RupeeRedee Personal Loan Documents Required

The documents required to apply for a personal loan at RupeeRedee have been discussed in this section. Please note that these documents are required for compliance with Know Your Customer (KYC) regulations as per RBI guidelines. Moreover, it helps the lender assess your credit profile in order to approve the loan application.

• Proof of Address: This may include your Aadhaar Card, Voter ID or Driving License.
• Bank Account Statement/ Access to Bank Account Details: This should be indicative of a regular source of income.
• PAN Card (mandatory)
• Latest Photographs

NOTE: You can submit the above-mentioned documents through online medium only. You ca do so via the RupeeRedee website or mobile application. The completely digital process results in a quick turn-around time.

Also Read: Which bank gives a personal loan for a low salary employee?

You should keep the following points in mind while applying for a personal loan. Doing so will not only increase the chances of getting the loan approved, but will also help you get the lowest personal loan interest rate.

• Check the eligibility criteria and ensure you meet them all before submitting the loan application.
• Carefully go through the list of the documents required to avail the personal loan.
• Maintain a high credit score, which is a numeric summary of your repayment history. As the score increases, the chances of getting the personal loan at a low rate of interest also increase.
• Do not use a large amount of the total credit available to you in order to maintain a low credit utilization ratio.
• Improve your repayment capacity by maintaining a low Fixed Obligation to Income Ratio (FOIR). In other words, don’t allow your ongoing loan EMIs and credit card dues to form a large part of your monthly income.
• Always maintain a healthy mix of credit by seeking a balance between the quantum of secured and unsecured loans.
• Avoid submitting multiple loan applications as this may lead to multiple hard enquiries of your credit report, and hence lower your credit score.