No Salary Slip? Secure a Personal Loan with These Alternative Documents.

• Personal loans are available for individuals without salary slips, including self-employed and freelancers.
• Alternative documents like bank statements, ITRs, GST returns, and proof of rental income can be used to show repayment capacity.
• A good credit score (750+), stable employment history, and a favorable debt-to-income ratio are important for approval.
• Digital lenders, NBFCs, and some private banks accept these alternative documents, focusing on cash flow and credit history.
• Risks include high interest rates, penalties for late payments, and potential negative impact on credit score.

Why It Matters: It empowers non-salaried individuals to secure personal loans.