Home loan in Trivandrum

A home loan helps one to make the dream of purchasing or constructing a home a reality. Generally, a Home Loan is a sum of money borrowed from a Bank or a Financial Institution for purchasing, constructing, renovating or extending a house . Most of the leading players in the industry offer Home loan in Trivandrum. The products vary from bank to bank in terms of interest rates and other charges. It is very important to choose the right product from various available options. We can extend excellent assistance, if you are looking for a Home loan in Trivandrum.

Types of Home Loans

  • Home Purchase Loan : This loan is taken for purchasing a house.
  • Home Construction Loan : This loan finances for building a new house.
  • Home Improvement Loan : It helps you to meet the expenditure related to repairs and renovation of your home.
  • Land Purchse Loan : You can buy a plot for constructing of your own home availing this loan.
  • Home Extension Loan : It will take care of the expenses incurred for adding a new bathroom, kitchen or another room to your home.
  • Home Loan Balance Transfer : You can switch your outstanding balance to a different lender with better terms and conditions.
  • Top-up Home Loan : This loan facilitates an existing Home Loan customer to borrow some more money above the outstanding amount.

Document check list for Home Loan

A) RESIDENT INDIAN
1Proof of Identity- PAN card/Driver’s Licence/Voter ID/Passport/Aadhaar Card
2Proof Of Address- Driver’s Licence/Ration Card/Voter ID/Passport/Aadhaar Card
Additional Documents for(Applicants/Co-applicants whose income to be considered for eligibility
 Salaried IndividualsSelf Employed Individuals/Proffessionals/Others
a.Latest 3 months Salary SlipsBalance Sheet & Profit & Loss A/C, Computation of Income – Last  2 years
b.Form 16 & ITR copies of Applicans – Last 2 yearsIncome Tax Returns & Form 26 AS/Form 16A which is applicable  – Last 2 Years
c.Copy of Employee Id card provided by the EmployerBusines proof – Licence issued by the local self Govt body, Registration certificate , GST registration certificate etc
d.Bank statement for last 1 yearBank statement for last 1 year
B) NRI/PIO/OCI
1Copy of Passport and Visa.
2Proof of residence (India) & Overseas address with land mark.
3For some institutions, a resident Indian co-applicant is mandatory. In that case, KYC proff for the resident Indian co-applicant should be submitted.
4NRE Savings Bank statement for last 1 year.
5Overseas Credit report.
6Embassy attested salary certificate in case the applicant is not physically present in the time of application.
7POA in the specific format  in case the applicant is not physically present in the time of application.(Should be adjudicated or Notarised as per the Bank’s requirement)
Additional Documents for PIO
 A photocopy of the PIO card or any of the following documents
 a. Current passport indicating birth place in India/Abroad
 b. Indian Passport if held earlier
 c. Parents or Grand parent”s passport with details there in substantiating his claim of being a PIO
Additional Documents for NRI – Salaried
 a. Copy of employment contract in vernacular language
 b. Copy of the Identity card issued by the employer
 c. Continuous discharge certificate if applicable
 d. Copy of latesrt work permit
Legal & Technical documents
 1. Copy of title deed
 2. Copy of prior deeds
 3. Latest land tax receipt
 4. Mutation extract
 5. Location sketch
 6. Possession certificate
 7. Encumbrance certificate for a period of 15 years. ( The period may varied from 12 years to 30 years as per the requirement of the institution)
 8. Approved plan and estimate
 9.Latest building tax receipt (for House purchase.)
Additional Documents for Builder-first purchase Loan
 a. Registered sale agreement
 b. Demand letter from builder
 c. Allotment letter
 d. Construction agreement
 e. NOC from builder
 f. Own contribution receipts
 g. Tripartite/Fourpartite agreement
 h. Release letter from builder if applicable
Additional Documents for Top-up Loan
 a. Existing loan account for last 1 year
 b. List of documents, in respect of the property submitted to bank
 c. Bank attested copies of the submitted documents
 d. Sanction letter.