3 Lakh Loan Without Income Proof, Salary Slips - Eligibility & How to Apply

For comparison, our table prices an unsecured ₹3 lakh at 14% and 24% a year. A 2% processing fee (₹6,000) plus ₹1,080 GST comes off at disbursal, leaving ₹2,92,920, though interest accrues on the whole ₹3 lakh.

Twelve months at 14% costs ₹30,314 in all. Thirty-six months at 24% runs up ₹1,23,715 of interest and a ₹1,30,795 total cost: you repay ₹4,23,715 for ₹2,92,920 received.

Take a salaried supervisor in Nagpur who needs ₹3 lakh to re-roof the family house. He holds no mutual funds or FD, his LIC policy is too young to carry much surrender value, and his bank's app shows no pre-approved offer. With the secured doors shut, an unsecured app loan is what remains.

The 12-month rows ask too much of his salary: ₹28,368 a month at 24%. Not knowing what rate an app will quote him, he plans on 24 months at the costlier 24% and treats anything lower as a bonus. That plan rules out CASHe, which stops at 18 months. After the ₹6,000 fee and ₹1,080 GST, ₹2,92,920 reaches his account, a little under the contractor's estimate, so he trims the job rather than borrow more. His EMI is ₹15,861, roughly ₹3,660 a week, and he repays ₹3,80,672 altogether: ₹80,672 of interest and a total cost of ₹87,752.

The one check before he signs is the APR in the Key Fact Statement. RBI requires it to fold in every charge, including any insurance the lender bundles in, so an APR well above 24% means costs his budget never counted.

₹3 lakh is the ceiling at FlexSalary and CASHe, and Zype's lender, Respo Financial Capital, states a ₹3,00,000 limit on its own site although Zype's row shows ₹5 lakh.

CASHe stops at 18 months and OLYV at 24, so the 36-month rows fit only FlexSalary, Zype and Stashfin (up to 48). Fees: FlexSalary up to 5% plus GST, Zype 2–6% plus GST, CASHe 2.5–6%, OLYV 2–15%; Stashfin charges 2.85% (platform) and 3% (transaction), each plus 18% GST. APRs in our data: Stashfin 10–45%, Zype 18–34%, CASHe 20–36%, FlexSalary 20–70%, OLYV 18–90%.

Stashfin and Zype require a credit score. Behind them: Vivifi India Finance (FlexSalary), Bhanix Finance (CASHe) and Akara Capital Advisors with co-lenders (Stashfin). OLYV serves partner NBFCs such as InCred and Northern Arc, and RBI's rules make such multi-lender apps show each matching lender's name, APR and EMI.

Missed EMIs on a loan this size reach the credit bureaus. RBI raised the capital lenders hold against unsecured personal loans in November 2023, citing fast growth in consumer credit.

Treat any "₹3 lakh, no documents" ad as a likely fraud: regulated digital lenders must capture your income details before lending. Before sharing KYC, find the app on RBI's published list of lending apps.

Secured loans carry margin risk: if pledged funds or gold lose value, you may have to repay part or add collateral within days. Any digital loan comes with a KFS in a language you understand, a cooling-off exit, disbursal only to your own account, a grievance officer to escalate to and no app access to your contacts.