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

PassportRation cardVoters cardUtility billDriving licensePassportRation cardVoters cardUtility billDriving license

Proof of Identity

PassportVoters cardPAN cardAadhar cardDriving licensePassportVoters cardPAN cardAadhar cardDriving license

Proof of Income

Salary slips for last 3 months & Form 16Bank statement for last 6 months/Passbook copyIncome tax returns for last 2 years along with Computation of IncomeAudit reportBalance sheetProfit & Loss account statement

Proof of Ownership of Property

Property documentsElectricity billMaintenance billProperty documentsElectricity billMaintenance bill

Proof of Investment

Fixed assets documentsShare certificatesFixed deposit, etc.Fixed assets documentsShare certificatesFixed deposit, etc.

Passport size photo

One/two color photoOne/two color photo

(2)  Documents required to obtain a Personal loan

Types of Documents

List of Documents

Proof of Identity

Copy of passportVoter ID cardAadhar CardPAN card

Proof of Address

Copy of passportRation card Utility BillsDriving License 

Proof of Income

Bank statement copy of last 3 monthsPassbook copy of last 6 monthsLatest 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

PassportVoters cardPAN cardAadhar cardDriving license

Proof of Address

PassportRation cardVoters cardUtility billDriving license

Proof of Income

Bank statement of last 6 monthsLatest Income Tax Return as well as  Computation of IncomeBalance sheet and profit & loss account of previous 2 yearsAudit reports

Other Mandatory Documents

Certified copy of Sole proprietary declaration or Partnership DeedCertified true copy of both Memorandum & Articles of AssociationBoard 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 proofCopy 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 proofCopy of your Address proofCopy 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 handOwnership 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.