Documents Required for Personal Loan

Personal Loan Required Documents

Get quick access to loans of up to ₹ 15 Lakh at 11%* p.a. for a repayment period of up to 60 monhs. You can use this fund for medical emergencies, home renovations, travel, or even debt consolidation. We simplify your Personal Loan application process with minimal documentation. Planning to apply for a loan? Here are the details of the documents required for applying for a Personal Loan with us.

List of Documents Required for Personal Loan

Documents required*	ID Proof	Address Proof
Passport	y	y
Pan Card	y
Driver's License	y	y
Voter's ID	y	y
Aadhaar Card	y	y
Utility Bill		y
Driving Licence	y	y
Job Card Issued by NREGA duly signed by an officer of the State Government		y
Letter issued by the National Population Register containing details of name and address.		y

* Additional documents may be asked

Self-Employed Individuals

1. Proof of Identity and residence: Passport / Driving Licence / Voter ID / Job card issued by NREGA / Letter from National Population Register / Proof of possession of complete Aadhaar number (Any one)

2. Income proof (audited financials for the last two years)

3. Latest 6 Months Bank Statement

4. Office address proof

5. Proof of residence or office ownership

6. Proof of continuity of business

Personal Loan Documents by Employment Type

1. Salaried Individuals

2. Proof of Identity and residence: Passport / Driving Licence / Voter ID / Job card issued by NREGA / Letter from National Population Register / Proof of possession of complete Aadhaar number (Any One)

3. Latest 3 months Bank Statement (where salary/income is credited)

4. Salary slips for the last 1 month

5. Passport Size photographs

FAQs & Support

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How do you get the lowest Interest Rate on a Personal Loan?

To secure the lowest Personal Loan interest rate in India, maintain a high credit score, compare lender offers, and choose shorter loan tenures.

What is the current interest rate for a Personal Loan?

At L&T Finance, current Personal Loan interest rates start from 11%* per annum, depending on your creditworthiness and lender.

What are the documents required for a Personal Loan?

To meet the Personal Loan requirements, applicants must provide a Personal Loan documents list with valid ID proof (Aadhaar, Passport, Voter ID), address proof, PAN card, and recent bank statements. Salary slips are essential for salaried individuals, while self-employed applicants need proof of income. These documents required to get Personal Loan vary slightly based on employment type.

Are there any tax benefits associated with Personal Loans?

Generally, there are no tax benefits associated with Personal Loan repayments. However, you may be eligible for certain tax deductions if the loan is used for home renovation or business purposes.

What is a Personal Loan EMI?

A Personal Loan EMI is the monthly instalment you pay to repay your loan. It includes both principal and interest components, facilitating systematic repayment.

What are the benefits of using a Personal Loan eligibility calculator?

A personal eligibility calculator provides instant results, simplifies the check loan amount eligibility process, and aids in better financial planning without affecting your credit score.

How is the Personal Loan EMI to be paid?

EMIs are deducted automatically from your Bank account through an ACH mandate, ensuring timely payments without manual intervention.

When does the floating interest rate change?

Floating interest rates change periodically, often influenced by changes in the repo rate or other economic factors, impacting the monthly repayment amount.

What is the maximum Personal Loan that I can get?

The maximum amount for a Personal Loan you can get with L&T Finance is up to ₹30 lakhs.

Is Aadhaar mandatory for Personal Loans?

While Aadhaar is a commonly accepted form of ID in the Personal Loan documents list, it's not the only option. Applicants can use a passport, Voter ID, or driving license as alternatives for their Personal Loan requirements.

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