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    Documents Required For Home Loan

    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

    • Axis Bank Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I am using the housing loan from the AXIS BANK from past three to four months i have applied it where the process is quick to get the loan it took 20 days to get the loan. The documentation process is simple the loan amount is very good also the rate of interest is 8.5% which is floating.
      Was this review helpful? 0
      , kolkata
      Reviewed on Nov 16, 2018
    • HDFC Limited Home Loan
      "Ease of taking loan from HDFC"
      0.5 4.0/5 "Great!"
      I have received the home loan on time and i had applied the loan amount of Rs. 65 lakhs with a interest rate of 9.25%. When i applied the loan they have provided the interest rate of 8.95%. I have chosen the tenure period of 18 years. I used to pay the EMI of Rs. 44000 and i used the make the payment through ECS. Around 2 years back, i got the loan and the documentation process was smooth.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 12, 2018
    • Kotak Home Loan
      "Not satisfied with the service"
      0.5 1.0/5 "Really Bad"
      The experience i had with this Home loan has not been good since the process has taken more time than usual. There has been some issues on the documentation and their customer support team response has been slow. The interest rate with the has been much higher compared with the market rate and the issues had been sorted out at last by the Managing Director after i writing a letter.
      Was this review helpful? 0
      , mumbai
      Reviewed on Nov 09, 2018
    • SBI Home Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I got my housing loan from State bank of India . Am satisfied with rate of interest which is promising one The customer service and response is good. It took 10 days for the documentation and approval process.I am making the payments through Ecs process.
      Was this review helpful? 4
      , bangalore
      Reviewed on Nov 04, 2018
    • Bank of Baroda Home Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have taken the housing loan from the BANK OF BARODA before 3 months. The documentation process is simple and easy. The loan amount is sufficient and also the rate of interest is higher also it is a floating. The duration to repay is for 5 years.
      Was this review helpful? 0
      , kota
      Reviewed on Nov 04, 2018
    • Axis Bank Home Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have taken home loan from axis bank Their customer service representative explained the terms and condition and the process . But they took 1 month nearly for documentation and approval . Am satisfied with the rate of interest which is the market price . They have given the tenure period of 5 years .
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 04, 2018
    • HSBC Bank Home Loan
      "Good Financial service"
      0.5 5.0/5 "Blown Away!"
      I Have taken housing loan from Hsbc bank . Am satisfied with the rate of interest which they have offered is nominal one I make the payment through online transfer . There is no processing fess for the documentation and approval process.before taking loan they have explained the pre closure charges also.
      Was this review helpful? 1
      , pune
      Reviewed on Nov 04, 2018
    • Axis Bank Home Loan
      "Process should be proactive"
      0.5 4.0/5 "Great!"
      Only reason to select AXIS bank is because of the funding is higher based on the salary account transaction, I have submitted the documents but it was very lengthly process, they took a month to complete. Customer service is also not upto the mark. However the interest rate is good.
      Was this review helpful? 2
      , pune
      Reviewed on Nov 01, 2018
    • Punjab National Bank Home Loan
      "Process should be faster"
      0.5 3.0/5 "Satisfactory"
      PNB housing taken long time to disburse the loan, they keep on collecting different document, they are not transparent and the process was not streamed line. I fed with the documentation process, because of that registration got delay but I got better interest rate.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 01, 2018
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a home loan from the STATE BANK OF INDIA . The application process and the documentation was smooth and hassle free. They provide nominal rate of interest . Everything was good, be it the Customer support or the application process. So far it is good .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Oct 31, 2018
    • HDFC Limited Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I took a home loan from the HDFC Ltd for 10 Lacs, I got the loan amount with in 15 days. It was also okay. I applied via agent who helped with the documentation and application. Overall it has been a very good loan experience with the HDFC and never faced any issues with their services.
      Was this review helpful? 3
      , mumbai
      Reviewed on Oct 20, 2018
    • SBI Home Loan
      "Best Financial Service"
      0.5 5.0/5 "Blown Away!"
      I got my home loan from State bank of India . Am satisfied with rate of interest which is promising one with nominal processing fees. The customer service and response is good. It took few days for the documentation and approval process . My payments gets auto debits from the account
      Was this review helpful? 10
      , coimbatore
      Reviewed on Oct 15, 2018
    • DHFL Home Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      I have taken home loan from Dhfl finance . Am not satisfied with the rate of interest which is 11% . There are processing fees which is also high one . They took 40 days for the documentation and approval. Not satisfied with customer service as they have to guide the customer with better rate of interest which could help the customer.
      Was this review helpful? 11
      , mumbai
      Reviewed on Oct 10, 2018
    • Axis Bank Home Loan
      "Taking overcharged amount"
      0.5 0.5/5 "Unacceptable"
      I had applied for TOP-UP from Axis Bank, (Loan Dept) Goregaon - West, branch on April 2018. Mr. Ayush the sales person told me submit all the necessary documents for the loan procedure. I told him that "I do not have OC & Society Share Certificate" but still he said that you will get TOPUP without submitting these documents. Regarding the TOPUP it got declined on 12th May 2018 & Mr. Ayush gave me sanction letter for BT on 16th May 2018. SIGN BY MR. KUNDAN JOSHI (EMP 84207) MANAGER. "I AM APPLIED FOR TOPUP." I had inquired about the processing fee in the other Axis Bank branch, I came to know that fee is Rs. 2950/- only But Goregaon West had charged me Rs. 11800/- (2 Cheques of Rs. 5900+5900/-)
      Was this review helpful? 4
      , mumbai
      Reviewed on Oct 10, 2018
    • DHFL Home Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have taken home loan from DHFL finance . Am satisfied with the rate of interest which is quiet high . There is processing fees for the documentation and approval which is high too ,But they instantly approved Overall am satisfied with the customer service and response .
      Was this review helpful? 5
      , ahmedabad
      Reviewed on Oct 09, 2018
    • State Bank of Hyderabad Home Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I got my housing loan from State bank of India . Am not that much satisfied with rate of interest which is high one with processing fee for the documentation and approval The customer service and response is good. It took 7 days for the documentation and approval process. Where i make the payment through Net bnaking .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Oct 06, 2018
    • DHFL Home Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have chosen home loan in DHFL Based on the advertisement where they have show rate of interest of 8.5 but i got 13 % , which is way higher that what they promised for .They charged some fees for processing and documentation . Overall am satisfied with the customer service and response .
      Was this review helpful? 6
      , kolkata
      Reviewed on Oct 04, 2018
    • LIC Housing Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have been using the housing loan from last 1 year and they have approved for rupees 19lakhs which is satisfactory and the rate of interest is 8.4% and it is a floating interest they have offered. The documents submitted physically also the quick process to get the loan. The service is good.
      Was this review helpful? 6
      , chennai
      Reviewed on Oct 03, 2018
    • LIC Housing Home Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have taken home loan from Lic housing finance . Where they are giving satisfying rate of interest . There is nominal charges for the processing fees for the documentation . Am pretty much satisfied with the rate of interest which they have provided.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Oct 03, 2018
    • review Home Loan
      "Best Financial Service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan from Bajaj finance where the rate of interest is nominal with nominal processing fees for the documentation and approval . There customer representative explained the terms and condition before taking the loan . They did instant approval process.
      Was this review helpful? 1
      , chennai
      Reviewed on Oct 02, 2018
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