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Know the documentation required for a personal loan available on Bajaj Markets for a smooth application!
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It is essential to check the documents required before applying for a personal loan. The documents required for getting a personal loan often include your income, age and address proofs. These documents are checked by the lender to verify and assess your credibility.
Submitting the right documents in the requested format not only speeds up the processing of your loan but also helps in avoiding delays or rejections. The required documents may vary by lender and whether you are salaried or self-employed, as each has its own criteria for assessing financial stability.
To prove your eligibility for a personal loan, you are usually required to submit some essential documents. These typically include:
Identity Proof: To verify your identity and prevent fraud
Address Proof: To confirm your current residence and ensure proper communication regarding the loan
Here is a comprehensive list of documents salaried applicants are usually asked to submit when applying for a personal loan on Bajaj Markets:
Type of Proof |
Details |
|---|---|
Identity Proof |
|
Address Proof |
|
Income Proof |
|
Photograph |
One passport-size colour photograph |
If you are self-employed, the paperwork you need to submit may differ. Here is a complete list of common documents most lenders ask you to furnish as a self-employed applicant:
Type of Proof |
Details |
|---|---|
Identity Proof |
|
Address Proof |
|
Business Ownership Proof |
|
Business Existence Proof |
|
Income Proof |
|
Photograph |
One passport-size colour photograph |
It is important to note that personal loan documents required for self-employed individuals must be verified by a chartered accountant.
If you are an NRI looking to apply for a personal loan, it is important to keep the following documents handy in order to ensure a smooth application process:
Type of Proof |
Details |
|---|---|
Identity Proof |
|
Address Proof |
|
Income Proof |
|
Photograph |
One passport-size colour photograph
|
Note: It is best to check with the lender as there could be other documents that they may require
Pensioners may need to access funds for unforeseen expenses. In case they would apply for a personal loan, here are the documents they would need:
Type of Proof |
Details |
|---|---|
Identity Proof |
|
Address Proof |
|
Income Proof |
|
Photograph |
One passport-size colour photograph
|
Government employees must keep the following the documents ready during the personal loan application process:
Type of Proof |
Details |
|---|---|
Identity Proof |
|
Address Proof |
|
Income Proof |
|
Photograph |
One passport-size colour photograph
|
As a first-time borrower, the personal loan application process can be a simple start. You may need to keep these documents ready to take the process forward:
Type of Proof |
Details |
|---|---|
Identity Proof |
|
Address Proof |
|
Income Proof |
|
Photograph |
One passport-size colour photograph
|
The documents needed for a personal loan may vary depending on the lender's policies and specific criteria. You may be asked to submit some additional documents alongside the ones mentioned above. Be sure to reach out to your loan provider to understand all the personal loan requirements thoroughly before applying. This will help you avoid delays.
Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.
No. You can submit photocopies of the KYC documents. However, keep the original documents handy in case they are required for cross-verification.
With the majority of the lenders, the documents required remain the same. However, based on the personal loan application process, banks and NBFCs may ask you to submit additional documents as well.
A PAN card is mandatory to apply for a personal loan according to the tax laws.
Yes, you may be able to apply for a loan without submitting an Aadhaar card, depending on the lender’s policies. They may ask you to submit alternate identity proofs.
Commonly accepted income proof documents include salary slips, income tax return filings, bank statements, and employer-issued salary certificates.
Yes. Many lenders allow online submission of all the required documents.
The personal loan documentation process typically takes a few days. However, the exact duration may vary depending on the lender and submission time of the required documents.
Banks use salary slips to verify your monthly and net income. They verify the details of the recent payslips with bank details and employment proof to assess your personal loan eligibility.
If you are a salaried individual, you need to submit salary slips for the last three months when availing a personal loan. This is because lenders evaluate your in-hand salary to assess your loan terms and repayment ability.
If you do not have a salary slip, you can submit a salary certificate issued by your employer. In addition, some lenders may allow bank statements to be submitted as proof of income.
Yes. Form 16 is usually a mandatory personal loan document required for salaried applicants as it gives lenders details of deductions and taxation on your income.
The documents required for a personal loan generally include proof of identity, address, and income. These documents help lenders assess your credibility and ability to repay the loan.
The documents required for a loan of ₹2 Lakh typically include proof of identity, address, and income. Lenders may also request additional documents depending on their specific requirements and your employment status.
On Bajaj Markets, you can explore a wide range of lenders that offer personal loans through an easy online application process.
The eligibility criteria to get a personal loan via Bajaj Markets include the following:
Citizenship: Indian
Age: Above 18 years
Income Profile: Salaried or self-employed
Income: Minimum income of ₹10,000 per month
Experience: At least 1 year of work experience
CIBIL Score: 600 or above
For a ₹1 Lakh loan, you will generally need to provide proof of identity, address, and income.
No, you may not be able to secure a personal loan without submitting the required documents since lenders need to verify your identity, address, and income. Incomplete or insufficient documentation may lead to the rejection of your application.
