What Are The Requirement For Applying For A Personal Loans
Applying for a personal loan is one of the best ways to deal with sudden financial crises, buying something expensive, and keeping your savings untouched. You can apply for a personal loan for multiple purposes and avail of its benefits such as low-interest rates, flexibility, and versatility without any collateral.
If you’re looking to apply for a personal loan as well, there are a certain set of documents that are required to submit. These requirements vary from lender to lender and the type of applicant applying for the loan.
Document Required to Apply for Personal Loans
Whether you apply for an offline or online personal loan, mentioned below are general requirements you need to fulfil.
- PAN Card
- Signature proof (Pan card, Passport, etc.)
- Last 6 months’ bank statement
- Any Identity proof (Aadhaar Card, Voter ID card, Passport, etc)
- Address proof (Aadhaar card, Rent Agreement, utility bills, Passport, Driving Licence, etc.)
For Self-employed Individuals (Additional Requirements)
As mentioned earlier, personal loan eligibility depends on the type of applicant. If you’re self-employed, you are additionally required to submit the following. Applying Personal Loans
- Business proof (GST number, Licence, Registration Certificate)
- Last 2 years’ income tax returns
- Clearance certificate or IT assessment
- Balance Sheet
- Profit and loss account
- Income computation for the last three years
- Income tax challans or form 16A or TDS certificate
For Salaried Employees (Additional Requirements)
- Last three months’ salary slip
- Income Tax Returns OR form 16
Additional documents may also be needed depending on your profile and lender needs. If you also wish to apply for a personal loan online, feel free to consider WeFin.
Working in partnership with India’s most trusted banks and NBFCs, WeFin is a platform where you get a safe, smooth, and speedy experience of applying for a personal loan. We provide you with multiple offers so that you get the best possible deal and save both your money and time with low interest and quick approval service. Applying Personal Loans
Get in touch today!