How to Avail of a Personal Loan without Documents?

January 10, 2022

Life is uncertain and so are financial obligations. However, with the presence of a personal loan, you can easily cope with your unexpected financial needs in one go. Certain factors play a vital role in loan approval and documents are one of them. 

Generally, people think that loan approval requires numerous documents, which will take plenty of time. With the rise of digitisation in the finance sector, the documentation process has become quite easy. In fact, now you can obtain a personal loan without documents. 

Keep scrolling, to get familiar with certain pointers that can help to avail a personal loan without income proof, or we can say with minimal documentation. 

Points to Remember To Obtain a Personal Loan Without Documents

If you want to escape from the daunting loan document process, here are some tips you can follow up. Ideally, you can’t get a loan without documents but the required documents will be minimal if you count on the depicted tips: 

Count on Existing Bank/ Finance Provider

In the finance sector, loyalty goes a long way, especially when it comes to borrowing a loan. If you already have a long-term relationship with a bank, you can avail a personal loan without documents. This is because, in such a scenario, the bank already has your documents and is well known about your credit history. In certain circumstances, banks also provide a personal loan without income proof as the applicant’s profile represents its creditworthiness. 

Nurture a High Credit Score

A personal loan falls in the category of unsecured loans. Thus, the involved risk is comparatively high. To eliminate the risk factor, lenders majorly focus on the credit score of the loan applicant. That is why, it is recommended to keep an eye on your credit score and never default on monthly payments. If you maintain a high credit score together with a good credit history, the lender will find you a credible applicant with negligible chances of missing any EMI. Additionally, there are chances that the bank or finance provider will sanction your personal loan without a salary slip. 

Lender Featuring Minimal Documentation and Instant Approval

Lenders who offer instant personal loan approval barely count on documentation or stick to minimum documents. These lenders aim to provide a personal loan within a day or even hours. The bank with an instant personal loan approval feature usually offers a personal loan without income proof to ensure that the applicant gets the required amount in a minimal time. 

Avail a Pre-Approved Personal Loan

To have a hassle-free experience of minimal or zero documentation, count on pre-approved personal loans. These are pre-approved offers that are available on the basis of your financial profiles. Pre-approved personal loans are sanctioned within minutes. Lenders sanction a pre-approved personal loan without CIBIL and income proof. You don’t have to provide any documents as the lenders already have your financial history based upon which the pre-approved loan amount was determined.  

How to Obtain a Personal Loan without a PAN Card?

Every lender has its own set of guidelines for loan approval. As per these guidelines, it is mandatory for the borrower to provide a PAN card to the lender for availing of a loan, regardless of its type. However, to offer utmost customer satisfaction, banks have decided to provide a personal loan without a PAN card especially when the loan amount is below INR 50,000. Although certain finance providers insist on submitting PAN cards, in such a scenario a PAN number will work. 

Advantages of Personal Loan Without Documents

The emergence of technology together with the digitalisation of the financial processes resulted in colossal changes within financial transactions. The daunting documentation process turned into a quick and paperless procedure. Now, you don’t have to submit an array of documents for personal loan approval. 

Hassle-Free Verification Process

In general, banks and finance providers process personal loans without documents online. Through the online procedure, the verification is conducted in a seamless manner and the loan is sanctioned instantly.


People who are looking for a personal loan without a salary slip or a personal loan without income proof should count on paperless loans. Paperless loans are the least arduous to avail in minimal time. Technology plays a vital role in such loans and makes them more efficient for the loan applicant. 

No Limit on End Use

You can avail a personal loan for an array of purposes, unlike other loans that have a specific end-use. For example, an education loan will be used to pay tuition fees, an automobile loan will be used to purchase a car, or bike and so on. Obtain a personal loan and use it for any purpose without any inquisition from the finance provider.  

No Physical Interaction

Personal loans without documents are sanctioned in minimal time. Hence, you don’t have to visit the bank in person. Through digital platforms, the loan will be approved and disbursed to the applicant’s account. Although you might have to complete the KYC through a video. 

Features of a Personal Loan Without Documents

A personal loan without documents comes with distinct features. Here is what you get when you count on a personal loan to meet your financial obligations:

Risk-free for the borrower

Personal loans are considered risk-free loans for the borrower, as no collateral is required. The absence of collateral makes the process easier for the lender as well as the borrower. Borrowers don’t have to go through the troubling process of providing assets to the lender. At the same time, lenders don’t have to collect and verify numerous documents. 

Instant Loan

The lender processes a personal loan without CIBIL and income proof online, eradicating the in-person loan approval process. Such a process is quick and smooth. The online personal loan gets sanctioned immediately based on the applicant’s creditworthiness. 

Highly Secure

Personal loans without documents are highly secure, as the applicant’s privacy remains protected. You don’t have to submit your property documents as collateral, and the provided information will be viewed only after the final approval. There is no need to make abundant information available to numerous banks and lenders to avail a personal loan. 


While you can easily avail of a personal loan without documents, you might need to submit a few documents for quick processing. So, what you can do is get in touch with the lender and know their requirements beforehand. Pin your hopes on pre-approved personal loans if you want to avail a personal loan without income proof. Just make sure you compare the features and services offered by banks and finance providers to get the best possible deal. 


Can we get a loan without documents?

You can get a loan with minimal documentation when you count on a personal loan. If you avail a loan from an existing bank, then you might not need to submit the documents as they already have your financial history.

Can I get a personal loan if my salary is INR 10000?

Yes, you can get a personal loan, even if your salary is INR 10,000. Although certain other factors such as expenses, other debts will be taken into consideration by the lender.

What is the eligibility for INR 5 lakh personal loan?

Eligibility criteria for an INR 5 lakh loan include a credit score above 750, reliable credit history, monthly income above INR 25,000, and age between 18 and 65 years.


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Category:Personal Loan

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