How to get a Loan from an MFI?

Follow these simple steps

Step 1: Pick an MFI based on your needs. All MFI websites can be found on this link

Step 2: Visit the MFIs official website

Step 3: Apply for a loan on the website. Keep required documents ready

Step 4: Wait for loan approval

Step 5: The loan amount will be disbursed

Documents Needed to Apply

Documents Needed to Apply

1. Identity Proof:  (It could be either one of these)

  • PAN Card

 

  • Passport

 

  • Driving Licence

 

  • Aadhaar card

 

  • Form 16 if a PAN card is not available. [Form 16 is a certificate issued by an applicant’s employer which states that Income Tax (TDS) has been deducted from the salary]

 

  • Voter ID card

 

  • Two passport size photos

 

2. Address Proof Include: (It could be either one of these)

  • Recent Electricity bill

 

  • Recent Landline Bill

 

  • Passport photocopy

 

  • Demat Account Bank Statement

 

  • Rent Agreement

 

  • Aadhar Card

 

  • Driving licence

 

3. Income Proof: ITR, Salary Slip, Form 16, etc.

 

4. KYC Documents

Read on to find out things to keep in mind while applying for an MFI loan

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