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Home Loan Documents Required

Identity Proof (Any One)

  • Driving License
  • PAN
  • Voter Card
  • Valid Passport
  • Residence Proof (Any One)

  • Copy of Electricity Bill/Water Bill/ Telephone Bill
  • Copy of valid Passport/Aadhaar Card/Driving License
  • Other Documents

  • Employer Identity Card
  • Duly filled loan application form affixed with 3 passport size photographs
  • Loan account statement for the previous 12 months if the applicant has any other ongoing loan from other banks/financial institutions
  • Bank account statements for all the bank accounts owned by the applicant for the last six months
  • Income Proof Documents

    For Self-employed Applicant/Co-applicant:

  • Income Tax Returns for the last 3 years
  • Certificate of Qualification (for Doctors/CA and other professionals)
  • Balance Sheet audited by a certified CA and Profit and Loss account for the previous 3 years
  • Business License Details
  • Business Address Proof
  • TDA Certificate
  • For Salaried Applicant/Co-applicant:

  • Salary Slips for the last three months
  • Copy of Form 16 or Income Tax Returns for the last two years
  • Documents Required from all Non-Resident Indians (NRIs) Applicants

    Identity Proof (any one)

  • PAN
  • Valid Passport
  • Driver’s License
  • Voter’s ID
  • Residence Proof (any one)

  • Telephone Bill
  • Electricity Bill
  • Water Bill
  • Piped Gas Bill
  • Valid Passport
  • Driving License
  • Aadhaar Card
  • Other Documents

  • Attested copy of the applicant’s/co-applicants’/guarantor’s valid passport and visa
  • Proof of residence indicating the applicant’s current overseas address
  • Employer Identity Card
  • If the applicant is employed in the Merchant Navy, the applicant is required to submit a copy of Continuous Discharge Certificate (CDC)
  • PIO Card issued by the Government of India in case the applicant/co-applicant is a Person of Indian Origin (PIO).
  • The completed loan application form duly filled with three passport size photographs of the applicant and co-applicants.
  • The attestation of the documents can be done by: 1. Indian Embassy/Consulate 2.
  • Overseas Notary Public 3. FOs/Representative Offices 4. Officials of Branch/Sourcing Units based in India
  • Income Proof Documents for NRI

    For Self-employed Applicant/Co-applicant

  • Proof of income if the applicant/co-applicant is a self-employed professional/businessman.
  • Business address proof
  • Balance Sheet and Profit and Loss accounts audited by a certified CA for the last 2 years
  • Individual Tax Return for the last 2 years – Not applicable to NRIs/PIOs located in the Middle East countries.
  • Bank statement of the individual’s as well as the business/company’s overseas account for the last 6 months.
  • For Salaried Applicant/Co-applicant

  • Valid work permit
  • Employment contract (translated in English) attested by the employer/consulate/embassy/Indian foreign office if the contract is in another language.
  • Salary slips for the last 3 months
  • Bank statements indicating salary credit for the last 6 months
  • Copy of the Identity Card issued by the current employer along with the latest salary slip (original).
  • Copy of the individual Tax Return for the last assessment year. - Not applicable to employees in the Merchant Navy and NRIs/PIOs located in the Middle East countries.
  • Property Papers:

    1. Agreement of Sale (any one):
      • Registered Agreement of Sale
      • Stamped Agreement of Sale
      • Allotment Letter
    2. Occupancy Certificate in case the property is a ready-to-move-in property
    3. Copy (blueprint) of the Approved Plan and Registered Development agreement of the builder
    4. Conveyance Deed in case of a new property
    5. Bank account statements indicating all payments made to the seller or builder

    Frequently Ask Questions

    Housing loans are granted to:
    Individuals and Persons of Indian Origin (PIO) provided that the loan covered by primary / collateral security of immovable property in India in the name of PIO. The PIO should hold a valid PIO Card accompanied by a valid foreign passport. A close relative (as defined in Companies Act) residing in India should join as co-obligant to the loan.

    Maximum period of home loan for Resident customers is 30 years and for NRI customers is 20 years. Period of loan depends upon age of the Borrower also.

    Please click here to know more about documents required for Resident Salaried, Resident Self employed, Non-Resident Salaried and Non-Resident Self employed borrowers.

    Rate of Interest will change subject to the changes made by Bank/RBI from time to time. Please click here to know latest interest rates on housing loans. Whenever interest rates are changed, new rates and corresponding EMI shall be communicated to the borrower.

    Immediate family members such as your parents, spouse and children can be joint borrowers in case of a home loan.

    Repayment of housing loans are to be made in Equated Monthly Installments (EMI).

    EMI stands for Equated Monthly Installment. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your home loan. Your housing loan EMIs are fixed at the time of availing the loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid to the bank along with interest.

  • Principal - The principal is the loan amount that you avail from Bank. Lower principal will lower your EMI and vice versa.
  • Rate of Interest - The rate of interest is the rate at which Bank offers you the loan. It is also directly proportional to your loan EMI.
  • Tenure - The tenure or the period is the time within which you repay your loan. It is inversely proportional to EMI. It means longer tenure makes EMIs cheaper and vice versa.
  • Fixed rate of interest means interest rate remains constant during the entire tenure of the loan.

    Floating rate of interest means interest rate fluctuates based on the changes in RBI’s Repo Rate.

    Repo rate is the rate at which Reserve Bank of India lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation

    Under the Pre-EMI option, the borrower is required to pay only the interest on the loan amount that will be disbursed as per the progress on the construction of the project. The actual EMI payment starts after the possession of the house / flat.

    You can calculate home loan EMI using our EMI calculator by entering principle amount, tenure, rate of interest etc

    Amortization is a tabular schedule with details of interest payment and periodic principal of a loan along with the amount outstanding after each payment and the decrease of loan balance till zero.

    Yes, if you are a resident Indian, you are eligible for income tax benefits on both the principal and the interest of a Home Loan under the Income Tax Act.

    Yes, you can make your prepayment in either part or full.

    Please click here to know more service charges for Housing loan.

    Please place the request for foreclosure certificate at your loan origination branch to know the principal amount outstanding for closure of loan and applicable charges.

    The Foreclosure Statement will be processed within 14 working days from the date of request. LoanOnMind does not take any responsibility, and will also not be liable, for your claims if the details provided by you are incorrect /incomplete.

    Want to know more?

    EMI Calculator


    EMI Calculator

    Loan EMI

    ₹ 2,49,595

    Total Interest Payable

    ₹ 3,49,02,802

    Total of Payments
    (Principal + Interest)

    ₹ 5,99,02,808