Can You Get a Loan With Low Income?
Yes, you can. While many traditional banks require a minimum monthly income of ₹25,000+, Vizzve Finance and other modern digital lenders now offer personal loans to individuals earning ₹12,000–₹20,000/month—even without salary slips.
How to Get a Loan Under ₹20,000 Monthly Income
1️⃣ Choose the Right Loan Provider
Traditional banks may reject low-income applicants. Opt for:
✅ Fintech lenders like Vizzve Finance
✅ NBFCs with relaxed eligibility
✅ App-based instant loan platforms
2️⃣ Build a Solid Application
Even if your income is below ₹20,000, ensure:
🔐 Clean bank transaction history (no frequent bounces)
📱 Mobile-linked Aadhaar and PAN
🏦 Active savings account with regular credits
💳 Optional: UPI, gig payments, or income screenshots as proof
3️ Borrow Small, Repay Smart
Start with a small loan (₹5,000–₹20,000) and repay on time to:
📈 Build credit score
🔄 Qualify for top-up or higher limits later
💡 Vizzve gives top-up loans after 1–2 successful repayments.
Tips to Improve Your Approval Chances
✅ Apply for shorter tenures (30–90 days)
✅ Opt for auto-debit EMI setup
✅ Avoid applying to too many lenders at once
✅ Maintain at least ₹100 in your account for disbursal
Why Vizzve Finance Works for Low-Income Earners
💰 Loans from ₹1,000 to ₹50,000
🚫 No salary slip? No problem!
🔍 Smart approval using bank statement & digital footprint
⏱️ Approval in 2 mins | Disbursal in 15–30 mins
🙋 Works for part-time workers, gig earners, delivery agents, and homemakers
FAQs
Q1. What’s the minimum income to apply on Vizzve?
₹12,000/month is the typical minimum, but exceptions are possible with stable bank transactions.
Q2. Can I get a loan without Form-16 or salary slip?
Yes. Upload your bank statement or digital earnings proof (e.g., gig payments).
Q3. How fast is the loan process?
You can get funds within 15–30 minutes, if all documents are verified.
Q4. Is a co-applicant required?
No. But adding a co-applicant with income may increase approval chance and reduce interest rate.
Published on : 24th July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed