Documents Required for Personal Loans for Salaried, Self Employed, NRIs & Pensioners
Whenever you apply for a personal loan, the documentation process is always very crucial.
Whether you apply for an instant personal loan or a normal personal loan, you
need to submit all the documents to the financial institutions. It is important
to complete the documentation process along with the application form. If you
were applying for a personal loan offline, you need to physically submit the
list of documents as required. For online personal loans, you need to upload
scanned copies of all your original documents. The requirement of personal loan documents is different
for salaried self-employed, pensioners, and NRI individuals. If you are
planning to get a personal loan, here’s the list of documents that you need to
provide.
List of
Documents Required for Salaried Employees
Proof of photo
identity
● Passport
● Voter’s ID
● PAN Card
● Driving License
● Aadhaar Card
Proof of
residence
● Passport
● Aadhaar Card
● Utility Bill
● Ration Card
● Driving License
Proof of
ownership of the residence
● Property documents
● Electricity bill
● Maintenance bill
Proof of income
● Salary slips for the last three months along with Form 16
● Bank statement for the previous six months where the salary has been credited
Proof of job
continuity
● Employment certificate from the current employer
● Certificate of experience
● Appointment letter from the current employer
Proof of
investment
● Fixed assets
● Shares
● fixed deposit.
● Bonds
● Fixed deposit
Documents for
self-employed individuals
Proof of photo
identity
● Passport
● Voter’s ID
● PAN Card
● Driving License
Proof of
residence
● Passport
● Aadhaar Card
● Utility Bill
● Ration Card
Proof of
residence ownership
● Property documents
● Electricity bill
● Maintenance bill
Proof of office
address
● Maintenance bill
● Property documents
● Utility bill
Proof of office
ownership
● Maintenance bill
● Property documents
● Electricity bill
Proof of
business existence
● Tax registration copy
● Company registration license
● Shop establishment proof
Proof of income
● Income tax return
● Cash flow statement
● Balance sheet
● Audit report
● Profit and loss statement
● Bank statement
● Savings and current bank statement for the past year
Proof of
investment
● Fixed assets
● Fixed deposits
● Shares
Documents for
NRI applicants
Proof of
identity
● Copy of your passport
● Copy of your visa
Proof of
employment
● Appointment letter
● Job contract
● Identity/Labour card
● Official email ID
Proof of income
● Bank statements of the last 6 months
● Salary slips or salary certificate
● Recent passport-size photographs
Documents for
pensioners
Proof of
identity/age
● Ration card
● PAN card
● Voter ID card
● Passport
● Driving license
● School leaving certificate
● Birth certificate
Proof of
address
● Aadhaar card
● Passport
● Ration card
● Utility bills
● Driving licence
Proof of
income
● Bank passbook
● Bank statements of the last 6 months
● Form 16
● Income tax returns
● Copy of pension payment order
● Recent passport-size photographs
Why is documentation important?
Personal loans are completely unsecured forms of loans.
There is no collateral or secured property attached to personal loans. This
means, there is a significant measure of risk in lending without a proper
background verification. Loan providers run a complete verification and
background check on the individual as well as employment and income. Only after
confirming the details and information validity, the personal loan approval is
given.
Wrapping up
When you take an instant
personal loan online, it is important to have all the personal loan documents arranged. Personal loans are always the
best go-to financing option during any kind of financial crisis.
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