Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 31 Personal Loan for Self Employed

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 15.99% Fixed
    0.5%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
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    Customer Reviews
    10.99% - 14.49% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Ad
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.99% - 19.8% Fixed
    Up to 2% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 21.00% Fixed
    0 One time fee
    20L Max
    1-6 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13.99% - 16.99% Fixed
    0 One time fee
    20L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless Approval Option Available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    10.99% - 17.99% Fixed
    2.25% (min. ₹1499 + applicable tax) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12% - 18% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free INSTANT DECISION
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    Fees & Charges
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    Customer Reviews
    12% - 19% Fixed
    Up to ₹3000 One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free Paperless approval option available
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    10.70% - 11.70% Floating
    0.5% One time fee
    50 K - 10 L
    1-5 Years
    Response Time Within 30 minutes
    Guarantor Required Paperless approval option available
    What you'll love
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    14% - 33% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11% - 16.49% Fixed
    Up to 2.5%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.75% - 13.75% Fixed
    1% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Rs.1,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    Personal Loan for Self Employed is Rated as "Great!" by 77152 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    Personal loan

    Personal loan is a type of loan where in there are no restrictions as to what the loan amount can be used for by the borrower.The loan amount advanced for personal loan can be used for any personal expenditures including wedding expenses,home renovation,a vacation,medical expenses,cosmetic procedures and other such expenses. Personal loan works like any other loan but it offers more flexibility and is pretty much available to everyone. There are unsecured personal loans and secured personal loans. There is no need for collateral or security with unsecured personal loans.

    Perfect Personal Loan Deals for you

    Personal loan for self-employed

    Self employed individuals are those who own an unincorporated business all by themselves. They are the sole proprietor of the business. Though it might seem like it might be hard for self employed individuals to avail personal loans due to the fact that they are not salaried, that is not the case. They can easily avail personal loans without any hassles. Usually personal loans are granted for salaried,non salaried and self employed individuals. The documentation and interest rate offered for personal loans might be different for a self employed individuals.

    Personal loan from Banks and NBFC for self-employed

    Banks and Non-Financial Banking companies provide Personal Loans to self-employed individuals easily. The difference between the personal loans offered by banks and NBFCs is that banks have stringent rules and some of the banks provide personal loans only for individuals with good credit but NBFCs are more lenient with the requirements when providing personal loans. NBFCs charge a higher interest rate compared to banks when it comes to personal loans.

    Personal loan for self employed with bad credit

    Having a bad credit is never a good thing when one has to apply for loans. A bad credit history can ruin or lessen the chances of getting a good loan.But it is still possible to avail loans with bad credit. Self employed individuals with bad credit score or credit history can avail loans through no credit check loans or secured personal loans. Banks don't require a good credit history for a secured personal loan as there is a collateral that they can bank on. It is a win win for both the lender and the borrower.

    Features of personal loan for self-employed

    Listed below are the features of personal loan for self employed.

    • Competitive interest rates
    • Quick processing of the loan
    • The loan amount can be used for any personal expenditures
    • Flexible tenure periods
    • No collateral
    • Loan amount depends on the repayment capacity of the individual
    • Some banks charge no processing fee for the loan advanced
    • Additional benefits

    Interest rate: The rate of interest offered for personal loans depends on the loan amount and the repayment capacity of the borrower. Different banks offer different interest rates so it's best to shop around before you make a decision.

    Benefits of personal loan for self-employed

    Listed below are the benefits of personal loan for self employed.

    • No restrictions on how the loan can be used
    • Quick approval
    • Option of using collateral
    • Simple documentation
    • Transparency
    • Some banks offer additional benefits like personal accident insurance with the loan
    • Competitive rates

    Disadvantages of personal loan for self-employed

    Listed below are the disadvantages of personal loan for self employed.

    • Higher interest rate compared to other loans
    • No part payments
    • A good credit history is important to avail a personal loan
    • Mandatory bank account
    • Late payment charges apply

    Personal loans for self employed in India

    A self employed individual can avail a personal loan in India with no hassles whatsoever. The loan amount granted to a self employed individual depends on the repayment capacity of the individual. Different banks offer personal loans for the self employed based on different terms and conditions.

    Top 5 personal loans for-self employed in India

    Listed below are the top 5 personal loans for self employed offered in India.

    • ICICI Bank personal loan- ICICI Bank Personal Loan is a multipurpose loan that comes with a fixed interest rate.The loan can be repaid in easy installments and there is no need for collateral or security.It comes with easy documentation and quick processing.
    Eligibility:

    Listed below is the eligibility criteria for ICICI Bank personal loan

    • Minimum age: 28 years(25 for doctors)
    • Maximum age:65 years
    • Minimum turnover:Rs.40 lakh(non-professionals) and Rs.15 lakh(professionals)
    • Stability: In the business for at least 5 years
    • Relationship with the bank: Minimum 1 year of liability relationship or asset relationship

    Interest rates- The rate of interest offered for personal loans for self employed ranges between 11.99% to 20%

    Documentation required:

    Listed below are the documents required for ICICI Bank personal loan.

    • Proof of identity
    • Address proof
    • Audited financials of the recent two years as a proof of income
    • Last 6 months bank statement
    • Office address proof
    • Proof of workplace ownership
    • Proof for continuity of business
    • 2 passport size photographs
    • SBI Saral personal loan-SBI Saral Personal Loan for self employed helps one fund their dream vacation, home renovation or for purchasing an asset. The loan has attractive interest rates and flexible payment terms. SBI Saral personal loan doesn't insist on margin amount.
    Personal Loan Offers

    Eligibility criteria:

    Listed below is the eligibility criteria for SBI Saral personal loan

    • Any self employed engineer, doctor, chartered accountant,architect or an MBA with 2 years standing is eligible.
    • Minimum income amount:Rs.24,000 in urban areas and Rs.10,000 in rural areas
    • Maximum income amount:Nil
    • Repayment term:48 months

    Interest rate:The interest rate offered for SBI Saral personal loan is 8.50% above base floating rate.

    Documents required:

    Listed below are the documents required for SBI Saral personal loan.

    • Passport photograph
    • Identity proof
    • Address proof
    • Proof of business
    • Office address proof
    • Latest 6 months bank statement

    Citibank personal loan-Citibank offers personal loan for the unemployed which will be granted within a span of two days.The loan offers full and part repayment options along with additional funds. It offers loans for terms ranging from 12-60 months.

    Eligibility criteria:

    Listed below is the eligibility criteria for Citibank personal loan

    • Any self employed individual
    • No income proof required
    • Existing citibank customers

    Interest rate:The interest rate offered for Citibank personal loan starts at 14.00% p.a.

    Documents required:

    Listed below are the documents required for Citibank personal loan.

    • Photograph
    • ID proof
    • Proof of residence
    • Proof of age
    • Proof of continuity of business
    • Proof of occupation
    • HSBC personal loan- HSBC Personal Loan for self employed comes with flexible repayment terms and attractive interest rates.The personal loan can be used for any personal expenditure.

    Eligibility criteria:

    Listed below is the eligibility criteria for HSBC personal loan

    • Applicant must have an account with HSBC
    • Should be a resident Indian
    • Minimum age: 21 years
    • Maximum age:65 years
    • Minimum net annual income: Rs.40,000 p.a.

    Interest rate:The interest rate offered for HSBC personal loan starts at 12.99% p.a.

    Documents required:

    Listed below are the documents required for HSBC personal loan.

    • Valid Id proof
    • Valid proof of residence
    • Proof of age
    • Certified financials
    • IT returns of last 2 years
    • Latest 6 months bank statements
    • IDBI personal loan-IDBI personal loan helps meet unexpected financial emergencies. Be it a wedding expense or a luxury trip, IDBI personal loan is there for your aid.

    Eligibility criteria:

    Listed below is the eligibility criteria for IDBI personal loan

    • Minimum age: 22 years
    • Maximum age:60 years
    • Minimum annual average balance: Rs.25,000
    • Minimum annual business income: Rs.2,40,000
    • Minimum tenor:12 months
    • Maximum tenor:60 months

    Interest rate:The interest rate offered for IDBI personal loan ranges at 13.00% p.a.

    Documents required:

    Listed below are the documents required for IDBI personal loan.

    • ID proof
    • Address proof
    • Age proof
    • Proof of business
    • Proof of continuity of business
    • Latest 6 months bank statements
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  • Personal Loan for Self Employed Reviews

    • Standard Chartered Bank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      The Standard charted bank offered me a best rate in regards to my personal loan with the lowest charges. The customer service and the response is average with SCB. They have disbursed the loan within 5 days of time, they made it within the promised time. The required loan amount has been disbursed and I am satisfied with the loan amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • HDFC Bank Personal Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      Basically I have got a text message from HDFC bank to get the personal loan with 11.99 % interest rate, but later when I approached them they have increased the rate of interest upto 12.99% , in case if we need a higher loan amount. The customer service and the response is very much average with HDFC bank. The Hdfc bank need to stick on to their promises.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I got the personal loan within 55 hours of time from Citibank. They have disbursed the loan after submitting my documents. The customer service and the response with CITIBANK is average. The required loan amount has been disbursed. The rate of interest is low when compared with others. I am satisfied with the Citibank service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Standard Chartered Bank Personal Loan
      "Loan rejection"
      0.5 1.5/5 "Bad"
      My personal loan rejected due my resistant address in out of city but i am 7 years customer in SCB bank so pls make loan for out of city customers because this is my salary account so please arrange loan our of city customers otherwise bank is so good and the best think is working time 24*7 this so good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Nice"
      0.5 5.0/5 "Blown Away!"
      The response at Bankbazaar was good and I was contacted on time. The customer services was perfect as they explained all the details to me clearly and processed my information to the banks on time. There were follow up calls too and in all no hassles.
      Was this review helpful? 0
      , chilakaluripet
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Satisfactory service"
      0.5 5.0/5 "Blown Away!"
      I know bank bazaar for past one year. I know about bank-bazaar through google web search. The customer service and the response is very good with bank bazaar. The website with bank-bazaar is easy to use and user friendly. I would like to say bank bazaar gives satisfactory service to the customers.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I haven't got the ICICI bank personal loan, because the executive asked to apply for the loan after 3 months, based on my profile I had a Cheque bounce in my previous product. The customer service and the response is very good with ICICI bank. The rate of interest is nominal with ICICI.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got response well within the time frame from bank bazaar and the bank partner. The customer service and the response is really good with bank bazaar. I get to know about bank bazaar through a referral. I am with bank bazaar for past 2 months. The website of bank bazaar is easy to use and customer friendly. I am satisfied with bank bazaar with the service rendered by bankbazaar.com.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Citibank Personal Loan
      "Rate of interest can be decreased in future"
      0.5 4.5/5 "Excellent!"
      I didn't have any kind of relationship with Citibank so far but I have applied personal loan with Citibank for the first time and I found that they were offering the loan with high rate of interest, so that was the reason I haven't got the loan with CITIBANK. The customer service and the response was good with Citibank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 4.0/5 "Great!"
      Through Advertisements I came to know about bank bazaar. The bank bazaar user interface is really good and bank bazaar website helps us to decide to get the financial products with the best rates in the market. The customer service and the response with bank bazaar is really good. The website with bank bazaar is easy to use and user friendly. I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Average Service"
      0.5 4.0/5 "Great!"
      ICICI bank personal loan was rejected but then they haven't revealed the reason why it got rejected. The customer service and the response need to be transparent in future with ICICI bank. The rate of interest is nominal with ICICI bank. I would say ICICI bank gave a average service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The Response part is very good with bank bazaar , so that was the reason I gave top rating . I get to know about bank bazaar through a friend referral. I am with bank bazaar for past 5 months. The website with bank bazaar is easy to use and user friendly. I would say I am satisfied with bank bazaar service.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I haven't received the personal loan from ICICI bank, the ICICI executives has told that I have already held up with certain EMI with other products, so that was the reason I haven't got the personal loan with ICICI bank. The customer service and the response part is good with ICICI bank. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The customer service rendered by bank bazaar is very good. The way they approach their customers is really good. The explanation given by their executives was really good. I got to know about bank bazaar through google web search. The website of bank bazaar is easy to use and user friendly. In short, I would say bank bazaar offered me a satisfactory service.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      At the start when I approached ICICI bank there was no job stability and that was the prime reason why my personal loan application has been closed. The customer service and the response was good with ICICI bank. The rate of interest is nominal with ICICI bank. I would say ICICI bank offered me a satisfactory service.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Nice Service"
      0.5 4.5/5 "Excellent!"
      I had received proper followups and updates from bankbazaar. They provide a good financial service. Recently I sought their assistance in taking the personal loan. For the service, I got good response from them and they have good web portal to apply for the loan.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • ICICI Bank Personal Loan
      "Better Service"
      0.5 3.5/5 "Pretty good"
      Right from day one I had received a good response from ICICI bank on my personal loan request. ICICI was good in terms of customer service and responsiveness. I never faced any kind of issues with the bank but, I did not take the loan due to the personal issues.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I have got a fairly good services from bankbazaar. They provided a good response on my loan application. I am happy with their way of response and their customer service. I found that the website is good to handle and it is very informative. In all, it is good enough.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • IndusInd Bank Personal Loan
      "Good Response"
      0.5 5.0/5 "Blown Away!"
      I preferred Indusind bank for the personal loan, hence I applied for the loan through third party online source. But I just postponed my plan so I did not take the loan. I had received good response and service from the bank for my loan application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 25, 2017
    • Bank Bazaar Customer Support
      "its easy"
      0.5 4.0/5 "Great!"
      Nice, its very easy to get loan but intrest rates so high. But its OK. In emergency's nothing worried and burdening in banks. Simply applicable from home in just few SEC's.. Its very use full to me. But its good in iff other language provide( Hindi or Kannada). Good web site, good response, good service..
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 25, 2017
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