Documents needed to apply for a Personal Loan

When applying for a personal loan you need to provide certain documents to the loan provider, these documents are needed to proof and check that you meet the desired requirements for a personal loan.

South African Identity Document: ID

The South African Identity Document ID is required to prove that you are a South African citizen and that your identity is truly yours.

Most recent payslip

It is required that when you apply for a personal loan you need to be earning an income and you are employed, loan providers dont give loan to people who are unemployed as they are putting themselves and the loan provider at risk. If you are a contract worker a letter of employment is required.

Three months’ stamped bank statements

A three months’ stamped bank statements is required to see if indeed you are getting money into your account and that you can afford the loan and also to see if what money is left into your account after spending it to all the essentials, this is also a process of determining how much you may qualify for.

Proof of residence. FICA

Proof of residence or FICA, is required so that just in case you fail to repay your personal loan and you disappear when they try to get in touch over the phone and you are no where to be found, the loan provider has the right to send a sheriff to your provided proof of residence for collection.

Please note that the above information is just a general of what is usually being required, some service providers may differ from others so it is wise to contact them directly and find out.

Documents Required

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