Personal-LoanNow apply for the personal loans in India at affordable interest rates!

This modern era has emerged as an industrial and IT hub besides being a cultural center with vintage architecture. Therefore, the number of personal loans in India has also steadily increased to assist aspirational inhabitants in fulfilling their needs.

Personal loan in all over India at affordable EMI option & low-interest rates

Cash Personal loans from private financial institutions in India like India Loans are one of the best funding solutions to pay for professional courses, niche courses, and specialized certificate courses.

Apply for Personal loan across the country from anywhere

In order to get a personal loan services in India, you need to meet the eligibility criteria specified by financial services providers. Your passport, voter’s identification card, driving license, Aadhaar card, and PAN card are few of the KYC documents that you could submit when applying for a personal loan in Pune.

One of the option to get money from reputed banks for all needs is through a personal loan. Whether going for a vacation or to buy the best gift for your sibling, make use of the personal loan option! To apply successfully for a personal loan a borrower needs to provide a certain set of documents. These documents help the lender (be it a bank or an NBFC) to know and understand the financial stability of the borrower and analyze the credit risk.

It is on the basis of this a lender decides whether to lend or not to the applicant. As personal loans are unsecured loans, the lender does not take anything as collateral for the lending amount, hence there is always a potential risk of the borrower defaulting or absconding on the loan. Hence to be double-triple sure a lender asks for a certain set of documents so that it can learn and decide to give you a personal loan in India.

Personal loan is capable of fulfilling all your emergency and unplanned financial needs. Apply for a personal loan and get quick access to funds to finance your expenses with ease.

One of the option to get money from reputed banks for all needs is through personal loan. Whether going for a vacation or to buy a best gift for your sibling, make use of the personal loan option! To apply successfully for a personal loan a borrower needs to provide certain set of documents. These documents helps lender (be it a Bank or a NBFC) to know and understand the financial stability of the borrower and analyse the credit risk. Apart from that it helps a lender know and verify all the details about the applicant such as age, income, address, employer and employment. It is on the basis of this a lender decides whether to lend or not to the applicant. As personal loans are unsecured loans, the lender does not takes anything as collateral for the lending amount, hence there is always a potential risk of borrower defaulting or absconding on the loan. Hence to be double triple sure a lender asks for a certain set of documents so that it can learn and analyse the applicant and then decide. Below are the checklist for all the required documents for a personal loan.

 
List of Common Documents Required for Personal Loan

Here is the list of common documents that should be submitted irrespective of which bank you are applying and where you are located.

  1. Complete loan application form with one passport size photograph.
  2. Valid Proof of Applicant’s Identity: Voter ID Card/Passport/PAN Card/Driving License
  3. Proof of Residence: Ration Card/Passport/Utility Bill
  4. Proof of Age: Voter ID Card/Passport/PAN Card/Driving License
  5. Financial Documents:

    a. Salaried Individuals: Latest 3 month’s Salary Slips and Form 16, Bank Statements of 6 months

    b. Self Employed Individuals: Latest 1 year bank statement for both savings and current account

Documents Required for Salaried Individuals

  1. Valid Proof of Applicant’s Identity (any one of the following): Voter ID Card/Passport/PAN Card/Driving License
  2. Proof of Residence (any one of the following): Ration Card/Passport/Utility Bill
  3. Proof of Age (any one of the following): Voter ID Card/Passport/PAN Card/Driving License
  4. Income Proof: Latest 3 month’s Salary Slips and Form 16.
  5. Job Continuity Proof: Current Employment Certificate or Current Job Appointment letter and Experience Certificate
  6. Bank Statement: Latest 6 month’s statement from bank
  7. 1 Passport size color Photograph
  8. If there are existing loans submit Payment Track Record and sanction letter

Documents Required for Self Employed Professionals

  1. Valid Proof of Applicant’s Identity (any one of the following): Voter ID Card/Passport/PAN Card/Driving License
  2. Proof of Residence (any one of the following): Ration Card/Passport/Utility Bill
  3. Proof of Age (any one of the following): Voter ID Card/Passport/PAN Card/Driving License
  4. Office Address Proof: Property Document/Maintenance Bills/Utility Bill
  5. Office Ownership Proof: Property Documents/Maintenance Bill/Electricity Bill
  6. Business Existence Proof: 3 years old Salary Statement/Shop Establishment
  7. Income Proof: Latest 2 years Income Tax Returns including Computa