Kissht: Differences Between Personal Loan for Salaried and Personal Loan for Self-Employed
Personal loans have become an essential financial tool for individuals looking to meet urgent expenses, consolidate debt, or finance lifestyle needs. Platforms like Kissht make it easier to apply for a loan online and access credit quickly. However, not all personal loans are the same, especially when it comes to eligibility criteria and application processes for salaried individuals versus self-employed borrowers. Understanding these differences is crucial for making informed borrowing decisions. 1. Eligibility Criteria The eligibility criteria for personal loans vary significantly between salaried and self-employed individuals. Salaried Borrowers: Banks and lending platforms typically require proof of regular income, such as salary slips, bank statements, and employment verification. A stable monthly income increases the likelihood of approval and may also lead to better interest rates on personal loan online . Self-Employed Borrowers: For s...