Home Construction Loans

Age

1. Minimum Age: 18 years
2. Maximum Age: 65 years

Resident Type

1. Resident Indian
2. Non-Resident Indian (NRI)

Employment

The applicant must be salaried and be working under the current employer for at least 1 year

Residence

1. A permanent residence
2. Or a rented residence where he/she has resided for at least 1 year before applying for loan

Credit score

A good credit report with a score of at least 750 or more obtained from a recognised credit bureau

Age

1. Minimum Age: 18 years
2. Maximum Age: 65 years

Resident Type

1. Resident Indian
2. Non-Resident Indian (NRI)

Employment

1. Self-Employed Professional (SEP)
2. Self-Employed Non-Professional (SENP)

Residence

1. A permanent residence
2. Or a rented residence where the individual has resided for at least 12 months before applying for loan

Credit score

A good credit report with a score of at least 750 or more obtained from a recognised credit bureau

Proof of Identity (any one)

1. Aadhaar Card
2. Valid Passport
3. Voter ID Card
4. Valid Driving License
5. PAN Card

Proof of Residence (any one)

1. Valid Passport
2. Voter ID Card
3. Aadhar Card
4. Employer ID Card
5. Utility Bills

Proof of Income

1. Income Tax Returns and latest Form 16
2. Salary account statements showing salary credits for the last 6 months
3. Salary slips or certificated for the last 3 months

Property Related Documents

1. Encumbrance Certificate
2. Title Deeds of the Plot
3. Estimate for construction assessed by a Civil Engineer/ an Architect
4. Photocopy of the plan sanctioned by Local Authorities

Other Documents

1. Own Contribution Proof
2. Appointment letter/employment contract If the current employment period is less than 12 months
3. Bank account statements indicating repayments made towards other ongoing loans if any
4. Processing fee cheque in favour of the lending institution
5. Duly filled loan application form affixed with passport size photographs of all the applicants/co-applicants.

Proof of Identity (any one)

1. Voter ID Card
2. Valid Driving License
3. PAN Card
4. Valid Passport
5. Aadhaar Card

Proof of Residence (any one)

1. Aadhar Card
2. Utility Bills
3. Valid Passport
4. Voter ID Card
5. Employer ID Card

Proof of Income

1. Income Tax Returns coupled with the computation of income of both the applicant and the business entity (attested by a certified CA) for the last 3 assessment years
2. Balance Sheet and P & L account statements with Annexures/Schedules of both the business entity and the applicant (attest by a certified CA) the last 3 years
3. Savings account statements of the applicant and the current account statements of the business entity for the last 6 months

Property Related Documents

1. Title Deeds of the Plot
2. Estimate for construction assessed by a Civil Engineer/ an Architect
3. Encumbrance Certificate
4. Photocopy of the plan sanctioned by Local Authorities

Other Documents

1. Own Contribution Proof
2. Latest Form 26 AS
3. Business Profile
4. Memorandum and Articles of Association of the Company
5. Partnership deeds if the business entity is established as a partnership firm
6. List of Shareholders and Directors with their respective shareholdings if the business entity is established as a company (certified by a CA)
7. Bank account statements of both the individual and the business entity indicating details of ongoing loans if any
8. Processing fee cheque favouring the bank/financial institution
9. Duly filled application form affixed with passport size photographs of all the applicants/co-applicants and signed across.