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List of Papers or Documents Required for Home Loan

To qualify for a Home Loan from a Bank, the following criteria apply:

1. Minimum Net Income (Rs.) 5, 00,000 p.a (salaried)
7, 50,000 p.a (self-employed)
2. Minimum Age (in years) 21
3. Maximum Age (in years) on maturity of loans 58 (salaried)
60 (public limited/government employees)
65 (self-employed)
4. Minimum Loan Amount (Rs.) 300,000
5. Maximum Loan Amount (Rs.) 10,00,00,000
6. Maximum Tenure (in years) 20 years. For salaried applicants 25 years.

Insurance: You would need to insure your property with an insurance company against loss by fire, earthquake, floods and other damages.

Documents required:

Completed application form with one passport-size photograph.

All documents need to be self-attested.

Proof of Identity (PI) (any one of the following)

  • Passport
  • Election/Voter’s ID
  • Permanent driving license
  • Permanent Account Number (PAN) card
  • Aadhaar Card

Proof of Present Residential Address (PRA) (any one)

  • Passport
  • Election/Voter’s ID
  • Permanent driving licence
  • Society outgoing bill (only from registered societies)
  • Electricity/water/telephone bill
  • Gas bill (pipeline connection only)
  • Property tax bill
  • Domicile certificate with address issued by Municipal Corporation

The above PI and PRA is an indicative list and final documents acceptable are based on a Bank’s policy as applicable at the time of application of the loan. For more details, you can speak to your Relationship Manager (RM) or visit the nearest branch.

Note:
If the address on the document submitted as PI by the prospective customer is the same as that declared by him/her in the Application form, the document may be accepted as a valid proof of both PI and PRA. If the address indicated on the document submitted for PI differs from the address mentioned in the Application Form, a separate proof of PRA should be obtained.

Proof of age (any one)

  • Passport
  • Permanent driving license
  • PAN CardThe above proof of age is an indicative list and final documents acceptable are based on A BANK’s policy as applicable at the time of application of the loan. For more details, you can speak to your Relationship Manager (RM) or visit the nearest branch.

Financial/Income documents required for Resident Indian

All documents need to be self attested
Listed below are the basic documents required, for more details please speak to your Relationship Manager or visit the nearest branch.

Salaried individuals

  • Latest 3 months’ salary slips showing statutory deductions and
  • Bank statements for last 3 months showing last 3 salary credits

Self-employed individuals

  • Acknowledged IT returns for last 2 years (including e-acknowledgement)
  • P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexes and auditor’s report
  • Primary bank account statements for last 6 months
  • For Partners of the partnership firm, additionally Partnership Deed is required
  • For Directors of the Private Limited companies additionally required:
    – Shareholding Pattern or Memorandum and Articles of Association duly attested by a CA
    – List of Directors

Consultant / Self-employed Professional

  • Acknowledged IT returns for last 2 years (including e-acknowledgement)
  • P&L account, balance sheet certified/ audited by a CA and computation of income for last 2 years with all annexes and auditor’s report
  • Primary bank account statements for last 6 months

Financial/Income documents required for Non Resident Indian (NRI)

Salaried

  • Copy of valid Indian passport showing Visa stamps or copy of foreign passport/equivalent documents
  • Copy of valid Visa/work permit/equivalent documents supporting the NRI status of the applicant account holder
  • Latest contract copy evidencing salary/salary certificate/wage slips
  • Overseas bank account statements for last 3 months showing salary credits
  • 3 months NRE/NRO account statements
  • Local bureau report of the country where customer is based

Working in Merchant Navy

  • Latest contract copy. If on ‘home port’ for more than 6 months this year, future contract copy is required
  • Latest Continuous Discharge Certificate (CDC) for 3 years’ employment proof
  • Copy of passport for proof of identity
  • Primary bank account statements for last 3 months
  • Local bureau report of the country where customer is based (applicable if country of residence is other than India)

Self -employed

  • Trade license or equivalent document
  • 6 months overseas bank account statements and NRE/NRO account statements
  • Computation of income, P&L account and balance sheet for last 3 years certified by a CA/CPA or any other relevant authority as the case may be (or equivalent company accounts)
  • Passport copy with valid Visa stamp
  • Brief profile of the applicant and business in the specified format
  • Local bureau report of the country where customer is basedNote: The above stated requirements/documentation is subject to change and is at the sole discretion of Banks granting home loan to you.