Personal Loan Documentation for Salaried, Self-Employed & Pensioners

Q: Are salary slips mandatory for availing of a personal loan?

Yes. Salary slips are mandatory while applying for a personal loan, especially if you are a salaried individual. As an applicant, you can support these documents by submitting copies of your bank account statements or other personal loan documents mentioned above.

Q: Do all borrowers need to submit the same documents when applying for a personal loan?

The documents required while applying for a personal loan may vary, depending on the lender's requirement, the type of borrower (salaried or self-employed), and the loan type. Applicants may be asked to submit additional documents if necessary.

Q: Which personal loan documents are used as proof of income?

Listed below are some personal loan documents that can be used as proof of income.Salary slipsBank account statementsIncome tax returns statementsForm 16 (for salaried individuals)

Personal loans are unsecured loans that you can use to meet your personal financial needs. This could include medical expenses, higher education, wedding, vacation, home renovation, etc. Depending on the applicant's category, a personal loan often requires documentation and paperwork. Some types include salaried individuals, self-employed professionals, Pensioners, Women, Senior Citizens, or NRIs (Non-Resident Indians). We at Piramal Finance are committed to ensuring that your loan journey is as smooth as possible. You can apply for a personal loan without worry with a few documents and minimal paperwork.

Listed below are documents required for each category of the applicant that you should know of when applying for a personal loan.

Personal Loan Documents for Salaried Individuals

If you are a salaried individual, you must submit the documents below while applying for a personal loan.

Proof of Income:

Last 3 months' bank account statements/ salary slips of the account where the salary is credited every month.

Proof of Identity:

A copy of the Aadhaar card/ PAN card/voter's ID or driving license.

Proof of Address:

A copy of the Aadhaar card/driving license/ bank statement/ utility bills.

Proof of Employment:

A copy of the appointment letter/ company contract/ company or HR's email ID/ official identity card.

Proof of Residence:

A copy of maintenance bill/ electricity bill/ property documents.

Proof of Investment (if any):

A copy of receipts of mutual funds/ fixed deposits/ recurring deposits, etc.

Photograph:

Latest colored passport-size photograph.

Personal Loan Documents for Self-Employed Individuals

If you are a self-employed individual, you must submit the documents below while applying for a personal loan.

Proof of Income: A copy of the latest income tax returns, documents supporting the audited financials of the past 2 financial years, and the last 6 months' bank account statements.

Proof of Identity: A copy of the Aadhaar card/ PAN card/ passport/voter's ID/ driving license.

Proof of Address: A copy of the Aadhaar card/ passport/ utility bills.

Proof of Office Address: A copy of incorporation documents/ MSME/ registration certificates/ GST registration document/ shop and establishment act certificate of the commercial space.

Proof of Office Ownership: A copy of maintenance bill/ property documents/ office electricity bill.

Proof of Business Existence: A copy of company registration license/ tax resignation.

Photograph: Latest colored passport-size photograph.

Personal Loan Documents for Pensioners

If you are a pensioner, you must submit the below-mentioned documents while applying for a personal loan.

Proof of Income: A copy of pension documents/ bank account statements.

Proof of Identity: A copy of the Aadhaar card/ PAN card/ passport/voter's ID/ driving license.

Proof of Address: A copy of the Aadhaar card/ passport/ utility bills/ bank statement

Photograph: Latest colored passport-size photograph.

Personal Loan Documents for Women

If you are a woman applicant, you would require to submit the below-mentioned

Proof of Income: A copy of the last 2 months' salary slips/previous 3 months' bank account statements in case the applicant is a salaried employee. A copy of the latest income tax returns, Form 16/ copy of the last 3 months' salary slips in case the applicant is self-employed.

Proof of Identity: A copy of the Aadhaar card/ PAN card/voter's ID/ driving license.

Proof of Address: A copy of the Aadhaar card/ passport/ utility bills.

Proof of Office Address: A copy of the Aadhaar card/ driving license/ utility bills/ bank statement if the applicant is a salaried individual and a copy of company registration or tax registration if the applicant is self-employed.

Photograph: Latest colored passport-size photograph.

Personal Loan Documents for Senior Citizens

If you are a senior citizen, you must submit the below-mentioned documents while applying for a personal loan.

Proof of Income: A copy of pension documents (if any)/ bank account statements/ PPO

Proof of Identity: A copy of Aadhaar card/ PAN card/voter's ID/ driving license/ passport.

Proof of Address: A copy of Aadhaar card/ PAN card/ driving license/ utility bills/ bank statement.

Photograph: Latest colored passport-size photograph.

Personal Loan Documents for Self-Employed Individuals

If you are a self-employed individual, you must submit the documents below while applying for a personal loan.

Proof of Income: A copy of the last 6 months' bank account statements/ pension payment order/ income tax returns/ bank passbook/ Form 16.

Proof of Identity: A copy of Aadhaar card/ PAN card/voter's ID/ driving license/ passport.

Proof of Address: A copy of Aadhaar card/ driving license/ passport/ utility bills.

Photograph: Latest colored passport-size photograph.