- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
a. Age: 21 - 70 years
b. Credit Score: A minimum of 650
c. Employment Type: Salaried Self-Employed
d. Borrower Profile: Individuals - singly or jointly
e. Work Experience: At least one year for salaried employees
At least two years for non-salaried
A maximum period of three months can be
considered for a break in service
The borrower needs to submit these documents:
● Application form with photographs
● Valid age, identity and residence proof
● A copy of an approved house plan and sanction letter from the local civic authority
● A copy of NA permission
● One/two guarantor form(s) and salary certificates or copies of I.T. returns/assessment orders for the last three years
● Bank passbook of statements for the last two years
● Latest salary slip/statement to show all deductions for salaried employees
● Certified copies of personal and company documents in case of self-employed applicants
● Additional documents required depending on purchase from the builder, direct allotment in a co-operative housing society or resale
The loan verification process takes place in the following stages:
● Filling of online application form and upload of documents on bank’s website or apnapaisa.com. You can also visit the nearest bank branch.
● Review of application form and documents by the bank.
● Loan sanction letter sent to the applicant by the bank.
● Signing of the loan agreement between the bank and applicant.
● Disbursal of funds by the bank to the borrower’s account.
● Up to Rs. 75 lakh: 6.85 – 8.20%
● Above Rs. 75 lakh: 7.10 – 8.45%