A home loan is a secured loan that helps customers to purchase a desired property. You make a specific EMI payment every month to repay the loan. The property is regarded as a security by the lender. In case the borrower is not able to pay off the loan, the legal rights of recovering the loan amount are with the lending company.
Common documents required for Housing Loan EMI Calculator
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KYC Documents
Proof of Identity & Address
Income Documents
Proof of Income
-
For Salaried
- Last 3 months salary slips
- Form 16
- Bank statements from the previous six months and pay stubs
- Documentation of the collateralized property
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For Self Employed
- ITR for the previous two years, with computation
- CA audited financials wherever applicable
- 6 months primary bank statement
Property Documents
Land & property related documents
Property-Related Documents
Stamped agreement of the sale / Sales Deed or the letter of Allotment
NOC from the builder / housing society
Possession Certificate
Detailed Construction cost estimation
Bank Account Statement
In case of Constructed Apartment - Occupancy Certificate
Co-applicants
Co-applicant is mandatory. Additionally, Woman co-applicant is mandatory in certain cases
Co-applicant can be spouse or any first blood relative like parents, siblings, children who have attained age of maturity (s.t income-ownership grid)
All co-owners of property should be on loan structure
Friends cannot be co-applicants (allowed only if they are coming in the capacity of Partners / Directors / Shareholder)
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What are the documents needed for home loan?
Although the loan application may appear challenging, with preparation, you can easily navigate through it without any problems. The list of documents required for home loan depends on the applicant's profession or occupation.
What are the documents needed for home loan?
Although the loan application may appear challenging, with preparation, you can easily navigate through it without any problems. The list of documents required for home loan depends on the applicant's profession or occupation.
-
Row 1
- Document Type
- For Self-Employed Individuals
- For Salaried Individuals
-
Row 2
- Photo ID Proof
- Aadhaar card / Pan card
- Aadhaar card / Pan card
-
Row 3
- Residence Address Proof
- Aadhar card
- Aadhar card
-
Row 4
- Office Address Proof
- GST Registration Certificate / Trade License / Partnership Deed / Import Export Code / SEBI Registration Certificate / Memorandum of Association / ROC Registration Certificate
- Not applicable
-
Row 5
- Income Proof
- P/L Account and Balance Sheet for the previous three years, ITRs of the last three years, bank account statement of business account
- Bank account statement of salary account, salary slip of the last three months, Form 16
Benefits of Getting Home Loan from Piramal Finance
When you get a home loan, you are creating an asset instead of taking on a liability like other loans. This asset in most cases will only appreciate with time. This makes taking a home loan quite advantageous.
You can Get your Dream house.
A home loan can turn your dream into a reality. It makes buying a house affordable.
Repay as per your Pocket
Home loans are quite flexible. You can choose a repayment term for as many as 30 years, making the monthly installments well within your reach. You can select an EMI according to your budget to repay the loan.
Tax Benefits
Considered to be the biggest tax-saving instrument, home loans allow you to save a great deal. Under Sections 24, 80C, and 80EEA of the Income Tax Act, you can claim up to INR 5 lakhs as a tax deduction.
Growth of your Assets
Your house is an asset that can offer you the highest appreciation benefits. Unlike a car, the value of this asset will not decrease because of depreciation.
Easy Procedures
With Piramal Finance, from your loan application to the payment journey, the procedures are easy-to-understand and transparent. Our dedicated customer care team offers you constant support whenever you need it. Even evaluating any specific documents required for home loan will your home loan process faster.
Types of Home Loans
A home loan has a much wider scope and not just buying a new house. There are various types of home loans:
Construction Loan
With a construction loan from Piramal finance, the perfect home for you is easily within reach...
Construction Loan
90% of Property Cost
Loan tenure up to
30 years
Interest rates starting at
9.50% p.a
Renovation Loan
With a Home Renovation Loan, you can keep your hard-earned savings and investments untouched and pay off...
Loan amount
₹ 5 Lakhs - 2 Crores
Loan funded up to
30 years
Interest rates starting at
9.50% p.a
Extension Loan
You may simply enlarge your own home in utmost comfort with a home extension loan from Piramal finance...
Loan amount
₹ 5 Lakhs - 2 Crores
Loan tenure up to
30 years
Interest rates starting at
9.50% p.a
Frequently asked questions
Wait until you have all the important papers before applying for a home loan if you are missing any. Applying without necessary documents may make you seem unprepared or financially unstable, which can harm your application.
If you are missing some documents, consider reaching out to our customer care executive to discuss your situation. They might offer flexibility or alternatives if you can demonstrate your ability to repay the loan and provide valid reasons for missing documentation.