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.
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.