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Checklist of Required Documents for Home Loan in India

home loan

Getting a home loan in India is not as difficult as it is believed to be. Most lenders and banks have free online tools that can help you understand your home loan eligibility, documentation requirement, and what your EMI would look like when you get the loan. The crucial aspect of all these is to submit the right documents with your home loan application so that the loan can be processed faster.

Taking a home loan can undeniably be a significant decision. It comes with responsibilities and commitment. Thus, it is incredibly crucial that you learn each aspect of taking home loans depending on your economic interests.

Basic Requirements for a Home Loan

When applying for a home loan, the lender or bank will first assess the applicant’s loan requirement against the property to be purchased and the borrower’s ability to pay back the loan. To determine the loan eligibility, the applicant needs to meet the minimum eligibility criteria, such as age, which should commonly be between 21 to 70 years; whether salaried or self-employed; and if they are a resident of India or NRI. This eligibility can be proven by submitting a number of documents to the bank.

Home Loan EMI Calculation:

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]


EMI stands for equated monthly installment.

P denotes the principal loan amount, which is borrowed as a loan.

R is the interest rate (fixed or floating).

N denotes the repayment period or the number of installments you desire to borrow.

When calculating the house loan EMI, consider the selected lenders’ lowest interest rate and input the rest of the necessary figures appropriately.

Calculate EMI using the principal loan amount, interest rate, and loan period. The majority of lenders provide home loans with interest rates starting from 6.75 percent.

Must-Have Documents for a Home Loan

When applying for any home loan, the borrower initially needs to submit various documents to establish their KYC as well as the validity of the property they wish to purchase or reconstruct. These documents also help the lender determine the loan repayment ability of the applicant.

While all banks have specific document requirements for a home loan, here are some commonly required documents to apply for a new home loan in India.

  • Loan application form
  • Photographs, preferably passport-sized
  • Identify proof, such as Aadhar or PAN card
  • Residence proof, such as the most recent electricity bill
  • Bank account statement or passbook for the last 6 months
  • Applicant’s signature verification from the bank
  • Liabilities statement, such as another existing loan
  • Personal assets details, such as cars
  • Property documents for any property owned
  • For salaried individuals: 
    • Salary certificate from employer
    • Form 16 or Income Tax Returns for the past 2 financial years
  • For self-employed professionals: 
    • IT Assessment Orders of the last 3 years
    • Challans as proof of Advance Income Tax payment
  • For self-employed businessmen: 
    • Income Tax returns or Assessment Orders copies of the last 3 years
    • Challans as proof of Advance Income Tax payment

If you are an NRI applicant, this document list will look a bit different for you. NRI applicants will need the following documents.

  • KYC documents
  • Salary certificate from employer stating in English the name (as per passport), designation, passport number, date of joining, and latest salary
  • Latest Income Tax Returns, for applicants filing IT, returns in the country
  • Copy of passport page showing the residence visa
  • Proof of employment by the government of the residing country, such as a work permit or labour contract.
  • Last 6 months’ NRO/NRE bank statement
  • Documents related to the property containing cost estimates from an Indian architect or engineer

Can I get a home loan without any documents?

Banks or lenders will need all the basic documents, such as identity proof and income proof. If the applicant has a previous relationship with the lender, like an existing loan, then they might not need to submit all the documents for the home loan application. However, there are still certain necessary documents the bank will need to process your application.

Can I get a home loan without property documents?

When applying for a new home loan, banks need the following property documents to process your loan application:

  • Deed of Sale or Sale Agreement or Share Certificate in case of a cooperative society
  • Receipts for taxes paid for building and land, certificate of possession, and certified sketch of the location of the property from revenue authorities
  • Receipts of advance payments for the flat purchase.

If your property is under construction, you need not submit property documents at the time of the home construction loan application. However, you need to register the property once the construction is complete and the completion certificate is obtained.


A home loan can be of different types, such as a home construction loan or a renovation loan. Each home loan type is processed differently and has specific document requirements. To make your home loan process simple and hassle-free, make sure that you have the commonly-required documents ready when applying for the loan.

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