Documents required for Credit Card approval
The demand for credit card has touched an all-time high. Many banks are offering credit cards with lots of unique features and benefits across a variety of categories spanning lifestyles, travel, shopping, fuel, dining, and entertainment. For availing a credit card, you need to submit a set of documents which the banks will use for verification purposes.
Key Takeaways ✦
The list of documents may however vary from bank to bank. In this post, we have covered the common documents that are required for credit card approval from most banks. Please note though most documents may be scanned and submitted online, some institutions may prefer a physical copy of the documents for verification.
Documents for Salaried Individuals
ID Proof – PAN Card, Aadhar Card, Passport, Voter’s ID, Driving License, Ration Card or any other photo proofs with Gazetted Officer’s signature
Proof of Address – Passport, Aadhar, Voter’s ID, Ration Card, Driving License, Lease/Rent Agreement, and Utility Bills
Income Proof – Salary Slip (Last 3 months), Bank Statements, Form 16, ITR Returns
Documents for Self-employed Individuals
ID Proof – PAN Card, Aadhar Card, Passport, Voter’s ID, Driving License, Ration Card or any other photo proofs with Gazetted Officer’s signature
Proof of Address – Passport, Aadhar, Voter’s ID, Ration Card, Driving License, Lease/Rent Agreement, and Utility Bills
Income Proof – Proof of Business Continuity, Form 16, ITR, Bank Statement for last 6 months
Documents required for Students
ID Proof – PAN Card, Aadhar Card, Passport, Voter’s ID, Driving License, Ration Card
Proof of Address – Passport, Aadhar, Voter’s ID, Ration Card, Driving License, Lease/Rent Agreement, and Utility Bills
Age proof – Birth Certificate, 10th standard school certificate, Voter ID Card, Passport
Proof of Enrollment – College ID Card, Study Certificate from University, Admission Slip
Documents required for NRIs
Proof of Identity – Passport, License
Proof of Address – Passport, Voter’s ID, Driving LIcense, Ulility Bills, Bank account statement
Proof of Income – Passport, Driving License, Utility Bills, Overseas Bank Statement, Government issued ID Card, Company ID Card, Company Appointment Letter
Conclusion
These are some of the common documents required for approval of credit cards by majority of banks. However, certain banks may ask for additional documents based on their policies