- PLOT LOAN/LAND LOAN
- CONSTRUCTION LOAN
- FLAT/VILLA PURCHASE FROM BUILDER
- BALANCE TRANSFER
- TOP UP
- LOAN AGAINST PROPERTY(LAP)
- LEASE RENTAL DISCOUNTING(LRD)
- SELF EMPLOYED PROFESSIONAL/SELF EMPLOYED NON PROFESSIONAL
- NON RESIDENT INDIAN( NRI)
Checklist for Salaried
- Passport size Photograph of applicant and co-applicant.
- Age/Address/sign proof of both applicant and co-applicant, PAN CARD COPY OF BOTH.
- Residential address proof, Relationship proof of applicant and co-applicant.,
- Residence telephone bill.
- 3 Months pay-slip latest.
- Latest 6 months updated bank statement of salary a/c with bank seal and signature (internet downloaded statements are not acceptable).
- Latest Form-16 latest 2 years
- Processing fee cheque
- Any loans (Repayment Track Record Required)
Kindly note all the photocopies should be self-attested by respective applicants and co-applicants.
Checklist for SENP
Check list for SELF EMPLOYED PROFESSIONAL/SELF EMPLOYED NON PROFESSIONAL:
- Application form duly filled & signed by App. & Co App.
- Pass port Size Photograph of App. & Co- App.
- AF Cheque from current/SB operating bank A/c ( Fee i.e. Adm Rs 0.5%, + 12.36% Service Tax )+(500 +service Tax)
- ID, Signature, Age Proof
- Residence Address Proof & Office Address Proof
- Business Profile on the letter head of the company or business entity
- Copy of CST/ST/VAT Registration Certificate
- Audited Report & ITR of Latest 3 yrs. Both Individual n Firm (attested by the C.A.)
- Certificated Balance Sheet, Profit & Loss A/C with (schedules) Both Individual n Firm
- For the company (i.e.Partenership, Pvt. & Ltd only)
A) Form 32 B) List of directors on the letter head (attested by the C.A) C) Memorandum of Articles & Articles of associationD) Share holding pattern of the directors (attested by the C.A.) E) Board resolution from authorized signature for loan purpose F) Certificate of incorporation G) Annual return of the company H) Partnership Deed
- Bank statement for last 06 Months from Current A/c
- Bank statement for last 06 Months from S.B A/c
A) RTR for existing loan ( if any ) B) Companies Bank A/C details C) Other Loan Sanction Letter Copy NOTE : All Documents to be SELF ATTESTED by the Applicant and Co applicant
Checklist for NRI
Checklist for NRI: Personal details documents
- 1 photograph of each applicant (applicant & co-applicant).
- Valid passport copies for all the applicants.
- Valid visa copies for all the applicants + Permanent Residence Card if applicable.
- Admin fee cheque of 0.5% of the loan amount from local NRE account.
- Power of Attorney document as per our format duly signed by all the applicants.
- Age proof and Signature proof for both Applicant & Co-applicant. (Passport Copy)
Please Note: ID and overseas address proof has to be attested by the Indian Embassy (including the GPA) Financial details documents for salaried individuals :
- Copy of current appointment letter, current salary earned (CTC) and designation held in the company and Employer ID Card copy.
- Relieving Letter from previous company..
- Last 6months salary slip.
- Last 6 months bank statements clearly mentioning salary credits in the account up to date.
- Last 6 months bank statement from local NRE account up to date.
- W2 form or Tax Returns(If any)
- Credit Report
- Processing fee cheque
Please Note: Co-applicant’s income can be considered for enhancing your loan eligibility or increasing your loan amount. Please ensure that all financial documents of co-applicant(s) are attached with your India Home Loan Application.
How is loan repaid?
All loan repayments are done via equated monthly installments (EMI).
What is an EMI?
An EMI refers to an equated monthly installment. It is a fixed amount which you pay every month towards your loan. It comprises of both, principal repayment and interest payment.
When does repayment start?
EMI payments start from the month following the month in which the full disbursement has been made.
What is Pre-EMI interest?
In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.
When do I pay PEMIs?
The first PEMI is payable by cheque by the end of the month in which the disbursement is made and each subsequent PEMI at the end of every month till the commencement of EMI.
How is Pre-EMI calculated?
Formula: PEMI / Month = (Amount Disbursed * Rate of Interest) / 12 . It is nothing but you need to pay a simple interest for the amount disbursed