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Compared to other types of loans, personal loans
require you to produce the least number of documents. The necessary documents required
can be classified into three: documents supporting your identity, your residence
and your income.
Identity Proof:
A copy of any of your passport or driving
license, voters ID, PAN card, credit card with photograph, or employee ID card
with photograph. Any one of the above documents with your photograph is proof
that you are the same person as you profess to be.
Proof of
Residence:
A copy of your passport, ration card, or voters
ID if you reside at the same place as entered in the above-mentioned documents.
If you are staying as a tenant on rent, in a place different from where you have
been issued the ration card, passport, or voters ID, you can produce utility
bills (electricity or telephone) of the place as proof of residence.
Income Proof:
The proof of income for salaried individuals
differs from that of self-employed individuals. Salaried people need to submit
their latest salary slip, Form 16 for the last financial year, and their bank
statement for the last 6 months. Self-employed people need to provide their IT
returns for the last 2 years, balance sheet, and profit & loss account as
proof of income.
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