Personal loan is an unsecured loan that you can use to meet personal financial needs, such as medical expenses, vacation, higher education, wedding, home renovation, debt consolidation, etc. The documents required by lenders for personal loans also depend upon the categories that applicants belong to, such as salaried individuals, self-employed professionals, NRIs (Non-Resident Indians) or pensioners.
Given below is a list of common documents required by different categories of applicants when applying for a personal loan:
List of Documents Required for Salaried Applicants
Salaried individuals are required to submit the following documents along with a duly-filled personal loan application form:
Photo Identity Proof (Any one):
- Passport
- PAN Card
- Voter’s ID
- Aadhar Card
- Driving License
Address Proof (Any one):
- Passport
- Utility Bill (telephone, electricity, water, gas) – less than 2 months old
- Aadhaar Card
- Driving License
- Ration Card
Income Proof:
- Salary slips (Last 3 months)
- Bank statements for the last 3 to 6 months (showing salary credit)
Tax Paid (Any one:
- IT returns (for 2 years)
- Form 16
Residence Ownership Proof (Any one):
- Property documents
- Maintenance bill
- Electricity bill
Proof of Job Continuity (Any one):
- Current employment certificate
- Current job appointment letter (if more than 2 years have been spent in the same organisation)
- Experience certificate (previous employer’s relieving or appointment letter along with job certificate)
Proof of Investment (if any) – Fixed assets, fixed deposit, shares, etc.
Existing Loans (if any) – Payment Track Record & Sanction letter
Photograph – Coloured passport size photographs
Also Know: What is the eligibility criteria for a personal loan for salaried employees?
