount you will get from this one will be 1,00,000. Though the loan process is quite simple, there will be several factors. The interest rate will vary based on those credit scores and all. The interest rate will be between 18 to 28% per annum.
- Interest Rate: 18% PA
- Maximum Loan Amount: 1,00,000
- Documents: you need to submit your KYC
- Features: get easy approvals, the loan amount will increase to 1,00,000, and the interest rate will vary
Pros | Cons |
Easy approvals | The interest might increase up to 28% |
Up to Rs. 1,00,000 loan available | Different documents required to be verified |
The low-interest rates for better credit scores | |
You will be able to go ahead and buy several items with the help of the amount you can get from this app. The maximum loan amount from this app is also 1,00,000. Also, this app has a fixed interest rate of 12.3% per annum. You also need to go ahead and ensure that the cibil score is perfect.
- Interest Rate: 12.3% PA
- Maximum Loan Amount: 1,00,00 INR
- Special Usage: Buy from several brands
- Documents: Provide the basic KYC
- Features: Fixed interest rates, buy from several brands, increase your loan amount
Pros | Cons |
12.3% interest rate fixed | A better CIBIL score needed |
You can increase the loan amount | |
Get different items from several brands. | |
This app will help you get some amount from a lower one to a higher one. The loan amount will start from 3,000, reaching up to 5,00,000. Also, you will be able to get a low-interest rate, which will be 1.08 to 2.3%. This app requires a lot of items to get approval.
- Interest rate: 13 - 24.03% PA
- Maximum loan amount: 5,00,000
- Minimum loan amount: 3,000
- Documents: Selfie, KYC, bank statement, credit card statement
- Features: Paperless loan processing, terms for 2 to 36 months, 4 minutes of approval
Pros | Cons |
Approval in 4 minutes | Plenty of documents for documentation |
Low-interest rates | The maximum term can be 36 months |
The loan amount will be between 3,000 to 5,00,000 | |
The most interesting factor you will be getting from this app will be the interest rate, which will start from 1% per month, and it might increase up to 3.17%. The minimum amount will be 1,000, and the maximum amount will be 5,00,000. Also, there will be 24×7 customer support.
- Interest Rate: 13.99% PA
- Maximum Loan Amount:5,00,000
- Minimum Loan Amount: 1,000
- Documents: PAN card, address proof, bank details
- Features: 24×7 customer care service, low-interest rate, perfect for pharmacy access
Pros | Cons |
Low-interest rates | Documentation might take a longer time |
24×7 customer support | Not for all the e-commerce platforms |
Up to Rs. 5,00,000 loan available | |
The loan amount of this app will vary from 1,000 to 1,00,000. You need to go ahead and access this app with a salary slip, bank statement, and KYC itself. This app will help you to get a loan from 1,000 to 1,00,000. You will be able to go ahead and get a time of 2 years to repay the loan.
- Interest Rate: 36% PA
- Maximum Loan Amount: 1,00,000
- Minimum Loan Amount: 1,000
- Documents: Salary slip, Bank Statement, KYC
- Features: get easy loans, low-interest rates, easy log-in
Pros | Cons |
Low-interest rates | Only two years time for repaying |
Easy log-in options | Higher interest rates for low term amount |
Rs. 1,00,000 loan available within a day | |
This app has some interesting features starting from 1.75% per month. You can go ahead and apply online for this loan. The loan amount will start from 5,000 and will go up to 5,00,000. You will even be able to go ahead and access this app with the auto-debit feature as well.
- Interest Rate: 9.7% PA
- Maximum Loan Amount: 5,00,000
- Minimum Loan Amount:5,000
- Documents: KYC, proof of income
- Features: Online application, low-interest rate, privacy and security
Pros | Cons |
Perfect privacy and security throughout the loan approval process | Verification time required |
Maximum loan amount of Rs. 5,00,000 | A good credit score is needed |
Low-interest rate | |
While looking for some premium options for money lending. You can go for this one. The interest rate will start from 0.9 and might require an increase of 3%. The minimum amount will be 15,000, and the maximum will be 5,00,000. Also, you will have to go ahead and require a lot of documents together.
- Interest Rate: 10.99% - 15.99% PA
- Maximum Loan Amount: 5,00,000
- Minimum Loan Amount: 15,000
- Documents: it will require several documents
- Features: Easy approval, completely online process, quick disbursement
Pros | Cons |
You will have to pay low-interest rates | Verification time required |
The maximum amount will be 5,00,000 | Make the registration first |
Require a secure bank for transactions | Credit score should be better |
While looking for a higher loan amount, you can easily look for this option. The interest rate on this option is also meagre, just 9.99% per year. The number of loans will also be 20 lakhs, and you can go ahead and get it for six long years.
- Interest Rate: 9.99% PA
- Maximum Loan Amount: 20,00,000
- Term For The Loan: 6 years
- Documents: you need to submit your basic KYC
- Features: Low-interest rate, the higher amount for the loan, easy approval
Pros | Cons |
The higher amount available for a loan | Document corrections might take a long time |
Easy loan approval | The interest rate can even go to 45% as well |
Low-interest rate | |
What Are The Different Ways You Can Get Personal Loans Without Income Proof?
- Maintain a good relationship with the bank.
- Make sure you pay all the dues on time.
- Ensure missing any payments.
- Establish a high credit score with your bank.
Personal Loans Without Documents
- Ensure the debt-to-income ratio is 50% or less
- Maintain a high CIBIL score.
- Good relationship and understanding with the lender.
How To Get Personal Loans Without A Pan Card?
You can only get personal loans without a PAN card if the loan amount is INR 50,000 or less.
How To Get Personal Loans, Salary Account Slips,/Income Tax Return Certificates?
- Submit income tax receipt and Form-16
- Mention the alternate income source
- Submit some collateral
- On-board the guarantor
What Are The Terms And Conditions Of Getting A Loan Without Income Proof?
- You must be an Indian citizen and aged between 18- 65 years.
- It would be best if you worked for the last 2 years.
- The maximum CIBIL score should be 650 or more.
What Are The Documents Required To Get A Personal Loan Without Income Proof?
- Form-16 or income tax returns slip.
- KYC completion with address and age-proof documents.
- You must have the bank statement for the last 6 months.
1. Can I get a personal loan without submitting ITR?
Yes, you are eligible for a personal loan without submitting ITR by submitting your identity, income, and address proof.
2. Is a PAN card necessary while taking a personal loan?
To get a loan of 50,000 or more PAN card is mandatory. A loan below this amount is credited without a PAN card.
3. How long does it take to disburse a personal loan?
The pre-approved loan application gets the loan disbursed into your account within 72 hours with all the authorized documents.
It is our list of banks offering personal loans with minimum documents and no collateral required. This list will help you get the loan easily with some documents. I hope the article helps you with your requirements.
To contact the Express Deals team, please drop an email to - expressdeal@newindianexpress.com
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