Homeloan

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Home Loan

Home Loan can be availed for:

  • Home Construction
  • Home Purchase
  • Buy Residential Plot
  • Buy Plot & Construction of Home
  • Additional (Extension) Construction on Existing Home
  • Renovation/Improvement of Existing Home

 

Special Scheme Home Loan Like PMAY – PRADHAN MANTRI AWAS YOJANA – CREDIT LINKED SUBSIDY SCHEME

Home Loan availing criteria depends upon Bank to Bank Norms:

  • Salaried
  • Self Employed
  • Pensioners
  • With or Without ITR
  • Resident Indian
  • Non-Resident Indian

 

Eligibility

ProfessionSalaried persons working in government, private or MNC companies and self employed professionals like Doctors, CA, CS, Architects
Eligible Age21 years to 60 years
Minimum Income for Loan EligibilityRs. 25,000 per month for salaried; Rs. 5 Lakh gross annual receipts for professionals
Work Experience Required3 years and above
Experience in Current CompanyVaries from 1 month to 1 year
Minimum CIBIL Score650
Maximum EMI as percent of Income65%

Documentation required for Salaried Individuals

  • Identity proof: Aadhar Card, Valid Passport, Valid Voter ID Card or a Valid Driving License
  • Address proof: Ration card/passport/telephone/rental agreement/electricity bill
  • 6 months bank passbook or last 3 months bank statement
  • Recent salary slip or current salary certificate.
  • Latest Form 16

Documentation Required for Self-Employed Individuals and Working Professionals

  • PAN Card: For Company /Firm/ individual
  • Identity proof: Passport/ Aadhaar Card/Voter’s ID card/Driving License/Pan Card
  • Address proof: Aadhaar Card/Passport/Driving License/ Voter ID-Card
  • Latest 6 months Bank Statement
  • Latest ITR along with computation of income, recent Balance sheet along with Profit & Loss a/c (CA Certified /Audited) for the last 2 years
  • Proof of continuation
  • Apart from these documents, other compulsory documents are – Sole Proprietorship Declaration Or Certified Copy of Partnership Deed, Certified original copy of Memorandum and Articles of Association (certified by Director) and Board resolution (Original)