No Salary Slip? Freelancers Can Still Get Personal Loans! Here's How

• Banks and NBFCs now prioritize overall financial health, consistent income, and good credit over just salary slips for personal loans.
• Freelancers need a strong credit score (750+ for better rates), regular bank account fund flow, and properly filed tax returns.
• Eligibility includes 1-2 years of freelancing experience and consistent client payments reflected in bank statements.
• Required documents: PAN, ID/address proof, 6-12 months bank statements, ITR, GST returns (if applicable), invoices for variable income.
• Interest rates for freelancers typically range from 9.9% to 26%, potentially higher than for salaried individuals, plus processing fees.

Why It Matters: Freelancers can secure personal loans by demonstrating strong financial health, consistent income, and good credit.