If you are looking for the Best Instant Loan App Without Salary Slip in India, you have many options.
You may often need an Instant loan to meet your personal needs, but it may take a lot of time to get a loan from banks and financial institutions.
In such a situation, some apps come in handy that NBFCs registered by RBI, and those apps provide quick and easy loans for short periods, without the need for salary slips.
You should also be aware of the risks and drawbacks of these apps. Here, we will tell you about the features, benefits, and charges of an Instant Loan App without Salary Slip.
Best Instant Loan App Without Salary Slip
| Article Topic | Best Instant Loan App in India Without Salary Slip |
| Interest Rate | Competitive Interest rate starting from 15% per annum. |
| Loan Amount | Rs 1,000 to Rs 50,000 |
| Tenure | 62 days to 24 months |
| Application Process | 100% digital Process (Online) |
| Collateral | No Collateral required |
| Age | Minimum age required is 21 years. |
Top Features and Benefits of Instant Loan App without Documents
There are some advantages and disadvantages of taking an Instant personal loan, which help you decide whether you should take the loan or not. Some of the benefits associated with this loan are mentioned below.
Digital Process: NBFCs (Non-Banking Financial Companies) offering instant loan applications keep the loan application process fully digital for their customers. This process makes it possible to apply for a loan and receive the loan amount in the bank account.
Collateral-Free Loan: Basically, an instant personal loan is an unsecured loan. Hence, you do not need to provide any collateral to avail of this loan.
Quick Eligibility Check: The process of applying for a loan is fully digital. Non-banking financial companies provide an online facility to customers to check their loan eligibility, so you can know in just 5 minutes whether you will get the loan or not.
Without salary slip: In most cases, you need a salary slip to avail of the loan, but some financial institutions provide you instant loans even without a salary slip. In such a situation, you provide other income proof instead of a salary slip.
Quick Disbursement: Getting the loan amount on the digital platform is as easy as the loan application. After applying for the loan, the loan amount is transferred to your bank account within a few hours.
5 Best Instant Loan App without Salary Slip in India
Now I will provide you with some company reviews, which are providing instant loan facilities without salary slips to their customers.
The companies we will mention are not recommendations. You should use your thinking and understanding and apply for the loan only after reading the terms and conditions of the company.
Kreditbee Instant Loan App Without Salary Slip
The Kreditbee application is a good option that can provide you with instant loans without a salary slip. For those who want a personal loan for their needs, Kreditbee offers small credit loans up to Rs 50000 at reasonable interest rates.
If your CIBIL score is below 750, you may have to provide income proof such as your Income Tax Return, Saving Account Statement, etc.
| Loan Amount | Rs 1,000 to 4 lakhs |
| Interest Rate | 15% to 29.95% p.a. |
| Loan Tenure | 62 days to 24 months |
| Processing Fee | Processing fees range from ₹85 to up to 6.5% of the loan amount. |
Nira Personal Loan
Nira is an Indian consumer finance business that provides small loans to low-income salaried individuals. You can apply for the loan through the NIRA app and get approved in 3 minutes.
The loan would be similar to a credit card, where there is a pre-determined limit that you can use the loan for any purpose, such as medical emergencies, education, travel, or shopping.
NIRA Personal Loan is an RBI-compliant loan app that operates in more than 5,000 locations across India.
| Loan Amount | Rs 5,000 to Rs 1,00,000 |
| Interest Rate | 24% to 36% per annum. |
| Loan Tenure | 3 to 12 Months |
| Processing fee | On an average 750/- |
InCred Finance
Incred Personal Loan is a loan product offered by Incred Financial Services Limited, a non-banking financial company (NBFC) that offers a variety of loans to individuals and businesses in India. To take a loan up to Rs 50,000, you do not need to provide income proof.
You can apply for an InCred Personal Loan through the InCred app or website and get instant approval and disbursement.
| Loan Amount | Rs 50,000 to 10 Lakhs |
| Interest Rate | 16% to 36% per annum |
| Tenure | 12 to 60 months |
| Processing fee | Minimal 2% to 5% |
True Balance Personal Loan
With True Balance, you can get an instant personal loan of up to Rs 50000 without a salary slip. It is trusted by over 75 million users across the country.
Enjoy a better borrowing experience with you when you apply for a personal loan. The interest rate for a True Balance Personal Loan starts from 2.4% per month and goes up to 3.9% per month depending on your credit score, income, occupation, and other factors.
| Loan Amount | Rs 5,000 to 1,00,000 |
| Interest Rate | 2.4% to 3.9% per month |
| Tenure | 3 to 6 months |
| Processing Fee | 5% to 15% on the loan amount |
Money View Instant Loan App without Salary Slip
Money View is one of the best instant loan apps in India without salary slips because of its quick and easy process, minimal documentation, flexible repayment options, and user-friendly features.
You can apply for a loan amount ranging from Rs 5,000 to Rs 10 lakhs, depending on your eligibility and credit profile. You can also track your loan status and repayment schedule online through the app or website.
| Loan Amount | Rs 5,000 to 10 lakhs |
| Interest Rate | Interest rates starting from 1.33% per month (16% annually) |
| Tenure | Up to 60 months |
| Processing fee | Starting from 2% of the approves loan amount |
Eligibility Criteria for Instant Loan App without Salary Slip in India
- The applicant must be a citizen of India.
- At the time of applying for the loan, the age of the applicant should be between 21 to 57 years.
- To take a loan without a salary slip, the CIBIL score should be 750 and above.
- The Applicants must have a monthly income source.
Documents Required for Instant Loan App without Salary Slip
To avail of an Instant personal loan, you need to provide the necessary documents, but due to a low credit score, some additional documents may be required, which are mentioned below.
- Pan Card
- Aadhar Card Should be linked with a Mobile Number.
- Address Proof: Any one of the documents – Passport, Aadhar Card, Voter ID Card, Driving Licence.
- Identity Proof: Any one of the documents – Passport, PAN Card, Ration Card, Aadhar Card, Voter’s ID Card, Driving Licence.
- Income Proof: Last Six months’ bank statements, Income Tax Returns, etc.
FAQs Related to Best Instant Loan App in India Without Salary Slip
How can I Get an Instant Loan without Salary Slip?
Taking an Instant loan without salary slip is a bit difficult but it can be achieved with some lenders but such loans may attract higher interest. If you submit separate income proof instead of a salary slip, then you can easily get the loan.
How to get an instant loan of Rs 50,000 without salary slip?
To take an Instant loan of Rs 50000 without salary slip, you will need some other income proof like an income tax return, and the latest bank statement. You can also get an instant personal loan of Rs 50,000 without salary slip by providing collateral.
How to get a loan of Rs 2 lakh without salary slip?
InCred Finance provides the facility to its customers that they can get a loan of up to Rs 2 lakh by completing their KYC process without providing any documents, but it is necessary to provide bank details to get this loan.
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