Low processing fees
Personalized solutions with long-term loan repayment facility
Equitable interest rates
Avail benefits of best-in-category interest rates
Documentation made easy
Instant financing with minimal documents
The process of availing a Home Loan starts as soon as an individual obtains a Home Loan Application Form, and submits it to us duly filled and signed. However, many times, applicants face difficulty while filling up the form, and understanding the specific requirement of documents for home loan. So, in order to facilitate a hassle free process for all our customers, please find the entire list of documents required for home loan.
For a Salaried Applicant:
For Self employed:
| No. | Documents Required for Home Loan | Self Employed Professionals (SEP) | Self Employed Non-Professional (SENP) |
|---|---|---|---|
| 1 | Bank statement/pass book copy | Bank statement/ passbook for last 12 months (for applicants whose income is being considered for eligibility) of all accounts mentioned in application form mentioning name of account holders, account number, bank name and branch | Bank statements for the last 12 months – from current account and all other bank accounts mentioned in the application form |
| 2 | Age proof | Same as Salaried Individuals |
|
| 3 | Income proof and business continuity Proof and other documents required to avail Home Loan |
|
|
| 4 | Job confirmation proof/proof of | NA | NA |
| 5 | Proof of existence of partnership firm / company / HUF / LLP |
|
Same as SEP |
| 6 | Business Profile | NA | Obtain a business profile on the letter head of the proprietorship/ partnership firm /company /HUF/LLP |
| 7 | Business Reference – recommendatory | At least 2 references.Credit Manager to decide the parties. | Same as SEP |
| 8 | Power of attorney | NA |
|
| 9 | Home Loan Repayment track record (RTR)/Proof wherever Applicable | Same as Salaried Individuals | Same as Salaried Individuals |
| Rate of Interest for Home Loan | 13% |
| Processing Fee (Non-refundable) | Maximum 2% of the loan amount. |
| Documentation Charges | Upto Rs. 10,000. |
| Cheque dishonour Charges | Rs. 750/- per instance |
| Charges for Copy of any Document | Rs. 500/- per instance. |
| Repayment Mode I Account swap charges | Rs. 500/- per instance. |
| Charges for Duplicate NOC I No Dues Certificate | Rs. 500/- per instance. |
| Charges for copy of CIBIL Report (to Customer who has availed Loan I Overdraft from us) | Rs. 50/- per instance. |
| Charges specific to Term Loans: | |
|---|---|
| Prepayment Charges | No prepayment / foreclosure is allowed till the lapse of Lock in Period of 6 months after EMI Commencement. |
| After the lock – in period, part prepayment of minimum Rs.25,000/- and maximum upto 25% of outstanding Loan Amount can be made without any prepayment charges every 6 months. The minimum period between any two prepayment shall be at least 6 (six) months. | |
| For any Part Prepayment in excess of 25%, 4% of the excess prepayment Amount shall be charged as Prepayment Charges. | |
| For Full Prepayment any time after the Lock-in-Period, Prepayment charges shall be 4% of the Foreclosure Loan Amount plus Amounts prepaid during the last 12 months. | |
| Substitute Interest (Penal Interest) | 2% p.m. compound monthly on the Amount Due but unpaid from the date of the Amount falling Due till the Date of actual Payment. |
| Collection Charges (in case of Default) | 30% of Cheque / instrument Dishonour Charges plus Substitute interest. |
