Personal Loan for Self Employed with No Income Proof

Not opting for a regular job and instead choosing to be self-employed is a choice very few people take. It requires courage to actually be self-employed and self-reliant and take up entrepreneurship.

When you are self-employed, situations might often arise wherein you are required to raise capital. If your venture is not doing well, it is all the more important for you to raise funds and work towards getting capital. You might require these funds for your working capital requirements such as operating expenses, paying your staff, upgrading your office space and even your equipment.

There is never any shortage of things that need to be done, but there is usually a shortage of funds. A personal loan for self-employed is often the best solution. A personal loan, once availed, can be spent as desired towards fulfilling any of the requirements necessary. To avail it though, it is necessary to first check the personal loan eligibility criteria.

Most lenders often offer personal loans only to applicants with a regular source of income as they will be able to comfortably repay the loan amount without any delays. For a lender, knowing that the borrower has a regular source of income reduces the risk of giving the loan.

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However, this is not true for all lenders. Bajaj Finserv Business Loan, available on Finserv MARKETS, can be availed by self-employed persons to access up to Rs. 30 lakh. The process is entirely online and approval can happen in under 3 minutes. The amount is disbursed to your bank account within 24 hours, ensuring quick processing and easy accessibility.

A personal loan can be availed for a range of reasons, apart from meeting a business’ working capital requirements though. Read on to learn about the different situations in which a personal loan could prove useful to you.

1. Clear Dues:
   If you have any outstanding payments due and wish to clear it off at once, you can avail a personal loan that helps you do that. This can pertain to dues accumulated with your credit card purchases or even loans you might have previously taken to support your education.
   
   
2. Medical Emergencies:
   Medical emergencies can creep up on anybody when they are least expecting it. You could be seeking treatment for yourself, your aged parents or any of your relatives. At such times, if you find yourself short of funds, a personal loan is your best choice for quickly taking care of expenses. Medical expenses in India have especially shot up over the last few years and are expected to be hiked further. Checking your personal loan eligibility prior to an unfortunate situation arising lets you be prepared well in advance for any emergencies that might crop up.
   
   
3. Home Expenses:
   All of us make plans of living in a lavish home, with exotic furnishings and the most modern equipment. Regardless of whether or not we are finally able to build our dream home, the home we live in can often run into the need for repairs to damages that have occurred.

4. Travel Expenditure:
   A personal loan for self-employed persons can also be availed to meet travel expenditures. It is important to take breaks from daily hectic work lives and travel with your family or friends to far-off places where you can relax and return rejuvenated. At such times, a personal loan can be extremely helpful since you can use it to have a lavish trip to an exotic location of your choice. You can head to a foreign country and live in the best hotels, eat the best food and even visit all the spots you have always wanted to see.
   
   
5. Marriage Expenses:
   In India, marriage is often a priority within families and is also an important social function. Expenses can include catering and stay for guests, apparel and jewellery. In order to ensure that you have the wedding of your dreams, a personal loan can often be the optimal solution since it lets you plan a lavish wedding in the presence of all your friends and family.

To meet any of the expenses mentioned above, personal loan for self-employed persons is often the best and most trusted solution. A personal loan will let you meet all the expenses comfortably without having to worry about them.

Bajaj Finserv Business Loan, available on Finserv MARKETS, lets you avail a sum of up to Rs. 30 lakh in a short duration and repay it over a flexible timeline ranging from 12 to 60 months. Without the need for you to provide any collateral, this loan can be approved in as little as 3 minutes and the amount can be disbursed to your account within 24 hours. Check your personal loan eligibility by heading to Finserv MARKETS today or by downloading our personal loan app.