If I don’t have a job, can I still get a loan? Yes. Many personal loan lenders are willing to consider other sources of income. If you don’t have income, you may be able to qualify for a loan based on your assets.
Correspondingly, can I borrow money if I am unemployed?
But, can you get a loan if you are unemployed and have no regular income? Yes, you can get a loan even without a job. Many lenders in India offer loans to applicants who do not have a job. Of course, the terms and conditions for such loans are different from loans than the loans provided to income earners.
Furthermore, can you get a home loan without a job?
One way you might be able to qualify for a mortgage without a job is by having a mortgage co-signer, such as a parent or a spouse, who is employed or has a high net worth. … Essentially, if you can’t make your mortgage payments, your co-signer will be on the hook for them.
How can a housewife get personal loan?
Housewives can submit securities like gold, property or fixed deposit on their name to get a loan against such possessions. These are called secured loans that you can get without having to show any income proof. There can be some housewives earning while working from home.
Here are some other sources that an unemployed person can claim to qualify for a loan:
- A job offer and acceptance letter.
- A retirement account or pension.
- Child support.
- Dividend payments or other investment income.
- Partner income.
- Royalty payments.
- Side gigs or a business startup.
Personal Loan for Unemployed Person in India
- Gold Loan. If you are unemployed who is in urgent need of a loan, going for a gold loan is an ideal choice. …
- Education Loan. …
- Secured Loans. …
- Star Mahila Gold Loan Scheme. …
- Pradhan Mantri Mudra Yojana for Women. …
- Gold Loan. …
- Prime Minister Rozgar Yojana. …
- Loan Subsidy Scheme.