Personal Loan : Documents

PRE SANCTION DOCUMENTS :-

• Age Proof : Pan Card/ Passport/ Driving License.
• Residence Proof: Electricity bill/ Passport/ Telephone bill/ Mahanagar Gas.
• Income documents for :
1. Self employed -- 3 yrs Income Tax Returns.
2. Salaried -- Form 16 for last 3 yrs & Salary certificate for previous three months.
• Copy of bank statement for previous six months, reflecting salary or the regular business transactions.
• Work Experience :- Minimum two years for salaried as well as self employed.
• 4 Photos.

POST SANCTION DOCUMENTS :-

• Post Dated Cheques (PDCs) or ECS Mandate form or Standing Instruction Request.

Personal Loan : Eligiliblity

• Minimum age of Applicant should be 21 Years.
• The maximum age of applicant be 58 years for salaried applicant and 60 years for self employed.
• The minimum income of self employed the net income after tax should be Rs. 1, 00,000/-.
• The applicant should be in business for a minimum period of three years.
• The applicant should fill the application form and should submit the form along with all the self attested documents and photograph.

Personal Loan : Process

These are following steps taken by banks during process of loan.

• Application form is login.
• Personal Discussion is done by bank officer with customer.
• Bank's Field Investigation (All documents are Verify by bank which given with application form)
• Bank cheques CIBIL report.
• Sanction Letter.
• Signing of agreements and submitting post-dated cheques.
• Disbursement.