- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
a. Age – For Salaried - 23-60 years
For Self-employed – 23-65 years
b. Credit score: 700 or above
c. Employment Type: Salaried
d. Minimum net income (monthly): INR 50,000
e. Work experience:
For salaried- 3 years of job stability
All loan applicants require submitting the below-mentioned documents:
● Application Form with recent photographs.
● Identity & residential address proof (Aadhar Card/ Driving License/ Valid Passport/ PAN Card/ Voter ID).
● Birth date Proof (Aadhar Card/ Driving License/ Valid Passport/ PAN Card/ Voter ID).
● Signature Verification Proof.
Self-employed loan applicants require submitting the following additional personal documents:-
● Business Address proof
● IT Returns
● Balance sheet and P&L Account with all schedules.
● Bank salaried credit statements (Last 6 months).
● Business continuity proof for 3 years.
● Form 16
● Proof of work experience.
All loan applicants require submitting the specified property documents:
● Copies of the sale agreement, encumbrance certificate, and title deed.
● Clearance certificate and approved plan certificates from authorities.
● Allotment letter by-laws of Apartment owners Association or cooperative society.
Work Experience Proof (for salaried loan applicants)
● Letter of work experience from the current and previous employer(s).
● Form 16 HR check (issued by authorized CPA resource).
The loan verification proceeds in the following stages:
1. Fill the application form and upload it on the official website or wherever required. Submit copies of all the relevant documents necessary for application verification. It can be quickly done by signing up on Apnapaisa.com.
2. One of our customer care representatives will get back to you within 24 hours and schedule visits for collecting document copies (in case you chose offline submission of documents).
3. The concerned officials will verify the documents and the details there. They may visit the property if necessary.
4. Once your application is approved, the loan amount will be disbursed to your account, and you will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.
Standard Chartered Bank home loan interest rate starts from 7.99%.