Applying for a Rs. 50000 loan for self-employed is direct axis easy, as long as you meet some basic requirements. You must be between 21 and 60 years of age, and employed in a public or private enterprise. You must be earning a minimum of Rs. 25,000 in Delhi or Rs. 20,000 in Mumbai. In addition, you must be self-employed for at least three years, and your business should have a certain amount of turnover.
A self-employed personal loan will typically require borrowers to provide a copy of their state or federal identification (driver’s license or passport). The ID should be scanned or faxed to the lender. Alternatively, borrowers can also attach a digital file of their ID to their loan application. While self-employed loans may be more expensive than a regular personal loan, the rates and terms for these loans depend on a number of factors, including your income and debt-to-income ratio.
It’s crucial to provide an ITR to the bank before you apply for a personal loan. Without this, lenders will be unable to determine your repayment capacity. While you may be eligible for a Rs 50000 loan for self-employed, there are other important factors to consider. For example, the amount you can apply for may be higher than the maximum loan amount that a bank will give you. In addition, you should be able to prove that you are earning enough to repay the loan.
A self-employed personal loan can be difficult to get, but it’s not impossible. MyLoanCare offers an easy application process and can help you obtain a Rs 50000 loan for self-employed in a matter of minutes. The application process is simple, and you can finance the loan in as little as three months. Your monthly instalments can be adjusted to fit your budget. The bank’s customer service center can help you make monthly payments.
LendingClub also offers personal loans for self-employed individuals. The company offers up to $50,000 loans on terms of two, three, five, and six years. You must provide your two most recent tax returns to be approved for a loan. If you’re self-employed, you should also provide a digitally deposited check image or a business invoice as proof of recent income. If you have a recent business invoice, this will also be enough to prove your income.
To get the best possible rate for your personal loan, you should always compare different lenders. Depending on your personal circumstances, the rates and terms of different lenders can differ widely. It’s best to shop around for a self-employed personal loan with several different lenders to find the best deal. SuperMoney’s free comparison tool makes the process quick and easy. You can be prequalified within two minutes. If you qualify for a loan, you can apply immediately.