When applying for a personal loan in Noida, consumers are required to present a series of documents that differ depending on the lender and whether the applicant is salaried or self-employed. Personal loans are no different from other loans when it comes to submitting the necessary documents.
You must give your lender specific documentation in order for your personal loan to be accepted. These records assist in proving your financial and personal details. Before deciding whether to make you a loan offer, a lender will examine them. Knowing the personal loan documents required by your lender can help you get ready for the application process and improve your chances of getting accepted.
To help you out, we have provided you with a list of necessary documents that you should keep ready while applying for a personal loan.
List of Necessary documents for Personal Loan
Whether you are a new applicant or a recurring applicant for a personal loan. The following documents are necessary before you apply for a personal loan.
Documents for salaried individuals
If you are a salaried employee, you will need to submit the following documents for applying for a personal loan in Noida.
Mandatory Documents
- Application form
- Coloured passport-size photo
Identity Proof (anyone)
- Aadhaar Card
- Passport
- License
- PAN Card
Residential Proof (any one)
- Passport
- Drivers License
- Ration Card
- Utility Bill
- Aadhaar Card
Income Proof
- Form 16
- A six-month salary slip
- Six-month bank account statement
Residence Ownership Proof
- Property paperwork
- Power bills
- Maintenance bills
Job Continuity Proof
- Current employer letter of employment
- Experience certificate from the previous employer
Documents for Self-employed Individuals
Take a look at the list below to know the necessary documents that you will need to submit if you are a self-employed individual.
Mandatory Documents
- A fully filled-out application form
- A coloured passport-size photo
Identity Proof (anyone)
- Aadhaar Card
- Passport
- License
- PAN Card
Residential Proof (any one)
- Passport
- Drivers License
- Ration Card
- Utility Bill
- Aadhaar Card
Income Proof
- Form 16
- A six-month salary slip
- Six-month bank account statement
Office Address Proof (anyone)
- Property documents
- Rent agreement
- Maintenance bill
- Utility bill
Business Existence Proof
- Copy of tax registration
- Proof of shop establishment
- Certificate of company registration
Am I Eligible to Apply for a Personal Loan in Noida
To know whether you are eligible to apply for a personal loan or not, here is a list of eligibility criteria for a personal loan:
- Age: You must fall between the age range of 21 to 58.
- Citizenship: You must be a citizen of India.
- Occupation: This loan is available for both Self-employed and salaried employee
- Work Experience:
- If you are a salaried employee, you need to have been working for at least six months.
- If you are a self-employed employee, you need to have experience in your present industry for at least two years.
- Monthly Income: You must earn at least ₹15,000 per month to be eligible for a personal loan
- Credit Score: This is usually not listed in your lender’s list of qualifying criteria, but having a credit score of 720 or more is required to apply for a personal loan.
Whether you are a new applicant or a recurring applicant for a personal loan. The following documents are necessary before you apply for a personal loan.
So these are the personal loan documents required when you apply for a personal loan. You can save a lot of time if you have these documents ready before applying for a personal loan in Noida. Furthermore, if you have all of your documents prepared, you may lessen your chances of having to deal with financing and application procedure delays. Before we depart, we urge that you review your lender’s list of documents, since some lenders may require additional documents.