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Instant Personal LoanGet quick funds with Aditya Birla Capital Instant Personal Loan
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Aditya Birla Capital LimitedAditya Birla Capital Limited (“ABCL”) is a listed systemically important non-deposit taking Non-Banking Financial Company (NBFC) and the holding company of the financial services businesses. ABCL and its subsidiaries/JVs provides a comprehensive suite of financial solutions across Loans, Investments, Insurance, and Payments to serve the diverse needs of customers across their lifecycles. Powered by over 61,600 employees, the businesses of ABCL have a nationwide reach with over 1,690 branches and more than 200,000 agents/channel partners along with several bank partners.
Nationwide Branches
1,690
No. of Employees
61,600+
Agents/Channel Partners
2,00,000+
Aggregate Assets
INR 5.53 Lakh Cr
Consolidated Lending Book
INR 1.65 Lakh CrCorporate Governance Policies
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Read about InvestingInvestments and their jargon - simplified
Read about Loans and FinancingKnow all about loans and their management
Personal Loan EMI CalculatorEstimate your monthly loan repayments with Personal Loan EMI Calculator
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Experience ConseQuest- A game where your decisions drive your future.
Personal Loan for Self Employed
- Attractive interest rates
- Easy & flexible repayment options
- Easy application process with quick sanctions
What is a Personal Loan for Self-Employed?
A Personal Loan for Self-Employed is a financial solution designed to help entrepreneurs, business owners, and freelancers meet their personal and professional financial needs. Whether it’s for expanding your business, managing unexpected expenses, or upgrading your lifestyle, this loan provides hassle-free access to funds without collateral. With competitive interest rates and flexible repayment options, self-employed professionals can secure the financial support they need with minimal documentation. The loan amount and tenure are tailored to suit the borrower’s income and business stability, ensuring a seamless borrowing experience.
Features of Personal Loan for Self-Employed
Flexible Repayment Options
Choose a repayment tenure that fits your financial planning.
Quick Loan Approval
Get funds disbursed swiftly with minimal documentation.
No Collateral Required
Secure financing without pledging any assets.
High Loan Amounts
Borrow as per your eligibility and business stability.
Competitive Interest Rates
Enjoy affordable EMIs with attractive interest rates.
Reasons To Get a Loan for Self-employed from Aditya Birla Capital
Collateral-free
There is no need to pledge any asset to secure the loan. The funds are sanctioned based on your eligibility parameters—that’s all!
Flexible Repayment Period
Choose a repayment tenure of 84 months to ensure affordable EMIs for easy repayments.
Predictable EMIs
With a fixed interest rate, you can figure out your EMIs and plan your budget for hassle-free repayments
Quick Sanctions
Get the funds transferred to your account within 24 hours of application.
Facility to add a co-applicant
Adding a co-applicant to the Personal Loan for Self-employed can increase your eligibility. You can also get a higher loan amount to meet different needs.
Our Offerings
Different individuals have different needs. That’s why we offer different types of personal loans for self-employed individuals. Here’s what you can get -
Get a collateral-free loan for every type of financial need that you have. Enjoy a flexible repayment tenure to get affordable EMIs.
Get a flexible repayment solution with interest payable only on the amount that you utilise. Save on the interest outgo and get quick funds.
Interest Rates Available for
Loans for Self-employed
Find out the interest payable on the Loan for Self-employed to plan your repayments effectively.
Loans up to 12 months| Loan Type | Interest |
|---|---|
| The Short Term Reference Rate (STRR) | 19.45% p.a. w.e.f.from March 1, 2024 |
Loans more than 12 months| Loan Type | Interest |
|---|---|
| The Long Term Reference Rate (LTRR) | 20.45% p.a. w.e.f. from March 1, 2024 |
Who Can Apply For a Loan for Self-employed?
Find out if you are eligible to apply for a Loan for Self-employed
Salaried
Self-employed Professional
Self-employed Non - Professional
How to Apply for Personal Loan for Self-Employed
Eligibility Criteria for Loans for Self-employed
Are you eligible for a Loan for Self-employed? Check whether you meet the criteria.
Documents Needed
- Proof of identity and address Passport / Aadhaar Card/ Voter's ID / Driving License/ Job Card issued by NREGA / Registration certificate / PAN card (PAN Card only as identity proof)
- Proof of incomeSalary slip for the last 3 months showing all deductions and Form 16
- Bank statement where income is credited Last 6 months
- Proof of other income Last 3 months' salary slips or Salary certificate. Last 6 months' bank statement where salary is credited directly. Latest Form 16
Eligibility criteria
* A higher age limit is applicable at the time of loan maturity.
Fees and Charges for Loans for Self-employed
| Charge Type | Amount |
|---|---|
| Cheque Return charges | ₹500 + GST per instance |
| Default Penal charges | 3% of the pending amount per month |
| Charges for cancellation of Loan | 4% of loan amount disbursed + applicable taxes |
| CIBIL report retrieval fees | ₹100 + GST per instance |
| Charge for Exchanging PDCs / ECS | ₹750 + GST per instance |
| Loan reschedule charges | ₹5000 + GST per instance |
| Stamp Duty | As per Actual if applicable |
| Insurance Premium | As per Actual, if applicable |
| Pre-closure Quote | ₹1000 + GST per instance |
| Any other charges | As per Actual, if applicable |
| Part - Pre-Payment Charges | Charges:
A) Nil Charges - If Part prepayment is equal to 20% of the total disbursed amount in a year B) 3% + GST on Remaining Loan amount - If part payment is greater than 20% of the total disbursed Conditions: A) No pre-payment is allowed in the first 6 months from the date of disbursement B) Part Pre-Payment amount should be equal to OR greater than a total of 3 EMIs. C) Part-prepayment is allowed only once in the first year of loan tenure. |
| Foreclosure Charges |
4% of the Principal outstanding amount + GST
Condition: Foreclosure is allowed only after 12 months from the date of loan disbursal. |
ABC Of Calculators
Your estimated EMI amount
₹ 0Total Interest
₹ 0Total Payout
₹ 0You are eligible for a loan of
₹ 0*EMI @ 9% Interest Rate
₹ 0*
BALANCE TRANSFER LOAN
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Reduced Interest Rates. -
Lower Monthly Payments.
TOP UP LOAN
- Easy application process
- Borrow up to 80% of property value
Different financial needs, different loans, one app - ABCD
For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.
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Range of loan options for different needs
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Quick sanctions and disbursals
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Instant Personal Loan INSTANT PERSONAL LOAN SHORT TERM PERSONAL LOAN LONG TERM PERSONAL LOAN
Customer Satisfaction Stories
Hear from our happy customers what they have to say about their experience with us.
Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.
Aditya Birla Housing Finance Customer
Hyderabad, India
I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.
Aditya Birla Housing Finance Customer
Belapur, India
Call 1800 270 7000 OR write to us at care.finance@adityabirlacapital.com.
For more details, to know your personal loan eligibility, access the product brochure or to set a meeting with our relationship manager.
The information presented on this page is intended solely for general informational purposes and does not constitute financial, investment, or professional advice. This content has not been authored by, nor does it represent an official communication from, Aditya Birla Capital Digital Limited. It is compiled from publicly available secondary sources, which may be subject to change without prior notice. Readers are strongly advised to conduct their own independent research and seek guidance from licensed financial advisors before making any investment decisions. All investments carry inherent risks, including the potential loss of principal. Past performance is not indicative of future results.
FAQs on Loans for Self-employed
Yes, you can apply for the loan as Aditya Birla Capital offers loans for both self-employed professionals and non-professionals.
If you fulfil the eligibility criteria specified for the loan, you will be eligible to apply.
There is no income criterion for personal loans for self-employed. You should have a steady source of income to qualify for the loan.
The maximum loan amount depends on your eligibility parameters. You can use the online eligibility calculator to determine your maximum loan amount.
Yes, your credit score is an important criterion when applying for a loan for self-employed. It should be 750+ to get the loan sanctioned. Moreover, you can get lower interest rates and favourable loan terms if you have a high credit score.
You can get a personal loan for self-employed people as soon as possible because the loan involves a simple application process with minimal documentation.
No, personal loans for self-employed individuals are unsecured and do not require collateral security.
Yes, KYC documents are an important part of the documentation process and are needed for sanctioning the loan.
Income proof is a mandatory document for self-employed people to get a personal loan. As such, it is not possible to get a loan without it.
Yes, you can prepay or foreclose your personal loan. Part prepayment is allowed after the first 6 months, while foreclosure is allowed after 12 months. Both prepayment and foreclosure would attract relevant charges.