Documents Required for Personal Loan

Last Updated : Dec. 18, 2021, 4:13 p.m.

Need a Personal loan to satisfy your own expenses? This guide can help you to study personal loan requirements and the documents required for personal loan.

A personal loan is one in which you do not have to provide the bank with any collateral or security. A personal loan is granted based on your income, credit score, and repayment ability. You can apply for a personal loan online, in person at a branch, or through non-bank financial institutions (NBFCs). Personal loans include tempting interest rates and a variety of repayment options. Personal loans can be utilized for a variety of things, including wedding expenses, vacation expenses, and house improvements. The documents for personal loans for different categories are listed below. You can check them and prepare your personal loan requirements set.

What are the Documents Required for Personal Loan?

The personal loans documents list is mentioned below for each of the categories.

Personal Loan Documents for Salaried Individuals

The personal loan documents required for salaried individuals are –

• Identity Proof – Pan card, Aadhaar card, Voter ID card, Passport, or driving license are all acceptable forms of identification.
• Residence Proof – Aadhaar card, voter ID card, passport, property documents, maintenance bills, or driver’s license are all acceptable forms of residential proof. You can furnish the owner with a rent agreement, an electricity bill, or a telephone bill.
• Income Proof – Last three months’ bank statements or last three months’ wage slips are acceptable forms of proof of income.
• Employment continuity proof – Employment Certificate of current employers, Experience Letters, Relieving Letters from the past employers.
• Two recent passport-size photos

Personal Loan Required Documents for Self-Employed Individuals

The documents required for personal loan for self-employed individuals are-

• Identity Proof – Pan card, Aadhaar card, Voter ID card, Passport, or driving license are all acceptable forms of identification.
• Residential proof – Aadhaar card, voter ID card, passport, property documents, maintenance bills, ration card, or driver’s license are all acceptable forms of residence proof. You can furnish the owner with a rent agreement, an electricity bill, or a telephone bill.
• Income Proof – Last three years’ ITR audited by your CA, audit report, profit and loss statement, last three months’ bank statement, or last six months’ passbook photo-copy.
• Two recent passport-size photos.
• Office address proof – Office address documentation can be provided in the form of a utility bill, property documents, maintenance bills, or a GST registration.
• Office existence proof – Company Registration License or Tax Registration copy.

Documents Required for NRI Personal Loan

The documents required for personal loan for NRI Applicants are –

• Identity Proofs – Passport, Visa
• Employment Proof – Appointment letter, Job Contract, Official Email Id or the email address of the HR Manager of the organization, Employee Identity Card.
• Income Proof – Last 6 months bank statement, or last 6 months salary slip.
• Recent Passport size photographs.

Documents Required for Pensioners / Senior Citizens

The requirements for personal loan for Senior Citizens or Pensioners are –

• Identity Proof – Pan card, Aadhaar card, Voter ID card, Passport, or driving license are all acceptable forms of identification.
• Residential proof – Aadhaar card, voter ID card, passport, property documents, maintenance bills, ration card, or driver’s license are all acceptable forms of residence proof. You can furnish the owner with a rent agreement, an electricity bill, or a telephone bill.
• Income Proof – Last six months’ bank statements or bank passbook, Form 16, Income Tax Returns statement, Copy of Pension payment order.
• Recent Passport size photographs.

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