What are the Documents Required for Canara Bank Home Loan

 Canara Bank Home Loan Documents Details

As far as today's time is concerned, we all get the loan we need from banks or financial institutions. Borrowing is based on a number of rules. Even though there are many types of loans, 90% of the people buy more home loans. Even after taking a loan in this way, 10% of the people are looking for basic information about what they need to qualify for a home loan and what documents they need for it. For the benefit of all of them, let us know in detail about the eligibility and documents required to get a home loan from Canara Bank today.

When applying for a home loan from Canara Bank, you will generally be required to submit the following documents, which may vary depending on the applicant's profile (salaried, selfemployed, or business owners). Below is a comprehensive list of the common documents needed for a home loan application:

1. KYC Documents

These are mandatory for identity and address verification:

 Passportsized photographs (usually 2 to 3)

 Identity Proof (any one of the following):

•    Aadhar Card
•    Passport
•    Voter ID
•    Driving License
•    PAN Card

 Address Proof (any one of the following):

•    Aadhar Card
•    Utility Bill (Electricity, Water, Telephone Bill)  recent (not older than 3 months)
•    Passport
•    Ration Card
•    Lease Agreement (for rented premises)
•    Bank Account Statement (showing current address)

2. Income Proof

For salaried individuals:

•  Latest Salary Slip (last 3 months)
•  Bank Statement for the last 6 months showing salary credits
•  Income Tax Returns (ITR) with the latest Form 16 or Acknowledgment of ITR filing (usually for the last 2 years)

  

For selfemployed individuals or business owners:

•  Income Tax Returns (ITR) for the last 23 years along with the Profit & Loss Account and Balance Sheet
•  Bank Statement for the last 6 months (business or personal)
•  Proof of business ownership (e.g., partnership deed, certificate of incorporation, etc.)
•   

For professionals (doctors, engineers, etc.):

•  Qualification Certificate and Practice Details
•  Income Tax Returns (ITR) for the last 23 years
•  Bank Statements (for the last 6 months)

3. Property Documents

Documents related to the property you wish to purchase:

•  Title Deed (proof of ownership of the property being purchased)
•  Sale Agreement (if applicable)
•  Agreement to Sale / Builder Agreement (for new properties)
•  Approved Building Plan (from local authorities)
•  Occupancy Certificate or Completion Certificate (for readytomovein properties)
•  NOC from the builder/developer (if you are purchasing from a builder)

4. Other Documents

•  Processing Fee: Payment receipt (varies by loan amount and applicant profile)
•  Property Valuation Report: Canara Bank may require a valuation of the property by a bankapproved valuer.
•  Postdated Cheques (PDCs) for EMI payments (if applicable)

Additional Documents (as per requirement)  

•  Coapplicant Details: If there is a coapplicant, their KYC and income documents are required as well.
•  Guarantor Details: If you have a guarantor, their KYC and income documents may be requested.

For NRIs (NonResident Indians)

Additional documents may include:

•  Overseas Address Proof
•  Employment Contract or Appointment Letter (if employed abroad)
•  Visa/Work Permit
•  NRI Bank Statements (for the last 6 months)

These are the general document requirements. It is always a good idea to confirm specific requirements directly with Canara Bank, as they may vary based on your application type, loan amount, or location.