A salary or regular income of about Rs. 50000/- per month is required for availing home loan of Rs. 30 lakhs. It can be borrower’s individual income or jointly with the spouse or immediate family member. The loan availed can be foreclosed any time after 24 hours. Or you can keep paying lumpsum amounts as and when possible over and above the regular monthly instalment. Accordingly loan amount and interest total get reduced. There is no fine or penalty for closing the loan early. Normally required documents are as follows:
- Biodata
- Passport size Photographs – 4 nos
- Photo Identity Proof
- Copy of Identity Card issued by employer
- Last one year Salary A/c Statement – Abroad or India
- If any Previous bank loan exists in India or Abroad – Bank Account Statement for last one year
- Salary Slip for last 6 months
- All documents should be self attested
Applicable only for NRI’s
- Passport, First page and Last Page
- Visa Copy
- Copy of valid work VISA / work contract
- Salary Certificate attested by Indian Embassy