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  • Documents Required For Home Loan

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  • Sooner or later everyone needs a place of their own, and the best way to achieve that goal for a person from a mid-income household in India is to get a home loan. Government of India has schemes in place to assist house buying/building for the citizens. Nowadays, home loans are easy to come by. But only if all your documents in order.

    To secure a home loan, an applicant must submit a number of documents that establish their KYC, the antecedents of the property they wish to purchase, their income background etc. depending on which category of customers (salaried/professional/businessman/NRI) they belong to.

    The documents required vary from bank to bank. Below are some lists of document which are most commonly required to apply for a home loan in India.

    List of Property Documents Required For Applying Home Loan By All Applicants

    • Loan application form.
    • 3 photographs passport sized.
    • Identify proof (acceptable documents listed below).
    • Residence proof (acceptable documents listed below).
    • Bank Account Statement/Pass Book for last 6 months.
    • Signature verification by bankers of the applicant.
    • Liabilities statement and Personal Assets.
    Apply for Home Loan Online

    Documents For Guarantor (Wherever Applicable)

    • Liabilities Statement and Personal Assets.
    • 2 photographs passport sized.
    • Identify proof.
    • Residence proof.
    • Proof of business address.
    • Signature identification from present bankers.

    List of Documents for Salaried Individuals

    • Salary Certificate (original) from employer.
    • Form 16/IT Returns for the past 2 financial years.

    List of Documents Required for Self – Employed Professionals

    • IT Returns/Assessment Orders copies of the last 3 years.
    • Challans as proof of Advance Income Tax payment.
    • Proof of business address for non-salaried individuals.

    List of Documents Required for Self – Employed Businessmen

    • IT returns/Assessment Orders copies of the last 3 years.
    • Challans as proof of Advance Income Tax payment.

    List of Property Documents:

    • Deed of Sale or Sale Agreement or Share Certificate (original) in case of a cooperative society.
    • Receipts for taxes paid for Building and Land, certificate of possession, and certified sketch of the location of property from revenue authorities.
    • Allotment Letter from Society/Housing Board/Private builder.
    • Receipts of advance payments for flat purchase.
    • Certificate of Non encumbrance encompassing the last 12 years/30 years.
    • Receipt of land tax payment and certificate of possession issued by revenue authorities.
    • Permission letter from Appropriate Authority.
    • Approved building plan (showing floor plan for flat purchase).
    • Original No Objection Certificate issued under the ULC Act, 1976.
    • Copy of relative order if agricultural land is being converted.
    • No objection certificate (NOC) from Builder/Housing Society.
    • Detailed estimate of construction cost.
    • Letter from Society/Builder/Housing Board mentioning their bank and account details, for installment remittance.
    • Applicable for purchase of land plot, a declaration by loan borrower stipulating the date by which to construct a house.
    • Report from lawyer as per standard format.
    • Report stating the valuation of property in standard format by an empanelled valuer.
    • Post closure of loan, documents required for handover of original Property documents
    • Power Of Attorney for collecting original documents of Property.
    • In event of demise of the loan borrower:
    • Letter requesting handing over of Property documents from Legal Heir/Nominee(s).
    • Letter relinquishing the right to Legal Heirs/Nominees for Property documents handover.

    List of Home Loan Documents Required for Non Resident Indians (NRIs)

    • Document establishing KYC.
    • Salary Certificate from employer stating in English the name (as per passport), designation, passport number, date of joining, latest salary.
    • Last 3 to 6 months’ salary slips reflecting variable components like incentives, overtime, etc.
    • Latest IT Returns (for applicants filing IT returns in the country).
    • For Self Employed NRIs, business documents like Trade License, Sponsor Agreement, Power of Attorney, etc.
    • Copy of Passport showing the page of residence visa.
    • Proof of employment by the Government of the residing country like work permit, labour contract, etc.
    • Documents related to the Property with cost estimates from an Indian Architect or Engineer.
    • For Salaried NRIs, income documents attested by embassy official required if there’s no documented evidence for salary credit or fund remittance to India is available.
    • Bank statements copies from overseas of the past 6 months.
    • Last 6 months’ NRO/NRE bank statement.
    • If applicant is unavailable in the country at the time of signing documents, Power of Attorney needs to be produced by the person acting on their behalf.

    List of Documents Needed for KYC Compliance

    Some of the usual documents admitted as KYC are mentioned below:

    Photo Id Proof (Any One Required):

    • Passport
    • PAN Card
    • Driving License
    • Voters ID Card

    Residence Proof (Any One Required):

    • Electricity Bill
    • Ration Card
    • Telephone Bill
    • Employment Letter
    • Passbook or Bank Statement with address

    Proof of Age:

    • PAN card
    • Passport
    • Birth certificate
    • Driving license
    • Bank passbook
    • Marksheet from 10th class

    Besides the ones mentioned above, the banks have the right to ask for any document they deem necessary to the loan sanctioning and verification process.

      

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    Home Loan Reviews

    • SBI Home Loan
      "Easy and best loan"
      0.5 5.0/5 "Blown Away!"
      SBI is a best bank and they had a better option. There is only simple documentation required and executive came to my place for collecting all the documents. I got the loan within 7 days. SBI did not taken any processing charges and they gave better and cheap interest. They take minimal time and better response from the customer care so i had chosen SBI for my home loan.
      Was this review helpful? 1
      , agra
      Reviewed on Oct 11, 2019
    • Central Bank of India
      Central Bank of India Home Loan
      "Easily accessible bank"
      0.5 4.0/5 "Great!"
      I have just applied the home loan from Central bank of India. I had a reference over there hence i applied the home loan from Central Bank of India. Documentation process was hassle free. They have offered me a interest rate of 10.1% and the processing fee was 1% of the interest amount +18% GST charges. They have dispatched the loan 20 days. The staffs are so friendly
      Was this review helpful? 2
      , bangalore
      Reviewed on Oct 01, 2019
    • LIC Housing Home Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      I have availed Home loan directly through LIC Housing Finance .I have got the loan on stipulated time and got all the details about the loan process through the agent and it was sufficient as well .I have submitted the required documents also.This loan is still active and no drawbacks faced so far.
      Was this review helpful? 1
      , thiruvananthapuram
      Reviewed on Sep 21, 2019
    • Punjab National Bank Home Loan
      "Normal loan service"
      0.5 4.0/5 "Great!"
      There is no much documents required in PNB Housing finance thats the reason i opted the home loan from them. I bought the loan amount of Rs. 7 lakhs and they took 1 month to provide this loan. Interest rates are on the higher part after 1 year. I have been paying the EMI amount of Rs. 7200 for the tenure period of 15 years but i have requested them for 20 years.
      Was this review helpful? 4
      , coimbatore
      Reviewed on Sep 16, 2019
    • Indiabulls Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      My housing loan is ongoing with Indiabulls. The rate of interest was 9.2% where SBI is charging 8.4% which is higher and they should reduce it. The customer service is good. I have taken the loan because my friends are working here and the documentation process was very much convenient for me.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 16, 2019
    • HDFC Limited Home Loan
      "Good & Best"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with HDFC BANK because the branch is very near to my place and the responsiveness was good. The rate of interest is okay and they have charged me a processing fee. The loan tenure is 240 months and its ongoing. The documents are submitted to the executive.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 16, 2019
    • HDFC Limited Home Loan
      "Wonderful Experience"
      0.5 5.0/5 "Blown Away!"
      My home loan process was hassle free, I took Rs. 30 lakhs for the duration of 30 years. I submitted general documents like KYC, property documents, form 16 within a weeks time the amount credited in my account. At the time Hdfc branch manager was my friend they took care of everything.
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 12, 2019
    • IndusInd Bank Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I have applied for one more credit card with HDFC BANK so have told Indusind Bank to cancel the card because I was comfortable with the benefits of HDFC card. There is no clarity on the documentation part. They did not disclose the interest rate.
      Was this review helpful? 0
      , kolkata
      Reviewed on Sep 09, 2019
    • HDFC Limited Home Loan
      "People friendly loan"
      0.5 3.0/5 "Satisfactory"
      HDFC Home loan service is not that much good. Comparing to Government sector, interest rates are in a higher part. At the time of process, HDFC people helped me a lot and they came to my place and they have collected all my documents hence i don't need to bother about the process. Whenever I'm sending mails, they are giving reply immediately.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 07, 2019
    • HDFC Limited Home Loan
      "Interest rate should be affordable"
      0.5 4.0/5 "Great!"
      The loan process was easier for getting home loan from HDFC Limited, within expected time they sanctioned the amount. I submitted the KYC documents, property papers to them I took the loan around Rs. 35 lakhs with 10 years of loan period. They gave higher interest rate its far when compared to market.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 06, 2019
    • HDFC Limited Home Loan
      "Good to go with HDFC Limited"
      0.5 4.5/5 "Excellent!"
      From HDFC limited I took the home loan, the documentation was simpler with required documents. More over they supported well to get it on time. The follow up was prompt, the field executive gave me door step service multiple times. Only one or two time I went to the bank. I took the loan amount Rs. 17 lakhs for the duration of 15 years. They taken processing fee around Rs. 9000 from the disbursement.
      Was this review helpful? 3
      , bangalore
      Reviewed on Sep 06, 2019
    • HDFC Limited Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have applied for HDFC Ltd Home loan through Online and got all the required information about the loan process through the agent .I am unable to avail this loan since my Mother passed away due to this reason cancelled the plan.I have submitted required documents as well.I have received proper follow up and response form HDFC Ltd.
      Was this review helpful? 2
      , jaipur
      Reviewed on Sep 05, 2019
    • ICICI Bank Home Loan
      "Very bad loan service"
      0.5 0.5/5 "Unacceptable"
      I have applied the home loan from ICICI bank since i have a salary account with them. In the branch, the approach is not good and they are not interested to provide the loan to the customer. I had applied the loan amount of Rs. 21 lakhs and they asked me to submit the documents once i given the same, they said they cannot able to process the same because they will give only for CITI side house.
      Was this review helpful? 3
      , kochi
      Reviewed on Aug 31, 2019
    • HDFC Limited Home Loan
      "Service is Good"
      0.5 5.0/5 "Blown Away!"
      Chosen my home loan from HDFC its because of the easy accessibility and there is no lengthy process. I bought the loan amount of Rs. 12 lakhs for the tenure period of 15 years. They took 2 months to sanctioned the loan. There was some documents which i need to submit from my end thats the reason it got delayed. They have offered me a interest rate of 8.35%.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Aug 30, 2019
    • HDFC Limited Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan on 3 months before with HDFC bank , offers got from bank end. So the executive came and collected all the documents and process was done on delay to sanctioned more than 4 months. The loan amount which was sufficient for the tenure period of 15 years. The rate of interest was nominal and fee 1%.
      Was this review helpful? 6
      , chennai
      Reviewed on Aug 30, 2019
    • Punjab National Bank Home Loan
      "Good Experience for the housing loan"
      0.5 4.5/5 "Excellent!"
      The PNB housing loan process was convenient but from my end the documentation submitted delay hence it took some time. I purchased the apartment from the builder, based on the under construction they released the amount. The best part they gave me attractive interest and process was good and faster as compared to others.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 26, 2019
    • LIC Housing Home Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      LIC housing loan process was easy since I am a staff, generally the procedure is simple for the salary person. They collect basic required documents and also the rate of interest is good even I got 8.4% its good. Being a centralized company its trust worthy, I took Rs. 20 lakhs for 20 years my emi amount is around Rs.17,000. They do have balance transfer, foreclosure, part payment without any charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 26, 2019
    • Federal Bank Home Loan
      "Hassle experience with excellent service"
      0.5 5.0/5 "Blown Away!"
      I availed home loan from Federal bank, I took Rs.30 lakhs principal for the duration of 15 years. The rate of interest was floating around 8.75% per annum, they taken some processing fee around Rs.20,000 but there is no stamp duty and insurance charges. The documentation was simple since I am a KYC customer.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 24, 2019
    • HDFC Limited Home Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      I have already got a confirmation with HDFC LTD for home loan, I just need to provide a documents to sanction my loan. I have been able to find my eligibility more easier with HDFC BANK than other banks. There was no delay in the service. I am satisfied with the interest rate and also the processing fee is applicable.
      Was this review helpful? 0
      , new delhi
      Reviewed on Aug 22, 2019
    • review Home Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      Taken my home loan from Repco bank. Their service is not upto the mark. They are charging me a higher amount for the loan. They don't have any customer care service. I have given the documentation for the loan amount of Rs. 7.35 lakhs but they have provided me a less amount.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 19, 2019
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