Buying Your Dream Home? These Are the Home Loan Documents Required in India!

Who doesn't want to own a place they can call their own? It is everyone’s dream. However, not everyone has the means to buy a house upfront by paying the whole sum. This is especially true for the Indian middle class who resort to agreeable home loans for buying a house. 

Before applying for home loans, it is important to furnish property documents, income proof and KYC details. Every bank/lending institution has its own set of documents required for housing loans.

 In this article, we will take you through the list of documents needed for a home loan from various banks and lending institutions

Home Loan Documents Required

While applying for a home loan, you are required to furnish several documents including your KYC details(Pan card, Aadhar, Passport), Age proof and Address proof. Along with these, supporting property documents and proof of income also needs to be submitted. For self-employed people including businessmen - Income Tax returns, as well as profit/loss statements, are required.

 Kindly note, that this is a rough description of the probable list of documents required for a home loan. Each bank has its own set of guidelines about these documents. 

Property Documents Required for a Home Loan

1. Original copy of the Sale Agreement or the Share certificate (for cooperative societies). 
2. Building and land tax receipts along with the possession certificate and an approved sketch of the property location. You have to get this sketch approved by the revenue authorities. 
3. Letter of allotment from the concerned Society/Housing Board/Private builder.
4. Advance payment receipts of the property.
5. Certificate of Non-encumbrance encompassing the last 12 years/30 years.
6. Proof of your land tax payment and possession certificate from the revenue department.
7. Permission letter from Appropriate Authority.
8. Approved floor plan of the building
9. Original NOC (No Objection Certificate) issued under the ULC Act, 1976.
10.  In case agricultural land is converted to real estate, a copy of relative order is required. 
11. No objection certificate (NOC) from Builder/Housing Society.
12. Estimated construction cost.
13. Letter from Society/Builder/Housing Board mentioning their bank and account details, for instalment remittance.
14. Application for purchase of land plot that must contain the last date to finish construction of the house.
15. Standard report from lawyer.
16.  A report stating the property valuation is done by an expert.
17.  Documents are required for the handover of original property documents after the loan is cleared.
18. Power Of Attorney for collection of the original property documents.
19. If the borrower of the loan suddenly passes away -

A - Letter requesting handing over of Property documents from Legal Heir/Nominee(s).

B - Letter relinquishing the right to Legal Heirs/Nominees for Property documents handover.

Besides the ones mentioned above, the banks' reserve the right to ask for documents that might deem necessary for the loan sanction.

Home Loan Eligibility Check

Documents Required for a Home Loan for a Salaried Person

In addition to the general documents, office-goers need to produce a few additional documents. This helps the bank to verify if the person has a stable job and is capable of paying EMIs. Here is a list of documents you need to furnish the bank/lending institution before a home loan is sanctioned:

• Original copy of a Salary certificate issued by the employer
• A copy of Form 16/ Income Tax Returns for the last 2 FYs(Financial Years)
• Your bank A/C statements for the last 3 months.

Home Loan Documents Required for Self-employed Individuals

Self-employed individuals(shop-owners, home-run business owners and industrialists) are required to furnish the following documents without fail

• For self-employed individuals, copies of IT returns or Assessment orders for the last 3 financial years are needed.
• Self-employed also need to produce proof of Income-tax payment in advance in the form of challans.
• If you are a non-salaried individual, then proof of your business address is needed. 
• Self-employed businessmen need to submit copies of IT returns/Assessment orders for the last 3 financial years.
• If you are a businessman and have paid income tax in advance, you need to furnish a challan for the same

Documents Required By Different Banks

Apart from some basic documents, the list of the required documents for each bank/lending institution is different. Let's dive into the details.

Documents Required for Home Loan - Sbi

SBI is one of the most trusted banks in the country. Here are some general documents that you need while applying for a home loan here:

• Office Id card (issued by the employer)
• Duly filled loan application form with 3 Passport size photographs affixed
• Any one of the following ID proofs: PAN/ Passport/ Driver’s License/ Voter ID card
• Address proof. Any one of the following self-attested documents will do: Latest copy of your Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or a copy of your Passport/ Driving License/ Aadhar Card.

Required Property Documents:

• Certificate of Permission for construction (wherever applicable).
• Registered Agreement for Sale (only for Maharashtra)/Letter of Allotment/Stamped Agreement of Sale.
• In the case of ready to move properties, an occupancy certificate is necessary.
• A copy of your maintenance bill, electricity bill and property tax receipt. For Maharashtra, a share certificate is additionally needed.
• An approved floor plan by the builder (Xerox blueprint) and Registered development agreement of the builder. For new properties, a conveyance deed is also necessary.
• Bank A/C statements containing the payment history to the seller/builder

Additionally, you need some Bank account statements:

• Your bank statements for the last 6 months. This should be for all bank accounts that the applicant holds.
• If you have taken any loan from any other bank previously, then the loan A/C statement of the prior year should be submitted. 

Salaried applicant/ Co-Applicant needs to furnish the following documents: 

• Last 3 months' Salary slip/ salary certificate
• A copy of your Form 16 for the last two financial years/ IT returns copy approved by the Income Tax Department 

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

• Proof of the address of your business
• IT returns for last 3 years
• Balance Sheet and Profit/loss statement for the last 3 financial years
• Business License Details
• TDS Certificate (Form 16A, if applicable)
• For doctors/ C.A. and other professionals, a valid qualification certificate is mandatory

Documents Required for Home Loan HDFC

The following documents are required along with your Home Loan application:

For Agriculturalists:

1. Loan application form with passport size photographs
2. Proof of Identity and Residence
3. Bank A/C statements for the last 6 months
4. A cheque in favour of HDFC consisting of the processing fee 
5. Proof of landholding
6. Copies of Title Documents of Agricultural Land showing the nature and number of crops being cultivated
7. Statement of any loan availed in the previous 2 years

For salaried applicants:

1. Duly filled application form with passport size photographs
2. Proof of Identity and Residence
3. Bank statements of the last 6 months
4. A cheque in favour of HDFC consisting of the processing fee 
5. The latest salary slip issued by the employer
6. Form 16

For businessmen and Professionals:

1. Duly filled application form with passport size photographs
2. Proof of Identity and Residence
3. Bank statements of the last 6 months
4. A cheque in favour of HDFC consisting of the processing fee
5. A valid certificate of professional degree and Proof of business
6. The nature of your business, and the Income Tax returns of the last 3 financial years
7. Profit/loss statement and balance sheet of the previous 3 years

Bank Of Baroda Home Loan Documents Required

• Duly filled loan application form with three passport size photographs
• PAN card as identity proof (mandatory for loan application above Rs.10.00lacs)
• Driver’s License / Voter ID / Passport / Aadhar Card
• Proof of Residence (Driver’s License / Voter ID / Passport / Aadhar Card/ Registered Rent Agreement)
• If you took out a loan previously, then loan a/c statement for the last 1 year along with the loan sanction number. 
• Proof of assets held like LIC/NSC/KVP/MF/Property
• Form 135 stating Assets and Liabilities
• Verified report from the Income Tax department

For salaried individuals:

• Salary slips of the last 3 months/1-month salary slip for Guarantors 
• Applicant and co-applicants Form 16 & ITR statements for the last financial year
• Copy of Employee ID issued by the employer
• Proof showing duration of employment (Appointment date, promotion date, increment date etc)
• For people without a Bank of Baroda account, your 6 months A/c statement. It can either be a salary account or an individual one.

Additional documents required for self-employed professionals or businessmen: 

• Balance sheet and profit and loss statement for the last 2 financial years 
• Income Tax Returns for the last 2 years
• Business proof: Gumasta License, Registration Certificate, Service Tax Registration, among others
• IT Assessment / Clearance Certificate, Income Tax Challans / TDS Certificate (Form 16A) / Form 26 AS for income declared in ITR.
• In the case of partnership firms, applicants are required to submit the firm’s PAN and address proof 
• Memorandum of the company
• ITR and audit accounts of the company for the last 2 years
• Current account statement for the last year

For agricultural applicants:

• Talati/Gram Sevak/Village Revenue officer Certificate (2 years) income
• Last year's income certificate
• Land revenue records – Form 6, 7/12, 8A
• Bank account statement of the last year

Bank Of India Home Loan Documents List

To avail the BOI star home loan, you will need 2 passport-sized photographs of the loan applicant and the co-applicant (if any). Note that these photos should be self-attested in front of the bank officials. If there is any guarantor, then his/her photo is also mandatory. Other than that, the general requirements are the same as other banks.

For salaried individuals, 6 months' payslip, Form 16 for 2 years and 6 months bank statement is necessary for loan sanction. I

For self-employed professionals, proof of business-like VAT/Service Tax Registration certificate is mandatory. You are also required to furnish the business address proof, your profit and loss statements and a balance sheet certified by a chartered accountant. The bank will also need to know whether you are in a partnership firm as well as your business profile.

Punjab National Bank Home Loan Documents Required

You will need self-attested copies of the following documents (For salaried individuals):

1. Duly filled loan application form along with photographs as specified by the bank
2. Age proof (PAN, Passport)
3. Residence proof (Passport, Driving license, Telephone bill, Ration card, Voter ID etc)
4. Latest Educational Degree
5. Salary slips (last 3 months)
6. Last 2 years Form 16
7. Last 6 months' salary account statement
8. Processing fee cheque in favour of “PNB Housing Finance Ltd”
9. Photocopy of Property Title documents, Approved plan

For Self-employed professionals:

1. Duly filled loan application form along with photographs as specified by the bank
2. Age proof (PAN, Passport)
3. Residence proof (Passport, Driving license, Telephone bill, Ration card, Voter ID etc)
4. Latest Educational Degree
5. Certificate showing proof of business along with the business profile
6. Last 12 months Bank account statements
7. Processing fee cheque in favour of “PNB Housing Finance Ltd”
8. Photocopy of Property Title documents, Approved plan

Lic Home Loan Documents Required

LIC is one of the most trusted corporations in India. A lot of Indians prefer taking home loans from LIC. The general document requirements as well as that of salaried and self-employed professionals is the same as that of SBI. Here are a few more requirements under special cases:

Purchase from Builder

• Agreement for Sale copy
• Registration receipt copy
• Previous payment receipts
• No Objection Certificate (NOC) from builders
• Sanctioned plan and Loan sanction letter
• A copy of NA permission / ULC clearance, wherever applicable

Direct Allotment in a Co-operative Housing Society

• Allotment letter
• Share certificate
• Society registration certificate
• Copy of sale/lease deed in favour of the society
• NOC from the society
• Copy of the sanctioned plan and sanction letter
• Copy of NA permission / ULC clearance whichever is applicable

Direct Allotment in a Co-operative Housing Society by Public Agency

• Allotment Letter, Share Certificate, Society Registration Certificate
• Lease Agreement
• Public agency’s approved list of members
• NOC from Public Agency in favour of LICHFL
• NOC from society

Public Agency’s allotment to individuals

• Allotment letter from Public Agency
• Tripartite Agreement between the borrower, LICHFL and the Public Agency in the prescribed format

Documents Required for Home Loan Icici Bank

The general requirements are the same as other banks. For a detailed guide, visit ICICI official website.

The central bank of India home loan documents required

For the Central Bank, you have to be physically present at the branch for all the procedures. One of the salient features about them is you don't need any guarantor and there is zero pre-closure and part-payment fee. You will need KYC-PAN, Address proof and ID Proof. For salaried individuals, income proof (Salary slip, form 16), bank statements and one passport size photograph are mandatory.

Documents Required for Home Loan Axis Bank

The basic requirements are the same as that of other banks. For more details visit their official website.

Repco Bank Home Loan Documents Required

For Repco Bank, a host of supporting documents are required based on the applicant/loan type

For applicant and co-applicant/s mandatory personal documents include:

• Self-attested photocopies of documents
• Two Passport size photos of the applicant, co-applicants and the guarantors, if any
• Photocopies of the following documents are required
• Age proof (passport / school certificate / employer certificate)
• Address proof (passport / ration card / election ID card / Employer I.D./Aadhar Card)
• Last six months bank A/c statement of applicant and co-applicant

Income documents include:

For both applicant and co-applicant (whichever is applicable)

If salaried

• Salary slips for latest 3 months
• Salary certificate
• Form 16 or IT returns with income computation for the latest 3 years

If non – salaried

• IT returns with computation of income for the latest 3 years
• Audited financial statements for the latest 3 years
• Write up about the business
• Details of credit facilities availed by the individual as well as the company or the firm, from a bank/financial institution.
• Partnership deed, if applicable. 
• All the income paper copies duly attested by the auditor along with the seal and membership number.

For more details, visit the official website.

Idbi Bank Home Loan Documents Requirement

The general requirements are the same. Visit the official website for a detailed requirement list.

Canara Bank Home Loan Documents Required

General property documents are the same. For more information, visit the bank’s official website.

NRI Home Loan Documents Checklist

• Employer ID card
• Attested copy of Passport and Visa
• Address proof of the current foreign address
• CDC Certificate (for merchant navy)
• PIO Card issued by the Government of India. (in case of PIOs)
• Documents may be attested by FOs/Repgive offices or Indian Embassy/Consulate or Overseas Notary Public or officials of Branch/Sourcing outfits based in India.
• Duly filled loan application form along with 3 Passport size photographs
• Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
• Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Papers:

• Permission for construction (where applicable)
• Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
• Occupancy Certificate 
• Share Certificate (only for Maharashtra), Maintenance Bill/Electricity Bill/ property tax receipt
• Approved floor plan and conveyance deed
• Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

A lot of banks in India provide home loans to NRIs. Each bank has its own set of requirements and guidelines. We recommend visiting the official websites for up-to-date information.

Documents Required for a Home Loan for Resale Flat

1. Title Report
2. No Objection Certificate from the bank
3. Building approval certificate
4. Occupancy certificate
5. Encumbrance certificate
6. Utility Bills
7. Latest Tax payment receipts
8. NOC
9. No Dues Certificate from the concerned housing society/residential property
10. Title Deed
11. Sale Deed
12. Possession certificate
13. Share Certificate

So many people take home loans to attain the house of their dreams. However, without any prior knowledge of the required home loan documents, your loan won't be sanctioned. To know more about finance and banking, you can visit this page, and know the best banks for home loans click here. Understanding finances can be a daunting task sometimes. But no need to fret! You can take the help of financial experts at NoBroker. Click the link below to get help with your home loans. With NoBroker you get the BEST interest rates and the whole process is hassle-free. 

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