List of Personal Loan Documents Required for Salaried, Self-employed, NRIs & Pensioners

Personal loans can come in handy during any emergency need for cash. Collateral-free and easy to access compared to other financing options, personal loans can be a viable option to fund your immediate requirements. However, your personal loan application can get rejected if you don’t have the right documents in place. To ensure that your loan application goes through smoothly, we have compiled a list of documents required for a personal loan. Read on!

Documents Required for Personal Loans 

List of Personal Loan Documents Required (Salaried)

Here is a list of documents required for personal loans for salaried:

1. Income Proof: Both Indian and international bank account statements for the last 6 months, Salary certificate (in English) or salary slips for the last 6 months
2. Address Proof: PAN Card, Driving Licence, Utility Bills, Bank Statement or Ration Card
3. Employment Proof: Appointment Letter, job contract, HR’s email ID or official email ID, Labour/ Identity card/CDC (for NRIs working in the Middle East or employed in Merchant Navy)
4. Identity Proof: PAN Card/ Aadhar Card/ Voter’s ID/ Driving license
5. Latest from 16 (It’s a certificate issued to salaried individuals from their employer when he deducts tax from the employee salary)
6. Last 3 months’ bank statement (where salary is credited)
7. Passport size photograph
8. Job Continuity Proof: Income Proof: Both Indian and international bank account statements for the last 6 months, Salary certificate (in English) or salary slips for the last 6 months
9. Passport size photograph
10. Proof of Residence: Utility bills (not older than three months)
11. Ownership of Residence Proof: Property documents, maintenance bill, and electricity bill
12. Investment Proof (optional): Fixed deposit, mutual fund investment receipts

Also Read: How To Apply For 1 Lakh Instant Personal Loan In India: Check Eligibility, Features & Benefits

List of Personal Loan Documents Required (Self-Employed)

Here is a list of documents for personal loans for self-employed:

1. Income Proof: Latest submitted income tax returns along with audited financials for the past 2 financial years and the last 6 months’ bank statements
2. Photo Identity Proof: PAN card, passport, voter’s ID or driving license
3. Residential Proof: Passport, Aadhaar card, utility bills, ration card
4. Office Address Proof:  incorporation documents/ registration certificates/ MSME/ GST registration/ Shop & establishment act certificate
5. Office Ownership Proof: Maintenance bill, property documents or electricity bill
6. Proof of Business Existence: Company registration license or tax registration copy
7. Photograph: Passport size photograph

Also Read: How To Get A Personal Loan For Self-Employed: Benefits, Interest Rates, Eligibility And Documents

List of Personal Loan Documents Required (Pensioners)

1. Identity Proof: Aadhaar Card, PAN Card, Voter ID, Passport or Driving License
2. Address Proof: PAN Card, Driving License, Utility Bills, Bank Statement or Ration Card
3. Income Proof – Salary Slips or Bank Account Statements
4. Passport-size photograph

List of Personal Loan Documents Required (NRIs)

1. Identity Proof: Aadhaar Card, PAN Card, Voter ID, Passport or Driving Licence
2. Address Proof: PAN Card, Driving Licence, Utility Bills, Bank Statement or Ration Card
3. Income Proof: Both Indian and international bank account statements for the last 6 months, Salary certificate (in English) or salary slips for the last 6 months
4. Employment Proof: Appointment Letter, job contract, HR’s email ID or official email ID, Labour/ Identity card/CDC (for NRIs working in the Middle East or employed in Merchant Navy)
5. Passport-size photographs

However, with Navi Personal Loan, there’s no heavy paperwork required. All you need to do is download the Navi app and apply for a loan with your Aadhaar and PAN number.

Also Read: How To Get An Instant Personal Loan With Aadhaar Card

Importance of Documents while Applying for a Personal Loan

Providing correct documents to your lender could help you get your loan faster. Banks and NBFCs review your documents to gauge you as a borrower. However, with significant advancements in the personal finance space owing to technology, you may not need a host of documents to provide while applying for a loan. However, it’s advised to keep these documents in handy in case your lender wants to further review your profile.

Any incorrect document could result in the rejection of your loan application. The loan documents play a very important role, and if there are any deficiencies in the loan documents, the same need to be corrected to avoid any hassle during personal loan application.

Apply for Instant Personal Loan with Navi without any Income Proof

Yes, you heard us right, no income proof is required. Yes, it’s possible to avail of a personal loan without furnishing any income proof. Features & benefits of personal loan when applied through Navi:

• Quick & easy process
• Loans starting from Rs. 10,000 to Rs.20 lakh
• 100% Paperless
• Interest rates starting at 9.9% p.a.
• Flexible tenures up to 72 months
• Instant approval within minutes
• No collateral
• No income proof needed
• Apply with PAN and Aadhaar number
• Minimal documentation

Steps to Avail of Instant Personal Loan with Navi

 Follow these few easy steps to get an instant personal loan from Navi:

1. Download the Navi app on Android or iOS.
2. Enter your mobile number to get OTP
3. Fill in your basic details – Name, DOB, PAN, Employment Type, Profession and Total Monthly Income
4. Check loan offer
5. Select loan amount and tenure
6. Link your bank account
7. Get funds instantly transferred to your bank account

Also read: Apply For Short Term Loan: Eligibility, procedure and benefits

Final Word

You may need a personal loan for a variety of reasons. However, without the right documents, your loan approval may get delayed or rejected. That’s why it is important to be prepared with the documents mentioned above. For a 100% paperless personal loan, install Navi app on Android or iOS today!

FAQs on Documents Required for Personal Loan

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