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 Housing Finance

Documents required for Home Loans
Salaried Individuals
  • Salary slip/Form 16 A.
  • A photocopy of the first and last pages of Ration card or copy of PAN/Telephone/Electricity bills.
  • A photocopy of Investments (FD Certificates, Shares, any fixed asset etc. or any other documents supporting the financial background of the borrower.
  • A photocopy of LIC policies with the latest premium payment receipts (if any).
  • Photographs (as applicable).
  • A photocopy of bank statement for the last six months.
Self-Employed/Businessmen
  • A brief introduction of Business/Profession.
  • Balance Sheet, Profit and Loss account and statement of income with Income Tax returns for the last 3 years certified by a CA.
  • A photocopy of Advance Tax payments (if applicable).
  • A photocopy of Registration Certificate of estatblishment under shops and Establishments Act/Factories Act.
  • A photocopy of Registration Certificate for deduction of Profession Tax (if applicable).
  • Bank statements of Current and Saving accounts for the last 6 months.
  • A photocopy of Certificate of Practice(if applicable).
  • A photocopy of any bank loan (if applicable).
  • A photocopy of the first and last pages of the Ration card or a copy of PAN/Telephone/Electricity Bills.
  • A photocopy of LIC policy (if applicable).
  • A photocopy of investments (FD Certificates, Shares, any other fixed asset).
If a flat is purchased from the builder
  • Original copy of your agreement with the builder.
  • 7/12 extract or property register card of the land under construction.
  • Index II extract of your agreement with the builder.
  • Copy of N.A. permission for the land from the collector.
  • Search and title report (with the details of documents) for the last 30 years.
  • Development agreement between the owner of land and the builder.
  • Copy of order under the Urban land Ceiling Act.
  • Copy of building plans sanctioned by the competent authority.
  • Commencement certificate granted by Corporation / Nagar Palika.
  • Building completion certificate(if available).
  • The latest receipts of taxes paid.
  • Partnership deed or memorandum of association of the builders firm.
If the property is being purchased is in a Cooperative Society
  • Original share certificate of the Society.
  • Allotment letter from the society in your name.
  • Copy of the lease deed, if executed .
  • Certificate of the registration of the society.
  • Copy of the byelaws of the society.
  • No objection certificate from the society.
  • 7/12 extract or property register card in the society's name.
  • Copy of N.A permission for the land from the collector.
  • Search and title report(with the details of documents) for the last 30 years.
  • Copy of order under the Urban Land ceiling Act.
  • Copy of the building plans sanctioned by the competent authority.
  • Commencement certificate granted by Corporation / Nagar Palika.
  • The latest receipts of taxes paid.
  • Original Agreement to assign / Deed of assignment.
If constructing on own land
  • Original sale deed of land and extract of Index II.
  • 7/12 extract or property register card in your name.
  • Copy of N.A. permission for land from the collector.
  • Search and title report (with the details of documents) for the last 30 years.
  • Copy of order under Urban Land Ceiling Act.
  • Copy of the building plans sanctioned by the competent authority.
  • Building permission granted by Corporation / Nagar Palika.
  • The latest receipts of taxes paid.
  • Estimate of cost of construction certified by the architect.
Interest Rates
 
Finance Institution Loan Period
(in years)
Fixed EMI per Lakh(Rs) Floating EMI per Lakh(Rs)
 
Bank of Baroda Up to 5 9.00 2076 8.00 2028
6 to 10 9.50 1294 8.50 1240
11 to 15 10.00 1075 8.50 980
16 to 20 10.00 965 8.50 883
 
Bank of India Up to 5 7.50 2004 8.50 2051
6 to 10 8.00 1213 9.25 1280
11 to 15 8.50 980 9.25 1059
16 to 20 8.50 868 9.25 915
 
Bank of Maharashtra Up to 5 - - 8.50 2051
6 to 10 - - 9.25 1280
11 to 15 - - 9.25 1059
16 to 20 - - 9.25 915
    
HDFC Up to 5 8.75 2064 7.75 2013
6 to 10 8.75 1250 7.75 1200
11 to 15 8.75 996 7.75 942
16 to 20 8.75 880 7.75 821
 
ICICI Bank Up to 5 8.50 2052 8.00 2028
6 to 10 8.50 1240 8.00 1214
11 to 15 8.50 985 8.00 956
16 to 20 8.50 868 8.00 837
 
LIC Housing Finance Up to 5 9.00 2076 8.00 2028
6 to 10 9.00 1237 8.00 1200
11 to 15 9.00 1015 8.00 956
16 to 20 9.00 900 8.00 836
 
PNB Housing Finance Up to 5 8.00 2004 7.50 2070
6 to 10 8.25 1201 7.75 1320
11 to 15 8.50 942 7.75 1090
16 to 20 8.50 821 7.75 990
 
Standard Chartered Bank Up to 5 9.75 2113 8.25 2040
6 to 10 9.75 1308 9.00 1237
11 to 15 9.75 1060 9.00 1015
16 to 20 9.75 919 9.00 900
    
State Bank of India Up to 5 8.50 2052 8.00 2028
6 to 10 9.00 1267 8.50 1240
11 to 15 9.00 1014 8.50 985
16 to 20 9.25 915 8.75 884
 
UTI Bank Up to 5 9.75 2112 7.75 2016
6 to 10 10.25 1335 8.00 1213
11 to 15 10.75 1121 8.00 956
16 to 20 10.75 1015 8.00 836
This list is indicative, not exhaustive.
Disclaimer: Information given above is deemed reliable but not guaranteed. All interest rates must be independently verified with the HFCs/Banks.

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