What Documents Required for SBI Home Renovation Loan?

SBI home loan includes options for the purchase of ready-built property, purchase of under-construction property, purchase of pre-owned homes, construction of a house, extension of house, and repair/renovation. I recently opted for the SBI home improvement loan. Hence, I can provide you all with the list of documents required for home renovation loan SBI.

What documents required for SBI home renovation loan?

• Employer Identity Card

• Proof of Identity (Anyone): 

PAN/ Passport/ Driver’s License/ Voter ID card

• Loan Application: 

Completed loan application form duly filled in and affixed with 3 Passport size photographs

• Proof of Residence/ Address (Any one): 

A recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

• Permission for construction (where applicable)

• Occupancy Certificate (in case of ready-to-move property)

• Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt

• Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale

• Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)

• Payment Receipts or bank A/C statements showing all the payments made to Builder/Seller

• Last 6 month’s Bank Account Statements for all Bank Accounts held by the applicant/s

• Loan A/C statement for last 1 year, If there is any previous loan from other Banks/Lenders 

• Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

• Salary Slip or Salary Certificate for the last 3 months

• Business address proof

• Balance Sheet & Profit & Loss A/c for last 3 years

• IT returns for last 3 years

• Business License Details(or equivalent)

• TDS Certificate (Form 16A, if applicable)

• Certificate of qualification (for C.A./ Doctor and other professionals)

What are the eligibility criteria to avail SBI home improvement loan?

• Resident Type: Resident Indian

• Minimum Age: 18 years

• Maximum Age: 70 years

• Loan Tenure: up to 30 years.

I’d like to conclude my answer here about the SBI home improvement loan and the list of documents required for home renovation loan SBI. I hope this helps:)

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