Documents Required For Home Loan in India


07 May 2019 | 3 min read

Simply speaking, a home loan is an amount of money borrowed by an individual from a financial institution, for a specified tenure, in order to buy, construct, renovate or repair residential property.

This amount is offered by lenders on a fixed/floating home loan interest rate, which the borrower needs to pay monthly, in addition to the principal amount. 

The home loan is easily one of the most popular and largest-selling financial products offered by banks/NBFCs.

How can the best home loan be availed?

Availing of a home loan may be one of the most important financial decisions of your life. There are two types of home loan lenders available in India-the commercial banks (HDFC, SBI, etc) and housing & finance companies (DHFL, LIC Housing Finance, etc). Lenders usually sponsor 80 % of the property market value as a home loan (although some may go up to 90 %) and the remaining amount is capitalized from the borrower in the form of down-payment.

The amount of the best home loan sanctioned depends upon your eligibility. Also, it’s highly imperative for you to calculate your home loan EMI using tools like the home loan EMI calculator at It will help you to determine your monthly EMI outflow and choose the best home loan from prospective lenders.

Benefits when you apply for a home loan

  • Tax benefits of up to 2 lakhs on both principal and interest amount paid
  • Your credit score keeps increasing if you pay your EMI on the due dates
  • Have great investment potential as property value only increases with time

Checklist of Documents required for Home Loan:

Each lending institution has its own specific set of documentation criteria. Here we will let you know about the documents required to submit, depending on different employment types.

Documents required for a home loan as salaried individuals

  • Loan application form- Fully filled the application form along with the recent photographs( passport size) of both the applicant and the co-applicants
  • Identity proof voters ID/Aadhar Card/Driving License/Passport/PAN Card
  • Proof of Income: Salary slip or Income Tax Return for the last 6 months, bank statement of the salary account for the last 6 months and the most recent Form 16 copy, company appointment letter, company ID card.
  • Proof of residence- Utility bill( maximum 3 months old)/Lease & License agreement/Passport

Documents required for a home loan as self-employed individuals

  • Know Your Customer(KYC) documents- Voter’s ID/Aadhar Card/Driving License/Passport/PAN Card
  • Proof of Residence- Utility bill( maximum 3 months old)/Lease & License agreement/Passport
  • Proof of Income-balance sheet or Income Tax Returns/Last 3 years’ Certified profit & Loss accounts (by a CA), and last 6 months’ bank account statements( both self and business)
  • Business ownership proof- Property documents, license registration proof of the company, recent maintenance bill.

Property documents required to submit for Home Loan  

The following is a list of documents needed to apply for a home loan: 

  • Society/Nod Builder's of Approval 
  • Registered Sale Deed, Allotment Letter, or Stamped Agreement of Sale with the Builder A precise estimate of the cost of construction of the house (original document) 
  • Certificate of Occupancy (in case of ready-to-move-in properties) 
  • Receipts for property taxes, maintenance bills, and electric bills  
  • Receipts for advance payments toward the acquisition of an apartment (original documents) 
  • A copy of the building plan that has been approved (key plan/floor plan in the event of flat purchases) 
  • Originals of the revenue authority's land tax paid receipt and possession certificate 
  • Payment receipts or bank account statements demonstrating payments made to the Builder or Seller are acceptable. 

Documents required to submit for NRI Applicants  

If you are an NRI applicant to avail the personal loan then, the following documents you required to submit:  

  • Establishing KYC documentation. 
  • Employer's wage certificate in English giving the employee's name (as it appears on their passport), designation, passport number, date of hire, and most recent salary. 
  • Salary slips from the previous three to six months, including variable components such as incentives, overtime, and so on. 
  • Returns on Information Technology (for applicants filing IT returns in the country). 
  • Business paperwork such as a Trade License, Sponsor Agreement, Power of Attorney, and others are required for self-employed NRIs. 
  • A copy of your passport with the visa page visible. 
  • Proof of employment from the residing country's government, such as a work visa or a labor contract. 
  • Property-related documents, including cost estimates from an Indian architect or engineer. 
  • If there is no documented evidence for salary credit or fund remittance to India, income documentation certified by an embassy official is necessary. 
  • Copies of bank statements from the previous six months from abroad. 
  • NRO/NRE bank statement for the previous six months. 
  • If the applicant is unable to sign the paperwork because he or she is out of the country, the person acting on his or her behalf must present a Power of Attorney. 

Apply for a home loan from AFINOZ.COM, the best online financial marketplace in India. It has digitalized and simplified the entire financial processes related to the home loan and provides the cheapest home loan interest rate in a quick, reliable, transparent manner.

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