When applying for a home loan under the Bank of India “Star Home Loan” scheme (or similar products), you need to submit a set of documents to support your identity, income and repayment capacity. According to the bank’s official page, the Bank of India home loan documents list required for individuals are as follows:
Proof of Identity (any one): PAN Card, Passport, Driving Licence or Voter ID.
Proof of Address (any one): Passport, Driving Licence, Aadhaar Card, latest Electricity Bill, latest Telephone Bill, latest Piped Gas Bill.
Proof of Income: For salaried applicants: Latest 6 months’ salary/pay slips and one year Income Tax Return (ITR) or Form 16. For self-employed applicants: Last 3 years’ ITR with computation of income/profit & loss account/balance sheet/capital account statement.
For “other than individuals” (such as firms, companies, HUFs) additional documentation is required, like KYC of partners/directors, PAN of company/firm, partnership deed/MOA-AOA, certificate of incorporation, last 12 months’ account statements and audited financials for the last 3 years.
Beyond these minimums, the bank will also request property-related documents (title deed, sale agreement, building plan approvals, etc.), co-applicant/co-borrower documentation (if applicable) and may call for bank statements, asset–liability statements, and any other proof to assess the applicant’s repayment capacity.
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I am a BOI account holder and when I was in need of a home loan, I called the bank directly. They provided me with all the necessary information such as interest rate, max tenure, max amount, etc. After that, I asked them for the Bank of India home loan documents list.
Which are the Documents Required for Home Loan BOI?
Here are the BOI home loan documents required to avail of the loan;
Proof of identity: PAN, Passport, Driver Licence, Voter ID (only one).
Proof of Address: Passport, Driver's Licence, Aadhar Card, Latest Electricity Bill, Latest Telephone Bill, Latest Piped gas bill (only one).
Proof of Income of Salaried Individual: Latest 6 Month's Salary, Pay Slip, and One-year ITR, Form16 (only one)
These are all the BOI home loan documents that I was asked to provide. The bank also told me about the eligibility criteria of the home loan a well, which was
Only Indians, NRIs, and PIOs are eligible.
Salaried, non-salaried, and professionals can only apply.
For non-individuals, only Groups/Associations of Individuals, HUF, and Corporates are eligible.
Minimum 18 years to maximum age 70 years at the time of final repayment.
This is the Bank of India home loan documents list and the eligibility criteria that the bank laid out for me. Hope this helps.
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What are the Documents Required for Home Loan BOI?
Priyal
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2024-06-03T11:27:51+00:00 2024-06-03T11:27:52+00:00Comment
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