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The benefits of personal loans cannot be much emphasised. They offer liberty to the borrower to use the borrowed amount as per their discretion to meet the personal financial needs. The best part about these loans is that they don’t require any collateral and hence can be availed quickly. The lenders grant these loans to the individuals who meet their eligibility criteria which encompass age, income and present liabilities. The borrower is also required to submit key documents alongside their personal loan application. The lender checks for the authenticity of the borrower on account of these documents and once verification of these credentials are done, the loan gets approved and the money gets disbursed in the account.

Different lenders seek different documents. But the documents pertaining to one’s KYC and income remains constant with one and all. To get a personal loan application approved quickly, it is important to keep all the documents in place.


Salaried individuals need to submit the following documents :

           1. Identification Proof: Any one of the following can be submitted as proof of identification.

  • PAN card
  • Passport
  • Driving License
  • Voter ID
  • Employee ID
  • Bank Passbook
  • Ration card

    2. Address Proof: Any one of the following can be submitted as proof of address.
  • Passport
  • Utility bill (telephone, electricity, water, gas) – less than 2 months old
  • Letter from a recognized public authority verifying the customer’s residence address
  • Bank Passbook or Latest Bank Account Statement
  • Voter ID Card
  • Ration Card
  • LIC Policy Receipt

    3. Residence Ownership Proof: Any of the following document can be submitted for the same.
  • Property Documents
  • Maintenance Bill
  • Electricity Bill

    4. Income Proof: Depending on the type of employment, the borrower can submit any of the following document.
  • Payslip (Last 3 months)
  • Bank Statements (3 – 6 months)
  • Passbook (3 – 6 months)
  • Increment or Promotion letter
  • Certified letter from Employer

    5. Tax Paid: The borrower can submit any of the following as proof of tax paid.
  • IT returns for 2 years
  • Form 16

    6. Proof of Job Continuity: Any of the following documents can be submitted for the same.
  • Current job appointment letter
  • Current employment certificate

    7. Experience Certificate- The borrower also needs to submit a previous job certificate or appointment and relieving letter.
    8. Last 6 months bank statement of salary account.
    9. Passport sized coloured photograph.
    10. Investment proof (if any): shares, fixed assets, fixed deposits etc.
    11. Existing loans: If there is an ongoing loan, the borrower needs to submit the sanction letter and payment track record.

Self-employed individuals/ businessman need to submit the following personal loan documents:

           1. Identification Proof
           2. Proof of Address
           3. Residence ownership proof

  • Electricity bill
  • Property documents
  • Maintenance bills

    4. Office address and ownership proof
  • Electricity bill
  • Property documents
  • Maintenance bills

    5. Proof of business existence
  • Sales deed/ agreement (executed)
  • Saral copy (3 years old)
  • Copy of tax registration
  • Company registration license

    6. Proof of income
  • Last 2 years Income tax returns of the applicant along with computation of income duly attested by a Chartered Accountant
  • Audited balance sheet and Profit & Loss accounts, including the tax audit report, if applicable 

    7. Latest 1-year bank statement of both saving and current accounts
    8. Passport sized colour photograph
    9. Investment Proof: shares, fixed deposits, fixed assets etc.
    10. Existing loans: In case of any existing loan, need to submit sanction letter, payment track record
    11. Professionals need to submit a professional degree certificate.

Lack of any of the above documents alongside the loan application form can result in getting your personal loan application getting rejected which could hamper your credit score badly.

LoansJagat offers an excellent, unbiased and transparent platform wherein the borrower can compare different lenders and read, understand and analyse their offerings in terms of rate of interest, loan tenure, EMI, loan amount, disbursal time, additional charges and fees etc and choose the one which best suits their needs and requirements. One can directly apply to the chosen lender through their online portal, fill in the application form and upload the requisite documents. A dedicated loan advisor from LoansJagat will get in touch with you and help you sail through the loan processing seamlessly. They ensure quick loan approval and instant loan disbursal in your account and thus minimise the hassle of the loan application process.

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