Aug 10 2008
Requirements relating to secured and unsecured personal loans
What all documents shall be required for obtaining the personal loans. There can be two types of personal loans. One is secured personal loan and another unsecured personal loan. As the name suggest secured personal loan will be backed by some kind of security and unsecured personal loan will not be supported by any kind of security.
However, in both types of personal loans one aspect which is of utmost of importance is the regular income being earned by the applicant. You would be required to furnish the income documents which can support your eligibility and make your case strong.
So make sure that before making an application for personal loan, you mut submit your income proofs along with application. Income proofs are used to calculate your eligibility for assessing the amount of loan and to understand your repayment capacity.