वैयक्तिक ऋण के लिए आवश्यक दस्तावेज

A personal loan is a friend in need when it comes to emergency cash requirements as it helps you meet your immediate financial needs. All sorts of government and private banks in India give personal loan facilities if you have correct documents ready.

Generally banks don't charge an arm and a leg for a personal loan approval, all you need is a correct set of documents.

Documents Required for Personal Loan

Getting a personal loan without the right documents is a kind of mission impossible, thus it is important to check the documents list in advance and keep a set of documents handy before applying for a personal loan.

Let us see, what are the documents required for a personal loan for different kinds of applicants.

List of Documents Required for Salaried Employees

• Income Proof - Copy of Form 16, last 3 months’ bank account statements / salary certificate or salary slips of the account where the salary is being credited.
• Identity Proof - A copy of PAN card/ Aadhar card/ voter’s ID card or driving license.
• Address Proof – A copy of driving license/ utility bills/ bank statement / Aadhar card
• Employment Proof - A copy of job appointment letter/ contract / company’s / HR’s email ID or official identity card.
• Residence Ownership Proof - Copy of property documents, maintenance bill and electricity bill of the residence.
• Investment Proof (if any) - Copy of receipts of fixed deposits or mutual fund
• Photograph - Latest coloured passport-size photograph.

List of Documents Required for Self Employed

• Income Proof - Copy of latest income tax returns submitted by the applicant, documents supporting the audited financials of the past 2 financial years and your last 6 months’ bank statements.
• Identity Proof - A copy of PAN card / passport / voter’s ID card or driving license.
• Address Proof - A copy of passport / Aadhar card or utility bills
• Office Address Proof - Copy of incorporation documents/ registration certificates/ MSME/ GST registration document or shop & establishment act certificate of the commercial space.
• Office Ownership Proof - Copy of Maintenance bill, property documents or electricity bill of office.
• Business Existence Proof - A copy of company registration license or tax registration.
• Photograph - Latest coloured passport-size photograph.

List of Documents Required for Pensioners

• Income Proof - Copy of pension document / bank account statements.
• Identity Proof - A copy of Aadhar card / PAN card / voter ID card / passport or driving license.
• Address Proof - A copy of driving license / utility bills / bank statement / Aadhar Card
• Photograph - Latest coloured passport-size photograph.

List of Documents Required for Women

• Income Proof - Copy of last 2 months' salary slips or the previous 3 months' bank statements in case of a salaried employee and a copy of latest ITR, Form 16 or last 3 months’ bank statements for a self-employed applicant.
• Identity Proof - A copy of PAN card/ Aadhar card/ voter’s ID card or driving license.
• Address Proof - A copy of driving license/ Aadhar Card / utility bills/ bank statement in case of a salaried employee and a copy of company registration license or tax registration in addition, for a self-employed applicant.
• Photograph - Latest coloured passport-size photograph.

List of Documents Needed for Personal (Pension) Loan for Senior Citizen ( Pension Loan )

• Income Proof - Copy of pension document (if any) / bank account statements / PPO
• Identity Proof - A copy of Aadhar card / PAN card / voter ID card / passport or driving license.
• Address Proof - A copy of PAN card / driving license / utility bills / bank statement.
• Photograph - Latest coloured passport-size photograph.

* NRI is not eligible to avail Personal Loan in Bank of Baroda.

Importance of Documents while Applying for a Personal Loan

Documents submitted by an applicant plays a vital role in getting quick personal loans approved and if there is any kind of discrepancy in the documents, the same needs to be corrected in order to avoid hassle while submitting a personal loan application.

Another factor to keep in mind is that banks review the documents submitted by the applicant. So a complete and correct set of documents could help you get your loan faster whereas a single incorrect document could result in the rejection of your personal loan application.