Document Checklist for Loans

Document Checklist for Loans

The application for the home loan is a very simple procedure. Most banks offer a home banking facility wherein the bank’s executive visits you at a convenient time, at your home or office. He liaises between you and the bank, also suggesting schemes, added benefits, interesting insurance policies and educating you on the best rate of interest. However certain homework is essential about the interest rate offered by other banks for a comparative analysis and also enquiring about hidden charges in processing fees and penal interest.

Here’s a ready reckoner for the list of documents to avail home loans.



  • Photographs of recent nature. The number of photos specified by the bank.
  • Identification with photographs in the form of Election Identity Card/ PAN card/ valid driving license/ valid passport.
  • Form 16 with current employer. In case of change of job (in an assessment year) then it is necessary to submit Form 16 from both the employers.
  • Exact proof of address is done with Passport/ telephone bill/ electricity bill/ agreement of house rent in case of rental residence.
  • The salary slips of the past three or six months has to be submitted to the bank in original, which features the salary statement for the past six months.
  • The initial cheque for the processing fee favoring the bank has to be submitted for processing the loan.

In case, you wish to avail the loan with a co-applicant or the property is to be shared with a person, additional requirements on documentation are required to be furnished.


  • Photographs in the quantity specified by the bank.

  • Identification with photograph via a PAN card/ Election Identity card/ valid passport/ valid driving license.

  • Exact proof of address is done with Passport/ telephone bill/ electricity bill/ agreement of house rent in case of rental residence.

  • In case the loan is to be shared then all the above details of the salaried applicant is essential.


  • Income tax returns for the last three years.

  • Balance sheet of the company.

  • Profit and loss statement of the company.

  • Proof of age-related documents in the form of valid passport/ valid driving license/ accurate voters card/ birth certificate or the school leaving certificate.

  • Address proof in the form of Ration card/ House rent agreement/ electricity bill/ telephone bill and a valid passport.

  • Proof of office address, virtual address location.

  • Photo identity via PAN card/ election card/ valid driving license/ valid passport.

  • An introduction of the nature of business, branches, specified industries, credit or other loans applied or in process, staff strength, expansion plans in India or overseas or diversifying the business plan.

  • Personal qualification and other business of the applicant.

  • An updated bank statement for the past six months in the current as well as the savings account.

  • Partnership deed in case of a partnership account.

  • The initial cheque for the processing fee favoring the bank has to be submitted for processing the loan.


  • A complete set of past history of the agreement in the correct link.
  • The registration and stamp duty receipt.
  • A draft agreement.
  • Front and bank photocopy of share certificate/s.
  • Occupation certificate.
  • Commencement Certificate (CC).
  • Permanent Resident card copy in the form of voters or ration card.
  • Assessment Tax Receipt.
  • The latest maintenance bill.
  • The latest electricity bill.
  • No-objection certificate.


  • The development agreement
  • Power of attorney (in case)
  • The history of the title report
  • Title certificate
  • Sanctioned plan
  • NOC (No-objection certificate)
  • Approval to the builder as per ULC (Urban Land Ceiling and Regulation) act
  • CC (commencement certificate) and IOD (Intimation of disapproval)
  • A draft agreement

POA (Power of Attorney)


  • Authority letter as per the bank’s format has to be signed by all applicants.

  • The power of attorney document is specified by the bank’s format and full signatures of all the applicants is required.

NRI power of attorney


  • The NRI is not required to be physically present to formalise the loan application process. The POA can represent the NRI in this case and conduct all the formalities. The embassy forwards the documents to the NRI and hence the signatures are validated.

  • GPA or general power of attorney is mostly adopted by NRI to conduct their ongoings in India. The power of attorney has to be an Indian as the execution of loan formalities is easily authorized in a GPA.

NRI Guarantor


  • In case the loan guarantor resides abroad (NRI) then the following documents are essential.

    • Address proof of overseas includes the latest premium receipt on insurance/Utility bill like water or electricity/ valid driving license.

    • Visa copies and existing passport of the NRI guarantor.

Loan documentation is hassle-free with justified requirements from banks. Maidens with their new name, need to furnish name change affidavit in case their official name change is yet to be affected. In case the name change is in process, the bank will require a marriage certificate attested, marriage photograph and the name change application proof. It is prudent to preserve all old documents, balance sheets, bank accounts and updating your ration card as changes occur. Furnish recent photographs and make complete enquiries about fixed and floating rates before you finalize the ROI (rate of interest).

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Author: Austin Comments: 1 comment Date: 1 Jun 2008
Categories: Loan Tags: , , ,

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