Eligibility

Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners. Specific eligibility criteria are as follows:

For self-employed professionals:

• Minimum annual income should be Rs.1.44 lakh as per the P&L.
• Minimum gross annual income should be Rs.1.44 lakh.
• Minimum 21 years of age.
• Maximum 65 years of age at the time of loan maturity.
• Firm/company should have been in operation for the last 3 years.
• Firm/company should be making cash profits for the last two years.

For self-employed non-professionals:

• Minimum annual income should be Rs.1.44 lakh as per the P&L.
• Minimum 21 years of age.
• Maximum 65 years of age at the time of loan maturity.
• Firm/company should have been in operation for the last 3 years.
• Firm/company should be making cash profits for the last two years.

Documentation

The following documents are required for the purpose of credit appraisal:

• Completed application
• Your income documents and bank statement
• You address and age proofs