To apply for a personal loan, you must furnish the necessary documents to the lender. The lender will verify and assess your application and then decide if you are eligible for the personal loan or not. The common list of documents are listed below
Identity Proof: Name, age, gender etc.
Residence Proof: Permanent and current place of residence
Employment Proof: Whether you are salaried or a self-employed applicant(business), name of the organisation
Income Proof: Your net monthly in-hand income
Following are the documents required for personal loan for Salaried Employees and Self-employed Professionals:
Type of Proof |
Salaried Employees |
Self-Employed Individual |
Identity Proof |
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Address Proof |
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Proof of Business Ownership |
Not Applicable |
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Proof of Business Existence |
Not Applicable |
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Income Proof |
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Photograph |
One passport size colour photograph |
Following are the personal loan documents for NRIs and Pensioners:
Type of Proof |
NRI’s |
Pensioners |
Identity Proof |
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Address Proof |
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Income Proof |
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Photographs |
Passport-size photographs |
You can submit the photocopies of the KYC documents. However, keep the original documents handy in case required for cross-verification.
It may vary from lender to lender. Based on the personal loan application process, you may be asked to submit some additional documents depending on the lender.
As per the tax laws, PAN card is a must when applying for a Personal Loan. In case the loan amount is below Rs. 50,000, then you can get a Personal Loan.