At present, people take loans from banks when they need money. Some documents are required for this. These also include giving ITR information. Let us know whether those people can get a loan who do not file ITR.
A person needs money for many tasks in life, but he does not have money. In such a situation, banks are their support and they take loans as per their need. These include personal loans, home loan, car loan, business loan, auto loan, and many other types of loans.
All banks give loans to people at different interest rates. Some documents are required for this. These also include giving ITR information, because only after this the loan is approved.
ITR is a certificate of income of a person. It contains all the sources of people's salaries. Many banks give loans to someone on this basis only.
In such a situation, many people have questions in their mind about whether they can get a loan without an ITR. So for your information, let us tell you that this does not happen. Even if a person does not file an ITR, he can get a loan. For this, first of all, your CIBIL score should be better.
Many banks give loans based on the CIBIL of the person without an ITR file, while many banks may ask for collateral for a personal loan. In this the person has to pledge something. Only after this, the loan is available.
(PC: ISTOCK)
