Home Loan without Salary Slip: There are crores of people in the country who do not have a job and neither do they pay income tax. In such a situation, if these people want a home loan from the bank, then what should they do? Most of the people believe that bank does not give loan to such applicant, but it is wrong, they also get loan. Just a little process is different, let’s know.
Every person takes a loan from the bank to build or buy a house. People who are employed and who file income tax returns get loans easily, but those who do not have a job and do not even fill ITR, those people have to face difficulties for loans.
Many people think that the loan is available only to those who are employed and those who file income tax returns, but it is not so. People who do not file ITR can also get home loan. Actually the bank does the information of ITR to know the income of the applicant.
There are many people doing small business or doing other work in the country, whose salary or income does not come in the tax slab, so they do not file income tax return. Such people also get home loan, just for this a process has to be followed.
While applying for a loan with a bank or NBFC, you can show alternative income certificates other than salary slips. These include ITR, income certificate, account details of your business etc. Through these documents, the bank checks your income and ability to repay the loan amount.
Bank or NBFC always gives loan after looking at the financial condition of every person so that he does not face any problem in paying later.
People who do not file income tax return can directly apply for loan in the bank. Apart from Aadhaar card and PAN card, the bank can also ask for bank account details from the customers, which contain details of your income and transactions. Keeping all these things in mind, the bank approves the loan only on the basis of income.
