We, at Fullerton India, are committed to making your borrowing journey as smooth as possible. Our personal loan requirements are minimal and concise. To apply for a personal loan, all you need are a few documents. There’s no heavy paperwork involved. Please note that the personal loan documents for salaried and self-employed individuals differ from each other. We will take you through both these requirements. Basically, the documents required for personal loan include KYC proof, income proof, business details, and a few more. We request you to submit accurate details and papers so that we can process your loan application in the shortest possible time.

Documents to Apply for a Personal Loan

When applying for a personal loan, you will need to submit the following documents:

  1. PAN Card
  2. Identity proof (Passport, PAN card, driving license, voter ID)
  3. Signature Proof (Passport, PAN card, etc.)
  4. Address proof (Passport, utility bill – gas or electricity bill, voter ID, driving license, ration card, rental agreement, bank statement)
  5. 6 months bank statements

As a salaried individual, you additionally need to submit the following:

  1. Salary slips for the last three months
  2. Income tax returns OR form 16

As a self-employed individual, you additionally need to submit the following (for self / business entity as applicable): 

  1. Balance sheet and profit and loss account, income computation for the last 2 years
  2. Income Tax Returns for the last 2 years
  3. Business proof (License, registration certificate, service tax registration) 
  4. IT Assessment OR Clearance Certificate
  5. Income Tax Challans OR TDS Certificate (Form 16A) OR Form 26 AS for income declared in ITR

Please note that depending on your individual profile and Fullerton India’s policy at the time of loan application, additional documents may be requested.

12 Months
36 Months
60 Months

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Is Salary Slip Mandatory for Personal Loan?

Yes, salary slips are one of the mandatory documents when you are applying for a personal loan with us as a salaried individual. You can support these documents with bank statements reflecting the monthly credit. The regularity of the monthly salary showing the same amount will also support the case. Please note that cash salary applicants may not be accepted for online personal loans.

Can I Get a Personal Loan If My Salary is INR 20,000?

Yes, the minimum monthly salary should be at least INR 20,000 to avail a personal loan. However, do note that a minimum salary of INR 25,000 per month is required for residents of Mumbai/ Delhi. Personal loan is given based on your monthly income. However, there are other factors too that are evaluated over and above your monthly salary. They include your credit score, repayment capacity, work experience, current EMIs, etc. You can get an estimate of the maximum personal loan you can get using our personal loan eligibility calculator.

What are the Requirements to Take a Personal Loan?

For you to be eligible for our personal loan, you need to meet specific requirements. You need to be a resident of India between the age of 21 years to 60 years. You need to have a total minimum work experience of at least 1 year, and 6 months in the current company. As a salaried employee, you need to be earning INR 25,000 per month if you are based in Mumbai/ Delhi or INR 20,000 per month in the rest of India. If you are self-employed, you need to have a minimum yearly profit after tax that is determined based on your industry as per the current policy. You also need a minimum CIBIL score of 750.

* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.

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