Home loan documents and CIBIL score: what banks check

3.15.1 What documents does a bank ask for a home loan?

A bank asks for three sets of documents: your KYC papers, your income proof, and the property papers for the flat. SBI’s own FAQ lists these as a completed application form with photographs, bank statements for the last 6 months, and income proof suited to whether you are salaried or self-employed. If your SBI savings account already carries valid KYC, the bank says “no fresh KYC document is required.” HDFC Bank’s page sets the same three groups, and both banks ask for PAN or Form 60. Each bank’s list differs in small ways, and both banks say the list can vary further for a specific case. For a new flat, the property papers matter most, because the flat is not yet registered in your name. Ask your own lender for its exact, current checklist in writing before you apply, and do not rely on a general list from any other source.

Document group	SBI (FAQ)	HDFC Bank
Identity and address (KYC)	PAN, Passport, Driving Licence or Voter ID; address proof if changed	PAN or Form 60, plus one OVD: passport, licence, voter ID, NREGA card or an Aadhaar proof
Bank statements	Last 6 months, all accounts	Last 6 months, showing salary credits
Salaried income	Salary slip or certificate, last 3 months; Form 16 or ITR, last 2 years	Last 3 months’ salary slips; Form 16 and IT returns
Self-employed income	ITRs last 3 years; balance sheet and profit and loss account last 3 years	ITRs and computation of income, last 2 assessment years, CA-attested

Source: SBI Home Loans FAQ and HDFC Bank Home Loans page, both checked 12 October 2026.

3.15.2 What KYC documents count as valid proof under RBI rules?

An “Officially Valid Document” (OVD) is the RBI’s own term for the identity proof a bank accepts for KYC. Paragraph 3(a)(xiv) of the RBI Master Direction on KYC, updated as on 14 August 2025, defines it as “the passport, the driving licence, proof of possession of Aadhaar number, the Voter’s Identity Card issued by the Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government and letter issued by the National Population Register containing details of name and address.” Proof of Aadhaar can be given in any form the UIDAI issues; this is not the same as handing over a physical Aadhaar card. HDFC Bank’s own list matches this set, and adds PAN or Form 60 as a separate, compulsory item alongside the OVD. SBI’s FAQ lists a shorter, practical set: PAN, passport, driving licence or voter ID.

If your OVD does not show your current address, the Direction allows a second document just for address, such as a utility bill no more than two months old, or a property tax receipt. For most salaried flat buyers in Bangalore, a PAN plus Aadhaar or passport meets both banks’ lists.

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3.15.3 What income documents do salaried and self-employed buyers need?

A salaried buyer gives recent salary slips and a tax record. A self-employed buyer gives business accounts and tax returns over a longer period. SBI’s FAQ asks a salaried applicant for a “Salary Slip or Salary Certificate of last 3 months” plus IT returns for the last two financial years. A non-salaried or self-employed applicant gives “IT returns for last 3 years” and the “Balance Sheet & Profit & Loss A/c for last 3 years.” HDFC Bank’s page asks a salaried applicant for the last 3 months’ salary slips, 6 months’ bank statements showing salary credits, and the latest Form 16 and IT returns. For a self-employed applicant, HDFC Bank asks for ITRs with income computation for at least the last 2 assessment years, plus at least 2 years of CA-attested balance sheets and profit and loss statements, and 12 months of current account statements for the business.

Both banks ask for proof of any existing loan, such as a statement for the last year. This list feeds into your home loan eligibility, since the bank sizes your loan from this income and your existing EMIs.

Applicant type	SBI (FAQ)	HDFC Bank
Salaried	Salary slip, last 3 months; ITR, last 2 years	Salary slips, last 3 months; Form 16 and ITR; 6 months’ bank statement
Self-employed	ITRs, last 3 years; balance sheet and P&L, last 3 years	ITRs and computation, last 2 years, CA-attested; balance sheet and P&L, 2 years, CA-attested

3.15.4 What property documents does a new-flat buyer need?

For a flat bought from a builder, the property papers prove the flat exists on paper and that the builder can sell it. SBI’s checklist for a new flat asks for the “Registered Agreement Sale (only Maharashtra)/Allotment Letter/Stamped Agreement Sale,” an approved plan copy, the “Registered Development Agreement builder,” and the Occupancy Certificate “in case of ready to move property.” HDFC Bank’s list for a builder flat is shorter on its page: a copy of the allotment letter or buyer agreement, and the payment receipts you have given the developer so far. Bank of Baroda’s published checklist, cited in Sachi’s home loan eligibility guide, adds the builder’s approvals and a title clearance report that the bank’s own advocate prepares, not you.

If the builder has a loan on the project land, ask for the builder’s lender’s NOC for your flat. The tripartite agreement guide explains why this NOC matters when your bank pays the builder before your sale deed is registered.

3.15.5 What is a CIBIL score, and does a lender need a minimum score?

A CIBIL score is a number that TransUnion CIBIL, a credit information company, calculates from your past loan and credit card repayment record. Four credit information companies (CICs) operate in India under the Credit Information Companies (Regulation) Act, 2005: TransUnion CIBIL, Equifax, Experian and CRIF High Mark. A bank reports your repayment conduct to these CICs, and each one scores you from its own data. CIBIL’s own FAQ says the score “ranges between 300-900,” and that “a score above 700 is generally considered good.” Bank of Baroda’s rates page says its home loan rate “is dependent upon Loan limit and CIBIL Score of the applicant/s,” and its FAQ adds that “CIBIL score is not to be calculated by Bank or Individual… Scoring is provided by the CIBIL.”

No RBI rule that Sachi checked sets a minimum CIBIL score for a home loan. Neither SBI’s nor HDFC Bank’s published pages state a minimum score either. Each lender sets its own cut-off and its own link between the score and the rate it offers you. Ask your lender in writing for its minimum score and its rate bands before you apply, and do not assume a single number applies everywhere.

Question	What Sachi found	Source
Is there a published score range?	300 to 900, with above 700 “generally considered good”	CIBIL’s own FAQ
Number of CICs in India	Four: TransUnion CIBIL, Equifax, Experian, CRIF High Mark	Credit Information Companies (Regulation) Act, 2005 (CIC framework)
Does the score change your rate?	Yes, at Bank of Baroda	Bank of Baroda rates tab
Is there an RBI minimum score for a home loan?	None found	RBI Directions checked this session; no minimum stated

Sachi could not confirm a free annual full-report rule on CIBIL’s own site or an RBI page this session, so this guide leaves that claim out. CIBIL’s own paid “Alerts” feature, from ₹999 for 6 months, notifies you of changes to your score, accounts or enquiries; Sachi found no RBI rule that makes this free. On data updates, RBI’s Credit Information Reporting Directions, 2025 (updated as on 1 July 2026) require a bank to send credit data to the CICs four times a month, on the 9th, 16th, 23rd and last day, with the full file due by the 5th of the next month. This is not the same as a single fortnightly figure.

3.15.6 How much does a home loan processing fee cost?

The processing fee depends on the lender, and most lenders add tax on top. SBI’s FAQ states its fee plainly: “Processing Fee applicable is 0.35% of the Loan Amount plus applicable GST,” with a “Minimum of Rs. 2000 + GST and Maximum of Rs. 10,000 + GST.” SBI adds that “out of pocket expenses like CERSAI charges and Professional fee for Legal Opinion and Valuation” are recovered separately. HDFC Bank’s fee depends on your income type. For a salaried or self-employed professional borrower, it is “Upto 0.50% of the loan amount or Rs. 4,000/- whichever is higher, plus applicable taxes.” For a self-employed non-professional, it is up to 1.50 percent with a minimum of ₹5,000, plus taxes. Neither bank’s page names the exact tax rate on its fee; both only say GST or “applicable taxes” apply.

Lender	Processing fee (bank’s own page)	Floor / cap
SBI	0.35% of loan amount + GST	Min ₹2,000 + GST; max ₹10,000 + GST
HDFC Bank, salaried or self-employed professional	Up to 0.50% or ₹4,000, whichever is higher, + taxes	No stated cap
HDFC Bank, self-employed non-professional	Up to 1.50%, + taxes	Minimum ₹5,000

Ask for the fee amount in writing before you pay, and check whether it is refundable if the loan is not sanctioned. The sanction letter guide covers what else the lender must disclose about fees once your loan is approved.

3.15.7 What is a pre-approved home loan, and is it a final sanction?

A pre-approved home loan is an in-principle limit the lender sets from your income, before you choose a flat. It is not a final sanction. SBI’s Pre-Approved Home Loan (PAL) page says it “provides sanction of Home Loan limits to the customers before finalization of the property which enables them to negotiate with the Builder/Seller confidently.” SBI’s FAQ confirms that a pre-approved loan is based “on your income and capacity to repay,” not on a specific flat. HDFC Bank calls this “an in-principal approval for a loan given on the basis of your income, creditworthiness and financial position,” and states that its own pre-approved loans are “generally” valid for 6 months from the date of sanction. Treat any pre-approval figure as a ceiling, not a guarantee.

The lender still checks the flat after you book it: the title, the builder’s approvals and a valuation. The final loan amount, rate and conditions appear only in the sanction letter that follows this check, not in the pre-approval.

3.15.8 What should a new-flat buyer check, step by step, and what are the red flags?

Check your documents and your credit record before you apply, not after a lender rejects you. Gather the KYC, income and property papers in one place before you walk into a branch or start an online application. SBI’s FAQ calls its own list “Tentative,” and HDFC Bank calls its list “indicative in nature,” so both banks can ask for more papers once they see your file. A missing property document for the flat causes the most delay for a new-flat buyer, because the builder, not you, holds some of these papers. Build in time to ask the builder for the allotment letter, the approved plan and the Occupancy Certificate well before your loan application. The steps below cover the order that avoids most delay, and the red flags that follow name what commonly causes a rejection or a lower loan amount.

1. Ask your lender for its current, written document checklist. Lists differ by bank, and HDFC Bank’s own page calls its list “indicative,” so more documents can be asked for.
2. Gather KYC: PAN (or Form 60) plus one OVD, such as Aadhaar proof, passport, voter ID or driving licence.
3. Gather income proof suited to your type: salary slips and Form 16 if salaried, or ITRs and audited accounts if self-employed.
4. Get the flat’s property papers from the builder: the allotment letter or agreement for sale, the approved plan, and the Occupancy Certificate if the flat is ready.
5. Check your own credit record with a CIC before you apply, so an error does not surprise you at sanction.
6. Compare at least two lenders’ processing fees and CIBIL-linked rate bands in writing.
7. Treat a pre-approval as a budget ceiling, and apply for the final sanction only after you book the flat.

Red flags to watch for: repeated hard credit enquiries in a short period from loan-shopping at many lenders at once; an existing loan you did not disclose, which the bank can still see in your credit report; and a builder’s project that your lender’s panel does not recognise or approve, which can slow or block your loan even if your own documents are in order.

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3.15.9 Does this apply if you are an NRI or buying a resale flat?

As an NRI, you give the same three document groups that this guide covers, plus NRI-specific papers that resident buyers do not need. Bank of Baroda’s checklist for NRI, PIO and OCI applicants adds a passport with a visa stamp, an overseas bank statement for the last 6 months, and the name and address of a local contact person in India. Lenders authorised to fund NRI buyers can also set different CIBIL and processing-fee terms, so confirm both in writing with your bank before you apply from abroad. For a resale flat, the property papers differ from a new-flat purchase. The bank asks for the seller’s full chain of past agreements, an Encumbrance Certificate and the latest property tax receipt, instead of the builder’s allotment letter and approvals. The KYC, income and CIBIL rules in this guide stay the same for a resale purchase.