Most applications slow down for one reason - a document is missing, unreadable or does not match what was filled in the form. Keeping the file ready before you apply saves days.
Everyone needs
- Identity and address proof. Aadhaar, passport, voter ID or driving licence.
- PAN card. This is how the lender pulls your credit report, so the name and number have to match exactly.
- Photograph. A recent passport size photo.
If you are salaried
- Salary slips for the last three months.
- Bank statement for the last six months, of the account where the salary is credited.
- Form 16 or the latest income tax return.
If you are self employed or run a business
- Income tax returns for the last two to three years, with the computation of income.
- Bank statements for the last six to twelve months, of the business account.
- Proof that the business exists - GST registration, Udyam certificate, shop licence or the partnership deed.
- Audited financials, if the lender asks for them.
What the lender is actually reading
The bank statement does the heavy lifting. It shows whether income arrives regularly, how much goes out in existing EMIs, and whether cheques have bounced. Two or three returned payments in six months will hurt an application more than a slightly low salary.
Small things that avoid a rejection
- Give the same address and phone number everywhere. A mismatch between the form and the documents triggers a manual check.
- Send full statements, not screenshots, and make sure every page is clear.
- Disclose loans you already have. They show up on the credit report anyway, and hiding one looks worse than having it.
- If your name is spelled differently on two documents, carry the proof that links them.