A Guide to Get a Personal Loan without Documents

20^th Jun 2025...

Imagine being drowned in the sea of endless paperwork and documentation. It is what happens in the traditional personal loan application process.

A personal loan without documents lets you borrow money with just a few clicks and taps on your phone.

In this paperless personal loan process, applications are completed in minutes, not hours. Documents are uploaded with a few taps on your phone. Approvals are instant, not in days or weeks. Above all, the money is transferred to your account instantly.

This blog will guides users on the working of paperless personal loans, its benefits, process, and more. Read on to find out more.

How do paperless personal loans work?

A personal loan that does not require physical documents for application but instead requires the borrower to submit details and documents online. These loans are also known as paperless loan or digital loan .

With paperless loans, you can apply and potentially receive funds very quickly. You can upload scanned copies of documents like IDs, proof of income, and bank statements.

Some lenders pre-fill portions of the application based on your online banking information available and accessible.

How are they different from traditional personal loans?

Paperless personal loans	Traditional personal loans
Paperless loans can be applied, processed, and managed entirely online.	Traditional loans require borrowers to fill out lengthy forms in person.
Paperless loans can be disbursed electronically directly to the borrower's bank account.	Traditional loans can be disbursed through cheques as well.
Lenders can process applications quickly with automated systems, resulting in faster disbursals.	Lenders take time to process the application as verification consumes time with various documents.
Paperless loans eliminate the need for physical paperwork or documentation.	Traditional loans require documents in physical form and manually filled application form.

Also Read: Types Of Personal Loans Available In India

Eligibility criteria

The personal loan eligibility criteria for availing a personal loan from Kotak811 are as follows:

Nature of Employment: Employed with an MNC, public limited company, or private limited company.

Age: Individuals aged between 21 years and 60 years are eligible.

Minimum Monthly Income

Kotak Bank Salary Account holder: Minimum net monthly income of Rs. 25,000.

Non-Kotak Bank Salary Account holder: Minimum net monthly income of Rs. 30,000.

Kotak Bank Employees: Minimum net monthly income of Rs. 20,000.

Minimum Educational Qualification: Graduation is a prerequisite.

Work Experience: At least one year of work experience is required.

You can calculate eligibility using Kotak 811’s online personal loan eligibility calculator.

The application process

Paperless personal loans have an easy application process. This section will provide a detailed overview of the personal loan application process.

Check your eligibility

As mentioned above, you must meet the personal loan eligibility criteria to avail of a paperless personal loan. Based on your inputs, Kotak811 can accept or reject your application.

Kotak811 has a personal loan eligibility calculator which can help you check your eligibility and repayment schedule so that you can manage your finances better.

Check the charges and interest rates

You must always check the personal loan fees and charges before applying for one. Refer to the table below to understand the charges and personal loan interest rates we offer.

Personal loan credit facilities	Interest rates & charges
Interest rate	Starting at 10.99% pa
Loan processing charges (non-refundable)	Up to 3% of the loan amount + applicable taxes
Prepayment charges	For loans disbursed on or before 1 February 2020 - part prepayment is not allowed. For loans disbursed after 1 February 2020 (post-completion of 12 months) - part prepayment is allowed up to 20% of principal loan outstanding. (It is allowed only once per financial year) Payment of Rs.500 + taxes to be made for every instance of prepayment.
Repayment mode swap charges	Rs.500 + taxes per instance
EMI bounce charges	Rs.500 + taxes per instance

Gather the documents

While applying for a personal loan with Kotak811 you must gather the documents required. They require minimum documentation unlike the traditional method and get work done.

You must scan the documents and upload them on the application portal. Ensure the scanned documents are clear and correct to avoid any discrepancies.

Calculate the EMI

The most convenient tool offered by banks is online personal loan EMI calculators. Within a few seconds, you can get accurate results and allocate your funds to meet the repayment obligations.

Using the Kotak811 EMI calculator is quick and easy. Enter the loan amount you wish to avail, interest rate, and tenure.

Using an online EMI calculator allows you to calculate the repayment amount, so you can plan a budget.

Also Read: What Is Personal Loan & How It Works?

Fill out the application form

Lastly, fill out the application form. Visit the Kotak 811 App and locate the personal loan section. Select personal loan and click on Apply now. Fill in your personal information, such as name, age, contact number, etc., and click on proceed. You must then upload the scanned documents and click on submit.

Usually, personal loan without documents are processed within one day and are disbursed immediately after approval. 

Pros and cons of personal loan without documents

Before applying and finalising the loan, you must assess the pros and cons of the same. It helps in understanding whether you should opt for the same or not.

Pros

Convenience: Since the personal loan without documents is online, you no longer are required to visit the bank branch. It eliminates the need to fill out applications manually and saves significant time.

Faster processing: As soon as the lender verifies your documents, the loan amount is transferred immediately to your bank account. You can also get a pre-approved personal loan, making the procedure even faster and easier.

Accessibility: Personal loan without documents are accessible to various individuals. You can customise the loan according to your needs and repay the amount timely to have a smooth experience.

Cons

Lack of connection: Online borrowing reduces face-to-face meetings with loan officers, which can be detrimental to borrowers who prefer personal guidance or have complicated financial conditions.

Predatory lenders: The Internet loan market is huge, and not all lenders have borrowers' best interests in mind. Some predatory lenders may take advantage of vulnerable borrowers by proposing high-interest loans or charging hidden costs.

Limited regulation: Online financing is a relatively new concept, and legislation may differ from one state to another. Some online lenders may operate in legal grey areas, making it difficult for borrowers to obtain relief in the event of a disagreement.

Conclusion

For Kotak811 customers, getting a personal loan without documents is super easy and hassle-free. With digital verification and pre-approved offers, you can access funds quickly without the usual paperwork delays. Kotak811 ensures a smooth borrowing experience, combining convenience with reliable support, so you get the money you need, right when you need it. Download the Kotak811 App and apply today.

FAQs

1. Can I get a personal loan without documents?

Yes, many lenders now offer personal loans without physical paperwork, thanks to digital verification. Your KYC, income proof, and credit history can be checked online, making the process quicker and fully paperless.

2. How much personal loan can I get without any documents?

The amount varies depending on your eligibility, income level, and credit score. In most cases, lenders provide pre-approved loan offers where the sanctioned limit is decided based on your existing profile and repayment capacity.

3. Can I get a 2 lakh personal loan without salary slip?

Yes, but it depends on the lender. Some banks and NBFCs may approve small-ticket loans based on alternate proofs like bank statements, Form 16, or existing relationship with the bank. However, interest rates may be higher without a salary slip.

4. Can I get a personal loan without proof of income?

It is difficult, since lenders assess repayment capacity through income proof. In some cases, loans may still be given if you have a good credit score, collateral, or a guarantor. Pre-approved offers are also an option for existing bank customers.

5. How does the personal loan process work?

You apply online or at a branch, submit documents like ID, address proof, and income details. The lender checks your credit score, eligibility, and repayment capacity. Once approved, the loan is sanctioned and disbursed directly to your account.

6. Is ITR mandatory for personal loans?

ITR is not mandatory for salaried applicants if salary slips and bank statements are provided. For self-employed individuals, ITR is usually required to show income stability and repayment capacity.