Borrowing tough if salary is in cash

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1. I am working in a construction company. My take-home salary is Rs 16,000 per month, but I get it in cash. I can get the salary slip. Is it possible to get a Rs 1-lakh personal loan?D. Rahul, HyderabadIt would be nearly impossible to get an unsecured personal loan if your salary is not credited to your bank account or paid by cheque. If you have some tangible security, you can try getting a loan against it. Loans against tangible assets are cheaper than personal loans.2. Can I get a loan with my brother-in-law as the property is owned in our joint name?Rajendra, ChennaiLenders allow immediate relations like spouse, parents, sons as co-borrowers to the loan and a few lenders even allow brothers. It is very unlikely that the lender will allow your brother-in-law to join you as co-owner for the property and provide a joint loan.3. I would like to buy a term insurance for my mother. She is a housewife and is 45 years old. Suggest the best term insurance.Smajish, KochiLife insurance is basically taken for loss of income for the family. While the death of any family member is a very distressing event and a huge emotional loss, the death of a non-earning member does not normally entail a financial loss to the family. A financial loss will be caused due to the death of your mother in case she assists with housework. You will need to make alternative arran-gements, which will cost money. So, some life insurance may be required even for non-earning members. But life insurance is available based on earned income without which only limited life insurance will be possible.(The writer is CEO of Apnapaisa.com. You can send in your queries to movingmoney@deccanmail.com [2])