Application Guide

How to Apply for Personal Loan

Complete step-by-step guide to apply for personal loan online and offline

8-Step Personal Loan Application Process

1

Check Your Eligibility

Verify basic requirements: age 21-60, income ₹15,000+, CIBIL 650+, employment 2+ years

2

Gather Required Documents

Collect PAN, Aadhar, salary slips, IT returns, bank statements, and address proof

3

Compare Loan Options

Check interest rates, tenure, EMI, processing fees across top lenders

4

Apply Online or Visit Branch

Fill online application form with personal, financial, and employment details

5

Document Submission

Upload scanned copies online or submit physical documents at branch

6

Document Verification

Bank verifies documents with your employer and references (2-5 days)

7

Final Approval

Receive approval notification via SMS, email with loan sanction letter

8

Loan Disbursal

Loan amount credited to your bank account within 24-48 hours

Complete Document Checklist

Identity & Address

PAN Card
Aadhar Card
Passport (optional)
Driving License
Voter ID

Income & Employment

Latest 3 Salary Slips
IT Returns (2 years)
Employer Certificate
Form 16 (2 years)
Employment Letter

Financial Documents

Bank Statements (6-12 months)
Loan Statement (if any)
Investment Proof
Insurance Policy

Self-Employed Specific

Business Registration
GST Certificate
Profit & Loss (2 years)
Balance Sheet (2 years)

Personal Loan Processing Timeline

Day 1-2

Application & Document Submission

Online filing

Day 2-5

Document Verification

Bank checks documents

Day 5-7

Credit Check & Final Approval

CIBIL check & approval

Day 7-10

Sanction Letter & Disbursement

Amount credited to account

Pro Tips for Quick Personal Loan Approval

Ensure CIBIL score above 750 for best rates and instant approval
Prepare all documents in advance to avoid delays
Apply online during business hours for faster processing
Keep bank statements showing consistent income deposits
Avoid applying to multiple lenders simultaneously (affects CIBIL)
Be honest with income details to avoid rejection
Check if employer is pre-approved with the lender
Compare EMI calculator results before finalizing

Ready to Apply for Personal Loan?

Compare rates from top lenders and apply instantly