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How To Get A Home Loan Without Proof Of Income

Home Loan Without Proof Of Income
Jay Kaul
Written by Jay Kaul

No Proof Of Income? No Problem

Incomes are taken into consideration while advancing a loan to any individual. Their monthly incomes act as a source of surety of paying EMIs on time, i.e. the borrower will not default. It helps the bank or any lending institution to know the repayment capacity of the borrower. Housing Finance India has certain norms on the amount of instalments and percentage of income that can be taken as affordable. You can apply for loan to a bank if you have proof of your partial income. Bank accepts receipts’ photocopies as a proof of income, provided that they should not come from unacceptable sources.

However, in cases, where there is no proof of income it becomes an intimidating task to proceed further. Here, government has taken supportive steps to help people have homes even if they don’t have proof of their incomes. The following are the way outs where you can apply for loan without any proof of income.

  • Indira Awas Yojana

Indira Awas Yojana is implemented by the Government of India. It is a flagship rural housing beneficiary oriented programme. It aims at providing houses to poor below poverty line. The poverty ratio and lack of housing are the two factors that will decide the allocation of housing.


  • help in constructing housing units
  • converting kuchcha house into pucca houses
  • is to provide home to widow women headed households, SC/ST households and victims of obscenity
  • to free bonded labourers below the poverty line providing them grant-in-aid

To avail this scheme, person should contact village panchayat or village level worker or BDO or District Rural Development Agency.

  • Housing for All by 2022

“Housing for All by 2022” is the most recent scheme that aims to provide housing for urban areas. It covers the following points as its basic details:

  • rehabilitation of slum dwellers in slum areas with the assistance of private housing developers
  • promoting affordable houses for economically weaker sections in society with the help of credit linked subsidy.
  • building affordable houses under the PPP model
  • for beneficiary-led construction or enhancement of houses, subsidy component to be provided.
  • Basic Minimum Services

In 1997, government launched Basic Minimum Services Scheme to provide seven vital services to common people. Under this scheme, state governments have decided to provide houses to below poverty line households.


  • support in building housing units for members of SC/ST
  • providing non-SC/ST below poverty line households with grants
  • free bonded labour

To avail this scheme, person should contact village panchayat or village level worker or BDO or District Rural Development Agency.

  • Pradhan Mantri Awas Yojana

Pradhan Mantri Awas Yojana was launched by the government of India. It aims to construct 2 crore houses by the end of the year 2022. Each house constructed will be granted Rs. 1 lakh and comes as a subsidy scheme of 6.5% rate of interest. The duration for the house loans may be up to 15 years.


  • number of incentives and subsidies for housing development in urban areas
  • housing for people in low income groups
  • transgender to be provided housing units, they have been ignored for a long time, but not anymore
  • SCs/STs to be provided houses under this scheme
  • houses for urban poor with low income levels

Transgender, SCs/STs, urban poor and low income level groups to be given preference when applying to this scheme. Many housing schemes are to be incorporated under this scheme. To apply for this scheme application forms will be available to the people at desired locations.

About the author

Jay Kaul

Jay Kaul

Jay is a financial and credit expert and freelance contributor to CreditSmart. He's always keeping his eyes open for the latest credit card trends in India and provides a sharp insight on new entries into the market.

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