Required Documents for Property in India
For Home purchase loan everyone has to submit application form along with the
required documents at first. The important documents are required for the bank at
the loan pre-approval stage. These documents may be varying from one category
people to another category people. There are some common documents required
for every one along with application form such as: Application form along with
passport size photograph signed by applicant.
Residence address proof, any one of the following has to submit: Passport, Ration
card, Telephone land line bill, Electricity bill, Driving license, Voters identity card,
Life Insurance Policy. Age proof, any one of the following documents has to submit:
Passport, Driving License, Voter’s identity card, Birth certificate, School leaving
certificate, LIC Policy or Premium receipt with applicant’s age, Letter from the
employer only from selected public limited companies stating the age of the
employee, Bank account statement copies for last six months.
Along with these above said common documents salaried employees has to submit
few more documents such as: Latest salary slip, Bank statements for last 3 months
salary account, Form 16, Latest income tax returns. If any self-employed person is
applying for Home loan they have to submit the documents such as: Income tax
returns, Details of total income, Balance sheet, the certification from chartered
accountant regarding to profit and loss account statements at for two years, any
other loan refund way record, and Property papers.
Some housing finance companies will ask for more documents for the loan security
purpose such as : Life insurance policies, Assurance of shares, Any National Saving
credentials, Mutual funds, Bank deposits, Any private or government recorded
investments. By submitting all these required documents then banks documents
bank will conduct verification whether the details submitted is correct or not. And
bank will inquire about financial status and about debits then they will decide
whether you are having eligibility or not for a loan for property in India. If the
bank finds that any of the information provided by you is incorrect and having
doubt on your repayment capacity then the loan application will be rejected.
For more information, please log on to www.keyaunty.com