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What are the Documents Required for a Home Loan?

27 Dec 2022,

05:00 PM IST

home loan

Home is the best feeling, the safest place, and a comfort zone for all of us. Owning a home is more than a dream come true. To make this wish a reality, we at Mahabank offer you Best Home Loan offer, with hassle-free processing.

Need for a home loan may vary from person to person. Many need a loan to buy a new home, whereas others need to extend or rebuild their current ones. Whatever your reason to avail a home loan, we at Mahabank can't wait to watch your family's joy when they move into their dream house.

Mahabank offers you the lowest Rate of Interest on Home loans in the country. Mahabank home loans can be used to buy land, build new houses, and renovate or expand existing homes. Getting a home loan from Bank of Maharashtra is simple, quick, and requires less paperwork. Avail higher loan amount with ROI starting from 8.00% onwards with Zero Processing Fee and No Hidden Charges.

Mahabank home loan requires the following documents:

  1. Complete & signed application form
  2. 2 passport-size photographs
  3. Proof of Identity
    • Aadhar Card
    • Election ID Card
    • Driving License
    • Pan Card
    • Passport
  4. Proof of Residence
    • Aadhar Card
    • Election ID Card
    • Electricity Bill
    • Telephone Landline Bill
    • Passport
    • Driving License

Additional Documents Needed For Salaried Persons:

  1. Last 3 months salary slips
  2. Copies of the past 2 years IT returns properly recognised by IT Dept/IT evaluation orders or Form 16 from the Employer
  3. Salary Bank Account statement for the last 6 months (in case of other Bank)

Property Documents:

  1. Payment receipts made for buying a residential unit
  2. Copy of design of the property/construction.
  3. Permission from authority for the construction of flat/house
  4. Permission from the authority under the Urban Land Ceiling & Regulation Act 1976
  5. Agreement of Sale Deed/Sale/cost estimate from registered Architect/Engineer of the property to be built.
  6. Concession letter from the Co-operative Society/Development Authorities/Builder etc

Additional Documents Needed For NRIs

  1. Copy of Visa stamped on the passport
  2. Continuous Discharge Certificate, if applicable
  3. Salary Certificate/Income Statement duly attested by Out Foreign Office
  4. Copy of Employment Contract & ID Card
  5. Overseas Bank Account Statements for the past 6 months
  6. NRE Bank Account Passbook/ Account Statement

Additional Documents for PIOs

  1. Copy of PIO card
  2. Passport with Indian nationality
  3. Parent's or Grandparent's Passports with details of being PIO

These are the key documents needed to avail a home loan in India. And it may vary from bank to bank, depending upon the purpose of the home loan you’re taking.

To make it more convenient for customers, Mahabank has online loan application process as well where-in you can upload the documents and receive an in-principle sanction letter.