Dialabank: Personal loan Documents

Banks and non-bank financial institutions that provide personal loans need essentially three proofs.

One is for proof of sales, the other is proof of identity and the third is evidence of the address of the

borrower. In the last three months, lenders also need you to request bank account statements.

You will also fill in the Bank's application form.

These four documents are important for salaried, self-employed, and pensioners.

For NRIs the necessary documents are different. NRI applicants must submit a copy of their passport,

visa and Non-Resident Ordinary (NRO) and/or Non-Resident Rupee Account (NRE), in addition to proof

of income. The NRI must be present at the time of application in India and must have a close relative

within the country.

List of Documents for Salaried Individuals

The documents which are required for salaried individuals are proof of income, proof of address and

proof of identity. This is separate from the application process that must be duly filled out and signed.

Here is a list of the documents to be added to the application form:

Identity proof: This can be in the form of an Aadhaar Card, a valid Passport, a valid Voter ID, a valid
Driving License or a PAN Card.
Address proof: You can also request a copy of your ration card, passport, rent agreement or any service bill such as telephone or electricity bill besides Aadhaar, voter ID and driving licence.
Income verification: You will request a copy of your new payslip or a compensation certificate as proof of income. You will also be asked to request a copy of your most recent Form 16. Besides this, for the past three months, you must submit your bank account statement.
List of Documents for Self Employed Individuals

The basic requirement for self-employed individuals too is proof of employment, proof of identity

and proof of address. Additionally, self-employed people need to submit a declaration of ownership

or a declaration of partnership.

Identity proof: You submit a copy of your passport / Aadhaar Card, valid Voter ID, driving license and Pan Card as indicated above. Pan card submission is mandatory for any self-employed person, company or firm applying for a personal loan.
Address proof: You can request a copy of your Aadhaar Card, Passport, driving license, voter ID or rent a rental agreement for a copy of your utility bill.
Income proof: Since individuals who are self-employed do not have salary slips, they must submit a copy of their latest IT return. Besides that, they must apply an income estimate, recent balance sheets along with a profit and loss statement for the past two years that are accredited and audited by a chartered accountant. They must also give evidence of continuity.

List of Documents Required for Pensioners

If you are a pensioner applying for a personal loan, then the documents you must submit are as follows:

Identity proof: This may be in the form of a Voter ID, an Aadhaar Card, a PAN Card, a Passport, a driving license or a photographed ration card
Address proof: You can request a copy of your ration card, Passport, any utility bill, voter Identification, driving license or rent agreement, as discussed above.
Age verification: You do not have to apply a verification of your age separately if you have submitted the above documents. If required, however, you can submit a copy of your birth certificate, Pan card or certificate of departure from school.
Proof of income: This means a copy of the organization with which you were employed, and the latest pension slip. You must also submit bank account statements for the previous three months.

List of Documents Required for NRI Applicants

Though not all banks offer NRIs personal loans, some do. The applicant must be an Indian national, and the NRI is co-applicant. The two have to be close relatives, and when applying for the loan the NRI must be in India.

The documents to be submitted by an NRI applicant are as follows:

Evidence of nationality: You have to request a copy of your passport as evidence of your nationality.
Country of residence proof: You must submit a copy of your visa to prove that you currently reside in a
foreign country.
Income proof: The application form must be accompanied by a copy of your salary slip or salary certificate. Finally, you must apply your bank account statements. You must have an account with NRE or NRO. Statements must be submitted during the last six months.

Lenders offering low personal loan interest rates are as follows: