A Quick Documents Checklist for a Personal Loan

A personal loan is one of the most covetable loans. Easy eligibility criteria and minimal documentation make this loan even more attractive. The lenders seek the KYC and financial documents of the applicant to check for his authenticity and genuineness. The loan application stands incomplete until and unless personal loan documents required are not attached alongside it.  Failing to submit the required documents can result in getting the loan application rejected. Thus, before one thinks of getting a personal loan, it is smart to get all the documents handy.

The lenders seek the following documents from the personal loan applicants. These documents can be submitted either as hard copy by physically visiting the bank or by uploading a scanned copy on the digital platform/website of the lender.


KYC or ‘Know your customers’ are the basic documents pertaining to the identity, age, gender, address, and physical appearance of the applicant. The lenders seek these documents to have the basic knowledge about the applicant to whom they are offering the loan.

The applicants are required to submit any photo identity proof like Passport, PAN Card, Voter ID card, Aadhar Card, Driving License, etc. For the proof of residence, the applicant can submit their passport, ration card, or a copy of any of the utility bills. The applicants are required to submit both the permanent and temporary(current) address proof (if both are different). For age proof, one can submit either their Driving license, Voter ID, passport, or PAN Card.

The applicants also need to submit the latest passport-sized photograph along with the application form.


To be honest, the lenders are mainly concerned about the repayment of the loan. Even though the CIBIL score may show your past payment credentials, still the lenders seek certain financial documents to assure themselves of your repayment capacity. For the same purpose, they seek proof of your income and job continuity. One can submit a payslip and bank statement of the past 3 months as income proof. For proof of job continuity, one can submit their job offer letter, experience certificate of the last job, or employment certificate of the current job.

The lenders also seek employment. Documents requirement varies for salaried individuals and self-employed professionals.

Salaried individuals need to submit the following financial documents:

  • Proof of income: The applicant needs to submit Form 16 along with the salary slip for the last 3 months.
  • Proof of job continuity
  • Past 6 months bank statement.
  • Sanction letter and payment track record of ongoing loans (if any).

Self-employed individuals (professional and non-professional) need to submit the following financial documents:

  • Proof of Office Address: The applicant can give either a copy of utility bills, maintenance bills, or property documents as proof of office address.
  • Proof of Office Ownership: The applicant can give either a copy of electricity bills, maintenance bills, or property documents as proof of office ownership.
  • Proof of Existence of Business: For the same, the self-employed applicant can submit a shop establishment or salary statement of 3 years.
  • Proof of Income: The applicant needs to submit the IT return of the last 2 years along with computation from CA.


Personal loans are unsecured in nature which means that the lender is at risk if the applicant defaults. To be safe, the lender conducts verification of the applicant on account of the KYC and financial documents he submits. On the basis of these, the lenders decide whether to grant the loan or not. If anything seems fishy to the lender, he can straightaway reject the loan application without justifying for the same. Properly submitted documents make the whole process of loan application easy and quick. If the lender is satisfied, the personal loan is granted and disbursed quickly.

A personal loan is offered by several leading banks and NBFCs. One can also take the route of Fintechs for applying for the loan application by comparing different lenders. LoansJagat is one such platform that lets one compare and choose various lenders under one roof. They also let one apply for the loan and submit the documents all through their online portal. It is the easiest and convenient method of grabbing a personal loan in Delhi.

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