Need personal loan. I have no ITR though


I am a Govt Teacher with salary of Rs 17500 per month. Can I get a personal loan of Rs 3-5 lakh. I have an agricultural land and own house… But no ITR as my salary is non-taxable. Please guide.


ITR is one of the basic and important documents, which is considered as an income proof to know the repayment capacity of a loan applicant. CIBIL has made ITR as a mandatory income proof document to check the loan eligibility of a person. In that case, you can submit Form-16 from your employer. Returns assessed for previous financial year should be submitted in order to get a loan. If you cannot furnish ITR or Form-16, then banks will not grant a personal loan. However, you can try to avail loan against property, since you have a own house. The interest rates for loan against property are much lower than the rates offered for personal loan.



Most banks do not require your income tax return if you are looking to avail a Personal Loan. However, they will need your salary slips, bank statements, proof of identity and proof of address. Most banks ask for the below documents.

Proof of identity
 Passport
 Driver’s license
 Voter ID
 PAN Card

Residence or Address Proof
 Passport copy
 Any utility bill such as electricity or water bills
 Rental agreement
 Ration card

Employment Proof
 Certificate of employment from the current organisation
 Appointment letter from the organisation
 Certificate of experience
Proof of Income
 Salary slips from the last 3 months
 Form 16

Bank Statements
 Last 3 – 6 months bank statements of the account into which the salary is credited

 At least 2 passport-sized photographs. Completed and signed application form with all the relevant details filled in

Want to check your eligibility for a Personal Loan? Click here.

BB Expert