Documents Required For Home Loan

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At a Glance

Buying a home in India is a big decision irrespective of whether you are a new buyer or investing in another residential property. DBS Treasures can provide all the financial assistance you need to turn your dream home into a reality.

To complete your application, we make sure that you can apply for a home loan from the comfort of your home with minimal documentation so that the loan can get processed faster.

General List of Documents Required for Home Loan

In addition to the filled application form, you will need to submit self-attested copies of your proof documents to verify identity and residency address. Also, please keep your original documents handy. For joint home loan applications involving more than one applicant, each person will have to furnish the documents mentioned below.

To make the process easier for you, we at DBS Treasures have put this list of documents together. Let us look at what you will need to ensure that your home loan is sanctioned.

Home loan application form

You will need to share the below identify and address proof documents with the completed and signed application form:

  • PAN card (mandatory)
  • Passport
  • Voters ID
  • Driving License
  • Aadhaar Card (Aadhaar number to be masked)

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Proof of Income

For a home loan application to be processed fully, we would need to know about your income and fixed expenses to gauge your repayment capacity. The documents required for proof of income are:

Specific to Salaried Professionals

  • Salary slips for the last 3 months
  • Bank Statements featuring salary credits for the last 6 months
  • Form-16 and IT returns for the last 2 years

Specific for Self-Employed Professionals

  • Assessment orders/ Income Tax Returns for the last two years. You have to provide a computation of income (including an e-acknowledgment) certified by a CA.
  • Audited balance sheet, profit & loss account and the auditor's report with all annexures
  • Secondary income proof, if any, such as rental income, dividends, interest, etc.
  • Bank Statements for the last 6 months (all bank accounts)

Property Documents

Before you seal the deal on your new home, keep the below property checklist ready. These documents are essential in proving ownership and transfer.

  • For New Home
    • A copy of your allotment letter
    • Copy of registered agreement/buyer agreement/draft agreement.
    • Receipt(s) of payment(s) made to the developer/builder.
  • For Resale Home
    • Title deeds including details of all previous owners
    • Receipt(s) of payment(s) made to the seller
    • Copy of draft agreement or Copy of the agreement to sell (if it is already executed)

Other important documents

  • Proof of customer's contribution towards the purchase of the home
  • Employment Contract or Appointment Letter for customers whose current employment is less than a year old
  • Professional qualification certificates for self-employed professionals
  • Repayment track records for all ongoing loans for at least the last 6 months
  • A passport-size photograph for all the applicants to be attached to the application form and a signature that goes across the form and the photo
  • A cheque for the processing fee favouring DBS Bank India Limited - name of the applicant mentioned on the cheque. With DBS Treasures, zero processing fees are paid for home loans

The above documents are part of an indicative list. The final documents acceptable are based on DBS Bank's credit policy as applicable at the time of loan application. For more details, you can speak to your Relationship Manager (RM) or visit a DBS Bank branch near you.

Applications received without adequate documentation, as requested by DBS Bank India Limited, may face processing delays or even be rejected on a case-by-case basis.

How to Apply

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*Terms & conditions apply. Credit at sole discretion of DBS Bank India Limited.

Frequently Asked Questions

Why are income proof documents necessary for a home loan?

A financial institution needs to gauge the ability of an individual to repay the home loan and income proof documents serve as indicative proof of the customer's ability to make the loan repayment without any difficulty.

Why does a business need to be operational for more than three years for me to apply for a home loan?

Businesses that have been operational for at least three years can easily show stability and longevity - two crucial facets while applying for a home loan.

When does DBS Treasures reject home loan applications?

If the home loan application does not meet the Bank's internal credit policies, which are based on a combination of financial and other related criteria including document verification and a credit bureau report, a rejection may occur.