Check Your Eligibility and Documents Required for Home Loan

Whether you are buying a house for the first time or looking to expand your current abode, Tata Capital offers a wide range of home loans to meet your needs. Buying a home is not a short-term investment for just your immediate needs but it is an investment that will continue to give you returns for the rest of your life. Moreover, your home is your safe haven for you and your family. It is the place of utmost comfort and peace, a place where you come back after facing the world. So, you should never settle for a house that you don’t love.

Our housing loans help you make your dream house a reality, at home loan interest rates starting at just 9.25%.

We at Tata Capital, believe in providing home loans with minimal paperwork and flexible home loan EMI plans. You can also use our Home Loan Eligibility Calculator to find out your own eligibility.

To get a home loan, all you have to do is adhere to some of our home loan eligibility requirements.

For Salaried Individuals

Eligibility

1. Age Requirement
   You must be between the age of 24 and 65.
2. Salary Requirement
   If you are a salaried individual, you should earn a minimum of Rs. 30,000 per month and must possess two years of work experience.

Documents

1. Age Proof
2. Photo Identity Proof
3. Address Proof
4. Salary Slips – For the last three months or appointment letter / yearly increment letter / certified true copy of Form 16
5. Income Proof – Copy of your Salary account bank statements for the last six months
6. Existing Loan Details
7. Processing Cheque- To be issued from the salary account for salaried customer

For Self Employed Individuals

Eligibility

1. Age Requirement
   You must be between the age of 24 and 65.
2. Salary Requirement
   If you are an entrepreneur, you should have three years of experience in your current field.

Documents

1. Age Proof
2. Photo Identity Proof
3. Address Proof
4. Business Proof- Copy of the last two years’ Income Tax Returns / your Business profile on letterhead / Registration certificate for business commencement
5. Income Proof- Copy of the last three years’ Profit & Loss (P/L) Projection Statement / Operative current account statement for the last six months / Bank statements for the last six months of CC/OD facilities, if taken
6. Existing Loan Details
7. Processing Fee Cheque- To be issued from your business account

For NRIs

Eligibility

1. Age Requirement
   You must be between the age of 24 and 65.
2. Salary Requirement
   If you are a salaried individual, you should earn a minimum of Rs. 30,000 per month and should have two years of work experience. And if you are an entrepreneur, you should have three years of experience in your current field.

Documents

1. Age Proof
2. Photo Identity Proof
3. Address Proof
4. Salary Slips- Copy of your payslips for the last six months along with employment stability documents such as appointment letter/previous employment history
5. Income Proof- Overseas salary account details for Indian NRE/ NRO account statements for the last six months
6. Credit Report- You will have to submit a Credit Report of your current country of residence, wherever it is applicable as per Tata Capital norms.
7. Existing Loan Details
8. Processing Fee Cheque- To be issued from the salary account for a salaried customer or the business account in case of self-employed.

We at Tata Capital believe in making your dreams of owning a house an actual possibility. Get in touch with us today!