The short answer
You need PAN, Aadhaar or another address proof, income proof and recent bank statements. Salaried people usually need 3 months of salary slips; self-employed people need ITRs and business proof.
Checklist
KYC
Address proof (any one)
Income proof: salaried
Income proof: self-employed
How to get approved faster
- Check your credit score first. Most lenders prefer 700 or above.
- Keep your existing EMIs low compared with your income.
- Use the same name spelling and mobile number across PAN, Aadhaar and bank account.
- Apply with the bank where your salary is credited; they often need fewer papers.
- Compare the total cost, including processing fee, not only the interest rate.
Watch out for
- Apps or callers asking for an upfront fee before approval.
- Lenders not registered with the RBI. Check the lender's name on the RBI website.
- Sharing OTPs or full card details with anyone.
Where to get each document
- Salary slips: from your employer's HR or payroll portal.
- Bank statements: download a PDF from net banking. Many lenders can fetch them securely with your consent.
- ITRs: download the return and acknowledgement from the income tax e-filing portal.
- Credit report: free once a year from each credit bureau. Check it for mistakes before applying.
- Business registration: GST certificate from the GST portal, Udyam certificate from the Udyam portal.
Papers to keep after approval
- Sanction letter and loan agreement, with the interest rate and fees.
- Repayment (EMI) schedule.
- Prepayment or foreclosure terms, if you plan to close it early.
- On closing: the no-dues certificate, and a credit report a month later showing the loan as closed.
Questions people ask
Can I get a personal loan without salary slips?
Some lenders accept bank statements and ITRs instead. Self-employed people always use ITRs and business proof.
Is Aadhaar enough as address proof?
For most lenders, yes. Some ask for a recent utility bill if your Aadhaar address is old.
How many months of bank statements are needed?
Usually 3 to 6 months for salaried and 6 to 12 months for self-employed applicants.
What papers should I keep after closing the loan?
Keep the no-dues or loan closure certificate and the final statement. Check your credit report a month later to make sure it shows as closed.
Each lender sets its own list. Check your bank or lender's website, and confirm the lender is regulated by the RBI. Rules change; this page is general information, not legal advice. Kaagaz is not a government service.