Introduction:
Best Instant Loan App In India Without Salary Slip – When we have a financial Emergency, to get instant loans we will choose personal loans. Nowadays all banks and major NBFCs are demanding salary slips to provide instant loans. In this article, we are going to explore the ways to get instant loans and NBFC that provide loans without salary slips.
Ways to Get Best Instant Loan App In India Without Salary Slip
Alternate Proof of Income:
Most lenders require a salary slip but fret not if you don’t have one. You can still secure a loan by providing alternative proof of income. Documents like bank statements, income certificates, or income tax returns (ITRs) can be submitted to demonstrate your financial capacity.
Build a Good Relationship with the Lender:
A strong professional relationship with the lender can sometimes bypass the need for certain documents. If the lender trusts your repayment ability, you may get approval even without a salary slip.
Maintain a High CIBIL Score:
A good credit score (750 or above) showcases your creditworthiness. Lenders may approve your loan based on your credit history, even if you lack a salary slip.
Consider a Secured Loan:
Offering collateral security reduces the lender’s risk, increasing the chances of loan approval without a salary slip.
Apply with a Co-Applicant:
Applying for a loan with a co-applicant, especially one with a good credit score, enhances your eligibility, making it easier to secure a loan without a salary slip.
Top Best Instant Loan App In India Without Salary Slip
1. MoneyTap Loan
- Simple process: Download the app, input details, complete KYC, and access funds swiftly.
- Loan Range: Up to Rs 5 lakhs with flexible repayment tenures.
- Interest Rates: 1.08% to 2.3% per month.
- Unique Selling Point: Secured API ensuring a secure borrowing experience.
2. PaySense Loan
- Wide Range: Loans from Rs 5,000 to Rs 5 lakhs for various needs.
- Inclusive: Approves loans for individuals without a credit history.
- Speedy Process: Quick application, approval, and disbursement.
- Terms: Repayment tenure up to 60 months.
3. Nira
- No CIBIL Score Needed: Instant approvals without the necessity of a credit score.
- Loan Details: Ranges from Rs 3,000 to Rs 5 lakhs.
- Interest Rates: 1.5% to 2.5% per month.
- Convenience: Auto-debit and auto-credit features available.
4. Kissht
- Target Audience: Ideal for students, freelancers, and small business owners.
- Process: QR-based revolving line of credit approved within five minutes.
- Documentation: Only requires an Aadhar card for eligibility.
- Loan Amount: Up to Rs 2 lakhs at competitive interest rates.
5. Smart Coin
- Social Responsibility: Focus on providing small loans to the underprivileged.
- Accessibility: Loans based on PAN and Aadhar cards.
- Short-Term: Repayable between 91 and 270 days.
- Limitations: Loan amounts are restricted for applicants without a CIBIL score.
6. Dhani Card
- Unique Feature: Offers a credit line up to Rs 5 lakhs at 0% interest.
- Special Perks: Access to doctors and cashback on spending.
- Repayment: Three interest-free installments for the loan.
7. mPokket Loan
- Target Audience: Tailored for students and salaried employees.
- Loan Range: Rs 500 to Rs 30,000.
- Process: Quick online approval and disbursement to digital wallets.
- No Bank Account Needed: Suitable for those without a bank account.
8. CASHe Loan
- Simplicity: User-friendly interface with a single approval for multiple loans.
- Loan Limit: Up to Rs 5 lakhs with a starting interest rate of 1.75%.
- Integration: Partners with eCommerce retailers for Buy Now, Pay Later plans.
9. Home Credit
- Documentation: Requires PAN card and ID/address proofs.
- Credit Score Consideration: Extends loans even to individuals without a credit history.
- Repayment: Over 26 months at reasonable interest rates.
10. Money View Loan:
- Technology Integration: Credit rating model for quick loan eligibility checks.
- Loan Amount: Up to Rs 5 lakhs with a 2% monthly interest rate.
- Speed: 100% cashless and paperless procedure with quick disbursal.
Conclusion:
In conclusion, the era of instant loan apps in India has revolutionized the borrowing landscape. These apps, designed for quick approvals, flexibility, and minimal documentation, cater to the urgent financial needs of individuals. Whether you’re a student, salaried professional, or self-employed, these apps offer accessible solutions without a cumbersome salary slip. Choose wisely based on your requirements and begin a swift and convenient borrowing journey.