Benefits of taking a personal loans :-

1. Unsecured in nature with no requirement of collateral or a security

2. Fast turnaround with loan approval in as quick as a few hours. Banks now offer instant personal loans as well.

3. Minimum documentation with approval based on basic KYC, quick background checks, CIBIL score and income proofs

Personal Loan

Personal loans are unsecured loans available for both salaried and self-employed borrowers to help meet their general personal or private expenses that are urgent and immediate in nature. Unsecured loans are loans without any security that can be availed quickly. The rate of interest on personal loans is higher than that on secured loans. There are multiple personal loan providers in India which offer cheap and quick loans. You need a new loan only if:

  • You are in the midst of a financial crisis and need immediate funds.
  • You do not have a collateral to take a secured loan.
  • You do not have time to go through detailed documentation and loan process.
  • You need a short term loan of not more than five years.

Document Required For Personal Loan

Documents Required Individuals Firms, Partnerships
Signed Application Form Required Required
Identity Proof
PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card
PAN card, Passport, Driving License, Aadhar Card, Voter id, Govt issued i-card
Certificate and Proof of Business Existence
N/A
PAN , sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, Trade license, certificate of practice, registration certificate issued by RBI, SEBI
Address Proof
Passport, Driving License, Election ID card, Electricity/ Telephone/ Mobile bill/ bank statement (not more than 3 months old)
Bank statement, utility bill, Registry copy, lease or rent agreement, TAN allotment letter
Age Proof
PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate
PAN card, Passport, Driving License, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate
Income Proof
Last 2 years Form 16, last 6 months salary slip, last 6 months’ bank account statement showing salary credit
Last 2 years ITR, last 6 months bank account statement

Apply Now

Minimum 4 characters