What are the Documents and Eligibilty Criteria for Personal Loan?
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Personal loans are a great way to raise money for your short-term needs at reasonable rates. Their main attraction is the freedom you get on how you want to spend this money. Normally you only need a few documents to apply for a personal loan. It is important to note that the documents required for salaried and non-salaried documents may differ depending on the lender.
Sapna aapka. Personal Loan Humara
Apply NowEligibility Criteria
Here is a general Eligibility criterion that most lenders may follow to evaluate their borrowers. Please note that the eligibility criteria may vary depending on the lender you choose.
- Indian National
- Between 21 and 60 years of age
- 750+ CIBIL Score
- Minimum Salary Criteria (if employed)
- Minimum years of business existence (for Business owners)
Simply search for an online personal loan eligibility calculator for self-employed candidates to see the maximum amount you might be able to acquire based on your income and current monthly obligations. You can choose a tenure using a personal loan EMI calculator so that the EMI payment is within your price range.
What are the documents required for a personal loan?
Please note that the documents required may vary depending on the lender you choose. Here is a list of general documents you may require irrespective of your employment status:
- PAN Card
- Identity Proof (Aadhaar Card, Driving licence, Passport, Voter ID, etc.)
- Signature Proof (Passport, PAN card, etc.)
- Address proof (Passport copy, Aadhaar card, driving licence, utility bill – gas or electricity
- bill, Voter ID, ration card, rent agreement, etc.)
- Bank statements of the past 6 months.
Additional documents for salaried borrowers are:
- Salary slips for the last three months
- Income tax returns OR form 16
Sapna aapka. Personal Loan Humara
Apply NowAdditional documents for business owners:
- Business proof (License, registration certificate, GST number)
- Balance sheet and profit and loss account, income computation for the last 2 years
- IT Assessment OR Clearance Certificate
- Income Tax Challans OR TDS Certificate (Form 16A) OR Form 26 AS for income declared in ITR
- Income Tax Returns for the last 2 years