#personal loan document

Know the List of Important Documents Required for a Personal Loan

Individuals can benefit greatly from personal loans as a means of obtaining financial stability. However, there are certain personal loan documents that you need while applying for a personal loan. The personal loan document requirements can fluctuate from one financial institution to the next and from one type of borrower (such as a salary earner, sole proprietor, pensioner, or non-Indian…

Personal Loan Documents

Personal loan is the most popular unsecured loan that can be used to meet personal expenses of your daily life, such as medical expenses, vacation, higher education, wedding, home renovation, debt consolidation, etc.  

The documents required for personal loan document also depend upon the categories that applicants belong to, such as salaried individuals, self-employed professionals, NRIs (Non-Resident Indians) or pensioners. The lender prescribes the list of the documents for the customers.  

Every bank and NBFCs (Non-Banking Financial Companies) has its own requirement for the documents list. We are giving you a common list of documents which you may consider for a personal loan. The documents are as follows:

Identity Proof: Name, age, gender etc.

Residence Proof: Permanent and current place of residence

Employment Proof: Whether you are salaried or a self-employed applicant(business), name of the organization

Income Proof: Latest 2 months pay slip Latest 2 months bank statement showing salary credits One year Employment proof (Not required if DOJ mentioned in pay slip and working for more than 1 year).

Other Important Documents and Checks completely filled and duly signed application form along with applicants’ latest passport size colour photo Self-attestation of borrowers on all documents.

When Applying for a Personal Loan, applicants are requested to submit a certain set of documents. The documents required by the bank will depend upon whether the applicant is a salaried person or a self-employed individual.

Required Documents to apply for personal loan

List of Documents Requested of Salaried Employees

 Proof with photo identity  Proof of residence  Proof of income  Proof of job continuity  Proof of investment (if any)  Any one of the following:

Passport

PAN Card

Driving License

Voter’s ID

 Any one of the following:

Passport

Ration Card

Utility Bill

Rental Agreement

 Salary slips for the last 3 months along with Form 16  Any one of the following:

Employment certificate from the current employer

Certificate of experience (

Appointment letter from the current employer

 fixed assets, shares, fixed deposit, etc.

List of Documents for Self-Employed Individuals

 Proof of photo identity  Proof of residence  Proof of office address  Proof of business existence  Proof of income  Bank statement  Proof of investment (if any) Any one of the following:

Passport

Voter’s ID

PAN Card

Driving License

 Any one of the following:

Passport

Utility bill

Ration card

 Any one of the following:

Maintenance bill

Property documents

Utility bill

 Any one of the following:

Tax registration copy

Three years old Saral copy

Company registration license

Shop establishment act

 Income tax returns for the previous two years inclusive of Computation of Income, audit report, balance sheet, profit and loss account, etc.  Savings and current bank statement for the past 1 year.  Investments such as fixed assets, fixed deposits, and shares.

One passport size photograph (colour)