Documents Required for Home Loan

Home Loan Documents List

Availing a Home Loan from one of the leading NBFCs, Bajaj Finserv is now easier and hassle-free. Opt for higher amounts up to Rs. 3.5 Crore to either construct a new home or buy a ready-to-move-in property. Simply meet the basic eligibility criteria and submit the minimum documents required for a Home Loan.

It is essential to submit all the documents required for the home loan updated and without any error. Below is a Home Loan documents list, based on employment status of individuals.

What are the Documents Needed for Salaried Applicants?

I. Online Application Form
Fill up the loan application form available online with accurate details such as type of loan, occupation, residing city, etc. Submit the same online once done.

II. Identity Proof
Provide any of the following KYC documents:

• PAN Card
• Aadhaar Card
• Driving License
• Voter ID Card
• Passport
• NREGA Job Card, etc.

III. Address Proof
Submit any of following documents as an address proof:

• Voter ID Card
• Aadhaar Card
• Driving License
• Passport
• Utility Bill, etc.

IV. Photograph
Provide your passport size photographs (preferably latest) to process the Bajaj Finserv Home Loan application.

V. Income Proof
You can either provide your latest salary slips as your proof of income or submit the Form 16. An employer issues Form 16 validating the deduction of TDS that is also deposited to the concerned authority on behalf of the employee (loan applicant in this case).
 

What are the Home Loan Documents Required for Self-Employed Applicants?

I. Online Application Form
Fill up the online application form of Bajaj Finserv Home Loan with necessary details as required. Submit once done.

II. Address Proof
Provide your following KYC documents as proof of address

• Utility Bill
• Voter ID Card
• Aadhaar Card
• Driving License, etc.

III. Identity Proof
KYC documents serve as your identity proof as well. Submit any of these:

• PAN Card
• Aadhaar Card
• Voter ID Card
• Passport, etc.

IV. Photograph
Submit your passport size photographs (preferably latest) along with all other documents.

V. Profit & Loss Statements
As a self-employed individual, you must submit profit & loss statements of your business for the previous 2 years.

VI. Bank Statements
Submit the updated statements of your bank account for the past 6 months.

VII. Proof of Business Vintage
According to home loan eligibility, make sure you are running the business for at least 5 years and provide relevant documents as proof.
Note: Applicants may also need to provide additional documents as per their individual conditions during the processing of loan application or verification process.
 

What are the Property Documents Required?

Besides the above, borrowers must provide the following property documents when availing home loans.

• Original Sale Deed
• Detailed cost estimate of the house’s construction
• Property’s Location Sketch
• Possession Certificate
• Receipts of building and land tax payments
• Receipts of advance payments towards an apartment purchase
• Original copy of NOC or No Objection Certificate from the builder or housing society, etc.

Keep all the documents updated and handy so that the loan processing is faster and hassle-free. Besides the documents, borrowers must meet all the home loan eligibility criteria to avail the funds successfully.

Some of the Eligibility Criteria are as follows:

1. Applicants must be within 23 to 62 years if they are salaried individuals. The age bracket for self-employed applicants is 25 to 70.
2. Applicants must be residing citizens of India, irrespective of their employment status.
3. They should meet the minimum income criteria according to their city of residing.
4. While 5 years is the minimum business vintage for self-employed applicants, salaried individuals should possess at least 3 years of work experience.

Addition to that,

• Try to keep your FOIR below 50% to increase your approval chances.
• Maintain a healthy CIBIL score of at least 750 to avail attractive Home Loan interest rate and other benefits.
• The minimum market value of the property must be Rs. 15 Lakh.

Use the Bajaj Finserv Home Loan Eligibility Calculator to compute the loan amount you are eligible for immediately. This online tool requires a few basic details to calculate the eligible amount.
 

When to Submit the Documents?

After you submit the accurately filled online form, wait for our representatives to get in touch and proceed with your application.
Next, book the offer by paying the online secure fee. Once done, you can submit all the scanned copies of essential documents needed online. Wait for the approval of your application post verification.
With Bajaj Finserv, enjoy the best deals on Home Loan with high-value top-up loan, balance transfer facility, online account management facility, part-prepayment, foreclosure, etc. We also come with a customised property dossier to help you through the financial and legal aspects of buying a property and gaining ownership.
Apply for a Home Loan with Bajaj Finserv online, and purchase the best property in the market as per your needs and capability.