General information only; not financial or tax advice. Laws and lender policies change—verify specifics before acting.
Illustrative only—lender criteria vary
Personal loans are unsecured and rely on your income, credit behaviour, and stability. This
checklist helps you prepare a lender-ready application and avoid repeated rejections.
Most lenders look for steady employment or business continuity, verifiable income inflows,
and a credit score that signals reliability. Even if your score is moderate, a strong bank
statement and low existing EMIs can tilt decisions in your favour.
- KYC: PAN/Aadhaar, address proof, recent photo.
- Income proof: last 3–6 months’ salary slips or ITRs/GST returns for self‑employed.
- Bank statements: 6–12 months to verify inflows and EMI discipline.
- Debt-to-income: keep EMIs ≤ 40–50% of net monthly income.
- Avoid multiple simultaneous applications—space them to protect your score.