“Different types of documents
needed for loan approval”
Each lender has their own requirements for the set of documents to be submitted with loan applications. Please check with individual lender for the exact set of documents. Some of the documents generally required by various lenders are as follows:
- Completed Loan Application
- Passport size photographs
- Proof of Identity: PAN Card/ Voters ID/ Passport/ Driving License etc.
- Proof of Residence: Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID etc.
- Statements of Bank Account/ Pass Book for last 6 months to 1 year
- Statements of any investments showing financial background of borrower (fixed deposits, shares, fixed assets such as land etc.)
- Sale Deed
- Agreement for Sale
- Copy of the approved plan for the proposed construction / extension / addition
- Detailed cost estimate / valuation report from Bank’s Panel Chartered Engineer / Architect
- Allotment letter of Co-operative Housing Society / Apartment Owners’ Association / Housing Board / NOC from the Society / Association / Builders / Housing Board
- Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary
Additional Documents for Salaried Persons
- Salary Certificate & Form No. 16
- Recent Salary Slips with all deductions
Additional Documents for Non-Salaried Persons
- IT Returns filed for last several (2 or 3 typically) years
- Proof of business address
- Document describing nature of business, year of establishment, type of organization etc.
- Balance Sheet and Profit & Loss Statements for the past several (2 or 3 typically) years