When you want to get a quick loan, a personal loan is the best way for it. The process is not lengthy. You won't have to wait for months to get it approved. You need documents such as a pan card, income proof. Upon submitting, you will get the loan within 24 Hours. However it happens many times we need to get personal loan without Documents. Whether you want to take a personal loan by Sbi or any other institution. Every institution will ask for proof. But there are ways via you can get personal without documents. Following are the things you can do to get a personal loan without documents.
What If you do not have income proof ?
There are financial institutions who will provide you with a personal loan without providing income proof. However in order to get it, you need to have a good relationship with the institution. Loyalty is a trait which is highly respected in the financial world.
If you are dealing with the institution for a long time, it is likely, you won’t have to provide documents. Although if you want to get a personal loan from ICICI bank or similar institutions, then you have to submit required documents.
Paying the Dues & having high Credit score
These two features go hand in hand. When you pay your dues in a timely manner, it helps to maintain a high credit score. When you maintain a high score, it becomes easy to get a personal loan without documents. Whether you have a credit card bill or any kind of other payment, pay the dues on time. If you miss any payments, it will reflect as an incapability to pay the loan,thus affecting the credit score.
What if you do not have a Pan Card
In Case, you do not own a Pan card, then it will be difficult to get a personal loan App. Whether you want to get a personal loan from ICICI or Sbi.There's a possibility of getting a personal loan without submitting pan card, But the amount will be very small. You won't get more than Rs50,000. If you have misplaced your Pan card, then provide its number. It will be enough.
Get the Form 16
If you are unable to submit your salary slips or ITR, then get form 16. It will act as proof of income, thus helping you in get a personal loan.
Do you have any Collateral
Personal Loan is an unsecured loan. It means you do not have to submit a collateral. But if you have collateral, then you can present it in front of the banks to get the loan. You will have to negotiate with the bank or any other financial institution.
Do you have a guarantor
When you file the application, asign a guarantor to make your case strong. The guarantor will need to submit the proof of Income. In case you default the loan, the guarantor will have to pay it. Even if you need a personal loan by Sbi, a guarantor can help you to get personal loan without documents.
What are Documents you will need to applying for personal loan
We have talked on how to get a personal loan without documents. Although below we are mentioning what documents you will need. If you are trying to get a personal loan from ICICI Bank or any other financial institution, you will need these documents.
For Salaried
Proof of Identity
Proof of Residence.
Latest 3 months Bank Statement
Salary slips for the last 3 months.
2 Passport Size photographs.
For Self Employed
KYC Documents : Proof of Identity
Proof of Residence
Income proof (audited financials for the last two years).
Latest 6 months Bank statement.
Office address proof.
Proof of residence or office ownership.
Proof of continuity of business.