Personal Loan for Self Employed Without ITR Access Quick Loans Without ITRs Self-employed individuals often face challenges in securing a personal loan for self-employed without itr due to the lack of traditional income proof, such as Income Tax Returns (ITR). Recognizing this gap, financial institutions have introduced solutions tailored for such individuals. One such offering is the Micro Loan Against Property (Micro LAP) by Aditya Birla Housing Finance, designed specifically for self- employed individuals without the requirement of ITR documentation. INTRODUCTION Traditional lending institutions typically require comprehensive financial documentation, including ITRs, to assess an applicant's creditworthiness. This poses a significant hurdle for self-employed individuals who may not have formal income proofs. Consequently, many deserving applicants are denied access to credit, limiting their growth and financial stability. Key Challenges of Being Self- Employed Introducing Micro LAP Aditya Birla Housing Finance’s Micro LAP is a tailored loan solution designed for self-employed individuals, enabling them to unlock funds using their property as collateral— without the requirement of submitting ITRs. This initiative seeks to close the credit gap and empower entrepreneurs, small business owners, and other self-employed professionals by offering easy and accessible financing options. Key Features of Micro LAP 1. No ITR Proof Required: Applicants can avail loans without submitting Income Tax Returns. 2. Loan Amount: Up to ₹75 Lakhs, depending on the property's market value. 3. Loan-to-Value Ratio: Financing up to 70% of the property's market value. 4. Tenure: Flexible repayment options with loan tenures extending up to 240 months (20 years). 5. Simple Documentation: Streamlined process with minimal paperwork. Eligibility Criteria To be eligible for the Micro LAP: Ownership of Property: The applicant must own a residential or commercial property. Self-Employment Proof: While ITR is not required, proof of self-employment or business existence may be necessary. Age Criteria: Applicants should meet the age requirements set by the lender. Creditworthiness: A satisfactory credit history can enhance loan approval chances. Documentation Required Even without submitting ITRs, applicants are required to provide the following documents: Identity Proof: Aadhaar Card, PAN Card, or other valid identification. Address Proof: Utility bills, rental agreements, or similar documents. Property Documents: Title deed, property tax receipts, and related papers. Bank Statements: Recent statements to reflect financial transactions. No ITR Requirement: Self-employed individuals can access funds without needing income tax returns. Quick Access to Funds: Simplified documentation ensures faster loan approval and disbursal. Leverage Property Assets: Property owners can unlock the value of their assets to meet financial needs. Empowers Entrepreneurs: Supports small business owners and self-employed professionals with flexible financing. Bridges Credit Gaps: Provides an alternative funding solution for those underserved by traditional loans. Benefits of Micro LAP Application Process 1. Submit Inquiry: Start by expressing your interest in the Micro LAP loan through the Aditya Birla Housing Finance website or branch. 2. Document Submission: Provide the required documents, including identity proof, address proof, property papers, and recent bank statements. 3. Property and Eligibility Verification: The lender evaluates the property and reviews your financial background to determine eligibility. 4. Loan Approval: Once verification is complete, the loan amount and terms are approved. 5. Disbursal of Funds: After approval, the sanctioned funds are disbursed to your account for use as per your needs. 1800 270 7000 homefinance.adityabirlacapital.com care.housingfinance@adityabirlacapital.com