Eligibility & Documentation

Things to know before you apply

Eligibility

Loans can be applied by individuals, either solely or jointly. Owners of the current property, in respect of which the loan is being sought, will have to be co-applicants. However, the co-applicants need not be co-owners. Specific eligibility criteria are as follows:

  1. For self-employed professionals:
  2. Minimum annual income should be Rs.1.44 lakh as per the P&L.
  3. Minimum gross annual income should be Rs.1.44 lakh.
  4. Minimum 21 years of age.
  5. Maximum 65 years of age at the time of loan maturity.
  6. Firm/company should have been in operation for the last 3 years.
  7. Firm/company should be making cash profits for the last two years.
  8. For self-employed non-professionals:
  9. Minimum annual income should be Rs.1.44 lakh as per the P&L.
  10. Minimum 21 years of age.
  11. Maximum 65 years of age at the time of loan maturity.
  12. Firm/company should have been in operation for the last 3 years.
  13. Firm/company should be making cash profits for the last two years.

Documentation

The following documents are required for the purpose of credit appraisal:

  1. Completed application
  2. Your income documents and bank statement
  3. You address and age proofs