Personal Finance In India

Having homed in on the bank and the type of loan you require, comes the toughest part of how to get a loan. Getting a loan isn’t like taking a walk in the park. The bank requires a plethora of documents for ascertaining your credentials and details of the plot/house/flat. Here’s a sample of what you need to produce to get your loan:

Common (for salaried as well as self-employed borrowers)
Proof of Age
Proof of Residence
Photograph
Bank Statements for the past six months

For salaried borrowers
Latest salary slip or statement
Form 16

For self-employed borrowers
I-T returns for the last 3 years
Balance sheet for the last 3 years
P&L accounts for the last 3 years
Tax challan for the last 3 years
Flat and house
Sales affidavit/ letter of allotment in case of society or association of persons
Original vendor's sale deed
Original sale agreement
I-T clearance as the case may be
Encumbrance certificate