Consultant Seeking Loan: What Are My Options Without a Payslip?

Hi Manav,

I am Manav. I am working as a consultant for a firm, and I need payslips or any alternative to show to the bank as I am applying for a loan. As per the rules, I guess the company doesn't provide salary slips to consultants. But I want to know whether there is any other alternative to salary slips. Please help me out.

Manav

Dear Manav,

Instead of a salary slip, you may even use a salary certificate stating that you are working with this organization as a consultant and detailing your monthly salary.

For your reference, I am attaching one of the sample formats of the same. I hope it will help you understand it more clearly.

Regards,

Amit Seth.

Hi,

Will there be separate payslips for consultants? Are the House Rent Allowance (HRA) and other allowances applicable to consultants as well? Please reply to my query.

Thank you.

Hello Manav,

I agree with Amit Seth. Salary certificates are also acceptable for loans, except that please ensure to take it on the company letterhead with the sealed signature of the authorized signatory.

Regards, TS