If you run a shop, work as a freelancer or drive your own cab, you have probably searched for an instant loan for self-employed people. Many apps and ads say "everyone is eligible". We'd rather give you a straight answer: Quick Loan is only for salaried people. This guide explains why, and what options self-employed people usually look at instead.
Can self-employed people get a quick loan from Quick Loan?
No — not this product. Quick Loan is a short-term loan of ₹2,000 to ₹30,000 that is repaid in one go on your next salary date, 15 to 45 days later. The lending partner offers it only to:
- Salaried employees aged 21 to 58, with the salary paid into a bank account
- CIBIL score 700 or more
- No late EMI or card payments in the last 6 months
For salaried people the process is simple: only PAN card + Aadhaar card, no other documents, 100% paperless.
We say this up front so you don't spend time on an application that will not be approved, and so you don't get extra loan enquiries on your credit report for nothing.
Why are salary-day loans only for salaried people?
The whole idea of a salary-day loan is that the repayment date is matched to a fixed monthly salary credit. A self-employed person's income usually comes on different days and in different amounts, so a single repayment on a fixed date is harder to plan. That's why lenders build separate products for business owners and professionals.
Options self-employed people usually consider
These are general options available in the market — not Quick Loan products. Compare the cost and terms carefully before you choose:
- Business loan or working-capital loan from a bank or RBI-regulated NBFC — usually based on business vintage, GST returns or bank statements.
- Loan against gold — often quick, because the gold is the security.
- Loan against a fixed deposit — usually one of the cheapest ways to borrow for a short time.
- Overdraft on a current account — useful if your bank offers it on your business account.
- Credit card — only if you can clear the full bill by the due date; interest on unpaid balances is high.
Whatever you choose, always borrow from an RBI-regulated lender, read the Key Fact Statement and never pay a fee before the loan. Our 10 safety checks apply to every online loan.
Salaried with a side business?
If you have a regular salary paid into your bank account, you can apply even if you also run something on the side. What counts for this loan is your salaried job, your CIBIL score of 700+ and your repayment record. Check yourself with the eligibility checker — it does not affect your score.
Not sure which category you fall in?
Call us on 8595702470 (Monday to Saturday, 10 AM – 7 PM). We will tell you honestly whether Quick Loan fits you, and talk about other options if it doesn't.
The bottom line
Quick Loan is a salary-day loan, so it is only for salaried employees with a CIBIL score of 700+. Self-employed people are better served by business loans, gold loans or loans against a fixed deposit from an RBI-regulated lender. If you are salaried, apply in about two minutes.
Frequently asked questions
Can self-employed people apply for Quick Loan?
No. Quick Loan is a salary-day loan for salaried employees aged 21 to 58 with a CIBIL score of 700 or more. Self-employed people can call us on 8595702470 to discuss other options.
I have a salaried job and a side business. Can I apply?
Yes, if your salary is paid into your bank account and you meet the other criteria (CIBIL 700+, no late EMIs in the last 6 months).
