Some lenders will disburse personal loans without income proof. Here are some tips to get such loans.
Tips to Get Personal Loans Without Income Proof
- Show income from other sources: You can highlight your income from other sources such as rental income, spousal or parental income, or interest from investments in your loan application.
- Have A Good Relationship with the lender: Transacting frequently through a savings or current account in a bank will help in building trust with your current lender. It will help you in getting a personal loan easily.
- Credit Score: A good credit score of 685 or above will help you get a loan without income proof.
- Applying with a guarantor or Co-applicant: This will increase your chances of getting a personal loan and also help you get a higher loan amount. This is because the lender will take into account the co-applicant’s repaying ability.