Get ready before you apply for a loan
A lender decides whether to lend. You decide whether you are ready. This page shows what lenders usually check, what to keep ready, and the questions worth asking before you sign — so you walk in prepared.
Choose your loan type
Personal Home Vehicle Gold Education Loan against property Business MSME Working capital Cash Credit / Overdraft Machinery Commercial vehicle Crop loan
What lenders usually check
- Repayment ability — salary, business income or cash flow, and your existing EMIs.
- Repayment record — your credit report and score, and how existing loans have been paid.
- Documents — identity, address, income and, for business loans, GST and financial statements.
- Security or own contribution — property, gold, a vehicle, or the share you pay yourself.
- Purpose — some loans are tied to a purpose: a house, a vehicle, a course, a crop.
Each lender weighs these differently and adds its own conditions. Nothing on this page is a promise of approval.
Documents most lenders ask for
- Identity and address proof (PAN, Aadhaar, passport, voter ID, driving licence)
- Income proof: salary slips and Form 16, or ITR for the last two or three years
- Bank statements, usually six months
- For business loans: GST returns, financial statements, business registration or MSME registration certificate
- For secured loans: papers for the property, vehicle or gold
Keep the originals safe. Keep clear copies, in order, in one folder. Do not send documents to us through this website.
Words you will meet
- Interest rate — the yearly cost of the loan, as a percentage. Fixed or floating.
- Processing fee — a one-time charge for handling the application.
- Tenure — how many months or years you repay over.
- EMI — the fixed monthly instalment.
- Prepayment / foreclosure — paying off early. Some loans charge for this; ask.
- Collateral — property, gold or another asset the lender can claim if you do not repay.
Ask the lender before you sign
- What is the total cost — interest, processing fee and all other charges?
- Is the rate fixed or floating? If floating, what is it linked to?
- What does prepayment cost?
- What happens if I miss an instalment?
- Can I have the sanction letter and full terms in writing before I sign?
EMI calculator (estimate only)
Estimate your EMI
EMI calculator (estimate only)
Enter the amount, the yearly interest rate and the number of months. The estimate uses the reducing-balance method that most banks use for term loans.
Estimate only. Your lender sets the actual rate, EMI and charges.
Our document-readiness review
If you would like a second pair of eyes: we list the documents usually needed for your loan type, mark what you have and what is missing, and explain the gaps on a call. We do not fill in or submit applications for you; where suitable, our team may refer your enquiry to a lender. There is no fee for this. See what we do.
Running a business? See Business Documentation.
