How to Apply for Personal Loan Online Without ITR and Income Proof?

Personal Loan Online

A personal loan is one of the most beneficial ways to get immediate funds for numerous purposes without exhausting your savings. Personal loans are an excellent help for emergencies. The eligibility for a personal loan may differ depending on the person’s occupation. However, different lenders offer a personal loan online with minimum details and requirements.

A self-employed individual often has to go through a lengthy personal loan application and documentation procedure to qualify for a credit line. Self-employed people are unlike salaried people as they have different regular incomes and may pose a significant risk to a lender. Therefore, they must submit their income proof or ITR to obtain a personal loan. But people without an ITR or income proof can also easily apply for a personal loan. However, this guide will help you know how to apply for a personal loan without ITR and income proof.

Ways to Apply for Personal Loan Without Income Proof or ITR

To avail of a personal loan immediately, you need to fulfill the essential eligibility criteria mentioned by the lender, including providing income proof. However, by following the tips, you can also apply for a personal loan for various reasons, even without having an ITR for income proof.

  • Makeup All Your Credits

You can quickly get your loan approval without providing an ITR if you have a good credit history. For instance, if you have a credit card, you should have a record of paying all your dues on time without default. It will reflect a good impression on the lender.

  • Go with a Secured Loan

A personal loan is an unsecured type of loan, meaning an applicant does not have to submit any asset to get funds. However, self-employed people can only get a loan with ITR and income proof by offering collateral to secure their loan from the loan provider.

  • Maintain a Good Credit Score

Loan providers feel more confident about paying loan EMIs when an individual has an excellent credit score. If you have a low credit or CIBIL score, there is a high chance of getting loan approval rejected, or your lender may offer you a loan at very high risk.

  • Maintain a Good Relationship with Your Loan Provider

If you have a good relationship with your existing bank or financial intuition you may have a better chance of obtaining a personal loan without income proof. You may also not be required to offer ITR documents to your loan provider based on your relationship with them.

  • Co-Applicant or Guarantor

Applying for a personal loan online with a co-applicant or guarantor increases the chance of getting loan approval. It can also help an individual get a higher loan with desirable interest rates, as a loan provider will consider guarantor repayment ability.

  • Income from Other Sources

If you have another income source, including parental income, rental income, or interest income from any investment, you must mention it to boost your repayment capability and highlight the other source of income in your application.

How to Apply Personal Loan Online?

By following the above tips, you can easily apply for a personal loan online even without having any income proof and ITR. However, the following are the easiest online ways to apply for a personal loan.

  • Visit your desirable bank or financial institution’s online portal.
  • Choose a personal loan from the home screen and click on the Apply Now option.
  • Then you will navigate to the personal loan application form, where you have to mention all your loans and follow the instructions.
  • Enter your mobile number and wait for OTP to verify your number.
  • Use your credit score to fulfill the loan eligibility.
  • Enter your amount and click on the proceed button to get your loan approval.

Wait for your loan provider’s call; after loan verification, the lender will disburse your loan amount directly to your bank account.


With the tips mentioned above you can quickly get a personal loan without ITR and income proof. Moreover, to improve the chance of getting a personal loan approval without any income proof, make sure to meet all the other eligibility requirements and provide all other necessary documents to accomplish your lender’s requirements.

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