See the documentation required to apply for a personal loan

If you need a little help paying your bills, be sure to check out the documentation required to apply for a loan and how to get one.

When applying for a loan, things can often get a little confusing due to the bureaucracy and documentation required by financial institutions.

But rest assured, we'll help you answer all your questions so you can apply for your loan easily and conveniently.

Basic documents to apply for a personal loan

The documentation required to apply for a loan may vary depending on the institution.

But it's important that you prepare some basic documents beforehand, as this will speed up and facilitate the process of applying for your loan.

Therefore, the basic documents to apply for a loan are:

RG (Identity Card)

The ID card is the most commonly used identification document in any banking transaction, including when applying for a loan.

However, if you have any other document that contains your ID number, the institution may also accept it to analyze your data.

The main documents that can replace the RG are CNH (National Driver's License), passport, or some professional class document, such as OAB or CRM, for example.

But it is important to be careful, as all documents presented must be within the expiration date.

And another important point to note is that the ID card is no longer accepted by banks if it was issued more than 10 years ago.

CPF to apply for a loan

Since one of the requirements for applying for a loan is an analysis of your financial profile with credit protection agencies, your CPF (Individual Taxpayer Registry) is an extremely important document.

Because your payment history is checked using your CPF number.

However, it is not necessary for you to present the physical card if your ID or identity documentation already contains your CPF number.

Proof of income to apply for a loan

Proof of income is required by most financial institutions and banks in order to apply for a loan.

However, if you are already a customer of the bank where you are making the request, it is enough to analyze your banking history.

This way you will be able to obtain the proof of income required to apply for your loan.

But if you are not a customer, the bank will probably require you to present your pay stub or your most recent income tax return.

However, some digital banks do not require proof of income as a document to apply for a loan, only ID and CPF.

Proof of residence

Another document that may also be required to apply for a loan is proof of residence.

The requirement for this document will also depend on which financial institution you are applying for a loan from.  

But even if it's a bank where you already have an account, if there's any change in your details, such as your address, for example, it's best to update your details.

And if your proof of residence is in the name of a third party, you will need to prove through a declaration that you reside at the address.

However, it is important to remember that these are the basic documents required to apply for a loan.

Therefore, depending on the type of loan and the institution, other documents may be requested.

How income affects the documentation required to apply for a loan

The documentation required by banks when you apply for a loan may vary depending on your source of income.

For example, if you are self-employed, a CLT worker, MEI, among others.

So, let's talk a little about the variations in proof of income and how they affect when applying for a loan.

But first, it's important that you understand the need for proof of income required by financial institutions.

Proof of income is a document that presents information about your income (whether fixed or variable) during a given period.

Therefore, it is through this document that you will prove that you have the capacity to meet your financial commitments when applying for a loan.

So, check out the types of proof of income and how it fits into the documentation required to apply for a loan.

Pay stub as proof of income to apply for a loan

A payslip is the same term used for a pay slip, it contains all the details of your gross and net salary.

Companies make the document available in physical or online form and banks usually request proof of the last 3 months.

This document is the ideal proof of income for CLT workers who wish to apply for a loan.

Work permit

Another way to prove your income when applying for a loan is to present your work card, as it serves as proof of employment.

In this case, it is ideal for workers with a formal employment contract who need to apply for a loan, however, this proof does not show the discounts, only the base salary.

Therefore, the bank may request a pay slip along with the wallet.

Bank statement required to apply for a loan

In the case of self-employed professionals, freelancers, and freelancers, a bank statement may be the best alternative as proof of income.

Since they may have some difficulty presenting another type of proof of income since they do not have an employment relationship.

RPA – Autonomous Payment Receipt for a loan

This document can be used to prove the income of self-employed workers, as it formalizes the agreement between an individual or legal entity and an individual for the provision of temporary services.

It is very similar to an invoice with important information and details about payments for services provided.

DIRPF – Individual Income Tax Return

Another document that can be used as proof of income to apply for a loan is the DIRPF, that is, your income tax return.

Because it contains all the information on earnings, assets and assets obtained during the year.

DASN-SIMEI – Annual Declaration of Revenue of the Simples Nacional for MEIs

For individual microentrepreneurs, this is the best document option to apply for a loan as proof of income.

It shows the company's revenue during the year.

Decore – Declaration of Income Receipt

It is a statement accepted by financial institutions and is ideal for self-employed workers, small entrepreneurs and freelance professionals.

This statement consists of rental receipts and income tax returns.

Required documentation for different types of loans

As already mentioned, some documents may vary depending on the financial institution.

However, the required documentation may also vary depending on the personal loan requested.

For example, in secured loans, in addition to the basic documentation required, you will also need to provide collateral, which could be a property or a vehicle, for example.

In this case, you will need to present documents proving that the property or vehicle has been paid off in order to apply for a loan.

The payroll loan is an exclusive loan option for INSS retirees, CLT workers, pensioners and public servants.

In this case, you will need to prove your income through the benefit or salary received.

Among other loan options, you will also see financing, refinancing, revolving credit, among others.

When applying for a loan, pay attention to the necessary documentation, as there may be changes and variations depending on the modality and financial institution.

Tips to make it easier to apply for your loan

Our first tip is to research the institutions, choose the type of loan that's right for you, and check all the fees and conditions.

Then, check whether you meet the criteria requested by the financial institution before applying for a loan.

Finally, confirm all necessary documentation and have it ready when applying for a loan.

Therefore, before anything else, don't forget to clarify your doubts and confirm whether the loan option you want to take out is the best one for you.

This will make the entire process easier and faster when applying for a loan.

What to do if you don't have all the necessary documents

As mentioned above, the documentation required to apply for a loan may change depending on certain factors.

For example, financial requirements, type of personal loan requested, and so on.

However, some of the required documents may be missing, hence the importance of checking everything in advance.

But if you confirm that you really do not have any of the requested documents, such as proof of income, or even an identity document, don't worry.

Ideally, you should contact your chosen financial institution before applying for a loan, inform them of any documents you do not have, and inquire about the available options.

Therefore, if it is a document that can be replaced, such as a work card, a pay slip or even a bank statement.

Or if it cannot be replaced like an identity document, for example, it will be necessary to issue a new one.

But don't forget to contact the financial institution before anything else and confirm the possibilities.

Conclusion

So, now that you know the documentation required to apply for a loan, be sure to evaluate the possibilities and get your bills up to date or make your dream come true!

And also find out the requirements for obtaining a personal loan, read our next post and find out!