Most personal loan lenders require documents to prove your identity, income, bank account and address.

Lenders collect information about your credit score, loan purpose and monthly expenses to determine your eligibility and loan terms.

Gathering all necessary documents and information before applying for a personal loan may help you receive your funds faster.

When you apply for a personal loan, lenders request several documents to verify your personal and financial information before making a lending decision. While each lender has unique application and eligibility requirements, most will require similar documentation.

Knowing which documents you need and having them ready before you apply may increase your chances of approval and help you receive your funds more quickly.

All lenders require you to fill out an application form to be approved for a loan. If you’re borrowing from an online lender, the process is done entirely online. If you apply for a personal loan with your local bank or credit union, you may be able to complete the application in person with a bank representative.

The application will likely look slightly different from one lender to another, but will usually ask for information such as:

Your full name

Contact information

Address history

Date of birth

Social Security number

You’ll need to choose a loan amount, answer questions about the purpose of your loan and provide financial details about your monthly income, bills and debt obligations.

Lenders must verify your identity to approve your loan. Two forms of identification are usually required, and acceptable documents may include your:

Birth certificate

Certificate of citizenship

Driver’s license

Military ID

Passport

Social Security card

State-issued ID

The lender needs to be able to read your identification — take a clear picture with your smartphone or use a scanner to avoid delays.

Personal loan lenders rely on your income to determine how much you qualify for. Because you aren’t required to put up collateral to back an unsecured personal loan, you must prove that you have a steady stream of verifiable income to be approved.

If you’re traditionally employed, you can verify your income with a few documents, including:

Pay stubs

Tax returns

W-2s and 1099s

Bank statements

Employer’s contact information

If you’re self-employed, you may need any or all of the following documents:

Bank statements

1099s for the past two years

Tax returns for the past two years

If you work for a regular employer, you may be able to access your pay stubs and tax forms through your payroll provider’s online database. You can also contact your human resources or payroll department for assistance. Self-employed applicants may need to work with a CPA or other tax professional for help gathering the required tax forms.

You must supply proof of your current address and information about how long you’ve lived there. You may not qualify if you’ve moved around a lot or just relocated to a new area — if you’ve recently moved, you may have to provide information about your previous address as well. While some lenders may require specific documentation, you can usually use one of the following:

Utility bill

Lease or rental agreement

Mortgage statement

Proof of insurance on your home or vehicle

Voter registration card

Property tax receipt

Bank or credit card statement

If you need to confirm a change of address, the U.S. Postal Service offers resources to assist you. While the fastest and easiest way to do this is online, you can also visit your local post office and complete the form in person.

Most lenders will deposit your loan funds directly into your account, so you must provide your bank account information. You may also be required to set up an automatic payment through your bank to get the best personal loan rates.

If you apply with your current financial institution, they’ll have your information handy. If you choose to work with a new lender, have the following ready:

Name of bank

Routing number

Checking account number

Your user ID and password to your account (to verify your account through the lender’s secure system)

More about bank account access

Lenders will often request that you link your bank account to a secure system to grant the lender “read-only” access to your account. This means they can see and verify your account, but can’t perform any transactions. This is a standard and safe method of verification

You can opt out of this, but you’ll need to verify your account by accepting small withdrawals and confirming the specific amounts. This option could delay your loan funds for several business days, but may be a good option if you don’t want to give the lender any sort of access to your account.

Once you apply, lenders will consider several factors when approving your loan and determining what rate to offer you.

Credit scores

Monthly expenses

Debt-to-income ratio (DTI)

Loan purpose

Take the time to improve your credit and pay down other debt before you apply. This may help your chance of approval, especially if you have a high DTI or a low credit score.

Gathering the information and documents you’ll need before applying for a personal loan can save you time and avoid potential funding delays. Make sure all your paperwork is legible and provide documents as quickly as possible to speed up the process.

Not all lenders have the same requirements, so ensure you are aware of the general documentation criteria before applying. By being prepared, you can increase your chances of approval and receive your funds more quickly.