Eligibility Criteria & Documents Required

There are various aspects that come into play when the lender is looking at the personal loan application. As we know that a personal loan generally requires no collateral security and guarantee, the only thing that decides the scale of trust and confidence in the mind of the lender is the loan applicant's documents and credit score as these reflect the repayment capabilities.

To apply for a personal loan in Our Partnered NBFCs, the documents required are quite simple. As far as you have a steady job/income, along with other certain things (which we have pointed down below) you can apply for an Instant Personal Loan in quick time! It's always better to have all the required documents before applying for a personal loan as this would make a good impression in front of the lender which can help in the assessment of your loan application.

Applying for a loan through Nowofloan in Our Partnered NBFCs gives you the luxury to have a completely online loan process with no hassles at all – this includes minimum documentation and a paperless process.

The loan applicant's documents are assessed by the lenders and then depending upon the respective criteria set and followed by the lenders, the proceedings take shape.

The following are the general documents required to apply for a personal loan:

For Salaried:

• Aadhar Card, Voter ID, Driving License, etc.
• PAN Card (Permanent Account Number)
• Residence Proof
• Bank Statement of 3 Months
• Salary Slips/Certificate of 3 Months
• Form 16 (or ITR – Income Tax Returns)

For Self-Employed:

• Aadhar Card, Voter ID, Driving License, etc.
• PAN Card (Permanent Account Number)
• Residence Proof
• Bank Statement of 3 Months
• Balance Sheet of 2 Years
• Profit/Loss Account Statement of 2 Years
• Income Computation of 2 Years
• Service Tax Registration, License, Registration Certificate
• Clearance Certificate/IT Assessment
• Income Tax Returns