InvestorQ : What are the documents required for a personal loan?
Tanu Shukla made post

What are the documents required for a personal loan?

Answer
image
priya Shah answered.
3 years ago
Follow

A personal loan is loan you can avail from any bank or non-banking financial company (NBFC) for any of your personal requirements. You could use it to purchase the latest laptop, fund your overseas vacation or to even renovate your house.

Here are the list of documents required for availing a personal loan:

If you are a salaried individual:

Criteria

Document required

Identity proof

Voters ID /passport/driving license, etc.

Address proof

Ration card/electricity bill/ passport, etc.

Bank statements

For the last three months

Employment certificates

Two-year employment continuity document

Salary slips

For last three months

If you are self-employed or have a business:

Criteria

For self-employed individuals

For businessmen/women

Identity proof

Voters ID /passport/driving licence, etc.

Address proof

Ration Card/electricity bill/ passport, etc.

Bank statements

For the last three months

Educational/business continuity documents

Proof of highest professional degree

Proof of continuation: Trade licence/sales tax certificate/establishment. Certified copy of partnership deed, Memorandum of Association (MoA), Article of Association (AoA) and Board resolution

ITR filings

Latest income tax return (ITR) along with the computation of income, balance sheet(B/S) and profit & loss(P&L) for the last two years certified by a CA.

Do note that the documents requirements are different for salaried individuals and businessmen/women, because lenders want to make sure you have the ability to repay the money to them.

1 Views