Required Documents for Personal Loan

Personal Loan Documents Required

A best option to get money from reputed banks for all needs is through personal loan. Whether it to go for a vacation or to buy a best gift for your sibling, make use of the personal loan option! Everyone would be thinking- am I eligible for a personal loan. In case you are eligible, you would need to keep some documents handy in order to successfully apply for a personal loan.

Checklist of Documents Required for Personal Loan

  • Photo Identity Proof
  • Residence Address Proof
  • Residence Ownership Proof
  • Income Proof
  • Job Continuity Proof
  • Bank Statement
  • Investment Proof
  • 1 passport size color photograph

List of Common Documents Required for Personal Loan

Here is the list of common documents that should be submitted irrespective of which bank you are applying and where you are located.

  • Complete loan application form with one passport size photograph.
  • Valid Proof of Applicant's Identity: Voter ID card, passport, pan cad, driving license.
  • Proof of Residence: Ration card, passport and utility bill.
  • Proof of Age: Voter ID card, passport, pan cad, driving license.
  • Financial Documents:

          a. Salaried Individuals: Latest 3 months’ Salary Slips and Form 16, bank statements for 6 months

          b. Self Employed Individuals: Latest 1 year bank statement for both savings and current account

Documents Required for Salaried Individuals

  • Valid Proof of Applicant's Identity (any one of the following): Voter ID card, passport, pan cad, driving license
  • Proof of Residence (any one of the following): Ration card, passport and utility bill
  • Proof of Age (any one of the following): Voter ID card, passport, pan cad, driving license
  • Income Proof: Latest 3 months’ Salary Slips and Form 16.
  • Job Continuity Proof: Current Employment Certificate or Current Job Appointment letter and Experience Certificate
  • Bank Statement: Latest 6 months’ statement from bank
  • Investment Proof (if any): Shares, Fixed Deposit, Fixed Assets, etc.,
  • 1 passport size color photograph
  • If there are existing loans submit Payment Track Record and sanction letter

Documents Required for Self Employed Professionals

  • Valid Proof of Applicant's Identity (any one of the following): Voter ID card, passport, pan cad, driving license
  • Proof of Residence (any one of the following): Ration card, passport and utility bill
  • Proof of Age (any one of the following): Voter ID card, passport, pan cad, driving license
  • Office address: Property document, maintenance bills, utility bills
  • Office Ownership Proof : Property Documents, Maintenance Bill, Electricity Bill
  • Business Existence Proof: 3 years old Saral Copy, Shop Establishment Act
  • Income Proof: Latest 2 years Income Tax Returns including Computation of Income, P&L Account, Balance Sheet

Documents Required for Senior Citizens/Pensioners

  • Photo Identity Proof: Passport/ Driving License/ Voter ID/ PAN
  • Residence Address Proof: License/ Registered Rent Agreement/ Utility Bill
  • 1 passport size color photograph
  • Age Proof Document: pan card or passport
  • Income Proof: pension returns or bank statement

Personal Loan Application Form

Personal Loan Application Form is the used by applicant to request banks to consider their requirement of personal loan, post validation of all details in the application form the bank with process the loan and will let you know the next steps to get the required money.