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A personal loan is an unsecured debt that can be really helpful in emergency situations or when you need some additional cash to finance your lifestyle needs. Since you do not pledge any collateral for a personal loan, financial institutions usually ask you to provide an income proof. If you are a salaried employee, your salary slip is the easiest income proof that you can furnish. However, if you are self-employed, it might be difficult to produce a salary slip. In this article, we are going to discuss how you can easily get a personal loan without a salary slip.

How to Get a Personal Loan Without a Salary Slip?

If you are unable to furnish a salary slip as a proof of your income, you can try any of the following ways to avail a personal even without a salary slip:

1. Maintain a Good CIBIL Score

As you probably already know, your credit score is the single most important criterion that most financial institutions such as banks and NBFCs consider before approving your loan application. This is even more true for unsecured loans like personal loans. 

Your credit score is a good indicator of your creditworthiness, therefore, if you have a good credit score and a clean credit history without any history of defaults, your loan application might be approved even if you are unable to furnish a salary slip. Thus, with a good CIBIL score, there are chances that you can get a personal loan without income proof.

2. Present an Alternate Income Proof

If you are self-employed or a freelancer, you can produce an alternate document such as an ITR certificate or bank account statement as a proof of income. Most banks and NBFCs would accept these documents as proof of income in place of a salary slip.

3. Maintain a Good Relationship with the Bank

Most financial institutions are more comfortable lending to individuals whom they have an existing relationship with. For example, if you have a savings account with a bank, it might be easier for you to get a personal loan approved from them, even without submitting a proof of income such as a salary slip.

4. Offer a Collateral

While personal loans are unsecured in nature, you can offer to pledge collateral if your loan is being rejected due to the non-availability of the required income documents. However, if you choose to pledge a collateral, you must be extremely careful about the timely repayment of the EMIs as the lender has full right to seize the collateral if you default regularly.

5. Get a Co-borrower Onboard

If your personal loan application is getting rejected because you are unable to produce a proof of income, you can consider applying with a co-borrower. In this case, you will need to furnish the income documents (such as a salary slip, Form 16, ITR certificate, etc.) of the co-borrower. Also, the co-borrower must have at least a decent credit score for the loan application to be approved.


While it might be sometimes difficult to get your personal loan application approved without a salary slip, there are many ways you can get a personal loan without documents. At Bajaj Markets, you can avail personal loans from our partner lenders at affordable interest rates. The application process is also simple and hassle-free and requires minimal documentation.

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