Not all personal loans require proof of income, such as a tax document or bank statement, but it’s quite common, so it’s important to be prepared to back up the income you claim on your application. Personal loan approval is typically based on your credit score and your ability to repay, which is determined by evaluating your income relative to your existing debts. Although at Upstart, we look beyond your credit score to help you find a personal loan that works best with your finances. Since your credit score and existing debts can be verified without any effort on your part, the most common supporting documentation requested by personal lenders is some sort of income documentation.
