What Documentation is Required for a Loan Without Financials?

Since loans without financials do not require income proof documents, the documentation is minimal and mainly focuses on the applicant's profile. Here are the key documents that are generally needed:

• Identity Proof: PAN card and Aadhaar card are mandatory to verify identity. A passport or driver's license may also be used.
• Address Proof: Documents like electricity bill, voter ID, rental agreement, and Aadhaar to validate residence.
• Bank Account Proof: The latest bank account statements for 6 months are used to assess transactions.
• Credit Report: Applicants need to provide a CIBIL report to establish creditworthiness.
• Existing Loan Details: Information on the applicant's current loans, if any, is needed to assess overall debt obligations.
• Employment Details: Even without income slips, basic employment details are captured.
• Business Details: For self-employed individuals, basic business address, activity and vintage details are collected.
• Asset Ownership: Documents on assets owned, such as property, car, and FDs, may be required.
• Photograph: Applicant's photograph is collected for records.
• Digital Signature: Electronic signature on the application form via Aadhaar-based e-Know Your Customer (KYC).
• Application Form: A duly filled application form with the above details is mandatory.

Thus, key identity, address, credit history, and basic employment details, along with the application form, constitute the core documentation for loans without financials.

Please note that this is not a comprehensive list and the requirements for documents can vary from one lender to another.