Differnce: Banks & NBFC Home Loan Documentation

The documentation process of Home loan for NBFC and banks are slightly different from one another, and so is their process.


Documents required by Banks are:

a) Signed Home loan application form

b) As many passport size photographs required

c) Identity Proof like; aadhar card, passport, PAN, Voter, Driving license, etc.

d) Age proof like; Aadhar card, PAN, Birt Certificate, Bank passbook, etc.

e) Residential Proof; LIC Policy Receipt, Passport, ration card, etc.

f) Income documents; For salaried

• payslip of last 3 months

• Form 16

• Certified letter from Employer

For self-employed professionals

• Balance Sheet and P/L account

• License for Practice

• Proof of Business Address

• Registration certificate of business


g) Property Documents like; NOC from the builder estimated the cost of construction, Sale deed, building plan, etc.

Documents required by NBFC are similar to the documents required by the bank with regards to the proof of identity, address proof, age proof, photographs, etc. The difference is with regards to income and property documents:

For salaried individuals:


• Recent Form 16

• Salary slip

• bank statement

For self-employed individuals:

• Audited financial statements of the last 2 years

• bank statements

• Expert qualification certificate like CA, advocate, CS, etc.

• Copy of MOA/AOA/Partnership deed

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