Home Loan: Eligibility & Documents

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.

Home Loan 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 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

Documents Required For A Home Loan

	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:

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.