Bank of Baroda Personal Loan Without Salary Slip is possible in 2025 if you can provide alternative income proof, stable banking history, or a credible co-applicant. Discover eligibility, documents, loan features, and approval strategies.
If you’re self-employed, freelance, transitioning jobs, or do not receive a monthly salary slip—but still need a personal loan—Bank of Baroda offers viable financing options with alternate documentation. Whether you want to cover wedding expenses, home renovation, travel, or medical needs, the Bank of Baroda Personal Loan Without Salary Slip can be a suitable path—if you understand how to qualify.
This expert guide explains who can apply, what documents can replace salary slips, how to improve your approval chances, and everything else you need to get your personal loan sanctioned without regular salaried proof.
Why Do Lenders Usually Ask for Salary Slips?
Salary slips serve as formal proof of income and repayment ability. But BoB also understands that not everyone is in formal employment or receives payslips. For such applicants, the bank considers alternative financial documentation, including:
Bank account statements
Income Tax Returns (ITR)
Form 16 or 26AS
Rent receipts or business invoices
GST filings or UDYAM registration
Can You Get a Bank of Baroda Personal Loan Without Salary Slip?
Yes, it is possible to get a Bank of Baroda Personal Loan Without Salary Slip if you meet other eligibility criteria and provide valid substitute proof of income. The bank assesses your financial behavior, transaction pattern, account stability, and credit score to determine repayment capacity.
Eligible applicant types include:
Self-employed professionals (Doctors, CAs, Architects)
Freelancers & consultants
Small business owners with ITR
Retired pensioners
Rental income earners
Agricultural or allied income sources
Commission-based earners (insurance agents, brokers, etc.)
Features of Bank of Baroda Personal Loan 2025
| Feature | Details |
|---|---|
| Loan Amount | ₹50,000 to ₹20 lakh |
| Interest Rate | 10.49% to 16.50% p.a. |
| Tenure | 12 to 60 months |
| Processing Fee | Up to 2% |
| Prepayment Charges | NIL after 6 EMIs |
| Repayment Mode | Auto-debit, ECS, UPI, or NetBanking |
| Approval Time | 24–72 hours post verification |
Alternative Documents You Can Submit Instead of Salary Slip
If you don’t have a payslip, consider submitting any two or more of the following:
Bank Statement (Last 6–12 months)
Reflects regular income, transfers, and account health.
Income Tax Returns (ITR for 2 years)
Proves declared income and financial consistency.
Form 16 or 26AS
Useful if you’re a contractual or previous salaried employee.
Rental Agreements / Rent Receipts
Shows regular rental income if you’re a property owner.
GST Returns / Business Invoices
For business owners and freelancers.
UDYAM/MSME Certificate
Proof of self-employment/business registration.
Pension Statement
For retired government or private sector employees.
Mutual Fund / FD / Asset Holding Proof
Shows financial backing.
Eligibility Criteria for Personal Loan Without Salary Slip
| Criteria | Requirement |
|---|---|
| Age | 21–60 years |
| Minimum Net Monthly Income | ₹15,000 (can be non-salaried) |
| Credit Score | 700+ preferred |
| Financial Behavior | Consistent income/deposits in bank account |
| Co-applicant | Optional but strengthens eligibility |
| Residence Type | Own/rented with valid address proof |
Interest Rates for Non-Salaried Applicants
| Profile | Interest Rate |
|---|---|
| Self-employed with ITR | 12.00% – 15.00% |
| Pensioners | 10.75% – 12.50% |
| Freelancers / Commission Earners | 13.50% – 16.50% |
| Business Owners | 12.00% – 14.75% |
Note: Actual rate depends on CIBIL, income, and bank’s internal scoring.
How to Apply Without a Salary Slip
Option 1: Online Application
Visit BoB Personal Loan Page
Click on “Apply Now”
Enter personal details, PAN, mobile, etc.
Upload alternate income documents (bank statement, ITR, GST, etc.)
Await tele-verification
Receive eligibility and offer
Submit e-KYC and agreement
Disbursal in 24–72 hours
Option 2: Branch Visit
Walk into the nearest BoB branch
Fill up the personal loan form
Submit ID, address, and income alternative proofs
Bank verifies manually
Loan disbursed after approval
Tips to Improve Approval Without Salary Slip
Maintain healthy average monthly balance
File your ITR regularly
Avoid bounced cheques or EMI defaults
Apply with a co-borrower (preferably salaried)
Offer collateral or FD-based loan as a backup
Submit maximum income-related documents
Common Reasons for Rejection
Irregular income pattern
Low or no credit score
Recent loan defaults or overdue accounts
Unverifiable business or income source
Frequent job changes or no fixed address
Alternatives if You Still Get Rejected
Loan Against Fixed Deposit – Up to 90% of FD value
Gold Loan – Quick disbursal against gold assets
Secured Personal Loan – Mortgage or security-based
NBFC Loan Apps – But with higher interest (be cautious)
Co-applicant Based Loan – Apply with spouse or parent
FAQs – Bank of Baroda Personal Loan Without Salary Slip
Q1. Can I get a Bank of Baroda personal loan without salary slip?
Yes, if you provide valid alternate income proof like ITR, bank statements, or rental income documents.
Q2. What is the minimum income required for approval?
At least ₹15,000 monthly net income, even from non-salaried sources.
Q3. Will I get the same interest rate without a payslip?
Rates may be slightly higher than salaried applicants, but depend on CIBIL and documents.
Q4. What if I don’t file ITR—can I still apply?
Yes, but your bank statement and other proof (e.g., GST returns or co-borrower) must be strong.
Q5. Can retired people apply without salary slip?
Yes, pensioners can apply using pension statement and ID proof.
Q6. Is PAN Card mandatory for personal loan without salary proof?
Yes. PAN is compulsory for KYC, CIBIL check, and tax compliance.
Q7. What is the disbursal time for such loans?
Usually within 2–3 working days after document and eligibility verification.
Q8. Will CIBIL score impact loan approval?
Absolutely. A CIBIL score above 700 increases your chances, even without a payslip.
Q9. Can I apply if I earn income from multiple sources?
Yes. Show all income streams via documentation to support your repayment capacity.
Q10. What happens if the loan is rejected?
You can reapply with a co-applicant, try a secured option, or improve documents for next attempt.
Important Links
| Bank of Baroda officials website | click here |
| home page | click here |
| Join WhatsApp group | join here |
Authoritative External Links
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Conclusion
Getting a Bank of Baroda Personal Loan Without Salary Slip in 2025 is possible if you provide alternate proof like ITR, bank statements, or show consistent income through other verified sources. BoB considers the overall credit profile, banking habits, and financial stability rather than just payslips. Whether you’re self-employed, a freelancer, pensioner, or own a small business, you can still access personal financing—especially by applying through a branch with strong documentation or a co-applicant. Prepare well, and approval is within reach.