Documents Required for Loan:-
1. Identity and Address Proof
Passport, driver’s license, or national ID card.
Utility bills, rental agreement, or voter ID for address verification.
2. Income Proof
For Salaried Individuals:
Salary slips (last 3-6 months).
Bank statements showing salary credits (last 6 months).
Form 16 (tax statement) or W-2 (in the U.S.).
For Self-Employed Individuals:
Income Tax Returns (ITR) for 2-3 years.
Profit and loss statements, balance sheets (certified by a CA if required).
Bank statements (last 6-12 months).
3. Property Documents
Sale agreement or builder-buyer agreement.
Title deed or property ownership documents.
No Objection Certificate (NOC) from the housing society or builder.
Approved building plan and land records.
Property valuation report (often arranged by the lender).
4. Other Documents
Loan application form with passport-sized photographs.
Credit report (sometimes obtained directly by the lender).
Proof of down payment (e.g., bank statement or receipt).
Employment verification (e.g., appointment letter, business license).
5. Additional Requirements (if applicable)
For co-applicants: Similar identity, income, and address proofs.
For non-residents: Visa, passport, and overseas income proof.
Application Process (Brief Overview)
Research Lenders: Compare interest rates, fees, and terms from banks or online platforms.
Pre-Approval: Submit basic details to get an estimate of how much you can borrow.
Submit Documents: Provide all required paperwork for verification.
Property Valuation: Lender assesses the property’s worth and legal status.
Loan Approval: Once approved, sign the loan agreement and pay processing fees.
Disbursement: Funds are released to the seller or builder, and repayment begins.
KYC Documents – Identity proof, address proof, and PAN card of the promoters and business.
Business Registration Proof – Certificate of incorporation, partnership deed, or GST registration.
Project Report – A detailed business plan with feasibility study, market analysis, and revenue projections.
Financial Statements – Balance sheets, profit and loss statements, cash flow projections, and tax returns for the past 2-3 years.
Bank Statements – Recent six months’ bank statements of the business.
Collateral Documents – Ownership proof and valuation report of assets offered as security.
Government Approvals – Necessary licenses, environmental clearances, and legal compliance certificates.
The documentation process ensures lenders verify your identity, income, and property details. Commonly required documents include: