Documents Required for Personal Loan

Documents required for Personal Loan
The specific documents required personal Loan may vary depending on the lending institution and the country's regulations. However, here is a general list of documents commonly requested by lenders when applying for a personal loan:

1. Identification Proof: A government-issued photo ID, such as a passport, driver's licence, or national ID card.

Address Proof: Documents that verify your current address, such as utility bills (electricity, water, gas), rental agreement, or a bank statement.

Income Proof: Depending on your employment status, this could include:
- For Salaried Employees: Recent payslips, Form 16, or an employment certificate from the employer.
- For Self-Employed Individuals: Income tax returns (ITR) along with financial statements like balance sheets and profit and loss statements.

Bank Statements: Typically, the last three to six months' bank statements to show your income and financial transactions.

Employment Proof: Employment verification letter or offer letter from your current employer, if applicable.

Credit Score: Lenders may ask for authorization to check your credit score and credit history.

Photographs: Passport-size photographs.

Loan Application Form: Filled-out loan application form provided by the lender.