Documentation and other formalities for Personal Loan

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Document Required for applying for Personal loan

  • Passport  size photograph.

  • Filled application form dully signed

  • Latest 3 months salary slips (indicating break up of gross salary i.e basic pay house rent and net salary after deductions)

  • 6 months Bank statement reflecting salary credits updated within last 15 days

  • Identity Proof (Any one): Pan Card, passport, driving license or voter's ID card, employee identity card as identity proof and signature proof incase of government employees.

  • Address Proof( Any one) : Passport, driving license, ration card, voter's ID card, bank statement, rent agreement telephone bill, electricity or water bill

  • Loan schedules and bank statement showing EMI debits (if any loan is running)

Loan Details

  • Rate of Interest differs according to the profile of the customer i.e company name, salary

  • Loan amount varies from 50,000 to 25,00,000

  • Processing fees is the charges which bank incur while processing of loan application. It's between 1% - 4% of the loan amount

  • Personal loan has a specific repayment schedule from 1 year to 5 years

  • Equated monthly Installment (EMI) comprise of Principal and Interest it is a fixed payment owed each month to repay the loan

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