Income Proof, Property Papers: List Of Documents Required To Avail SBI Home Loan

SBI Home Loan: To avail the home loan, customers need to have important documents such as income proof, property papers, account statements, identity cards, among others

Income Proof, Property Papers: List Of Documents Required To Avail SBI Home Loan

SBI Home Loan Interest Rates: India's largest lender has reduced the rate to 6.7 per cent

State Bank of India (SBI), the country's largest mortgage lender is offering home loans at an interest rate of 6.70 per cent and customers seeking affordable loans amid the festive season have an option to consider the first-of-its-kind credit score linked home loan. In a recent statement, the leading public-sector bank released a list of documents required for customers to avail the home loan. The home loan can be easily availed online and through the SBI's YONO platform. The important documents required to avail the SBI home loan are as follows:

-Employer Identity Card
-Loan Application: The completed loan application form duly filled in affixed with three passport size photographs
-Proof of Identity (any one): PAN /Driver's License/ Passport/Voter ID card
-Proof of Residence or Address (any one): A recent copy of electricity bill/telephone bill/ water bill/ piped gas bill or a copy of passport/Aadhar card/driving license

Property Papers:

  • Permission for construction (where applicable)
  • Registered agreement for sale (only for Maharashtra)/Stamped agreement for sale/Allotment letter
  • Occupancy certificate (in case of ready to move property)
  • Share certificate (only for Maharashtra), maintenance bill, electricity bill, property tax receipt
  • An approved plan copy (Xerox Blueprint) and a registered development agreement of the builder, conveyance deed (For the new property)
  • Payment receipts or bank account statement showing all the payments made to the builder or seller
     

Account Statement

  • The bank account statements of last six months for all the bank accounts held by the applicant
  • If any previous loan from other banks or lenders, then the loan account statement for the last one year

Income Proof for the salaried applicant/ Co-applicant/ Guarantor

  • Salary slip or the salary certificate of last three months
  • Copy of Form 16 for the last two years or a copy of IT returns for the last two financial years, acknowledged by the Income Tax Department.

Income Proof for A non-salaried applicant/ Co-applicant/ Guarantor

  • Business address proof
  • IT returns for the last three years
  • Balance sheet, profit and loss account for the last three years
  • Business license details (or equivalent)
  • TDS certificate (Form 16A - if applicable)
  • Certificate of qualification (for a C.A./ doctor or other professionals)