P
General
Proof of Income
Documentation that verifies how much you earn, required by lenders to conduct affordability assessments under the NCA. For salaried employees this is typically a payslip; for self-employed individuals it may include bank statements, financial statements, or tax returns. Proof of income helps lenders determine the maximum loan amount you can afford.
Usage Examples
"She submitted her latest three payslips and a bank statement as proof of income for her personal loan application."
"Freelancers can use six months of bank statements showing regular deposits as proof of income."
"Without adequate proof of income, a responsible lender cannot approve your loan — this is an NCA requirement, not just a preference."