Important Documents Required for Personal Loan: Salaried and Self Employed

A personal loan is an unsecured loan that you can use to fund specific personal expenses, including debt consolidation, home renovation, funding a vacation, higher education, wedding, medical costs, and for any other quick needs. The documentation that lenders want for personal loans also varies depending on the application groups, such as salaried people and professionals who work independently.

Personal loans can come in handy when you need money quickly. Collateral-free and quick to acquire compared to other finance choices, personal loans can be a realistic solution to meet your immediate necessities.

Read the below list of documents needed for a personal loan to guarantee that your loan application goes successfully. To know more about the personal loan eligibility and required documents read further. 

Personal Loan Documents Required (Salaried)

Here is a list of documentation needed for salaried personal loans:

Income Documentation

Salary certificate (in English) or salary stubs for the last six months.

Address Proof

Driving License, Utility Bills, Bank Statement, PAN Card or Ration Card.

Employment Proof

Appointment letter, job agreement, HR’s or official email ID,  employment card/CDC. 

Identity Proof 

PAN Card/ Aadhaar Card/Voter’s ID/ Driving license.

(It is a certificate supplied to salaried individuals by their employer when he deducts tax from the employee’s salary).

Bank statements for the last three months (where salary is credited)

Photograph in passport size. 

Proof of Job Continuity

Income proof includes Indian and international bank account statements for the last six months and a salary certificate (in English) or salary slips for the previous six months.

Proof of Residence Ownership

Property documents, maintenance bills, and utility bills

Investment Evidence (optional)

Fixed deposits and investment receipts from mutual funds

Personal Loan Documents Required List (Self-Employed)

Here is a collection of paperwork for self-employed personal loans:

Income Verification

The most recent income tax returns, as well as audited financials for the previous two fiscal years and bank statements for the previous six months, must be presented.

Identification Proof 

Photo Identification PAN card, passport, voter ID, or driving license as proof. 

Residential Proof 

Passport, Aadhaar card, utility bills, and ration card as proof of residency.

Office Address Proof  

Proof of incorporation documents/registration certificates/MSME/GST registration/Shop and establishment act certificate.

Evidence of Office Ownership

Maintenance invoice, property documents, or an electric bill.

Evidence of Business Existence

Copy of a company registration license or tax registration.

Photograph 

Passport-size photo. 

Why Choose TrueBalance? 

It will take time to obtain a loan from a regular bank. On the other hand, instant personal loan apps have irrevocably transformed the lending market. I recently obtained a loan from TrueBalance, a straightforward loan app. You do not need to keep documentation on hand to obtain a fast loan. To receive fast cash, users need to download the TrueBalance app from the Google Play Store, fill out the required information, and submit the online application. This technique simplifies the process for customers who want to avoid loans from local lenders that may charge exorbitant interest rates.

What is Personal Loan Eligibility?

Anyone above the age of 18 is eligible for the loan. The only documentation required to obtain these loans is as follows:

  • PAN Card
  • Aadhaar Card 
  • Latest Bank Statement

TrueBalance’s loan app offers immediate loans a reality by expediting approvals, removing the need for bank visits, and facilitating quick transfers.

TrueBalance is the most reliable instant personal loan app, and is the perfect location to apply for instant loan online. Customers can quickly and easily acquire urgent loans using the TrueBalance app without providing any assets or security in exchange. So stop rushing; this lending software will get you there in seconds. TrueBalance loan app will provide a short-term loan in a few simple steps. A personal loan can be approved with just a few pieces of information. Install the loan app from the Google Play Store and read the benefits.

Apply for a personal loan with TrueBalance right away! 

Leave a Reply

Your email address will not be published. Required fields are marked *