Home Loan Eligibility Criteria

Home Loan Eligibility

Eligibility and Fee Structure
Eligibility Criteria ( Annual Income)
Age Criteria
Loan Amount
Tenure
Loan to Value Ratio
Current Experience
Processing Fees
Prepayment Charges
Documents Required

 

Eligibility Criteria
Banks Salaried Self- Employed
CITIBANK 1,00,000 p.a 85,000 p.a.
ICICI 1,44,000 p.a 1,50,000 p.a
HDFC 1,20,000p.a 1,50,000 p.a
IDBI 1,44,000 p.a. 1,50,000 p.a.
LIC HOUSING FINANCE 1,80,000 p.a. 2,00 ,000 p.a.
SBI 1,20,000 p.a. 2,00,000 p.a
Kotak 1,44,000 p.a 1,44,000 p.a
ING VYSYA 1,20,000 p.a 1,50,000 p.a
DHFL 1,44,000 p.a 1,50,000 p.a
STANDARD CHARTERED 1,80,000 p.a 2,50,000 p.a
Age Criteria (in Years)
Banks Salaried Self- Employed
CITIBANK 23 to 65
ICICI 21 to 65 21 to 65
HDFC 21 to 58 21 to 65
IDBI 21 to 60 21 to 65
LIC HOUSING FINANCE 18 to 60 18 to 60
SBI 21 to 60 21 to 70
ING VYSYA 23 to 58 25 to 65
Kotak 21 to 60 21 to 65
STANDARD CHARTERED 21 to 60 21 to 60
Loan Amount
Banks Salaried Self- Employed
CITIBANK 2,00,000 – 2,00,00000 2,00,000 – 2,00,00000
ICICI 2,00,000 – 1,00,00000 2,00,000 – 2,00,00000
HDFC 2,00,000 – 1,00,00000 2,00,000 – 2,00,00000
IDBI 2,00,000 – 1,00,00000 2,00,000 – 2,00,00000
LIC HOUSING FINANCE 5,00,000 – 1,00,00000 5,00,000 – 2,00,00000
SBI 5,00,000 – 1,00,00000 5,00,000 – 2,00,00000
ING VYSYA 5,00,000 – 3,00,00000 5,00,000 – 3,00,00000
Kotak 2,00,000 – 1,00,00000 2,00,000 – 1,00,00000
STANDARD CHARTERED 5,00,000 – 1,00,00000 5,00,000 – 1,00,00000
Tenure (in Years)
Banks Salaried Self- Employed
CITIBANK 5-25 5-20
ICICI 5-20 5-20
HDFC 5-20 5-20
IDBI 5-20 5-20
LIC HOUSING FINANCE 5-20 5-15
SBI 5-20 5-20
ING VYSYA 5-20 5-20
Kotak 5-25 5-25
DHFL 5-20 5-20
STANDARD CHARTERED 5-20 5-20
Loan to Value Ratio
Banks Salaried Self- Employed
CITIBANK 85% of Agreement value 85% of Agreement value
ICICI 85% of Agreement value 85% of Agreement value
HDFC 85% of Agreement value 85% of Agreement value
IDBI 88% of Agreement value 88% of Agreement value
LIC HOUSING FINANCE 85% of Agreement value 85% of Agreement value
SBI 80% of Agreement value
ING VYSYA 85% of Agreement value
Kotak 85% of Agreement value 85% of Agreement Value
DHFL 85% of Agreement value 85% of Agreement Value
STANDARD CHARTERED 85% of Agreement Value 85% of Agreement Value
Current Experience
Banks Salaried Self- Employed
CITIBANK 2 year 3 year
ICICI 1 year 3 year
HDFC 3 year 3 year
LIC HOUSING FINANCE 2 year 3 year
SBI 2 year 3 year
Kotak 2 year 3 year
ING VYSYA 3 year 3 year
DHFL 2 year
STANDARD CHARTERED 2 year 2 year
Processing Fees
Banks Fees
LIC HFL 1%
ICICI HFC 0.50%
HDFC Rs.10000/- or 0.5% of loan amount(whichever is lesser) + Service Tax
IDBI 10000 (up to 20 lacs)
SBI 0.5%
Kotak Mahindra 0.5%
ING VYSYA 0.5% of Loan amount + Rs.500 + Service Tax(10.30%)
DHFL 1%
STANDARD CHARTERED 0.25% – 0.5%
Axis bank 0.5%
PNB 0.5%
Dena Bank 0.5%
Fedral Bank 0.5%
Barclays Bank 0.25%
Deutsche Post 0.5% of Loan amount + Rs.500 + Service Tax(10.30%)
Union Bank 0.50%
Prepayment Charges
Banks Fees
CITIBANK
ICICI HFC 2%(Full payment), No Penalty (Part Payment)
HDFC If 25% of outstanding amount is paid every year till 3 years – No penalty, otherwise 2% of outstanding amount
IDBI
LIC HFL 2%
SBI 2%
Kotak Mahindra 2%
ING VYSYA 2% – 4%
DHFL 5%(upto 5 years),2%(above 5 years),If balance transfer 5%
Axis bank
PNB 2.50%
Dena Bank 2%
Fedral Bank 2%
Barclays Bank 2%
Deutsche Post 2%-4%
Union Bank 2%
STANDARD CHARTERED 2%

 

Documents Required
Banks Salaried Self-Employed
CITIBANK 1) Application form with photograph,
2) Identity & residence proof,
3) Latest salary slip,
4) Form 16,
5) Last 6 months bank statements,
6) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof,
3) Education qualifications certificate & proof of business existence,
4) Business profile,
5) Last 3 years profit/loss & balance sheet,
6) Last 6 months bank statements,
7) Processing fee cheque
ICICI 1) Application form with photograph,
2) Identity & residence proof,
3) Age Proof
4) Latest 3 months salary slip,
5) Form 16,
6) If current service is less than     2 years than previous company relieving letter,
7) Last 6 months bank statements,
8) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof,
3) Education qualifications certificate & proof of business existence,
4) Business profile, Last 3 years profit/loss & balance sheet,
5) Last 6 months bank statements, Processing fee cheque
HDFC 1) Application form with photograph,
2) Identity & residence proof, 3) Latest salary slip,
4) Form 16,
5) Last 6 months bank statements,
6) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof,
3) Education qualifications certificate & proof of business existence,
4) Business profile, Last 3 years profit/loss & balance sheet,
5) Last 6 months bank statements,
6) Processing fee cheque
IDBI 1) Application form with photograph,
2) Identity & residence proof, 3) Latest salary slip,
4) Form 16,
5) Last 6 months bank statements,
6) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof,
3) Education qualifications certificate & proof of business existence,
4) Business profile, Last 3 years profit/loss & balance sheet,
5) Last 6 months bank statements,
6) Processing fee cheque
LIC HOUSING FINANCE 1) Application form with photograph,
2) Identity & residence proof,
3) Latest 3 months salary slip,
4) Form 16,
5) Last 6 months salaried bank statements,
6) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof, Education qualifications certificate & proof of business existence,
4) Business profile, Last 3 years profit/loss & balance sheet,
5) Last 6 months bank statements,
6) Processing fee cheque
SBI 1) Application form with photograph,
2) Identity & residence proof,
3) Last 3 months salary slip,
4) Form 16,
5) Last 6 months bank salaried credit statements ,
6) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof,
3) Education qualifications certificate & proof of business existence, 40Business profile,
5) Last 3 years profit/loss & balance sheet,
6) Last 6 months bank statements,
7) Processing fee cheque
ING VYSYA 1) Complete application form,
2) processing fees cheque,
3) Identification Proof,
4) Residential proof,
5) Signatures Proof, Last 3 months salary slip,
6) Form 16 ,Last 3 months bank statement
1) Complete application form,
2) Identification Proof,
3) Residence Proof,
4) Last 3 year ITR,
5) Last 6 months bank statement ,
6) as Processing fees cheque
Kotak Complete application form, Address ProofAge Proof, Income Proof, last 6 months bank statement, last 3 months salary slip
DHFL 1) Complete Application Form,
2) Residence Proof, Identification Proof,
3) Income Proof, Last 3 months Salary slip or Salary Certificate, If Salary is above 10000 per month than Latest Form 16
4) Last 6 month bank statement
Residence Proof, Identification Proof, Business Proof:
1) Brief Business Profile on the letter head
2) Copy of Shop & Establishment License / VAT Registration or any other mandatory license / registration
3) Copy of Partnership deed
Details of Contract,
4) Copy of last 3 years Income Tax Returns,
5) Copy of last 3 Years Balance Sheet and Profit & Loss Account of the firm duly attested by a Chartered Accountant,
6) Bank Statement for the last 1 year for the Savings A/c & Current A/c
7) Form 16 /Tax deduction certificate
8) Copy of Advance Tax paid / self assessment tax paid Challan
STANDARD CHARTERED 1) Application form with photograph,
2) Identity & residence proof,
3) Last 3 months salary slip,
4) Form 16,
5) Last 6 months bank salaried credit statements ,
6) Processing fee cheque
1) Application form with photograph,
2) Identity & residence proof,
3) Education qualifications certificate & proof of business existence, 40Business profile,
5) Last 3 years profit/loss & balance sheet,
6) Last 6 months bank statements,
7) Processing fee cheque

 

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