Documents Required For Personal Loan.
Personal Loan Documents.
With Hero FinCorp, say goodbye to the cumbersome documentation process. Just submit your basic documents and get instant personal loan approval.
At Hero FinCorp, we help you meet your financial needs quickly and simply. At the time of an emergency, the need for funds is urgent and there is absolutely no time to waste. Knowing this, we have eliminated the cumbersome paperwork process for personal loan applications. At Hero FinCorp, the documents needed for a personal loan are minimal; you need to furnish only a few basic documents such as KYC and income proof to avail of the loan. However, when applying for the loan, remember that the required documents for a personal loan are different for salaried and self-employed individuals. So, make sure you submit the right documents required for a personal loan to get instant approval.
What You'll Need
to Apply.
- •Mandatory Documents: Duly filled loan application form, Passport size coloured photograph
- •Identity Proof: Driver’s Licence/ Passport PAN Card (mandatory)/ Aadhaar card
- •Residence Proof: Driver’s Licence/ Passport/ Aadhaar Card/ Ration Card/ Utility Bill
- •Residence Ownership Proof: Electricity Bills/ Maintenance Bills/ Property Documents
- •Income Proof: Last three months salary slips, Last six months bank account statement (salary account), Form 16
- •Job Continuity Proof: Appointment letter from the current employer, Experience certificate from the previous employer
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FAQs.
To get instant approval, you need to furnish some basic documents for personal loans. These documents include a duly filled application form, KYC, income proof, and passport size photograph, among others. However, you should be aware that the personal loan documents for salaried borrowers and those for self-employed borrowers differ slightly.
The turnaround time depends on the list of documents for the personal loan that were attached for loan processing. If you fill your loan application form correctly and verify the documents to be submitted for a personal loan, the loan will be processed faster, without any hassle.
No, while attaching the documents required for a personal loan, you need to submit photocopies of your relevant documents such as KYC, income proof etc. However, it is recommended that you carry all your original documents to the financial institution's branch so that their representatives can cross-verify the photocopies with the originals. Also, don't forget to carry along your recent coloured passport-size photograph when applying for the loan.
When applying for a personal loan online, you must upload a copy of your KYC documents such as identity proof, proof of address, and proof of income. You can also opt for e-KYC by entering your Aadhaar card number which will instantly retrieve your identification and address information. Upon the successful verification of your documents, the lender will approve your personal loan application.
If you want to apply for a personal loan with less documents then pre-approved loans are ideal for you. Since pre-approved loans are mostly offered to previous or existing customers, the lenders already have your information saved in their database. Therefore, when applying for a pre-approved personal loan, you do not have to deal with the tiresome paperwork.
At Hero FinCorp, we offer flexible repayment terms starting at about 6 months and extending up to 3 years. You can use a Personal Loan EMI calculator to opt for tenure with budget-friendly EMIs. Remember, a shorter tenure increases the EMI amount, while a longer-term reduces it. So make your decision wisely.
If you are looking for an online Personal Loan at Hero FinCorp, you can evaluate your expenses and apply for a loan of up to Rs 3 lakh. Check your Personal Loan eligibility online using our loan eligibility calculator and know the maximum and minimum Personal Loan amount you are eligible to borrow.
If you earn at least Rs 15,000 per month, you are eligible for a Personal Loan at Hero FinCorp. However, there are several other factors based on which we determine your eligibility for a Personal Loan, including your credit history, current financial obligations, nature and length of employment, age, etc.
We have different documentation requirements for salaried and self-employed individuals. Documents required for Personal Loan for a salaried person include salary slips of the last months, bank account statements of the last six months in which salary gets credited, and Form 16. On the other hand, Personal Loan documents required for self-employed include the bank statement for the last six months and ITR for the last two consecutive years. Ensure that these loan documents for Personal Loans are ready before applying to get easy approval according to your funding requirement.
No. You must not submit any paperwork when applying for a Personal Loan. We accept scanned copies of Personal Loan documents uploaded through our website.
A PAN card is an essential document for a Personal Loan application. You can use your Aadhaar card, passport, or driver's licence as identity proof if you don't have one.
