In this article I will be writing about the important documents required for applying the home loans. It is one of the important part while you apply for a loan. Without all the documents required for processing the loan, you will not be eligible to apply for home loans. It is time to understand what are the necessary documents required, if you don’t have that get it ready before applying for a home loans. This article will explain you in detail about the various documents required by the banks. If you have any doubts please post it in the comments section. You can subscribe to our future articles here.
It is depend on the category which you belongs to. Normally banks require the documents for Salaried and Self Employed. Salaried people who are working for another company and have the regular income. They will need to submit the certain set of documents. In the another category, who are doing business and professionals responsible for their earnings has to show the strong proof documents for their income. This article will explain that in details.
- Salary slip/Form 16 A.
- A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills.
- A photocopy of Investments (FD Certificates, Shares, any fixed asset etc. or any other documents supporting the financial background of the borrower.
- A photocopy of LIC policies with the latest premium payment receipts (if any).
- Photographs (as applicable).
- A photocopy of bank statement for the last six months.
Self-Employed / Businessmen
- A brief introduction of Business/Profession.
- Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
- A photocopy of Advance Tax payments (if applicable).
- A photocopy of Registration Certificate of establishment under shops and Establishments Act/Factories Act.
- A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
- Bank statements of Current and Saving accounts for the last 6 months.
- A photocopy of Certificate of Practice(if applicable).
- A photocopy of any bank loan (if applicable).
- A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.
- A photocopy of LIC policy (if applicable).
- A photocopy of investments (FD Certificates, Shares, any other fixed asset).
In this article I have written about the documents necessary to process a home loans application. But, the list may vary depend on the banks and the individual. Some banks does n’t require many documents of the individual is working for a well known organization. How ever some part of the list will be very common for all the banks. If you have any doubts please post it in the comments section. Thank you for reading the article!!!
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