However, borrowing has become an easy option to overcome some undesirable situations in life. You can easily borrow a personal loan and get the best benefits out of it. It is flexible and affordable, with the best availability of funds instantly without any collateral. However, any kind of loan is always a burden and needs to be taken care of. Whether you apply for a loan online or through offline mode, you will have to meet the eligibility criteria given by the loan provider. To apply for an instant personal loan, the first essential thing would be documentation. You need to do that with enough clarity and transparency. Without even a single important document, the entire process can get suspended. The requirement of documents is usually the same for all, with little changes between salaried, self-employed, and senior citizens. You must understand the importance of the document and place it on the table when asked for it.

Documentation for the salaried employee
• Proof of Identity: - Passport / Driving License / Voters ID / PAN Card (any one)
• Proof of Residence: - Leave and License Agreement / Utility Bill (not more than 3 months old) / Passport, (anyone).
• Latest 3 Months Bank Statement (where salary/income is credited).
• Salary slips for the last 3 months.
• 2 Passport Size photographs.
• Employment verification certificate like offer letter, experience letter, or the employment
• Investment Proof (if any): Shares, Fixed Deposit, Fixed Assets, etc.,
• Existing loans’ repayment track record and its sanction letter
• Latest 3 months’ Salary Slips and Form 16, bank statements for 6 months

Documentation for self-employed
• Office address (anyone): Property document, maintenance bills, utility bills
• Office Ownership Proof (anyone): Property Documents, Maintenance Bill, Electricity Bill
• Business Existence Proof: Business License
• Income Proof: Latest 2 years Income Tax Returns including Computation of Income, P&L Account, Balance Sheet
• Latest one-year bank statement for both savings and current account


Documentation for senior citizens

• Income Proof: pension deposits or bank statement
• Residence Address Proof: License/ Registered Rent Agreement/ Utility Bill
• 1 Passport size color Photograph
• Age Proof Document: Pan Card or Passport
• Income Proof: Pension Returns or Bank Statement

Application form for the loan
If you are applying for a loan online or through offline mode, you will get an application form. This application form will be very important to start the process of borrowing. It will be a long-form with several pages, asking for every small detail related to you and your loan. This application form needs to be filled up very carefully with all the true knowledge and information. This is the first communication that you would do and the loan provider will gain a complete understanding of your credit and personal profile through this application form. Do not make any mistakes while filling up thepersonal loan form. However this form will not confirm any loan approval, it will be just the details to start the process of approval. Make sure you follow the instructions given by the loan provider for filling up the form.

Why bank statement is important?
Whenever you apply for a loan, you will be asked for a bank statement to prove your personal loan eligibility. This is because you need to give them enough knowledge about yourself. The bank statement gives a complete insight into an individual. To know why a bank statement is important, keep reading.

• The bank statement will confirm your identity. Whenever you open a bank account you always give all the details. A bank always has all the details about the identity of an individual. It straightaway offers all the information about you without any doubt. It gives information about your name, contact, occupation, contact, address, age, and financial background. This becomes very helpful for the loan provider to confirm and validate your identification.
• A bank statement will confirm your financial health. The statement makes it clear about all your cash flow and fund management. It is very easy to figure out the credit condition of an individual from his bank statement. You are supposed to state more than few months so that it is easy to track your credit health for the last few months.
• A bank statement proves if you can afford a new loan. The credit and debit, the income, and the loan deductions can prove if you are eligible for a new loan. The number of funds credited and debited can speak a lot about your eligibility to afford a new loan. If one does not have any funds after paying all the obligations, the bank will never consider him a new instant personal loan.

Wrapping up
Documentation is important to understand personal loan eligibility. One cannot overrule the importance of any document as it is requested by the loan provider to verify and validate. You need to have all the documents in place before you apply for a personal loan.

Clix Capital Services Private Limited
Corporate Address: 901b, 9th Floor, Two Horizon Centre, DLF Phase V, Gurgaon, Haryana, India – 122002
Website: https://www.clix.capital/
P: 1800 200 9898
E: [email protected]