Documents required for Bank Loan while applying for a loan

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Documents required for Bank Loan while applying for a loan

Finance is an essential means for the smooth functioning of our life. It is needed for a variety of reasons to fulfill our needs with the savings we do.

Introduction

Finance is an essential means for the smooth functioning of our life. It is needed for a variety of reasons to fulfill our needs with the savings we do. However, sometimes our income and savings are insufficient to fulfill some of our monetary needs. At that time taking external financial support like a bank loan is the best course of action. To overcome your monetary needs, get the best loan services from the loan agency in ahmedabad.

Nowadays, banks and NBFCs offer various types of loans through a very easy application process. Your only concern should be to ensure that all the necessary documents are submitted with your loan application. A loan application procedure is incomplete without successful document verification. Documents play a key role in your loan approval so always be cautious in their submission. Although, documentation requirements change with the types of loans. So through this blog, we are sharing the list of documents required for applying for a bank loan.

List of documents you need to submit with your loan application to obtain a bank loan

(1) Documents needed for a loan against property

Documents	For Salaried Individuals	For Self-Employed Individuals
Proof of Residence	Passport Ration card Voters card Utility bill Driving license	Passport Ration card Voters card Utility bill Driving license
Proof of Identity	Passport Voters card PAN card Aadhar card Driving license	Passport Voters card PAN cardard Driving license
Proof of Income	Salary slips for last 3 months & Form 16 Bank statement for last 6 months/Passbook copy	Income tax returns for last 2 years along Aadhar cwith Computation of Income Audit report Balance sheet Profit & Loss account statement
Proof of Ownership of Property	Property documents Electricity bill Maintenance bill	Property documents Electricity bill Maintenance bill
Proof of Investment	Fixed assets documents Share certificates Fixed deposit, etc.	Fixed assets documents Share certificates Fixed deposit, etc.
Passport size photo	One/two color photo	One/two color photo

(2) Documents required to obtain a Personal loan

Types of Documents	List of Documents
Proof of Identity	Copy of passport Voter ID card Aadhar Card PAN card
Proof of Address	Copy of passport Ration card Utility Bills Driving License
Proof of Income	Bank statement copy of last 3 months Passbook copy of last 6 months Latest salary slip or Latest salary certificate with the Form 16

(3) Documents needed for Business loan

Types of Documents	List of Documents
Proof of Identity	Passport Voters card PAN card Aadhar card Driving license
Proof of Address	Passport Ration card Voters card Utility bill Driving license
Proof of Income	Bank statement of last 6 months Latest Income Tax Return as well as Computation of Income Balance sheet and profit & loss account of previous 2 years Audit reports
Other Mandatory Documents	Certified copy of Sole proprietary declaration or Partnership Deed Certified true copy of both Memorandum & Articles of Association Board Resolution(original copy)