Documents Required For Personal Loan

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Minimum Salary Required ₹15K

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Personal Loan Documents

With Hero FinCorp, say goodbye to the cumbersome documentation process. Just submit your basic documents and get instant personal loan approval.

At Hero FinCorp, we help you meet your financial needs quickly and simply. At the time of an emergency, the need for funds is urgent and there is absolutely no time to waste. Knowing this, we have eliminated the cumbersome paperwork process for personal loan applications. At Hero FinCorp, the documents needed for a personal loan are minimal; you need to furnish only a few basic documents such as KYC and income proof to avail of the loan. However, when applying for the loan, remember that the required documents for a personal loan are different for salaried and self-employed individuals. So, make sure you submit the right documents required for a personal loan to get instant approval.

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Documents Required for a Personal Loan

Salaried

At Hero FinCorp, the list of documents for a personal loan for salaried individuals includes:

Mandatory Documents

Duly filled loan application form, Passport size coloured photograph

Identity Proof

Driver’s Licence/ Passport PAN Card (mandatory)/ Aadhaar card

Residence Proof

Driver’s Licence/ Passport/ Aadhaar Card/ Ration Card/ Utility Bill

Residence Ownership Proof

Electricity Bills/ Maintenance Bills/ Property Documents

Income Proof

Last three months salary slips, Last six months bank account statement (salary account), Form 16

Job Continuity Proof

Appointment letter from the current employer, Experience certificate from the previous employer

Self-Employed

If you are a non-professional or a professional self-employed individual then the personal loan required documents slightly differ from that for salaried individuals.

Mandatory Documents

Duly filled loan application form, Passport size coloured photograph.

Identity Proof

Driver’s Licence/ Passport PAN Card (mandatory)/ Aadhaar card

Residence Proof

Driver’s Licence/ Passport/ Aadhaar Card/ Ration Card/ Utility Bill

Office Address Proof

Maintenance Bill/ Utility Bill/ Property Documents/ Rent Agreement

Business Existence Proof

Copy of Tax Registration/ Shop Establishment Proof/ Company’s Registration Certificate

Income Proof

Last six months bank statement, ITR for the last two consecutive years

What Our Clients Say About Us

It's a great appreciation for obtaining the best personal loan with the fewest papers necessary and promptly disbursing loan ...funds. I truly appreciate your assistance. Simple procedure and a user-friendly interface. There are no problems, inquiries or anything else as long as you pay.

Savi Gupta

After availing a Two Wheeler Loan from Hero FinCorp, one thing I will definitely admit, that the entire process was easier in comparison to other loan providers. It was fast and smooth. Hero FinCorp turned my dream of owning a Two Wheeler into reality. Thanks to Hero FinCorp.

Sk Immu, Jagathgiri Gutta, Hyderabad, Telengana

Herofincorp has great funds for various purposes. I got the best personal loan offer compared to interest rates, terms, and fees for ...my best financial situation. Thanks for your assistance.

Rashi Kohli

The low interest rate is what caught my attention. I wanted to buy a two-wheeler loan for a long time, with this interest rate I was able to. I’m so glad that I chose Hero FinCorp.

Sumesh V S, Cherai, Ernakulam, Kerala

We took a loan against properties around five months ago, and found that the dealings with Hero FinCorp were very convenient. Their relationship manager handled the entire process from documentation to release of funds in a very smooth and hassle-free manner. The interest rate for Loan Against Property offered to us was very competitive. We strongly recommend Hero FinCorp.

Iqbal Duggal, Ludhiana

Business Owner

Our relationship with HFCL is a year old. We took the loan in view of building a long term relationship with a growing NBFC like HFCL and open the door for MDL Group's future requirements. Professionally speaking our experience with HFCL has been excellent on all fronts. Their Relationship Managers have a good understanding of the client’s needs. I believe, this creates a sense of satisfaction for both the lender and borrower.

Jai Kabra, New Delhi

President, MDL Energy Pvt. Ltd.

It is a simple procedure. For financial emergencies, it is the best option. Thanks for their assistance. Adaptable and well-balanced. You can acquire an immediate loan transfer with Hero FinCorp.

Lalji Soni

I received a call from Hero FinCorp regarding it’s financial services. I was thinking of buying a two wheeler since long. When I compared the benefits Hero FinCorp was offering with other similar service provider’s, I decided, this is the best time to get a bike. The later things just happened within no time and my Two Wheeler Loan was approved. Such a great experience it was.

Chandan Kumar, Khemanichak, Patna, Bihar

After submission of my documents, Mr. Sanjay delivered my Maestro to me within 2 hours only. He was clear about the scheme and told me about every little detail like documents required, EMI, down payments, due dates, bouncing charges etc.

Rahul Maheshwari, Aligarh

Marketing Professional

Processing is quick, and had great experiences with this personal loan application and service. I appreciate customer support's gentle communication in helping the process go more smoothly. interest rates provided on the personal loan is the lowest in market. Overall experience good. I'm grateful.

Raj Chaudhary

I have been looking for a platform that allows me to borrow money quickly, it is convenient, safe and reliable to borrow money on this practical and reliable platform.

Kadam Kailash

Frequently Asked Questions (FAQs)

What are the documents required for personal loans?

To get instant approval, you need to furnish some basic documents for personal loans. These documents include a duly filled application form, KYC, income proof, and passport size photograph, among others. However, you should be aware that the personal loan documents for salaried borrowers and those for self-employed borrowers differ slightly.

What is the turnaround time for personal loan application processing?

The turnaround time depends on the list of documents for the personal loan that were attached for loan processing. If you fill your loan application form correctly and verify the documents to be submitted for a personal loan, the loan will be processed faster, without any hassle.

Do I need to submit my original documents when applying for a personal loan?

No, while attaching the documents required for a personal loan, you need to submit photocopies of your relevant documents such as KYC, income proof etc. However, it is recommended that you carry all your original documents to the financial institution's branch so that their representatives can cross-verify the photocopies with the originals. Also, don't forget to carry along your recent coloured passport-size photograph when applying for the loan.

How is the documentation process different for personal loan applications submitted on the lender’s website?

When applying for a personal loan online, you must upload a copy of your KYC documents such as identity proof, proof of address, and proof of income. You can also opt for e-KYC by entering your Aadhaar card number which will instantly retrieve your identification and address information. Upon the successful verification of your documents, the lender will approve your personal loan application.

Is the documentation process minimal for pre-approved personal loans?

If you want to apply for a personal loan with less documents then pre-approved loans are ideal for you. Since pre-approved loans are mostly offered to previous or existing customers, the lenders already have your information saved in their database. Therefore, when applying for a pre-approved personal loan, you do not have to deal with the tiresome paperwork.

What is the minimum tenure available for a Personal loan?

At Hero FinCorp, we offer flexible repayment terms starting at about 6 months and extending up to 3 years. You can use a Personal Loan EMI calculator to opt for tenure with budget-friendly EMIs. Remember, a shorter tenure increases the EMI amount, while a longer-term reduces it. So make your decision wisely.

What are the minimum and maximum online Personal Loan amounts?

If you are looking for an online Personal Loan at Hero FinCorp, you can evaluate your expenses and apply for a loan of up to Rs 3 lakh. Check your Personal Loan eligibility online using our loan eligibility calculator and know the maximum and minimum Personal Loan amount you are eligible to borrow.

What is the minimum salary required for availing a Personal loan?

If you earn at least Rs 15,000 per month, you are eligible for a Personal Loan at Hero FinCorp. However, there are several other factors based on which we determine your eligibility for a Personal Loan, including your credit history, current financial obligations, nature and length of employment, age, etc.

Which proof of income is acceptable for a loan application?

We have different documentation requirements for salaried and self-employed individuals. Documents required for Personal Loan for a salaried person include salary slips of the last months, bank account statements of the last six months in which salary gets credited, and Form 16. On the other hand, Personal Loan documents required for self-employed include the bank statement for the last six months and ITR for the last two consecutive years. Ensure that these loan documents for Personal Loans are ready before applying to get easy approval according to your funding requirement.

Do I have to submit my original KYC documents when applying for a personal loan?

No. You must not submit any paperwork when applying for a Personal Loan. We accept scanned copies of Personal Loan documents uploaded through our website.

Can I apply for a personal loan without a PAN card?

A PAN card is an essential document for a Personal Loan application. You can use your Aadhaar card, passport, or driver's licence as identity proof if you don't have one.