Personal loans are unsecured loans used to satisfy personal financial requirements such as debt consolidation, medical expenses, home renovation, etc. To avail a personal loan you have to submit some key documents, and do bear in mind the documentation can differ from one lender to another. Moreover, the required documents may depend upon the category that the applicant belongs to, like salaried, self-employed, NRI (Non-Resident Indian), or a Pensioner.
Following is the list of the common documents required by various categories of applicants while applying for personal loans:
Identify Proof: Passport/PAN Card/Voter's ID/ Aadhaar Card/Driving Licence
Address Proof: Passport/Aadhaar Card/Driving Licence/Utility Bill (not more than 3 months old)/Ration Card
Income Proof: Salary Slip/Form 16/ Bank Account Statement/Copy of Pension Payment Order/Previous Year ITR
Employment/Business Proof: Letter of Appointment/Job Contract/Labour Identify Card (if applicable)/Official or HR's Email ID/Certificate of Practice/GST Registration and Filing Documents/Partnership Deed/Shop Act License/MOA & AOA
For salaried people the required list of documents are below:
Along with a duly-filled personal loan application form, the salaried individuals have to are required to submit the following documents:
Photo Identity Proof (Any one): Passport/PAN Card/Aadhaar Card/Driving License/Voter’s ID
Address Proof (Any one): Passport/Ration Card/Utility Bill (not more than 2 months old)/Aadhaar Card/Driving License
Income Proof: Bank statements for the last 3 to 6 months that shows salary credit/Salary slips (Last 3 months)
Tax Paid (Any one): Form 16/IT returns for 2 years
Residence Ownership Proof (Any one): Maintenance Bill/Electricity bill/Property Documents
Proof of Job Continuity (Any one): Current employment certificate/Current job appointment letter/Experience certificate or a job certificate
Proof of Investment (if any): Fixed deposit, fixed assets, shares, etc.
Existing Loans (if any): Payment Track Record & Sanction letter
Photograph: One coloured passport size photograph
For self-employed people the required list of documents are below:
The self-employed people have to submit the following documents along with their duly completed loan application form:
Photo Identity Proof (Any one): Passport/PAN Card/Aadhaar Card/Driving License/Voter’s ID
Address Proof (Any one): Passport/Utility Bill (not more than 2 months old)/Ration Card/Aadhaar Card/Driving License
Proof of Residence Ownership (Any one): Property documents/Electricity bill/Property Documents
Proof of Office Address and Ownership (Any one): Property documents/Electricity bill/Maintenance bill
Proof of Business Existence (Any one): Company registration license/Shop establishment proof/Copy of GST registration
Income Proof: Last 2 years Income tax returns of the applicant and the computation of income duly attested by a Chartered Accountant/Audited balance sheet and Profit & Loss accounts, and tax audit report if applicable
Bank statement: Current account bank statement/savings account bank statement/bank passbook for the past one year
Proof of Investment (in case any): Investments proof such as fixed deposit, fixed assets, shares, etc.
Existing Loans (in case any): Payment Track Record and sanction letter
Professional Degree Certificate: In case of professionals
Photograph: One coloured passport size photograph
For pensioners the required list of documents are below:
Pensioners are generally required to submit the following documents:
Identity/Age Proof (Any one): PAN card/Aadhaar Card/Voter ID card/Driving License/Ration card/Passport/Birth certificate/School leaving certificate
Address Proof (Any one): Passport/Utility bills/Ration card/Driving License/Aadhaar Card
Income Proof (Any one): Bank statements from last 6 months’/salary slips/Form 16/Bank passbook/Copy of pension payment order/Income tax returns
Photographs: Passport size photographs
