When you want a personal loan, submitting personal and financial documents during the application process is essential. Because they want assurance that you will pay the debt amount, submitting the documents required by each lender may be slightly different. Otherwise, it is the same. You must submit the important documents to improve your chances of getting a personal loan. You will wonder which documents you need; all information is provided here.
Yoindi is a platform where you can get information about different lenders. The lender information, such as what documents need for eligibility, what interest rate they take, what loan amount they provide, etc. You can gather all the information from Yoindi, and you can apply too for the loan process.
The common documents which need to submit for getting a personal loan are as follows:
The type of documents a Salaried employee needs to file a personal loan are as follows:
| Type of Proof | Documents Required |
|---|---|
| Identified Proof |
|
| Address Proof |
|
| Income Proof |
|
| Tax Paid |
|
| Resident ownership Proof |
|
| Proof of Job Continuity |
|
| Photograph |
|
| Existing loans |
|
| Proof of investment |
|
| Type of Proof | Documents Required |
|---|---|
| Identified Proof |
|
| Address Proof |
|
| Resident ownership Proof |
|
| Proof of Office Address |
|
| Proof of Business Existence |
|
| Income Proof |
|
| Photograph |
|
| Existing loans |
|
| Proof of investment |
|
| Type of Proof | Documents Required |
|---|---|
| Identified Proof |
|
| Employment Proof |
|
| Income Proof |
|
A pensioners person needs to submit the following documents for a personal loan such as follows :
| Type of Proof | Documents Required |
|---|---|
| Identified Proof |
|
| Address Proof |
|
| Income Proof |
|
| Type of Proof | Documents Required |
|---|---|
| Income Proof |
Copy of bank statements in salaried employee or copy of last month 2 previous salary slips, copy of latest ITR, and Form 16. |
| Identified Proof |
A copy of the Driving license, Aadhaar Card, PAN card, and Voter ID. |
| Address Proof |
A copy Driving license, Aadhaar Card, and Utility bill ( Electricity, water, and gas bills). Also, you need to submit bank statements in case of a salaried employee, a copy of your registration license, or a tax registration. |
| Photograph |
Latest coloured passport sized photograph. |
| Type of Proof | Documents Required |
|---|---|
| Income Proof |
Copy of pension documents/ PPO and bank account statements. |
| Identified Proof |
A copy of the Driving license, Aadhaar Card, PAN card, passport, and Voter ID. |
| Address Proof |
A copy of PAN card, Driving license, Utility bill, and Bank Statements. |
| Photograph |
Latest coloured photograph. |
NRI is not eligible for a personal loan from the Bank of Baroda.
When applying for a personal loan, the document submission is the same most of the time. But depending on lender requirements, you need to submit additional documents when needed.
According to tax law, having a PAN card is essential to get a personal loan. If your loan amount is below Rs 50,000, you will get a personal loan without a PAN card.
The documents that can be used as income proof are bank statements of salaried employees or copies of last month 2 previous salary slips, copy of the latest ITR, and Form 16.
Banks give pre-approved Personal loans to their existing customers only. Because of it, no document or minimum document is required.
Getting a personal loan is an easy task as it doesn't take time to complete an application and receive the loan. You get the loan within 5 to 7 business days.
You have to submit photocopies of the documents. You need original documents for cross-verification.
Giving a salary slip is essential because it assures the lender of the debt repayment.
You must provide the last 3 month salary slips to get a personal loan.
