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Documentation for HOME LOANS by Banks, Financial Institutions

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Documentation for HOME LOANS by Banks, Financial Institutions

Last updated: January 20 2011
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  • Documentation for HOME LOANS by Banks, Financial Institutions

    Can anyone tell me what documents are required by the bank from the builder so that they start giving the loans to we the customers?

    This could help us know why the loans remains pending from the bank for longer time.
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    Last edited December 9 2014, 09:44 AM.
  • #2

    #2

    Re : Documentation for HOME LOANS by Banks, Financial Institutions

    Documentation for HOME LOANS by Banks, Financial Institutions

    Hello all,

    In my last visit to Mumbai, I asked a ICICI home loan representative to give me a list of documents required for getting a Home Loan, that list is as below:

    Sir,
    Following is the list of Documents Required for Sanction of the Loan.

    1) Passport Size Colour Photo with Sign (Applicant & Co – Applicant)
    2) Age, Signature & photo ID proof ( PAN card, Pass Port , Driving License copy etc )
    3) Indian Residence Address Proof (Pass port Tele. Bill, Electricity Bill)
    5) Latest 4 months salary slip
    6) Latest 6 months Bank statement (Salary A/c) & NRI or NRE A/C
    7) Appointment Letter / Contract Copy (Current)
    8) Complete passport Copy & Visa Copy.
    9) Qualification Certificate
    10) Power of Attorney (Bank's Format is attached)
    11) Employment ID Copy
    12) Admin. Charges Fees Cheque in favour of ICICI Bank Ltd from NRI A/c

    All document should be self attested.

    If any query please do call me
    After this I have stopped thinking of taking a loan from any bank.

    Do all the banks ask this much documents for home loan?

    Which bank asks least documents for home loan?
    Last edited January 12 2011, 08:22 PM.

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    • #3

      #3

      Re : Documentation for HOME LOANS by Banks, Financial Institutions

      Most Banks have almost similar requirements, it is pretty cumbersome, but they have to adhere to some norms .

      If looking to do a scam, try some small cooperative banks . Just joking, take it in the right spirit .
      Last edited January 12 2011, 08:32 PM. Reason: typo
      Please read IREF rules | FAQ's

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      • #4

        #4

        Re : Documentation for HOME LOANS by Banks, Financial Institutions

        One of my friend has just got a home loan from HDFC, she is working with a MNC and residing in Delhi.

        Here is what she submitted

        - Application Form
        - 2 passport size photograph
        - 3 months salary slip
        - 6 months Bank Statement of the salary account
        - Letter of Allotment of the Flat
        - Id proof - Pan Card in this case
        - Rent agreement as - Residence proof
        - Form 6 - for last 3 years
        - Demand Notes and Payments receipt from the builder
        - Company profile
        - processing fee

        Once the loan was sanctioned more documents followed

        - Tripartite Agreement duly signed by all three parties
        - Permission from the Builder for the right of first mortgage in favor of bank

        There are few other minor documents required which differs from bank to bank

        Please correct if I missed out something - as I have never gone for a loan - as I don't like to leverage at all

        Rohit

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        • #5

          #5

          Re : Documentation for HOME LOANS by Banks, Financial Institutions

          Required Documents by Axis Bank :

          SalariedClass:
          · Latest Original salary certificate /3 months salary slip
          · Labor contract / employment contract copy
          · Labor card / work permit copy / Identity card copy
          · Passport and visa copy
          · Local bank statement for latest 6 months
          · NRE a/c statement for last 6 months
          · Loan details for last 1 yr. (if any)
          · Processing Fee cheque 10000/- INR plus Service Tax 10.30%
          · Tenancy Contract Copy
          · Two Passport size photograph
          · POA as per the format
          · Require Original passport/Driving License for verification

          Comment

          • #6

            #6

            Re : Documentation for HOME LOANS by Banks, Financial Institutions

            Documents for Self Employed by HDFC :



            • Duly filled up Application form- Attached herewith
            • Last three years Audited Financials
            • Memorandum of Understanding
              • Amendment to MOU, if any
              • Side Agreement, If any
            • Trade License Copy
            • A detailed Company Profile
            • Bank Statement
              • Company Bank Statement for 3 months
            i. Details of facility from the banks, if any
              • NRE A/C statement for last 6 months
              • Overseas Bank Statement for 6 mont
              • Net Worth Statement
            • Processing Fee cheque
            • Liability Letter
            • Tenancy Contract-home
              • If current residence self owned then ----- bill etc…
            • Passport Copy- self attested
            • Certificate from Auditors for the funds withdrawn in the last 3 years

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            • #7

              #7

              Re : Documentation for HOME LOANS by Banks, Financial Institutions

              RBI has a standard set of guidelines for Home loans, we need to meet that . Some banks, do overlook some minor points, but overall it is quite similar, unless u have a some kind of a personal setting with the concerned bank & the Bank Manger is ready to forgo his job & benefits & face an inquiry, for u .
              Please read IREF rules | FAQ's

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              • #8

                #8

                Re : Documentation for HOME LOANS by Banks, Financial Institutions

                This is what I received from HDFC

                Required Documents for NRI:
                Salaried Class:
                • Labour contract / employment contract copy
                • Labour card / work permit copy / Identity card copy
                • Passport and visa copy
                • Latest Original salary certificate / salary slip
                • Local bank statement for latest 6 months
                • NRE / NRO a/c statement for last 6 months
                • One passport size photo
                • Profile of the company
                • Tenancy Contract Copy
                • Copy of degree/qualification certificate
                • Require Original passport for verification
                • Copies of Investment proofs like FDs,MFs, Insurance etc
                Processing Fee cheque in Dirhams

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                • #9

                  #9

                  Re : Documentation for HOME LOANS by Banks, Financial Institutions

                  Originally posted by MANOJa View Post
                  RBI has a standard set of guidelines for Home loans, we need to meet that . Some banks, do overlook some minor points, but overall it is quite similar, unless u have a some kind of a personal setting with the concerned bank & the Bank Manger is ready to forgo his job & benefits & face an inquiry, for u .
                  I have seen "sab chalta hai for less than 20 lakhs "

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                  • #10

                    #10

                    Re : Documentation for HOME LOANS by Banks, Financial Institutions

                    Yes, it was somewhat true, few months back, try it now .
                    Please read IREF rules | FAQ's

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