Home Loan in Kannur

Eligibility Criteria for a Home Loan in Kannur

Eligibility criteria vary for salaried and self-employed applicants.

For Salaried Individuals

• Must be a resident Indian (including NRIs)
• Should fall within 23 to 67 years** of age
• Must have at least 3 years of total work experience

For Self-Employed Individuals

• Must be an Indian resident
• Should be aged between 23 and 70 years**
• Must have a business vintage of 3 years

**The upper age limit is considered as the age at the time of loan maturity. Additionally, the upper age limit for applicants is subject to change, depending on the property profile.

Documents Required for a Home Loan in Kannur

Preparing essential documents beforehand can ensure an efficient verification process:

• Identity and Address Proof: Aadhaar Card, Passport, and Driving Licence
• Mandatory KYC Document: PAN Card or Form 60
• Income Documentation: Salary slips, Form 16, and bank statements for salaried applicants; ITRs, audited financials, and bank statements for self-employed applicants
• Property Documentation: Title deeds, approved plans, sales agreement, and relevant ownership records
• Bank Statements: Last six months’ bank statements

This is an indicative list. We may need additional documents during verification.

How to Improve Your Home Loan Eligibility in Kannur?

To know the loan amount you can borrow, you can use our Home Loan Eligibility Calculator. To improve eligibility, you can:

• Maintain a good CIBIL score with consistent repayment history and responsible use of credit
• Pay off existing debts
• Add a financially stable co-applicant