Applying for a personal loan is easy if you know what documents you need. Whether you're planning a wedding, covering medical bills, or consolidating debt, having your documents ready makes the process smooth and stress-free.
The first and most very important document any bank will ask for is identity proof.
Aadhaar Card
Passport
PAN Card
Voter ID Card
Driving License
Your address proof is also very important for lenders to know where you reside.
Utility Bills: Electricity bill, water bill, or gas bill (not older than 3 months)
Rent Agreement: If you’re living in a rented house
Passport: Serves as both identity and address proof
Aadhaar Card: Double-check that the address is updated
Voter ID Card: Also accepted by most banks
Your income proof is another important document lenders evaluate to understand your repayment capacity. A higher, steady income increases the chances of your loan approval.
Salary Slips: Mostly, the last 2-6 months’ salary slips are required
Income Tax Returns (ITR): Sometimes, the last 1-2 years’ ITR documents are needed
Form 16: Your employer will provide this for tax deductions
Profit and Loss Statements: Your income over the last 2-3 years
Balance Sheets: A summary of your financial stability
ITR Documents: At least for the past 2-3 years
Business License or GST Registration: Proof of your business operations
Banks will ask for your bank statements from the last 3-6 months to review your financial behavior. This helps them see if you're financially stable, with regular income and enough funds in your account.
If you’re a salaried individual, your salary slips from the last 2-6 months are important to prove your income. These documents act as evidence of your job stability and financial status.
Most banks will ask for 2-3 passport-sized photographs to complete your loan application. It’s a simple requirement but often overlooked by many.
For identification purposes
To attach to your loan application form
If you're applying for a large personal loan, banks may ask for collateral or security. This is not common for smaller loans but can be required for bigger amounts.
Property Papers: If you’re using real estate as security
Fixed Deposit Certificates: If you’re offering an FD as collateral
If you have a co-applicant, their documents will also be needed. A co-applicant can improve your loan application, especially if they have good credit.
Identity Proof: Same as required for the primary applicant
Address Proof
Income Proof: Salary slips, ITR, etc.
If you're self-employed, banks will ask for more documents than they would from salaried people. This is because your income can be less predictable.
Office Address Proof: Lease agreement, utility bill, or rent receipt
Business Existence Proof: Business registration certificate, GST certificate, or trade license
Ownership Proof: Property ownership papers or a rental agreement for your office space
Some banks may ask for additional documents depending on their internal requirements or your loan profile.
Employment Certificate: From your current employer
Age Proof: Birth certificate, 10th-grade mark sheet, or PAN card
Loan Application Form: Completed and signed form with accurate details
And others
| Document Type | Salaried Individuals | Self-Employed Individuals |
|---|---|---|
| Identity Proof | Aadhaar, PAN, Passport, Voter ID | Aadhaar, PAN, Passport, Voter ID |
| Address Proof | Utility Bill, Rent Agreement, Passport | Office Address Proof, Utility Bill, GST Cert. |
| Income Proof | Last 2-6 months’ salary slips, Form 16 | ITR, Profit & Loss Statements, Balance Sheet |
| Bank Statements | Last 3-6 months’ statements | Last 3-6 months’ statements |
| Passport-Sized Photographs | 2-3 recent photos | 2-3 recent photos |
| Collateral Documents (if any) | Property papers, FD certificates | Property papers, FD certificates |
| Co-Applicant Documents (if any) | Identity, address, and income proof | Identity, address, and income proof |
Knowing the documents needed for a personal loan can make the application process quicker and easier. Stay organized and have everything ready. While banks may have some differences in requirements, these documents will cover most cases..
Always double-check your documents for accuracy and completeness.
Keep your credit score healthy for better loan terms.
Don’t forget to read the terms and conditions carefully.
We understand that getting a loan can be very stressful with confusing documents, unclear communication, and various other challenges. That is why we take care of your loan application process, saving you time and hassle by handling the paperwork and communicating with the loan providers.
Check the details at EazyBankLoan
Need help? Reach out at support@eazybankloan.com
It’s challenging but not impossible. Some lenders may offer loans with higher interest rates or ask for collateral.
While most banks have similar requirements, there can be slight variations. Always check with your bank beforehand.
If all your documents are in order, approval can take anywhere from 1-2 days.
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