Personal loan documents checklist for salaried and self-employed applicants

For a personal loan in India you will usually need KYC (PAN and an officially valid document for identity and address, such as Aadhaar used with consent, a passport, voter ID or driving licence), proof of income (recent salary slips and Form 16 if salaried; income tax returns and financial statements if self-employed), and bank statements for the last few months. Many lenders now complete KYC through video KYC or Aadhaar-based e-KYC, and can fetch bank statements with your consent through the Account Aggregator framework instead of PDFs. Before you sign, you should also receive and keep the Key Fact Statement, sanction letter and loan agreement. Exact lists differ by lender and product.

This guide belongs to the personal loan EMI calculation guide.

Documents for salaried applicants

Document	Why the lender asks	Tips
PAN	Mandatory identifier; used to pull your credit report	Name and date of birth should match other documents
Identity and address proof (OVD)	KYC under RBI's KYC directions	Aadhaar is used only with your consent; you can mask the number on a physical copy
Recent salary slips	Monthly income and deductions	Usually the latest few months
Bank statement of the salary account	Confirms salary credits and existing EMIs	Avoid editing or re-saving PDFs; share through the lender's portal or Account Aggregator
Form 16 or ITR	Annual income	Some lenders need it for larger amounts
Employment proof	Stability of employment	Appointment letter or employee ID, if asked
Photograph and signature	Agreement and KYC	Often captured during video KYC

Documents for self-employed applicants

Document	Why
PAN, KYC of the individual	Identity and credit check
ITRs for the last two or three years with computation of income	Income assessment
Audited or self-prepared profit and loss account and balance sheet	Business income and obligations
Bank statements of business and personal accounts	Cash flow and existing EMIs
Proof of business existence (registration, GST certificate, Udyam registration, shop licence)	Business vintage
Office or residence ownership proof, if asked	Stability

Self-employed borrowers using the money mainly for business should consider a business loan instead; see eligibility and FOIR.

Digital applications: what changes

Video KYC and e-KYC. Regulated lenders can complete KYC remotely under the RBI KYC directions. The call should come from the lender's official app or platform, not from a stranger's video-call link.
Account Aggregator. You can approve a time-limited consent in an Account Aggregator app to share specific bank statements with a lender. Check the purpose, period and the data being shared before approving, and revoke consents you no longer need.
App permissions. Under the RBI Digital Lending Directions, 2025, lending apps must not access your files and media, contact list, call logs or telephony functions. One-time access to camera, microphone or location for KYC is allowed with your consent. See loan apps and digital lending rules.
Disbursal. The loan must be paid into your own bank account.

Before you sign: the lender's documents

Document	What to check
Key Fact Statement	APR, all charges, repayment schedule, cooling-off period for digital loans, grievance officer
Sanction letter	Amount, rate, tenure, conditions
Loan agreement	Matches the KFS; prepayment and penal charge clauses
NACH / e-mandate form	Correct account, maximum amount, start and end dates
Insurance proposal, if any	Optional or compulsory? Premium, insurer, sum insured

Read the KFS line by line using the KFS and APR guide, and tick the personal loan offer checklist.

After disbursal: what to keep

KFS, sanction letter and signed loan agreement (ask for a copy; the Fair Practices Code expects lenders to provide one).
Disbursal advice showing the net amount and deductions.
Repayment schedule and EMI dates.
Insurance certificate, if bought.
Grievance officer's contact.
Later, the closure letter or no-dues certificate.

Keep digital copies somewhere safe and share them only through official channels.

Protecting your documents

Never send KYC documents, OTPs or bank login details to someone who contacted you first claiming to offer a loan.
Write the purpose and date on photocopies you hand over, for example "Submitted for a personal loan application" with the lender's name and the date.
Check your credit report after a few weeks; a loan you did not take, opened with misused documents, will show up there. See credit reports and scores.
If your documents are misused, report it on the national cybercrime portal or call 1930, inform the lender in writing, and dispute the entry with the credit information company.

Common document problems

Problem	Fix
Name spelt differently on PAN and Aadhaar	Correct one of them through the issuing authority before applying
Salary paid in cash	Lenders may not count it; a bank-credited salary is easier to verify
Recently changed jobs	Offer letter and last employer's relieving letter
Bank statement shows bounced EMIs	Explain in writing; expect a higher rate or rejection
Address changed	Update KYC with your bank and the lender

Frequently asked questions

Can I get a personal loan with only PAN and Aadhaar?

KYC needs identity and address proof, but lenders also need to assess your income. Pre-approved offers for existing customers may need fewer documents because the lender already holds your data.

Is Aadhaar compulsory?

Lenders may use Aadhaar for KYC with your consent, but other officially valid documents can be used for identity and address.

Are physical documents still accepted?

Yes, at branches. Many lenders prefer digital submission through their own portal.

Why does the lender need my bank statement if I give salary slips?

To verify that the salary is actually credited and to see existing EMIs and bounces.

Sources

Reserve Bank of India — Master Direction on KYC, Digital Lending Directions 2025, Fair Practices Code
Income Tax Department e-filing portal — ITR and Form 26AS downloads
National Cyber Crime Reporting Portal — reporting misuse of documents