Q. What are the documents required while applying for personal loans in India?

A. For a salaried individual, banks will generally require the following documents:

• Proof of Identity (Passport Copy/ Voters ID card/ Driving Licence)
• Address Proof (Ration card Tel/Elect. Bill/ Rental agr. / Passport copy/Trade licence /Est./Sales Tax certificate)
• Bank Statements (latest 3 months bank statement / 6 months bank passbook)
• Latest salary slip or current dated salary certificate with latest Form 16 as the income proof
• The banks will also ask for photographs and signature proof.

Self Employed Individuals in addition to the proof of identity, address proof and bank statements will have to provide:

• Latest ITR along with computation of income, Balance Sheet & Profit and Loss account for the last 2 yrs. certified by a CA as the income proof
• Qualification proof of the highest professional degree