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Home Loan Eligibility Criteria :-
Buying a home / house is one the biggest achievement in our life. Owing your own house is one the major sign of success in our life. As we know that the individuals income ratio is increasing day by day and long with that the property prices is also increasing day by day.
Today almost every bank and the financial institution are offering Home Loan. But before that we need to understand What is exactly is a Home Loan..?
“A Home Loan is a contract between a borrower & lender that allows someone to borrow & lender that allows someone to borrow money to buy a house / home / apartment / or any other liveable Property.”
| Sr. No | Particulars | Criteria |
|---|---|---|
| 1 | Age | 21 Years to 60 Years |
| 2 | Loan Tenure | 60 to 360 Months (5 to 30 Years) |
| 3 | Rate of Interest | Starts from 8.35 % |
| 4 | Prepayment / Foreclosure | N.A. |
| 5 | Processing Fee | As Per bank Scheme |
Home Loan Documents :-
| Sr. No | Documents | For Salaried | For Self Employed |
|---|---|---|---|
| 1 | Photos | 2 Photos of App & Co Applicant | 2 Photos of App & Co Applicant |
| 2 | ID Proof | Pan Card & Aadhar Card | Pan Card & Aadhar Card |
| 3 | Address Proof | Passport / Electricity Bill / Registered Rent Agreement / Index II | Passport / Electricity Bill / Registered Rent Agreement / Index II |
| 4 | Income Proof | Last 6 Months Salary Slip | Last 3 Years ITR |
| 5 | Bank Statement | Salary Credited bank A/C statement for last 6 months | Last 1 year banking of current & Saving Account |
| 6 | ITR / Form no 16 A | Last 2 Years | N.A |
| 7 | GST Returns | N.A | Last 2 Years |
| 8 | Employment / Business Proof | Appointment Letter / Last Increment Letter | Shop Act licence/ MOA/ AOA/ Partnership Deed |