Home Loan Eligibility Criteria and Documents Required

Home Loan Eligibility & Documents

Things to consider before applying for a loan

Fulfilling the dream of owning a home is now made simple with Poonawalla Home Loan. Our easy and hassle-free application process, simplified and minimum documentation, along with easy eligibility criteria process, enables you to get quick home loan approvals.

Know your Eligibility Criteria

	Salaried Individuals	Self-Employed Individuals	Firm / Company
Eligible Borrowers	Government / Semi government / PSU / Private/MNC companies/ Proprietorship/Partnership firms	Proprietor / Partners / Directors Self Employed Professionals like Chartered Accountant, Company Secretary & Doctors	Partnership or Private Limited companies engaged in Manufacturing, Servicing or Trading
Age	Applicant must be of minimum of 21 years at the time of loan application and should be maximum of 65 years or the retirement age, whichever is earlier.	Applicant must be of minimum of 21 years at the time of loan application and should be maximum of 65 years at loan maturity.	Proprietor / Key Partner / Key Director should be of minimum of 25 years at the time of loan application and should be of maximum of 65 years at loan maturity.
Income	Net monthly take home salary should be ₹20,000	Gross annual income should be of minimum ₹3 Lakhs	Annual turnover should be a minimum of ₹10 Lakhs
Experience / Vintage	Minimum One year	Minimum Two years in current Business /Profession	Business stability / Vintage of minimum Three years in the same business.
Citizenship	Individuals with Indian Citizenship	Individuals with Indian Citizenship	Proprietor / Partners / Directors with Indian Citizenship

Documents Required for Home loan

	Salaried Individuals	Self-Employed Individuals	Firm / Company
Identity Documents	PAN Card Aadhaar Card Passport (Not Expired) Driving License with Photo Voter’s Identity card issued by the Election Commission of India Job Card issued by NREGA duly signed by an officer of the State Government	PAN Card Aadhaar Card Passport (Not Expired) Driving License with Photo Voter’s Identity card issued by the Election Commission of India Job Card issued by NREGA duly signed by an officer of the State Government	Firm/Company PAN Card, GST Registration Certificate (If applicable) and Other Applicable Registration KYC of Partners / Directors PAN Card and Aadhaar Card
Address Proof	Aadhaar Card Passport (Not Expired) Driving License with Photo Voter’s Identity card issued by the Election Commission of India Job Card issued by NREGA duly signed by an officer of the State Government Letter issued by the National Population Register containing details of name and address	Aadhaar Card Passport (Not Expired) Driving License with Photo Voter’s Identity card issued by the Election Commission of India Job Card issued by NREGA duly signed by an officer of the State Government Letter issued by the National Population Register containing details of name and address	Electricity bill for owned premises Rent agreement for Rented premises Passport for Partner / Directors
Income Documents	Latest 3 months salary slip Form 16	Income Tax Returns along with computation for latest 2 years Profit/Loss statement and balance sheet for the latest 2 years	Income Tax Returns along with computation for the latest 2 years Profit/Loss statement and balance sheet for the latest 2 years GST Returns
Bank Account Statement	Latest 6 month’s bank statement evidencing salary credits.	Operative bank account statement for the latest 6 months.	Operative bank account statement for the latest 6 months.
Property Documents	If already finalised along with legal & technical clearance of the property.