Documents required for Home Loan

Home Loan can be of various types – Loan for Purchase, Improvement, Construction or Land Purchase. It is basically money taken from a bank or a lending institution at a certain interest and is returned monthly as EMI(Equated Monthly Installments). The bank or lending institution keeps the land or home as a security till the loan is returned.

Common Documents required for Home Loan

Application Form duly filled and signed
Passport Photographs
ID Proof, Age Proof & Proof of Residence
Last 6 months bank statements
Processing Fee Cheque
Form 16 or Income Tax Returns
PAN Card

Age Proof Documents

You can choose to provide any of the following documents as a proof of your age, basically any ID which has your date of birth on it –

Aadhaar Card
Passport
Birth Certificate
10^th Class Marksheet
Bank Statement/Passbook
Driving License

ID Proof – Documents for Home Loan

Any one of the following will suffice –

Passport
Aadhaar Card
Voter ID/EPIC(Electoral Photo Identity Card)
Driving License

Proof of Residence

Basically any sort of a proof of your current address –

Ration Card
Voter ID/EPIC
LIC Policy
Telephone Bill, Electricity Bill, Water Bill etc.
Passport
Bank Passbook/Statement

Salaried & Self Employed Individuals – Docs required

In additional to the above mentioned mandatory documents, you need to furnish the below –

Salaried Individuals	Self Employed Individuals
Pay Slips – 2 to 3 months Certification Letter by Employer(Optional) Incerment/Promotion Letter(Optional)	Proof of Business Education Qualification 3 years of IT Returns Balance Sheet of firm Profit/Loss Statement of company

Property Documents required for Home Loan

These need to be provided mandatorily –

Permission of Construction or NOC from Builder/Society
Sale Deed/Allotment Letter/Agreement of Sale
Maintenance Bill, Electricity Bill and property tax receipts
Receipts of an advances made for the transaction
Approved copy of the construction/building/floor plan
For ready to move in properties – occupancy certificate

Having access to these documents can be difficult and time taking. To solve the problem of organizing documents, storing in a secure place and having 24×7 access, we have come up with Sorted AI. With Sorted AI, you can keep all your documents at one place, automatically categorized and on your finger tips.

Bank Sites for Loan Documents/Eligibility

Following is the list of some of the banks providing home loan and the list of documents they need to process your home loan –

If you are unable to find your specific bank or financial institution, please comment and we will help you with the best possible option of Home Loan for you.

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Gaurav Shrishrimal

Gaurav heads Growth & Marketing at Sorted AI. He is an IIT Kanpur Alumnus. He has more than 5 years of work experience in Entrepreneurship & Investment Banking where he worked with Credit Suisse & Tapp Me. He is an avid Keyboard/Percussion Player & a better discount hunter.

Tags: aadhaar cardHome LoanLoanPassportPersonal Documents

5 years ago

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