PERSONAL LOAN FOR SELF EMPLOYED

What if you are not salaried? Well, being non-salaried cannot stop you from fulfilling your dreams or financial obligations. What lenders require is borrower’s source of income,whether the income comes from a regular salary or from running your own business. 

Most lenders easily offer personal loan to self- employed. Personal loans for self-employed, just like a normal personal loan has no restrictions in its end-use. Therefore, you can easily go for it.

At Mantra, we want to ensure that you have a completely smooth and hassle-freeexperience right from the processing of your loan application to complete disbursal.

Let us explore and find out some of the unique features and benefits that comes along with this loan for the self-employed:

UNIQUE FEATURES AND BENEFITS OF PERSONAL LOAN FOR SELF EMPLOYED

  • No restriction on its end-use
  • Attractive Interest Rates
  • Simple documentation process
  • Quick approval and fast disbursal
  • Flexible Loan Repayment Tenure: Lenders offer flexible tenure starting from 12 months up to 60 months
  • Simple and flexible loan repayment options
  • Online application and payment options available:Since Mantra is a hub of loans, we can provide you lenders where you can apply directly online and have a hassle -free experience.
  • Security or collateral free loan

ELIGIBILITY CRITERIA

Work profileSelf-employed with a minimum turnover as per the policy of the Lender.
Eligible Age21 years to 60 years
Minimum Income for Loan EligibilityFor self-employed: a minimum yearly profit after tax determined based on profession/industry
Work Experience Required1 year
Minimum CIBIL Score700 and above.
IncomeMost lenders prefer income of Rs. 20,000 and above.
Interest Rate Interest rate starts from 10.99% (may differ from lenders to lenders).
Loan amount Up to Rs. 45 lakhs (amount may vary according to lenders).
Loan tenure Up to 60 months.

DOCUMENTATION

Identity ProofAadhar CardPassportDriving LicenseVoters ID PAN Card
Address Proof:PassportAny utility bills Aadhar Card
Income & Bank Statement:Income tax PAN copy Audited financial statements, Form 16, and income tax returns Latest bank statement of 6 months and other supporting documents  
Additional Documents:Proof of business registration/incorporation VAT returns and GST registration number (The additional documents requirement may vary from lender to lender).