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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 card
  • Aadhar card
  • 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 with 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)

(4)  Documents required for a Vehicle loan

Documents for Non-commercial vehicle loan

Documents for Commercial vehicle loan

  • Copy of your ID proof
  • Copy of your Address proof 
  • Copy of your Income proof (copy of salary slip, Income tax return)
  • Copy of your bank statement or passbook  
  • Copy of your ID proof
  • Copy of your Address proof
  • Copy of your Income Proof (cop[y of Income-tax return, balance sheet, P&L account)
  • Copy of your bank statement or passbook)
  • Copies of contracts or work in hand
  • Ownership proof of existing vehicle/vehicles

Note:- With the change of banks or NBFCs, the list of documents may increase, decrease, or change

Conclusion

A loan is an essential means of finance that can pull you out from any monetary crisis. So, before applying for any loan, take out some time and collect every information about it. It will help you make a proper loan application with all the necessary documents. As a result, you will have a much better chance of getting your loan approved. 

If you are interested in obtaining a loan, then AGIL Finance is an excellent place to obtain it. We are one of the reputed and reliable loan agencies that provide the Best Loan Services in Ahmedabad. Contact us at info1@agil.co.in to avail of our services or to learn more about us.

https://agil.co.in/

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