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Essential Documents Required When Applying for a Home Loan

· home loan documents,Home LoanEligibility,home loan,bajaj home loan

At the first instance, applying for a home loan may seem like a rather daunting task. This is owing to the number of home loan documents which are needed. This happens mostly with those who are buying a house for the first time, because not only are they not aware of the process, but they also do not know the documents which are needed.

If you are unsure about the home loan documents which need to be submitted then here is a lowdown -

  • Application Form

  • Recent photograph

  • Identity proof

  • Address proof

  • Salary Slip/Form 16

  • Bank Account Statement

  • Document for proof of business (of 5 years) for those who are businessmen or self-employed

These are the document required for home loan which are required by most lenders including NBFCs (Non-Banking Financial Institutions) to process a home loan application. The best part is that all these home loan required documents can be uploaded online, which means you do not have to make several trips to the lender’s branch.

There are a number of lenders who provide home loans, but if you are opting for a home loan, you should conduct a thorough research regarding the various offers, benefits, interest rates, and repayment period offered by many of these lenders.

One of these lenders includes Bajaj Finserv which offers home loans of up to Rs. 3.5 crores with a repayment period of up to 240 months so that you can choose the tenor as per your convenience.
Some of the other benefits include -

  • ‘Flexi Hybrid Home Loan’ which allows you to pay only the interest in the initial part of the tenor,

  • Balance top-up loan which allows you to transfer your existing home loan and get a top-up loan at a very nominal rate,

  • No charges on part-payment or foreclosure

  • Online account to help you check your loan details anytime and from anywhere, and

  • EMI Calculator to calculate the instalment which you stand to pay each month for the selected loan amount.

Also Read This: How to Calculate Home Loan Eligibility?

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