Can I Get A Personal Loan Without Documents?

Lenders ask for documents to determine if a person can pay back the personal loan. Get to know how to get a personal loan without documents at IIFL finance.

10 Oct,2022 09:47 IST 381
Can I Get A Personal Loan Without Documents?

A personal loan is essentially unsecured debt that can help one tide over a difficult situation such as a medical emergency or meet an expense that would not be possible otherwise such as an international vacation.

In fact, since a borrower does not have to provide any collateral, personal loans have gained popularity as one of the best ways to borrow money for a wide variety of purposes.

On top of this, a personal loan is really easy to apply for and can be availed within a matter of hours, provided the lender is satisfied that the borrower can repay the principal and the interest in time and in full.

Typically, lenders look at a borrower’s credit history, income statements and their CIBIL score, to gauge their overall financial profile. And so, lenders usually will ask for certain documents to determine if a person can pay back the loan or if he or she is a potential risk and could delay payments or even default.

Most good lenders these days let borrowers apply for a personal loan via their websites or mobile apps. Many lenders also require the borrowers to upload all the required documents on their websites, while some lenders send their executives to collect documents from the borrowers physically.

These documents can include the PAN or Aadhaar card, salary slips or business income proof of the past six to 12 months, bank account statements, and so on.

But can a borrower obtain a personal loan without any documentation? In theory, yes, it is possible to avail a personal loan without documentation.

Here are some of the ways in which a borrower can ensure they don’t need documentation while applying for a personal loan:
Zaroorat aapki. Personal Loan Humara
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Debt-To-Income Ratio:

If a borrower can ensure that their debt-to-income ratio remains below the 50% mark, it becomes very easy for them to avail unsecured credit like a personal loan. A low debt-to-income ratio means that the person has a high disposable income and can, therefore, afford to take on more debt and repay it without much stress or hassle. Such borrowers are considered low-risk by most banks and non-banking finance companies.

High CIBIL Score:

A CIBIL score of 750 or higher indicates that the borrower has had a nearly flawless credit history and that they have good income flow that will allow them to repay the loan on time.

A Good Borrower-Lender Relationship:

Having a long-term relationship with the lender helps. In fact, good lenders value their long-term clients and offer them several value-added services for free.


To avail an unsecured loan like a personal loan, it’s important for the borrowers to convey to the lenders that they have been financially disciplined and are, therefore, creditworthy.

Borrowers can do so by ensuring that they make timely repayments on both the principal and interest amounts of all outstanding loans, including credit cards. Any late repayment or a default will indicate to a lender that the borrower may be a potential risk and that money should ideally not be lent to such a person.

While many lenders require only a few basic documents to approve a personal loan, it is not impossible to get a loan without any documentation, provided you have a flawless credit history, a high CIBIL score and a reasonably low debt-to-income ratio.

Many reputed lenders like IIFL Finance even allow you to apply online for a personal loan to make the experience seamless and hassle-free. You can even repay the principal and interest online just as easily and from anywhere.
Zaroorat aapki. Personal Loan Humara
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Disclaimer: The information contained in this post is for general information purposes only. IIFL Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness or of the results etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Given the changing nature of laws, rules and regulations, there may be delays, omissions or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Gold/ Personal/ Business) loan product specifications and information that maybe stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Gold/ Personal/ Business) loan.

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