Loan comparison of L&T Finance Personal Loan vs SBI Personal Loan

ID Proof: Pan Card, Aadhaar Card, Passport, Driver's License, Voter's ID

Address Proof: List of OVDs: Aadhaar Card, Passport, Driving License, Voter's ID

List of Deemed OVDs: Utility bill of any service provider not more than two Months old [Electricity, Telephone, Post-paid Mobile Phone, Piped Gas, Water Bill], Property or Municipal Tax Receipt; Pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address

Letter of allotment of accommodation from the below employers issued by and Leave and License agreements with below employers:

a. State Government or Central Government Departments,

b. Statutory or regulatory bodies

c. Public sector undertakings

d. Scheduled commercial banks

e. Financial institutions and f. Listed companies.

• Rent Agreement [However, it has be coupled with any one of the above four Deemed OVD documents]

• Note: In case of Deemed OVDs submitted as address proof you are required to submit an OVD updated with your Current Address within a period of 3 months of submitting the deemed OVDs documents]

Proof (if required):

• Salaried – Latest 3 month's Salary Slips / Latest Form 16 / Last 3 month's bank statement reflecting salary credits / Salary Certificate

• Self Employed - Latest Income Tax Return (ITR)

• Bank Statement - Last 3 month's statement is mandatory

• Residence Ownership Proof - Not mandatory

Application Form along with photograph of the borrower

Permanent Account Number (PAN)

At least one copy of the Officially Valid Documents (OVDs)

6 months’ Salary Slips

Latest ITR/ Form 16. However, it is waived for all salaried employees for whom income tax is not applicable or not deducted by the employer, in line with the norms stipulated under Income Tax Act, e.g., customers having <1 year of service, customers having taxable Income in “Nil” Tax Rate %age slab, customers of any State/ UT with no income tax, etc.

6 months’ Salary Account Statement (i.e. account statement(s) where last 6 months’ salary is credited)