Required Documents for Home Loan

Having one’s own home is no more a dream now, with the help of Home Loan this dream can be easily turned into reality without doing much. We understand your emotions for your home as it is the place where you make best of your memories with your family and near and dear one’s. We also understand the value of your time and the difficulty which you face while the documentation regarding your home loan, hence we try to keep it as minimal as it can be. Though it is a very important part, as this is the only way by which we can know our customer in a better way. The documentation process regarding a home loan is bit complicated when compared to personal loan because of its secured nature. Here you need to give a guarantor and security in form of any of your property paper or anything else, so that we can build a trust on you and can lend you without any risk.

Having a home of your own is no more a dream, it is possible at the finger tip of each us. Get a home loan to build your dream home. Here is the list of few banks document requirements and other details mentioned for applying for a home loan.

Checklist of Documents Required for Home Loan

• Identity Proof: Passport/ Driving License/ Voter ID/ Aadhar card/ PAN Card
• Address Proof: Driving License/ Registered Rent Agreement/ Electricity Bill (up to 3 months old)/Passport/Telephone bill/ Voter ID/ Aadhar card
• Employment Appointment Letter: Required if the current employment is less than 1-year- old
• Financial Documents:
  o 3 month salary slip
  o 6 month bank statement
  o 2 year Form 16 or IT return

Calculate EMI for Home loan

List of Common Documents

• Complete Home Loan Application Form with one passport size photograph.
• Photo Identity Proof: Passport/ Driving License/ Voter ID/ Aadhar card/ PAN Card
• Residence Address Proof: Driving License/ Registered Rent Agreement/ Electricity Bill (up to 3 months old)/Passport/Telephone bill/ Voter ID/ Aadhar card
• Residence Ownership Proof: Sale deed or rental agreement
• Income Proof: salary slip, bank statement and Form 16
• Job Continuity Proof: Appointment letter at employment and validation letter from HR
• Bank Statement: Past 6 months’ document
• Property Documents: Sale deed, Katha, transfer of ownership
• Advance Processing Cheque: A cancelled cheque for validation of bank account
• Investment Proof: LIC, mutual funds, property document etc.
• Financial Documents:
  a. For Salaried Individual: 3 month salary slip, Form 16 and bank statement
  b. For Self-Employed Individual: IT returns for last 2 years along with computation of income tax for past 2 years certified by a Chartered accountant
  c. For Self-Employed Non- Professionals: IT returns for last 3 years along with computation of income tax for past 2 years certified by a Chartered accountant

Documents Required for Salaried Individual

• Loan Form: Bank loan application form to be filled with passport size photographs affixed
• Address Proof: Driving License/ Registered Rent Agreement/ Electricity Bill (up to 3 months old)/Passport/Telephone bill/ Voter ID/ Aadhar card
• Identity Proof: Passport/ Driving License/ Voter ID/ Aadhar card/ PAN Card
• Income Proof: 3 month payslips, 2 years Form 16, Copy of Income Tax PAN
• Bank Statement: 6 months bank statement that shows salary from the employer and any EMI paid for outstanding debit.

Documents Required for Self Employed– Professionals

• Identity Proof: Passport/ Driving License/ Voter ID/ Aadhar card/ PAN Card
• Address Proof: Driving License/ Registered Rent Agreement/ Electricity Bill (up to 3 months old)/Passport/Telephone bill/ Voter ID/ Aadhar card
• Office Address Proof: Property Documents, Utility Bill
• Office Ownership Proof: Property Documents, Utility Bill, Maintenance Bill
• Business Existence Proof: 3 years old Saral Copy, the Company Registration license, Shop Establishment Act
• Income Proof: Latest 3 years Income Tax Returns including Computation of Income, Profit & Loss Account, Audit Report, Balance Sheet, etc.,
• Bank Statement: Past 1 year bank statement
• 1 passport size color photograph

Documents Required for Senior Citizens/Pensioners

• 1 passport size color photograph
• Photo Identity Proof: Passport/ Driving License/ Voter ID/ Aadhar card/ PAN Card
• Residence Address Proof: Driving License/ Registered Rent Agreement/ Electricity Bill (up to 3 months old)/Passport/Telephone bill/ Voter ID/ Aadhar card
• Age Proof: Pan Card or Passport
• Income Proof: Pension Returns Or Bank Statement