Personal loans in Delhi are available for people that find themselves in a financial pickle. Lenders do ask for some documents to offer a personal loan in Delhi. Along with providing the required documents, an applicant must meet the loan eligibility norms. Usually, lenders are quick to provide loans in Delhi to salaried applicants. It does not imply that one cannot get a loan in Delhi without income proof. There are certain conditions for getting an unsecured loan in Delhi without incomer proof. However, it is very subjective and depends on the applicant’s profile. Read on to know how to acquire a loan in Delhi without income proof.
Know the Working of Personal Loans in Delhi
All personal loans fall under the umbrella of unsecured loans. For unsecured loans, lenders do not demand collateral. Since lenders do not ask for collateral, they check the applicant’s repayment capacity. Salaried applicants can repay the personal loan timely via their monthly salary. It is why lenders offer loans in Delhi immediately to salaried applicants. However, one can also get a loan in Delhi without income proof. Lenders have other ways to judge the repayment capacity of an applicant without income proof.
How to Get a Loan in Delhi without Salary Slips?
One can acquire a loan in Delhi without income proof in the following ways:
- Many applicants may not be an employee receiving a monthly salary. However, they may have other sources of income. Therefore, applicants should include income from other sources in their loan application. It will boost the chances of getting a loan in Delhi without salary slips. Even if you receive timely funds from your spouse/parent, include them in the loan application. One can also showcase rental income and investment returns to get a loan in Delhi without salary slips.
- If a loan applicant has a high CIBIL score, they may get a loan in Delhi. A CIBIL score of more than 750 can help get a loan in Delhi without income proof. A healthy CIBIL score indicates that the user is likely to repay the loan amount. In addition, a healthy CIBIL score will prove the applicant’s creditworthiness to the lender.
- Many people apply for a loan in Delhi with a guarantor or a co-applicant. Urgent personal loan requiredby a non-salaried individual can be processed with the help of a co-applicant. If the guarantor has a healthy CIBIL score, one can even get a big loan in Delhi.
- If the applicant has a healthy relationship with the lender, they may get a loan in Delhi without income proof. Lenders look at the past payments of the applicants to determine their creditworthiness. If someone has repaid the past loans timely to the same lender, they may get a new loan quickly without income proof.
Meet the Eligibility Norms for Loans in Delhi
When someone does not have income proof, they should try to meet the other eligibility requirements to improve their loan application. The generic eligibility requirements for loans in Delhi are as follows:
- Applicants should be aged between 21 and 55 years to possess a loan in Delhi without income proof. The age bracket for loans without income proof change from one lender to another.
- One must be a citizen of India to possess a loan without income proof.
- You need to have a dedicated bank account to receive funds from a lender.
Apart from the eligibility norms, applicants also need to provide several documents for getting a loan without income proof. For example, applicants have to submit their bank account statement, PAN card, Aadhar card, and other ID/address proofs. Apart from the creditworthiness, lenders also verify the authenticity/identity of the loan applicant. Therefore, applicants should fill out every information asked in the loan application to boost their acceptance chances and reduce the rejection probability.
Apply online for an urgent loan in Delhi
You don’t have to visit a physical bank in Delhi to possess a personal loan. With a digital lending source, one can acquire a loan in Delhi without moving a muscle. One can even receive the loan amount in their Delhi-based bank account from anywhere via a digital lending platform. So apply online for an unsecured loan in Delhi now!
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