When you are in sudden need of a large sum of money, one of the best ways to arrange it is to get a personal loan from a bank or NBFC or a loan aggregator like Buddy Loan.
To obtain this loan, one of the most important requirements is to provide some necessary documents.Buddy Loan helps you to understand the common documents asked by most of the lenders to understand the financial capability of the borrower and to know whether he/she is capable of repaying the loan amount.
Besides this, it also helps the lender to understand and verify person details of the borrower such as their name, age, income, employment status, employer details and address.
Based on this information, the lender decides whether or not to disburse the loan amount to the application.Apply instant personal loan online.Documents Required to Get Personal LoanBuddy Loan has a wide pool of loan providers like Banks / NBFCs, which require a particular set of documents for a loan applicant to verify their details and assess their financial capability.
These documents may differ depending on whether the applicant is a salaried individual or self-employed.
Following documents are required from salaried individuals’ application for a personal loan:Proof of Identity: Passport / Driving License / PAN Card / Voter ID CardProof of Residence: Passport / Utility Bills / Ration CardIncome Proof: Form 16 and Salary slips for last 3 monthsProof of Age: Passport / PAN Card / Driving License / Voter ID CardJob Continuity Proof: Current Job Appointment Letter or Current Employment Certificate and Experience CertificateBank Statement: Statement of bank account for the last 6 monthsSanction Letter and Payment Track Record, in case of existing loansPassport size color photoDuly Filled Personal Loan ApplicationIf the applicant for the personal loan is a professional or self-employed professional, the lending institution would require the following documents.Proof of Identity: Passport / Driving License / PAN Card / Voter ID CardProof of Residence: Passport / Utility Bills / Ration CardProof of Age: Passport / PAN Card / Driving License / Voter ID CardProof of Office Address: Utility Bills / Maintenance Bills / Property DocumentsProof of Office Ownership: Utility Bills / Maintenance Bills / Property DocumentsIncome Proof: Income Tax Returns for the last 2 years including computation.Proof of Business Existence: Shop Establishment / Salary Statement for last 3 yearsPassport size color photoDuly Filled Personal Loan ApplicationGet personal loan online via Buddy LoanOnly after submitting the above-mentioned documents, the bank / NBFC can process your loan application and disburse the loan amount.