A loan from a bank: It frequently happens that people need money right away. In such a situation, people ask for money from mutual relations or acquaintances. But sometimes people’s respect comes in the middle or they feel embarrassed to ask for money from those they know. People believe it is appropriate in this circumstance to obtain a loan from the bank. However, after taking a loan from the bank, the bank also gives the loan after a thorough investigation.
Complete documents
Taking a loan from a bank has become very easy. The bank will grant you the loan if both your paperwork and your CIBIL score are good. However, the bank has the right to reject your loan application if there is any sort of document flaw. In addition, the bank will not grant you the loan even if your CIBIL score is low.
Bank cheque
Before approving a loan, the bank investigates the borrower’s income and repayment capacity. Only then the bank decides the loan amount. However, the bank grants the loan only when the applicant submits the required documents to the bank. If any one of these essential documents is found to be lacking then the bank can also refuse the loan and the applicant will not get even a single rupee.
Documents needed for salaried individuals applying for a personal loan: Identification proof (passport, driver’s license, voter ID, or PAN card).
– Proof of residence (leave and license agreement/utility bill (not older than 3 months) / passport)
– The bank account’s most recent three months’ worth of financial information
Salary slip of last 3 months.
-2 passport size photograph.
Documents Required for Car Loan for Salaried People
– Identity Proof (Aadhaar Card / PAN Card / Driving License / Passport / Voter ID)
Residence Proof (Aadhaar Card / Passport / Driving License / Voter ID Card) Letter / Family Card (Ration Card) / Utility Bill (Electricity, Water or Telephone) / Life Insurance Scheme / Applicant’s name should be present in the Ration Card or utility bill)
– proof of age
– Salary slip
– 3 to 6 months bank statement
– Signature Verification Proof
– Proforma Invoice (This document includes the dealer’s price quote for the applicant’s preferred vehicle. The loan amount will be based on the value of the car)