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There is a common misconception that all home loan lenders require salary slips. And this misconception can hinder many individuals from owning a home. Whether you are self-employed, a daily wage earner, or receive your monthly salary in cash, you have multiple options to secure a better home loan. Thus, you may need to meet other specific criteria to demonstrate your ability to repay the home loan. To learn more about this borrower-friendly home loan, continue reading. Read more to receive information on alternative documentation for a home loan without a salary slip, its eligibility criteria, applicable interest rates, other pertinent fees, and more.
The following are the features and benefits of a home loan without a salary slip:
The following are the typical eligibility criteria for a home loan without a salary slip:
The following are the fees and charges for a without salary slip home loan:
Let’s take a look at a list of interest rates offered by various banks for a home loan without a salary slip:
| Lenders | Interest Rate (p.a.) |
| SBI | 8.60% onwards |
| Magicbricks | 8.45% onwards |
| Bank of Baroda | 8.40% onwards |
| Punjab National Bank | 8.45% onwards |
| Bank of India | 8.30% onwards |
| UCO Bank | 8.45% onwards |
| HDFC Bank Ltd. | 8.75% onwards |
| ICICI Bank | 8.75% onwards |
| Axis Bank | 8.70% onwards |
| Federal Bank | 8.80% onwards |
| Bandhan Bank | 9.16 onwards |
| Dhanlaxmi Bank | 9.35% onwards |
The following are the available tax benefits you can avail of regarding a home loan without a salary slip: