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Indiabulls Home Loan

 

Eligibility & Documentation


Indiabulls Home loan can help you raise capital to help your immediate needs. Several factors determine eligibility for a home loan, including monthly income, fixed monthly obligations, age, and retirement age.

 

Indiabulls Home Loan Eligibility Criteria

 

 

Salaried Individuals

Self-Employed Individuals

Business / Company

Entitled Borrowers

Government / Semi government / PSU / Private/MNCs/ Proprietorship/Partnership businesses

Proprietor /

Partners / Directors

Partnership or Private Limited firms engaged in Manufacturing, Servicing, or Trading

 

 

Self Employed Professionals such as Chartered Accountants, Company Secretary & Doctors

 

Age

The person should be 21years old at the time of loan application and his maximum age should be 70 years

Applicant must be a minimum of 23 years of age at the time of application and should be a maximum of 70 years at loan maturity.

Proprietor / Key Partner / Main Director must be a minimum of 25 years at the time of loan application and should be a maximum of 70 years at loan maturity.

Experience / vintage

1 year of overall experience and 2 months with the present employer.

Must be running the same business for the last 3 years

Professionals with qualification of CA / CS/doctor with a minimum of 1 year of practice.

Business stability/history of minimum 3 years in the same business.

Income

Net monthly in-hand salary should be Rs.25,000

Gross annual income should be a minimum of Rs.3 lakh

Annual turnover should be a minimum of Rs.10 lakh

Citizenship

Individuals with Indian citizenship

Individuals with Indian citizenship

Proprietor / Partners / Directors with Indian citizenship

 

 

Documents Required To Avail India Home Loan

 

 

 

Salaried Individuals

Self-Employed Individuals

Firm / Company

Identity Documents

Aadhaar Card

Passport

Voter's ID Card

PAN Card

Driving License

 

Aadhaar Card

Passport

Voter's ID Card

PAN Card

Driving License

 

Firm/Company PAN Card, GST Registration Certificate (If applicable), and Other Applicable Registration

KYC of Partners / Directors PAN Card and Aadhaar Card

PAN Card

Address proof

The electricity bill for owned premises(up to 3 months)

Rent agreement for Rented premises

Passport

The electricity bill for owned premises(up to 3 months)

Rent agreement for Rented premises

Passport

The electricity bill for owned premises

Rent agreement for Rented premises

Passport for Partner / Directors

Income Proof

Last 2 month’s salary slip

Form 16 of last 2 years.

 

Income Tax Returns for the last 2 years

Profit/Loss statement and balance sheet for the latest 2 years

 

Income Tax Returns along for the last 2 years

Profit/Loss statement and balance sheet for the latest 2 years

GST Returns

Business / Employment

proof

Offer letter

Salary certificate of last 1 year (with company stamp)

Partnership deed

No encumbrance documents

Previous chain of documents from the earlier owner(if any property approval plan)

Partnership deed

No encumbrance documents

Previous chain of documents from the earlier owner(if any property approval plan)

Bank Account Statement

bank account statement of the latest 6 months and past 1 year

Operative bank account statement for the latest 6 months

Operative bank account statement for the latest 6 months

Other

document

Application form with duly signed

Passport size photograph

Processing cheque

Original and photocopies of property documents.

Form 26 (If form 16 is not available)

Sanction letter / account statement(if any running loan)

Salary certificate of 1 year

IT returns

Application form with duly signed

Passport size photograph

Processing cheque

Original and photocopies of property documents.

Gumasta license

Sanction letter / account statement(if any running loan)

Bank statement (payment made to the builder)

 

Application form with duly signed

Passport size photograph

Processing cheque

Original and photocopies of property documents.

Gumasta license

Sanction letter / account statement(if any running loan)

Bank statement (payment made to the builder)

 

 

*The aforementioned list of documents for an Indiabulls Home Loan is general. Extra documents may be needed at the time of loan processing.

eligibility

How to improve your Indiabulls Home Loan Eligibility?

Follow these tips to improve your Indiabulls Home Loan Eligibility –

Get Rid of Debts

Maintain a good repayment history by paying off your existing loans and liabilities on time without defaulting

Maintain a good CIBIL Score

Try to build a CIBIL score above 750

Do not apply for multiple loans simultaneously

Apply for a loan that fits your needs, raising multiple loan applications can decrease your credit worthiness

Choose a longer loan tenure

Opt for a longer repayment tenure that will allow you to disburse the overall due amount over a longer time span. This will also help in reducing the EMI amount.

Add Co-applicants

A co-borrower (a spouse, or parent) with a good income and credit score will boost your eligibility for a bigger loan amount.

improve-eligibility

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