Personal Loan Documents Required

To avail a personal loan, you need to submit a few basic documents to verify your identity, address, income and employment status. If you are a salaried individual, documents include Aadhaar card, PAN card, Voter ID, and passport for your Identity proof; Address proof includes your passport, driving license, Voter ID and utility bills (water, gas, electricity). Income proof includes your last 3 months’ salary slips, Form 16, last year’s ITR and last 6 months’ bank statement.

If you are a self-employed individual, the additional documents besides your identity and address proofs include your income proof, such as the last 2 years’ ITR, the latest bank statement of your current/savings account, and P&L statement. Business proof includes the property documents, business address proof, letter of incorporation, etc.

However, if you are a pre-approved customer, then you are not required to submit any documents while applying for a personal loan.

Find below the documents required for applicants from various categories:

Personal Loan Documents Checklist for Salaried Individuals

• Identity Proof: Aadhaar Card, Voter ID, Driving License, PAN Card, Passport
• Address Proof: Aadhaar Card, Driving License, Ration Card, Passport, Proof of residence ownership, Utility Bills (Latest electricity, water, gas bills), Rent agreement, (NREGA card in specific cases)
• Income Proof: Last 6 months’ salary slips, last 6 months’ bank statement, Form 16, Latest ITR
• Employment Proof: Employee ID card, Appointment/Offer Letter or experience letter from your previous employer or company

Documents Required for Self-employed Applicants

• Identity Proof: Passport, Aadhaar card, Voter’s ID, Driving license, PAN card
• Address Proof: Aadhaar card, passport, proof of residence ownership, utility bills (water, gas, and electricity)
• Income Proof: Last 2 years’ ITR, last 1 year current/savings account statement, audited balance sheet, P&L statement
• Business Proof: Letter of incorporation, property documents, business address proof, business vintage proof, proof of business continuity

Personal Loan Documents Checklist for NRIs

• Identity Proof: Passport and resident VISA copies, duly attested by Foreign offices, Notary Public, Indian Embassy or authorised officers or corresponding banks
• Employment Proof: Job contract, Letter of Appointment, Labour/ Identity card (if applicable), Official email ID or the HR’s email ID
• Income Proof: Last 6 months’ bank statement and salary slips

Personal Loan Documents Checklist for Pensioners

• Identity Proof: Ration card, Passport, PAN card, Aadhar card, Voter ID card and Driving licence
• Address Proof: Passport, Aadhaar card, Utility bills, Ration card and Driving licence
• Income Proof: Last 6 months’ bank statements/salary slips, Copy of bank passbook and pension payment order, and Form 16/ITR (if applicable)

For New-to-Credit/No Credit History Applicants:

Additional documents to be kept handy by New-to-Credit applicants or Individuals with No Credit History while applying for personal loans include details of their savings/current account(s), fixed deposits, secured credit card(s), if any. These documents shall help these applicants to avail personal loans, though at higher interest rates.

The documentation process typically includes the following steps:

• Collect the required documents as per the lender’s requirement.
• Scan the documents and self-attest where required
• In case of digital loan application upload the scanned documents online and in case of manual loan application submit the documents in the bank branch along with the loan application.
• The lender will then verify the documents.

• Incomplete details
• Lack of Clarity
• Forge Salary Slips
• False employment details