Personal Loan Without Salary Slip: For Self-Employed in Hyderabad
Self-employed professionals, freelancers, and contractors in Hyderabad often run into a wall: most banks require salary slips, which they don't have. The good news - several NBFCs and a few banks underwrite using ITR + bank statement only.
What Lenders Accept Instead of Salary Slips
| Income Proof | Accepted By |
|---|---|
| Last 2 years' ITR | Most NBFCs, some banks |
| 12 months' bank statement | Almost all lenders |
| GST returns (for businesses) | NBFCs with GST-based products |
| Form 16A (TDS certificate) | Some banks |
| Audited financials (CA-attested) | Banks for amounts above ₹15 lakh |
Top Lenders for No-Salary-Slip Personal Loans
- Bajaj Finserv Professional Loan - for doctors, CAs, lawyers, architects. Up to ₹80 lakh based on profession alone.
- HDFC Bank Self-Employed Personal Loan - accepts ITR + bank statement, requires 2-year business vintage.
- Tata Capital - flexible income proof, decent rates for established self-employed.
- Axis Bank - strong for self-employed with ₹10L+ annual income.
- IIFL Finance, Fullerton - easier approval, slightly higher rates (14–18%).
What You Still Need
- KYC: Aadhaar, PAN, passport-size photo
- Address proof
- Business registration / GST certificate (if applicable)
- Form 16A or ITR for last 2–3 years
- 12-month current account statement
- Office address proof
Typical Approval Range
- Salaried-style approval: not possible; expect "professional" or "self-employed" product
- Indicative amount: 4–6× monthly average bank credits, capped by ITR-declared income
- Indicative rate: 12–18% (vs 10–14% for salaried)
- Tenure: 12–60 months
Practical Tips
- Maintain a single business account with consistent inflows for at least 12 months before applying
- File ITR even in low-income years - gaps in ITR history trigger rejection
- Avoid cash deposits in business account - lenders treat these as unverifiable income
Our team specialises in self-employed loan files - we know which lender to approach for which professional profile.
Disclaimer: The information in this article is for general informational purposes only and does not constitute financial, legal, or investment advice. Interest rates, loan terms, and eligibility criteria are set by individual lenders and subject to change without notice. Please verify current rates directly with the lender or consult a qualified financial advisor before making any borrowing decision. Loans Got Easy is a DSA partner platform - we do not lend money directly.
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