Instant Personal Loan For Self-Employed Individuals
Get personal loan offer up to Rs.10 Lakh from multiple NBFCs in minutes
Easy Online Process Competitive Interest Rate Minimal Documentation
Apply For Instant Personal Loan Up to Rs.10 Lakh
Self-employment may seem like a great way to make a lot of money and have a lot of flexibility and freedom, but as a self-employed owner, you know that there can be unique financial challenges at various occasions. Under such circumstances, an instant personal loan can give you quick access to funds, enabling you to effectively manage your personal or business finances.
Since time is of the essence in this fast-paced economy, we at Kreditbazar have developed a simplified digital portal that allows you to process your loan with our NBFC partners without having to travel around town. Rest assured, we will make sure you have a stress-free experience throughout the loan process. Find the ideal personal loan solution to meet your financial requirements today!
Competitive Interest Rate
Starting from 11% p.a.
Pocket-Friendly EMI Options
As low as Rs.63/day per lakh
Flexible Loan Tenure
Up to 72 Months
Minimum CIBIL Score
No Min. CIBIL score required
Benefits and Features of a Personal Loan
Personal loans are the go-to financing option to achieve various goals. Whether it's planning a dream vacation, renovating your home, investing in a business, or managing unexpected financial emergencies, a personal loan offers the flexibility and support you need to make it happen. Here are some key benefits of applying for a personal loan online with Kreditbazar.
Easy Application
With the easy online process, applying for a personal loan becomes an easy task, allowing you to eliminate multiple bank visits and monotonous piles of paperwork.
Loan Up to 10 Lakh
You can apply for a personal loan of up to Rs.10 lakh, which could significantly help you achieve your financial goals.
Convenient Repayment Tenure
Choose the loan repayment option that best fits your budget, allowing you to repay your loan without making your pockets heavy.
Flexible End-Use
Personal loans are not required to be used in specific ways, giving you complete freedom to use the funds as you see fit.
No Complex Documentation
Only basic documents like PAN card, Aadhaar card, and Income proof would be sufficient enough to apply for an instant personal loan.
Collateral Free
Personal loans are unsecured types of credit that can be obtained without the need for collateral, allowing you to avail funds without putting your assets at risk.
Calculate Your Personal Loan EMI for Self-Employed Professionals
Use our EMI calculator to plan your loan repayment easily and accurately.
Loan EMI
₹ 24,959
Total Interest Payable
₹ 34,90,279
Total Payment
(Principal + Interest)
₹ 59,90,279
Your monthly instalment:
₹888
Personal Loan Eligibility Criteria for Self-Employed Individuals
Personal loans have eligibility requirements set by lenders. Understanding those criteria before applying for a personal loan will make the process go more smoothly and without delays.
Citizenship
You must be a resident Indian to apply for a personal loan.
Age
The minimum age for applying for a personal loan for self-employed individuals is 21 years.
Income
You should have filed income tax returns for at least a year.
Business Stability
Your business should have been in operation for at least a year
Documents for Your Instant Personal Loan for Self-Employed
Essential Documents for Self-Employed Loan Applicants
Applying for a personal loan for self-employed individuals through Kreditbazar allows you to enjoy a hassle-free online loan process with minimal documentation requirements. Make sure to have all of the necessary documents on hand to speed up the process.
Required Documents for Self-Employed
Proof of Identity
Driver's Licence, Pan Card, Aadhaar Card, Passport
Proof of Income
Bank Statement, Balance Sheet, Profit And Loss Statement, Income Computation, Income Tax Returns
Proof Residence
Utility Bills, Rent Agreement, Property Documents
Proof Of Business Existence
Copy Of Tax Registration, Shop Establishment Proof, Company’s Registration Certificate
Who and How? Let’s have a look!
Personal Loan Rates & Charges
Personal loans are one of the most effective financial tools for pursuing financial goals. However, it is important to understand the interest rates and charges associated with personal loans in order to make an informed choice. Along with interest rates, there are other associated charges that must be understood in order to calculate the total cost of the loan.
When you apply for a loan with Kreditbazar, in addition to the super-convenient online process, you can access cost-effective interest loans. Thanks to our partnership with multiple banks and NBFCs, we make it possible for you to avail the competitive interest rate - as low as 11% p.a.- that best suits your profile and wallet, allowing you to save money and enjoy the affordable EMIs without feeling overburdened.
Here are some of the other charges that are associated with the personal loan for self-employed individuals.
Processing Fee
The process charges are administrative fees that vary among lenders; generally, they range from 0 to 3% of the loan amount plus taxes.
Preclosure Charges
This is completely dependent on the financial institution that lends you the personal loan.
Other Charges
Other charges, such as late payment fees and cheque bounce penalties, may be associated with your loan. We recommend that you carefully read the loan agreement to get the full picture.
Quick & Swift Steps!
Enabling you to traverse our digital delight with pace and ease
Easy Registration
Start off your loan process by sharing your basic details.
Eligibility Check
Access system-generated pre-approved offer based on your details.
Buy Subscription
Proceed with our digital services through our benefits-studded subscription.
Apply via Login Link
Access your loan login link to complete your loan application process.
Tips to keep in mind while applying for a personal loan
Get access to quick and easy loans tailored for freelancers, small business owners, and self-employed professionals. Enjoy a hassle-free process and competitive rates!
Maintain a good credit score
Credit score is an important factor that lenders consider when approving your loan. Having a good credit score can help you negotiate for a lower interest rate and more favourable loan terms.
Assess your Needs
Make a list of your needs and requirements, then calculate the exact loan amount you need to borrow. Avoid overborrowing; it may cause you problems in the long run.
Evaluate Your Repayment Capacity
Prepare for repayment before borrowing. To avoid future financial strain, take into account other financial commitments when calculating how much EMI you can afford to pay.
Keep Your Documents Handy
Gather all of the necessary documents before applying for a personal loan to speed up the process.
Select A Suitable Loan Tenure
While a longer loan term may result in lower monthly payments, you will eventually pay more, and vice versa. Thus, choose a loan term that allows you to pay comfortably while not exceeding your budget.
Why Choose Kreditbazar for Personal Loan
Discover an array of incredible benefits that will bring you closer to your financial goals.
Access to Multiple NBFCs
Gain access to industry-leading NBFCs and apply for a loan with them without negatively impacting your CIBIL score.
100% Online Process
Apply for a personal loan with our NBFC partners using an easy-to-use online portal without leaving your comfort zone.
Minimal Documentation
The required documents for applying for a personal loan with Kreditbazar are minimal and simple, saving you a lot of time and effort.
Competitive Interest Rate
Take advantage of the competitive interest rate, which is designed to make your loan more affordable and cost-effective in the long run.
Flexible Loan Tenure
You can choose the loan tenure that works best for you so that your repayment is completed smoothly and without feeling financially burdened.
Collateral-Free
A personal loan for the self-employed can be obtained without pledging any assets as collateral, lowering the risk of losing your assets.
Super-Easy Process
Our streamlined digital portal makes it easy to process your personal loan with our NBFC partners. It only takes a few simple clicks and you can begin immediately.
Our Happy Customer
We Give Many Reasons For Our Customers To Shower Praises On Us!
"I was so surprised with the service quickness! Self apply is really the best feature here"
"Impressed with the customer support team! They truly get your work done in no time…"
"Just extraordinary…it’s so good to receive the loan applying link within few minutes only"
"Well done Kredit Bazar team, your guidance really makes a big difference. Also services are superb"
"Quick. Professional. Humble – that’s how I define this team. Thanks guys, you’re the best"
"It just went beyond my expectations. Didn’t it’s so easy to start the loan process with Kredit Bazar"
FAQs about self employed Personal Loans
Find answers to common queries about self employed personal loans.
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How can I apply for a personal loan as a self-employed individual?
You can apply online by filling out the application form on the Kreditbazar website. This connects you with partnered NBFCs offering loans for self-employed individuals.
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What documents are required to apply for a personal loan for freelancers?
You will need your PAN card, bank statement for the last 6 months, proof of income (such as invoices or tax returns), and ID/address proof for loan processing.
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Can a freelancer apply for a personal loan?
Yes, freelancers can apply for personal loans provided they meet the eligibility criteria, including stable income and a good credit score.
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Is there a minimum income requirement for self-employed personal loans?
Yes, lenders typically require a minimum annual turnover of ₹5 lakh or more to qualify for a self-employed personal loan
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How can I improve my chances of loan approval as a self-employed applicant?
Maintain a high credit score, ensure consistent income, and provide all necessary documentation. A good credit history and stable business operations improve your approval chances.
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What is the maximum loan amount for self-employed individuals?
The maximum loan amount depends on your income and credit score and bank/NBFC’s policies.
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Can I get an instant personal loan if I am self-employed?
Yes, if you meet the eligibility criteria, you can get an instant personal loan for self-employed individuals with fast approval and disbursement.
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Are there any collateral requirements for a personal loan for self-employed individuals?
No, the personal loans for self-employed individuals are unsecured, meaning you do not need to provide collateral for the loan.
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What is the minimum credit score required for self-employed personal loans?
Most lenders require a minimum credit score of 750 or higher for better loan terms, but some may consider applicants with lower scores.
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Can self-employed individuals get loans for business purposes?
Yes, self-employed individuals can get business loans to expand their business. These loans are typically offered based on your business’s turnover and profit.
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What is the processing fee for a personal loan for self-employed individuals?
The processing fee for a self-employed personal loan typically ranges up to 3% of the loan amount plus applicable GST.
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How does my business turnover affect my loan eligibility?
Your business turnover is a key factor in determining loan eligibility. A higher turnover typically means a higher loan amount and better terms.
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Can self-employed professionals apply for a loan even with a low credit score?
Yes, but a low credit score may result in higher interest rates or lower loan amounts. Some lenders may approve loans based on other factors like income and business stability.
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Are there any tax benefits for self-employed personal loans?
Personal loans do not offer direct tax benefits. However, if the loan is used for business purposes, you may be eligible for deductions related to business expenses.
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What is the interest rate for personal loans for self-employed individuals?
The interest rate for personal loans for self-employed individuals varies between 10% to 24%, depending on your credit score, business turnover, and loan amount.
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Can self-employed individuals apply for a personal loan without collateral?
Yes, personal loans for self-employed individuals are unsecured, meaning you do not need to provide collateral to apply.
