home loan eligibility criteria and documents required

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Attractive interest rates just
starting @ 9.50%* p.a.

Flexible-Repayment-Tenure

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Tenure

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up to ₹2.67 lakh*

Home Loan: Eligibility & Documents

Simple Requirements | Quick Approvals | Minimal Paperwork

Fulfilling your desire of owning a dream home is easy with Poonawalla Fincorp. Our lenient home loan eligibility terms and minimal need for documents makes accessing funds simpler than ever. We have optimised the experience to suit a variety of borrowers and have taken special care to ease access to housing finance.

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Home Loan Eligibility Criteria

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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 such as a Chartered Accountant, Company Secretary & Doctors
Partnership or Private Limited companies engaged in Manufacturing, Servicing or Trading
Age Applicant must be a minimum of 21 years of age at the time of loan application and should be a maximum of 65 years or the retirement age, whichever is earlier, at loan maturity. Applicant must be a minimum of 21 years of age at the time of loan application and should be a maximum of 65 years at loan maturity. Proprietor / Key Partner / Key Director should be a minimum of 25 years at the time of loan application and should be maximum of 65 years at loan maturity.
Income Net monthly salary should be Rs.20,000 Gross annual income should be of minimum Rs.3 lakh Annual turnover should be a minimum of Rs.10 lakh
Experience / Vintage Minimum 1 year of work experience Minimum 2 years in current business / profession Business stability / vintage of minimum 3 years in the same business
Citizenship Individuals with Indian citizenship Individuals with Indian citizenship Proprietor / Partners / Directors with Indian citizenship
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Documents Required For A Home Loan

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Salaried Individuals Self-Employed Individuals Firm / Company
Identity Documents
  • PAN Card
  • Aadhaar Card
  • Passport (Valid)
  • 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 (Valid)
  • 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 (Valid)
  • 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 (Valid)
  • 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
  • Salary slip for the past 3 months
  • Form 16
  • Income Tax Returns along with computation for latest 2 years
  • Profit/Loss statement and balance sheet for the past 2 years
  • Income Tax Returns along with computation for the latest 2 years
  • Profit/Loss statement and balance sheet for the past 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.

*The above-mentioned list of documents for a home loan is indicative. Additional documents may be required during loan processing.

Who is eligible for the Poonawalla Fincorp Home Loan?
Our home loan is available to 3 types of customers, which include salaried individuals, self-employed persons, and firms/companies. Do note that each type of borrower has to meet a specific set of home loan eligibility criteria to receive approval.

Where can I check the home loan eligibility criteria?
The detailed home loan eligibility criteria for all borrowers are clearly listed on our dedicated webpage. You can find it by visiting the official Poonawalla Fincorp Home Loan website and clicking on ‘Eligibility & Documents’.

Can I avail a home loan as a senior citizen?
Yes. We do offer home loans to borrowers over the age of 60 years.

How much annual income is required to get a Poonawalla Fincorp Home Loan?

    Each borrower type has a specific income requirement, which is as follows.
  • Salaried persons: Minimum annual income of Rs.2.4 lakh
  • Self-employed persons: Minimum annual income of Rs.3 lakh
  • Firms/Companies: Minimum annual turnover of Rs.10 lakh

What are the income-specific home loan documents required for a salaried borrower?
Salaried individuals need to submit a copy of Form 16 and their salary slips for the past 3 months. Do note that other income-related documents may be required during loan processing.

Interest Rate

APR ranging from 9.5% to 16% | One-time Processing Fee up to 2% plus taxes

Repayment

Flexible repayment tenure from 1 year to 30 years with zero Foreclosure charges for all Floating Rate Home Loans

Example

Loan Amount Rs.10 lakh, Interest Rate: 10%, Tenure: 5 years, equates to EMI of Rs. 21,247 per month.

This rate of interest is prone to fluctuation basis our internal credit and risk policy, and as per an algorithmic multivariate score card.
*T&C Apply

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Submit your KYC and Income Documents.

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