Personal loan for self-employed people
You open the shutter, see the patients, file the returns and chase the invoices. Nobody hands you a salary slip at the end of the month, and nobody should need one to take you seriously.
Your own practice, shop or trade? You can apply for a personal loan of ₹10,000 to ₹2,00,000 on the Rinn app and repay it over 3 to 24 months. Loans come from RBI-regulated lending partners, with no upfront fee, and you see the rate, EMI and every charge before you say yes.
Self-employed personal loan at a glance
- Loan amount
- ₹10,000 – ₹2,00,000
- Interest rate
- From 16% p.a.
- Tenure
- 3 – 24 months
- Age
- 18 – 55 years
- Cost to apply
- ₹0
LenderAn RBI-regulated lending partner, named in your Key Fact Statement.
Can I get a loan if I'm self-employed?
Yes. If you meet the requirements below, you can apply through Rinn.
- How you earnYour own profession, practice, shop, trade or small business.
- Age18 to 55 years when you apply.
- KYCA PAN in your own name and an Aadhaar for e-KYC.
- Bank accountA savings account in your own name.
Important
Meeting these requirements doesn’t guarantee a loan. The lender makes the final decision after reviewing your application, including your income, existing EMIs and credit profile.
Income proof the lender may ask for
The lender tells you in the app which income proof it needs. Until then, keep your recent bank statements handy; they're the record most lenders start from.
Can I get a loan without income proof?
No. You need to show your income in some form, and the lender decides how. A lender that never asks how you'll repay isn't doing you a favour. Why "no income proof" loans are a warning sign →
A personal loan, not a business loan
This is a personal loan in your name, repaid from your income. Rinn doesn't offer business loans, working-capital credit or loans against stock or machinery.
If you need money to run or grow the business itself, such as stock, equipment or working capital, a business loan from a regulated lender is built for that, with amounts and tenures to match.
Plan your EMI for slower months
Some months the counter is busy, some months it isn't. The EMI arrives on the same date either way, so plan it around your slowest month, not your best.
Here's a simple way. Look back over the past year, pick your three leanest months, and average what they left you after the business paid its own bills. Keep your EMI comfortably inside that figure.
| Example | Good month | Slow month | EMI at 16% p.a. | Share of the slow month |
|---|---|---|---|---|
| ₹50,000 over 12 months | ₹40,000 | ₹26,000 | ₹4,537 | about 17% |
| ₹1,00,000 over 24 months | ₹45,000 | ₹30,000 | ₹4,896 | about 16% |
| ₹2,00,000 over 24 months | ₹70,000 | ₹48,000 | ₹9,793 | about 20% |
Illustration at the 16% p.a. starting rate, on a reducing balance, excluding any charges. The lender sets your amount, rate and EMI, and shows them in your Key Fact Statement before you accept.
Try other amounts in the personal loan EMI calculator.
How to apply on Rinn
Apply between customers, from the counter or the clinic. It all happens on your phone.
Step 1. Download Rinn. Get it from Google Play and check the developer is Rinncrest Financial Technologies Private Limited.
Step 2. Tell us how you earn. What you do, what it brings in over a year, and how much would help.
Step 3. Complete your KYC. PAN, Aadhaar e-KYC and a live selfie, inside the app.
Step 4. Share income proof if the lender asks. The app tells you exactly what's needed. Upload it in the app, never by WhatsApp or email.
Step 5. Review your offer. The lender reviews your application within minutes. If it makes you an offer, you see every cost before you accept, and the money goes straight to your bank account.
Before you accept
Your Key Fact Statement shows the loan amount, annual interest rate, EMI, APR, every charge and your repayment dates on one page. Read the date line twice. If your customers pay you in the first week of the month, an EMI due on the 5th is easier to meet than one due on the 28th, after the month's stock is bought.
Nothing can be added later that isn't in your KFS without your explicit consent. If you change your mind after the money arrives, you can exit during the cooling-off period stated in your KFS without a prepayment penalty. Personal loan interest rate and charges →
Which loan app is best for self-employed people?
Look for one that tells you who lends, what it costs and what proof it wants, before you upload anything. Rinn shows the lender's name and the full cost in your KFS before you accept, charges you nothing to apply, and takes repayments only into the lender's account.
No upfront fee, ever. If anyone asks for money to release a loan, it isn't us. Verify it's really us →