Looking for a personal loan? Have these documents handy while applying.

Proper documentation is very important in all aspects of life and if you are going to do anything related to money or the modern financial system, it is very important to have proper documents with you. In the absence of proper documents or if there is any mismatch or incorrect details or particulars in the documents, you can be denied the service you apply for. This is of extreme importance if you are applying for the loan through a money loan app which requires minimal but accurate documentation.

So, if you are planning to apply for an online loan, then you must make a note of these documents and keep them handy on your phone.

Identification and KYC Documents

  • Aadhaar Card: This is the most common proof of identity verification in India today and is possessed by almost all the people living in India. The Aadhar card is the primary way with which almost every instant money loan app in the country today, because the verification can be done over the internet within a matter of minutes using a one-time password sent to the registered mobile number by the Unique Identification Authority of India. If you have an Aadhaar Card, use this document first time, every time for proving your identity.
  • Smart Card Driving License: This is another document that is accepted by the lenders which offer the online loan services to people at large. It must be kept in mind that smart card driving license is one which comes with a chip embedded in it. Also, there may be cases where certain lenders will only accept lenders issued by certain states. Similarly, be aware that some lenders will only accept smart card driving license issued after a certain period. Use this only if you do not have the Aadhaar card available with you.

Income Tax Related Documents

  • PAN Card: Income Tax system in India is based on one key thing – the Permanent Account Number (PAN). A person who is expected to pay income tax in India is also expected to get a PAN based on which their tax liability and any advance tax paid or tax deducted at source or tax collected at source are tracked and accounted for. When you apply to get a PAN, you are given a PAN card which acts as a proof that this PAN is assigned to you. A copy of PAN card has to be given with the loan application.
  • Income Tax Return Form: The income tax return form is the full and final statement of all the income you made in a given year and how much income tax you have already paid on it as well as how much your tax liability is open which is to be paid with the return form when it is submitted to the income tax department. It is an authenticated to prove that you made this amount of money in a year and this much tax was paid on it.

Income Related Documents

  • Salary Slip: For the people who are working in a salaried job, it is very important to prove that they are making a set amount of money in a given year as well as that they are making the minimum amount of money which makes them eligible to get the loan amount which is most cases will be somewhere around the Rs. 15,000 mark, plus or minus a few percent. Salary slip is the primay way to prove your income for a online loan app.
  • Form 16: Form 16 is the statement issued by the Income Tax Department about how much tax was deducted at source from the payments made to the person. It is one way to authentically prove what your income was in a given year and what tax was paid for the same.

Account Related Documents

  • Account statement: A statement of account is one important document that is needed to apply for an online loan because it provides details of financial transactions that you had in a given period of time. For the people who are self-employed, lenders recommend that you submit statement of an account that has the highest number of transactions. It can thus act as a proof of income for professionals as well as people who are self-employed. Similarly, it also works as the way to provide information about the account in which the loan amount is to be credited as well as from where the EMI auto debit is to be set up.


When collecting all these documents, it is very important to make sure that all the documents are accurate and match in all details. Even a spelling difference on your documents can lead to a loan rejection. If you think or notice any mistake in any of the documents, it is very important for you to get these rectified before you apply for a loan.


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