The housing market in India has bloomed drastically in the past decade. Given this boom, the home loan industry has become the most popular form of loan for a middle class buyer. 

The Basic requirements:
Banks and other financial institutions have various rules concerning this factor. These rules may differ from institution. However, the very basic requirements are as follows:

  • Have a fixed, dependable source of income (employed/ self-employed).
  • An acceptable financial record extending to at least 6 months of active banking
  • The age limit of 21-60 years of age if employed, or 21-65 years of age if self employed.
Document Salaried Person Self Employed Professional Self Employed Non Professional
Application form with photograph duly signed  ✔  ✔
Identity, residence and age proof (KYC)  ✔  ✔
Last 6 months bank statements  ✔  ✔  ✔
Last 3 months Salary-slips  ✔ - -
Processing fee cheque  ✔  ✔
Form 16 / Income Tax Returns  ✔ - -
Proof of business existence (Trade License etc.) - -
Business profile - -  ✔
Education qualification certificate -  ✔  ✔
Last 3 years Income Tax Returns with
computation of Income
-  ✔
Last 3 years CA Certified / Audited Balance
Sheet and Profit & Loss Account





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