Documents Required for Personal Loan

Author : Vikas singh | Published On : 09 Nov 2023


Personal Loan is the type of financial aid that we get from banks and NBFCs to quench our financial thirst. Life can not be planned every time and there are times when we face financial crunch. To help borrowers at this time, banks provide personal loans. This loan can either be secured or unsecured. A secured personal loan is one that needs collateral and an unsecured personal loan does not need any collateral. The unsecured personal loan is approved based on the eligibility criteria of the banks. 


The personal loan eligibility criteria include a CIBIL Score of more than 700, stable income proof, and bank statements. A person who has passed the eligibility criteria will get the loan approved within hours. The interest rate for a personal loan starts from 10.25% P.A. You can check the EMIs from the Personal loan EMI calculator and can pre-plan the 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:



  • Address Proof: Documents that verify your personal loan KYC documents 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.

         This is all personal loan documents required for you.


How to get deals on Personal Loan? 

The borrower can get deals on Personal Loans and can get the personal loan at a lower interest rate if you pass the eligibility criteria set by the banks. It is important to note that if the borrower defaults on the repayment then one shall not be able to avail of the benefits.


When you get a new Personal Loan you have to present the details of all the running loans. If you default in repaying the loan then it shall be reflected in your Credit Score making it more difficult to get the loan. Furthermore, you should know that the loan amount that you will be getting directly depends upon your salary and the FOUR. FOIR is a fixed obligation income ratio i.e. how much you are spending in debt in a month. Maintain these things and get your personal loan at a low-interest rate. 


How to get a personal loan? 


  • Visit the lender’s website. (For example visit

  • Go to the section of Personal Loan and click on the Apply Now button. 

  • Fill in the Personal Loan application form online and get an application tracking ID. 

  • Get the approval for a Personal Loan within minutes. 

  • Enjoy quick disbursal of your Personal Loan within hours from the lender at the lowest interest rate. 



The article above will tell you the tips and tricks for taking a personal loan. It shall guide you in getting the personal loan at the lowest interest rate from the correct lending institution. It's essential to check with the specific lender you intend to approach for a personal loan, as they may have additional document requirements or variations in the above list based on their internal policies and guidelines. Additionally, having a good credit score and a stable income will significantly improve your chances of getting approved for a personal loan with favourable terms. Make loans a planned decision with My Mudra.