Whether or not a bank statement suffices as proof of income on a loan or rental application depends on the situation. This is a less satisfactory method of proof than tax returns or pay stubs, so borrowing a lot of money -- like for a mortgage -- usually requires more robust documentation. Some lenders will accept bank statements, but they’ll be looking at more than the ending balance when making their decisions.

Making a Statement

When bank statements are used as proof of income, the lender is going to be looking for very specific things. It likely will want to see statements dating back several months, perhaps up to two years if you’re basing your income claims on a freelance business. The lender will be looking for a regular flow of deposits, to show that you’re bringing in money on a regular basis rather than relying on a single gift or major payday. Direct deposits or anything that indicate a regular job or dependable source of payment can help make your case.