Documents Required for Home Loan - Home Loan Document Checklist | Kotak Mahindra Bank

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Document Checklist for Various Customers

 

Documents Required for a Home Loan Salaried Professional Self-employed Professional (SEP) Self-employed Non-professional (SENP) Co./HUF/Partnership Firm/LLP Non- Resident Indians (NRI)

Application form with photograph duly signed

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PAN card

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Aadhaar card

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Passport

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Residence proof copy

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Bank statement

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Last three months salary-slips

(six months in case of NRI with variable salary)

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Form 16 and income tax

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Job confirmation proof

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Relationship proof

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Proof of business existence

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Business profile

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Business reference—recommendatory

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Power of attorney

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Information regarding loan availed with its track record (if any existing loans)

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Education qualification certificate and proof of business existence

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Last three years income tax returns (ITR) with computation of Income

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Last three years’ balance sheet and profit & loss account certified/audited by a CA.

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All property documents (chain) with sanction map

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Checking the eligibility for your Home Loan and the EMI that you have to pay is now easier. You can do so by using the Kotak Home Loan EMI Calculator. You only need to know your Kotak Home Loan’s interest rates and the processing fees and charges you paid for it.

 

General Questions Related to Documents Required for a Home Loan

What are the primary documents required for a home loan in India?

The primary documents you will need to apply for a home loan in India are as follows:

  • Income proof
  • Banking details
  • Identity proof like PAN, Aadhaar, Driving license, Passport, Voter ID
  • Age proof like PAN, Aadhaar, Driving license, Passport, Voter ID
  • Signature proof like PAN, Passport
  • Address proof like Aadhaar, Driving license, Passport, Voter ID
  • Evidence of educational qualification
  • Relationship proof

What is the process of verification of home loan documents?

Once the applicant has submitted the documents, the verification process begins.

  • Step 1: Typically, every bank has its own team that verifies the records. The bank then passes the loan papers on to the verification team.
  • Step 2: The team then sends a representative to the residence of the applicant of the loan to physically verify the address. The representative also physically checks the applicant’s workplace address and whether they work there or not.
  • Step 3: Documents such as the applicant’s PAN Card, etc., are verified online through portals.
  • Step 4: After the verification team confirms all the details, they forward the results to the home loan officer who handles that client’s account.


Upon successfully verifying the documents, the bank either proceeds with the Loan Process or rejects the application. In the case of the latter, the bank communicates the reason for rejection to the applicant. Consequently, the applicant can rectify the application and approach the lender again.

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What should be the language of the registration document?

The registration document should be in English. It helps in easy verification and gets your loan sanctioned quickly.

What documents are needed for the registration of an independent house?

To register an independent house, you need to submit the following documents -

  • Aadhaar Card
  • Passport-sized photographs of the seller and the buyer
  • Copy of the original and verified sale deed
  • Copy of the NOC required under the provisions of the land ceiling Act
  • Copy of the property register card
  • Construction completion certificate
  • The agreement drawn between the seller and the buyer
  • Copy of the Municipal Tax Bill

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Frequently Asked Questions

Can I get a home loan without any documents?

No. It is not possible to avail a home loan at zero documentation. However, Kotak Mahindra Bank ensures a simple and quick home loan application and approval process with basic documents. 

Customers can expect a convenient experience with systematic and transparent documentation. 

What is the importance of ITR in the home loan process?

When applying for a home loan, generally last three years’ income tax returns with computation of income are required to be submitted. 

ITR is an important document that helps to decide the borrower’s eligibility as well as repayment capacity. The applicant’s income level, creditworthiness and net worth are the factors determined by ITR.

Can I get a home loan without a salary slip?

Salary slip is an important document that banks expect salaried borrowers to submit. It is used as proof of income. 

In the absence of salary slips, especially for non-salaried individuals, applicants may submit bank statements and complete ITR details as required by the lending bank. So, although salary slips improve your chances to get a home loan, it’s not mandatory. 

When will the home loan be disbursed?

You can take the disbursement after credit, technical and legal appraisals of the property have been done, besides execution of relevant documents & deposit of original property documents is required to be completed prior to disbursement.

 Further, you should have invested your own contribution amount towards the property. 'Own contribution' is the difference between the cost of the property and the loan amount.

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What kind of security is required?

In most cases, the property itself, bought or intended to be bought, becomes the security till the entire loan is repaid.

 In some cases additional security such as life insurance policies or Term Deposit receipts of Kotak Mahindra Bank (if available) can be provided.

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Disclaimer (Things you should know):

For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.