When you have a sudden need for credit, a personal loan can be the answer to your troubles. They are no-questions-asked unsecured loans availed by people for emergencies such as medical expenses, home purchase funds, rent payment, debt consolidation etc. It can be difficult to get an instant loan without payslip, but it’s possible on Navi. You can just download the Navi app to get yourself an instant personal loan without income proof.

Financial institutions usually require borrowers to show that they have credit discipline and funds enough to arrange for repayment. Those who are salaried or self-employed can apply for personal loans, but lenders require showing income proof like salary slips, employer affidavit, income tax returns, bank statement, Form-16, etc. as is applicable to the specific case. Lenders verify the monthly income flow and the sources of income claimed.

Navi’s high-tech platform uses multiple alternate approval procedures and criteria to help you get credit regardless of your income status. You just need to show the availability of funds to repay to avail of a loan without payslips.

Features & Benefits of Personal Loan Without Income Proof 

Navi provides instant credit access with the following benefits:

  • Paperless Application

No hassle of submitting hard copies; all you need is your Aadhar and PAN along with a selfie.

  • Instant Loan Disbursal

Navi’s high-tech loan approval process will allow you to access your borrowed money in your bank account on the same day.

  • No Hidden Charges

Navi is very transparent about all the charges you have to pay. There are no hidden charges for availing instant personal loan online without income proof.

  • Flexible Repayment

You can estimate your monthly EMI and also set your tenure as per your convenience.

  • Avail up to INR 5 Lakh

Whether you need INR 15,000 or INR 5,00,000, Navi can instantly help you get an emergency cash loan.

  • Tech-Enabled Verification

The super-quick verification process happens due to the power of the latest technology driving Navi’s platform.

  • Responsive Grievance Redressal

Sometimes the human touch is necessary to clear doubts. Navi’s customer care is very prompt and keen to resolve all kinds of grievances.

Eligibility Criteria & Documents Required For Loan Without Income Proof

The eligibility criteria to get instant loan without income proof from Navi are straightforward, as follows:

  • You must be an Indian citizen, aged between 18-65.
  • You can be salaried or self-employed.
  • You should have a minimum credit score of 650.
  • You should have sufficient funds to repay the loans on time.

The following documents will be needed:

  1. KYC document- PAN, Voter ID, Aadhar, Driving License
  2. Age Proof- PAN, Aadhar, Passport, Birth Certificate
  3. If you can submit income proof then, 3 salary slips or 3 months bank statements or the latest copy of Form 16 or income tax returns or office registration.

However, it is absolutely possible to get a Navi personal loan without income proof submission.

Tips To Get Personal Loan Without Income Proof 

If you are unable to submit your salary slips or Form 16, then don’t worry. The following tips will let you know what matters in getting a personal loan without income verification:

  • Your Credit History

A strong credit history becomes very important for a successful application of personal loan with no income verification. A credit score of 700 or more may be needed.

If your credit history is not great, then you can improve it by using credit cards, repaying EMIs on time, and maintaining a low credit utilisation ratio. Always repay credit card bills on time.

  • Work with the Lender

When the lender trusts you to repay, you can easily avail of a personal loan without income proof. Always maintain the right minimum balance, repay EMIs timely and get all your credit from the same lender. 

  • Provide Other Types of Repayment Proof

It can be difficult to show regular income proof, especially as a self-employed individual. If possible, you can provide bank statements, proof of rental income or tax returns. Showing regular invoicing or proof of family member’s income or even FD receipts can be acceptable. 

You can always contact Navi for clarification pertaining to your specific circumstances.

For easy and accessible personal credit, download the Navi app and start filling up the details to get your personal loan without income proof. Once you have filled in the details, you can use the EMI calculator to set your payment schedule, tenure and you will know the interest rate.

Frequently Asked Questions

Is there a limit on the amount of instant loan without income proof?

You can get an instant personal loan for any amount up to Rs 5 lakh even without submitting income proofs.

Do I have to pay higher interest for getting a loan without income verification?

Your interest rate depends on your overall application, tenure, EMI choice and credit history. You can use the EMI calculator to estimate your interest rate.

If I don’t have regular salaried income, can I still apply for a personal loan?

Yes, you can apply for an instant cash loan even if you are unable to furnish proof of salaried income. 

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