Kaagaz
Research it
← Ask a different question

Personal loan

A personal loan is unsecured, so the document list is short and almost entirely about proving you can repay. Two banks make the point sharply in opposite directions: Kotak asks for three months of slips AND statements, while ICICI will pull your income proof itself through net banking or an account aggregator and asks for nothing physical. The practical difference between them is not the policy on paper, it is whether you already bank with them.

Cached answer Researched 27 September 2026 2 sources read pre-warmed entry
Documents ready
0 8
0%
0 of 8 collected
Interest rate band 10.99% - 24.00% p.a. (unsecured, so pricing spans the full credit range) Your rate depends on credit score, amount and tenure.
Processing fee Typically 1% - 3% of the loan amount plus taxes. Because the rate looks competitive, always compare the APR rather than the headline rate: a 10.50% loan with a 1.5% processing fee is an 11.16% APR.
Who regulates what. The RBI governs KYC, responsible lending conduct and the disclosure of the total cost of borrowing in the Key Fact Statement. The document list and the fee are the lender's own policy. No state stamp duty arises, because an unsecured loan is not registered.
RBI rules State stamp act Registrar / state Bank policy

8 steps, in the order you do them

Tick as you collect · progress saves in this browser
  1. 01

    PAN card

    Pending
    RBI rules

    Mandatory for the applicant and every co-applicant. Both ICICI and Kotak treat PAN as non-negotiable for a personal loan.

    Where to get it
    Income Tax Department
    Cost
    Free
    Typical time
    1 day
    Source
    Kotak and ICICI personal loan documentation
  2. 02

    Identity and address proof (officially valid document)

    Pending
    RBI rules

    One OVD serves as both: passport, driving licence, Voter ID, NREGA job card, an NPR letter, or voluntary Aadhaar.

    Needs PAN card first

    Where to get it
    As applicable — licence and Voter ID from the state, passport from your embassy
    Cost
    Free
    Typical time
    3 days
    Source
    Kotak personal loan required documents
  3. 03

    Last 3 months' salary slips

    Pending
    Bank policy

    If you have no salary slips, Kotak accepts three months of bank statements showing regular salary credits, supported by your ITR.

    Needs Identity and address proof (officially valid document) first

    Where to get it
    Your employer
    Cost
    Free
    Typical time
    1 day
    Source
    Kotak personal loan, alternative to salary slips
  4. 04

    Last 3 months' bank statement showing salary credit

    Pending
    Bank policy

    The period varies by lender: Kotak asks for three months, ICICI three months for salaried applicants. Some lenders ask six.

    Where to get it
    Your bank — net banking or a branch request
    Cost
    Free
    Typical time
    2 days
    Source
    Kotak and ICICI personal loan documentation
  5. 05

    Two to three passport-size photographs

    Pending
    Bank policy

    Both lenders require them on the application.

    Where to get it
    Any photo studio
    Cost
    ₹100 – ₹300
    Typical time
    1 day
    Source
    Kotak personal loan required documents
  6. 06

    ITR or Form 16 — if you are self-employed

    Pending
    Bank policy

    Salaried applicants at ICICI usually skip this entirely because income is verified from banking records. Self-employed applicants submit two years of returns.

    Needs PAN card first

    Where to get it
    incometax.gov.in
    Cost
    Free
    Typical time
    1 day
    Source
    ICICI personal loan documentation, self-employed
  7. 07

    Employment proof — employee ID or appointment letter

    Pending
    Bank policy

    Not always asked for, but useful when you are changing jobs and have a thin statement history at the new employer.

    Where to get it
    Your employer
    Cost
    Free
    Typical time
    1 day
    Source
    Industry-standard personal loan checklist
  8. 08

    Key Fact Statement acknowledgement

    Pending
    RBI rules

    Mandatory under RBI rules before disbursal. It must itemise the total cost of borrowing, which is where the processing fee stops being invisible.

    Needs Last 3 months' bank statement showing salary credit first

    Where to get it
    From the lender, digitally, before sanction
    Cost
    Free
    Typical time
    1 day
    Source
    RBI Key Fact Statement requirements

What we could not confirm

  • Rate ranges for unsecured lending are wide because the price is set by credit score, and the same borrower can be offered very different rates by different lenders.
  • The effective cost is the APR, not the headline rate — include processing fees, documentation fees and insurance when comparing.

Sources read for this answer

2 of them
  1. Kotak Mahindra Bank — Personal Loan required documents kotak.bank.in
  2. ICICI Bank — Personal Loan documentation icici.bank.in
Show the exact research record
Researched
2026-09-27T14:33:59.223293+00:00
Cache key
personal loan||resident|
Query sent
What documents, in what order, with what approximate costs and how many working days each step takes, are required for Personal loan for a resident Indian applicant (ordinary resident, taxed in India)? Also state the current interest rate range as a band (for example "8.50% - 9.75% p.a.") and the processing fee. Note separately which items come from RBI rules, which from the state stamp act or registrar, and which are the bank's own policy. If a detail is not publicly disclosed, say so explicitly rather than estimating. Cite every source.
Search model
seed-research
Re-researched after
30 days
0 of 8 ready
0%