What documents do I need to get a personal loan?



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Whether you need some extra cash for your wedding, home renovations or a holiday, a personal loan is a great resource when you’re in need of money. 

However, to ensure you are who you say you are and that you can pay the loan back, lenders will always require some documentation before approval. 

Some lenders may have a more intense process of verification, but overall, most lenders will ask for the following documents: 

  1. Personal Identification 

If you are an existing customer with the lender you’ve applied to you shouldn’t need to provide ID. However, if you’re a new customer, expect to be asked for one or more of the following: 

  • Passport
  • Australian driver’s licence
  • Proof of age card
  • Birth certificate
  • Citizenship certificate
  • Pension card or health care card
  • Council rates or utility bill
  • ATO assessment notice
  • Overseas driver’s licence 
  1. Proof of income 

The lender will need to have confidence that you can pay back the loan. You will be asked to provide proof of income in the form of recent payslips. If you’re self-employed you may be asked to provide tax returns/financial statements.  

You may also be asked to provide your current and former employers’ contact details, as well as your annual salary after tax. 

  1. Bank Statements 

Lenders may also ask for recent bank statements to review your savings, your credit card usage and any existing loans (car loan, home loan etc.). This will help the lender to determine whether you qualify for, and can pay back, a new loan. 

  1. Assets and liabilities. 

Adding to the above, you may also be asked to provide details of all your assets and liabilities, including shares, investment properties, life insurance, motor vehicles etc. 

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