Personal loan required documents
Obtaining a personal loan can be a straightforward process if you are well-prepared with the required documents. Whether you are a salaried employee or self-employed, financial institutions have specific criteria to evaluate your eligibility. In this guide, we outline the essential documentation needed for personal loans, addressing the specific requirements for both salaried individuals and those who are self-employed.
Documentation for Salaried Employees:
1. Proof for Photo Identity:
— Aadhar Card
— Passport
— Driving License
— PAN Card
— Voter’s ID
2. Proof of Residence:
— Aadhar Card
— Passport
— Utility Bill
— Ration Card
3. Proof of Ownership of House:
— Property documents
— Maintenance Invoice
— Electricity Bill
4. Proof of Job Regularity:
— Certificate of employment from the current organization.
— Proof of past job (with start and end dates)
5. Proof of Salary:
— Salary slips for the last three months, as well as Form 16
— Bank statement for the last six months showing your salary
6. Investment Proof (if applicable):
— Shares
— Fixed Assets
— Fixed Deposit
7. Documents of Existing Loan (if applicable):
— Sanction Letter
— Payment tracking record
8. Photograph:
— Colored photo Passport size
Documentation for Self-Employed Individuals:
1. Proof for Photo Identity:
— Aadhar Card
— Passport
— Driving License
— PAN Card
— Voter’s ID
2. Proof of Residence:
— Aadhar Card
— Passport
— Utility Bill (Gas, Electricity, Water) less than 2 months old
— Ration Card
— Driving License
3. Proof of Ownership of House:
— Property documents
— Maintenance Invoice
— Electricity Bill
4. Proof of Income:
— Last two years’ Income tax returns of the petitioner, as well as income computations confirmed by a Chartered Accountant.
— Savings/current account bank statements/passbooks from the previous year
— Balance sheet and profit and loss accounts that have been audited, as well as a tax audit report if applicable.
5. Evidence of Business Existence:
— License for company registration
— GST registration copy
— Evidence of Shop establishment
6. Investment Proof (if applicable):
— Shares
— Fixed Assets
— Fixed Deposit
7. Photograph:
— Colored photo Passport size
Ensuring you have all the necessary documents ready is crucial when applying for a personal loan. By understanding the specific requirements for both salaried employees and self-employed individuals, you can streamline the application process and increase your chances of a successful loan approval. Always consult with the financial institution to verify any additional requirements specific to their policies. Secure your future with Divine Loan Hub! Contact us at +91 8006731732 or fill out the form Divine Loan Hub.