Download the
Paisabazaar app Today!
Paisabazaar app Today!
Get instant access to loans, credit cards, and financial tools — all in one place
Banks and NBFCs do require income proofs of their personal loan applicants to evaluate their repayment capacity and creditworthiness. In case the applicant lacks valid income proofs, banks and NBFCs ask for their financial statements to determine their repayment capacity based on their cash flows. Many lenders offering pre-approved personal loans do not require income proof documents from their eligible applicants.