5 Documents You Need To Get a Loan


It is no news that accessing loan facilities is becoming increasingly faster. The quick clients profiling and loan disbursement in the industry deserves a lot of praise.

It would not have been possible without striping the bulky documentation that does come with accessing loans in time past. To have a good grasp of what you need to provide for processing your loans, here are a few documents you should make available.

5 Documents Needed To Secure A Loan


Valid Means Of Identity

Clients’ identity confirmation is key to KYC for a loan firm. That said, you will be required to provide any of the federal government’s accepted means of identification. Here are a few for you to get familiar with:

  • National Identity Card: This is perhaps the most used of all the other means of ID here as it is easier to acquire. The relevant parameter is your NIN.
  • Permanent Voters Card
  • National Drivers License
  • International Passport

Statement of Account

Analyzing your income is relevant, and the only way to do that is through your statement of account. Your account statement shows inflows and outflows into your account and gives the firm a good sense of how much you can access and your capability to repay.

The information on your statement of account is used to calculate Debt-To-Income (DTI) ratio. Oftentimes, a 3-6 months statement is the standard, but in certain situations, you might be asked to provide beyond that period.

Firm Means of ID

While accessing personal loans, especially one that’s backed up with your salary as a core means of income, having proof of employment is important.

You need to provide documents that connect you with the company who say you work. It could either be a staff ID card or a letter of employment from your employer. This is to confirm the validity of your employment status and the terms of your employment.

Bank Verification Number

Everyone has a financial footprint in the economy. One of the ways to confirm this is through your BVN. This is a Central Bank of Nigeria mandatory requirement for accessing loans.

With your BVN, your credit report and other vital financial information can be spooled and analyzed. In practice, the point of this is not to intrude on your financial transactions, but to give the firm a solid overview of who you are.

Passport Photo

Now for the easy one – your passport photograph. You need to provide this for adequate profiling and tick the KYC box.


Aside from all of these documents listed above, you will be required to fill out an application form. It’s relevant as it helps you add other important information that is not in these documents. And also serves as required KYC information.

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