Personal Loan Documents

You are required to submit the following documents for a personal loan application:

• PAN Card, Aadhar Card, Voter ID Card, Driving licence


• Passport size photograph


• Bank account statements for the last 3 months


• Salary slips for the last 3 months

The proof of identity for a personal loan application generally includes one or more of the following documents:

• Aadhar Card


• PAN Card


• Passport


• Voter ID Card


• Driving Licence


• Birth Certificate


• Ration Card

You can use any of the following documents to prove your address:

• Aadhar Card


• Driving licence


• Passport


• Voter ID Card


• Landline bill


• Electricity bill


• Bank statements


• Income Tax Returns (ITR)


• Gas bill

You can use any of the following documents to provide proof of income for a personal loan application:

• Recent Salary Slips


• Bank Statements


• Income Tax Returns (ITR)


• Investment Statements

Yes, to be eligible for a loan as a self-employed individual there are specific requirements for when it comes to income documentation such as:

•       Bank Statements


•       Income Tax Returns (ITR)


•       Business Registration Certificate


•       GST Returns


•       Audited Financial Statements (Balance Sheets, Profit and Loss Statements)

You need to provide details about your employment history or business details depending on your source of income. Here is what you need to provide as a salaried employee:

• Salary Slips


• Bank Statements


• Appointment Letters


• Employment Details

• Bank Statements


• Income Tax Returns (ITR)


• Business Contracts


• Business Registration Documents


• Business Details

Bank statements play a pivotal role in the personal loan application process as they assess your financial stability. You would need to provide the last 6 months’ bank statements for your personal loan application.

The lender will request your permission to access your credit report as a part of the instant personal loan online application.

Providing a guarantor or co-applicant’s documents, if required, can enhance your chances of loan approval. These documents serve as additional assurance to the lender, indicating that there is another person responsible for repaying the loan if you default. This added security can result in more favorable terms, such as lower interest rates and higher loan amounts.

While applying for a joint personal loan both parties need to provide a few common documents:

• Identity proof


• Address proof


• Income proof


• Bank statements


• Passport-size photographs


• Loan Agreement


• Credit scores of both parties


• Employment or business details

You do not need to provide any collateral or security documents for a personal loan as it is already unsecured.

Your loan application may get rejected if you do not have the required documents.

You are required to submit scanned copies of the necessary documents for your personal loan application online.

It takes 2-3 working days to a couple of weeks for the lender to verify and process the documents completely for the personal loan application.

Foreign nationals or non-residents of India are required to submit their identity proof, address proof, passport-size photographs, valid passports and visas, income tax returns (ITR), salary slips (for employed individuals), and bank statements.

Since pre-approved online short term loans are for existing customers, the lenders already have all the necessary documents and credit value. Therefore, it is not required to submit the documents again.

Secured and unsecured loans need different types of documents. You need to provide identity proof, address proof, income proof, and employment proof to apply for a secured loan. For an unsecured personal loan, you need to provide collateral documents along with identity proof, address proof, income proof, and employment proof.

The basic document requirements are the same but it may vary from lender to lender and the type of loan you are applying for. You may contact the lender, visit a local branch, or check the document requirements online on the website.

You must choose a reputed bank, keep a strong and unpredictable password, and a secured Wi-Fi connection, use 2-factor authentication, upload your documents wisely, and avoid sending sensitive documents via email to ensure the security and privacy of your personal and financial documents during the application process.

For debt consolidation, you need to provide identity proof, address proof, employment proof, and list of debts. Whereas for medical loan you are required to submit identity proof, address proof, employment proof, medical bills, and a purpose statement stating the need for medical loan.

You can get your personal loan approved instantly, and once disbursed, you can immediately access the funds. For personal loan EMI repayments, you will need to start paying your EMIs from the following month.