I took a housing loan once from Federal Bank and their documentation process is indeed lengthy. Nonetheless, my cousin helped me apply for the loan and I must say you need to be very mindful about the documents as the requirements may vary according to your situation. The documents required for a salaried employee are different from that of a non-salaried one. I have mentioned everything you need to know about the Federal Bank home loan documents required below.
What are the Documents Needed for Federal Bank Home Loan?
There are certain KYC documents that’s mandatory for everyone. Here is the list of documents you need.
Two passport sized photographs each of the applicant and the co-obligant.
Identity proof which can include passport/voters ID/driving license/PAN/Aadhaar Card
Address proof: passport/voters ID/driving license/Aadhar
Age proof which can be passport/birth certificate/driving license/SSLC or AISSE certificate
Certified copy of passport, visa, word permit, ID card (for NRI applicants)
Income documents - If you are a salaried employee like me, you will need salary slips of the last three months, copies of IT returns or Form no. 16 (2 years), and last 6 months’ bank account statement. If you are a non-salaried/self employed resident, you will require proof of business existence and business profile along with IT returns for 2 years, P&L account and tax paid challans.
Income Documents for NRI Salaried and Non-Salaried Employee: I also came across the documents one needs as an NRI applicant.
Salaried employee: You need an NRE account statement with any bank for the last one year and embassy/CRO certified salary slip of the last three months.
Non-salaried employee: You will require proof of business, a 12 months bank account statement, and
balance sheet for the past two years along with tax paid challans if required.
I hope this gives you some idea on the documentation process.
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What are the Document Required for Federal Bank Home Loan?
Unnita
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31 days
2024-12-27T11:23:20+00:00 2024-12-27T11:50:23+00:00Comment
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