Are you self-employed and wondering whether you can take a Personal Loan?
Self Employed Professionals are sole proprietors of their business. They do not draw a fixed monthly salary, but are the owners of their businesses. Self-employed individuals, businessmen, shop owners and many other similar to them can avail personal loans, just like salaried individuals.
How can a personal loan be used for self-employed individuals?
Wedding or Vacation
Home Renovation
Business Expansion
Multi Purpose Use
Features and Benefits
Easy to apply
Flexibility
Minimum documents
Collateral Free Loans
Quick disbursal
Documents required
ID Proof : Aadhaar card, PAN card, Voter ID card, Driving license, Passport, etc.
Address proof : Utility bills, PAN card, Aadhaar card, Voter ID card, etc.
Business Proof : Proof of business existence, Incorporation certificate, Registration certificate, existing liabilities.
Income Proof : ITR, annual turnover, etc.
Eligibility Criteria
Credit Score : Good credit score is important as these loans are unsecured.
Age : The age limit is usually between early 20's to 70*
Business Vintage : Usually more than 2-3 years.
Annual Income : according to eligibility criteria set by the bank
All proofs of self-employment/business
Read more about how to improve the credit score here : https://www.myrupaya.in/post/how-to-improve-credit-score-a-simple-guide?locale=en
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