Resident Indians - You will be required to present the following documents:
Completed loan application form with one passport size photograph
Proof of individual’s identity (any one of the following)
Passport
Photo PAN card
Defence identity card
Voter's identity card
Driving licence
Photo ration card
Government identity card
Proof of residence (any one of the following)
Passport
Ration card
Telephone (land/mobile) bill
Electricity bill
Driving licence
Society outgoing bill
Voter's identity card
Life Insurance Policy
Only Passport can be used as both Proof of individual's identity and Proof of residence.
Proof of age (any one of the following)
Passport
Valid driving licence
Voter’s identity card
Birth certificate
School leaving certificate
LIC Policy or Premium receipt clearly indicating the applicant’s age
Letter from the employer stating the age of the employee
Photo ration card
Applicable only for employees of select Public Limited Companies. Conditions apply.
Financial documents Salaried individuals
Latest salary slip showing statutory deductions and Form 16 (Declaration from the employer giving the details of income and deductions, duly signed by an authorised signatory of the Company)
Latest acknowledged IT returns and Bank statements for the last 3 months
Self-employed individuals / Proprietor
Computation of income for the last 2 years certified by a C.A.
P&L and Balance sheet for the last 2 years certified by a C.A. and
Copies of acknowledged IT returns for the last 2 years. and
Bank statements for the last 6 months
Partnerships
Computation of income for the last 2 years certified by a C.A.
P&L and balance sheet for the last 2 years certified by a C.A.
Copies of acknowledged IT returns for the last 2 years
Partnership deed, letter of authority, bank statements for the last 6 months, Proof of office
Private Limited Companies
Computation of income for the last 3 years certified by a C.A.
P&L and balance sheet for the last 3 years certified by a C.A.
Copies of acknowledged IT returns for the last 3 years
Memorandum and Articles of Association
Board resolution
Bank statements for the last 6 months
Authority letter from all directors to accompany the application form with photographs of authorised signatories if not specified in the board resolution
Proof of office
NRIs - You will be required to present the following documents:
Salaried NRI Applicants
Copy of valid passport showing VISA stamps
Copy of valid visa / work permit / equivalent document supporting the NRI status of the proposed account holder
Overseas Bank A/C for the last 3 months showing salary credits
Self Employed NRI Applicants
Trade license or equivalent document
6 months overseas bank account statement and NRE/ NRO account
Computation of income, P&L account and Balance Sheet for last 3 years certified by the C.A. / CPA or any other relevant authority as the case may be (or equivalent company accounts)
Passport copy with valid visa stamp
Brief profile of the applicant and business
Processing Charges
1% of the loan amount applied for, subject to a minimum of Rs 5000 plus service tax. This fee is payable on application and is not refundable.
For Delayed installments on account of cheque, ECS or SI (standing instruction) dishonors
Rs 250 per instance
Duplicate Statements
Rs 250 per statement
Prepayment Charges
Up to 25% of the loan amount sanctioned every financial year
Nil
For amount in excess of 25% of the loan amount sanctioned
2% of amount prepaid
Note
Pre-payment is permitted after a minimum of 6 months following the loan disbursal. For processing prepayment requests, customers are required to send us a written instruction communicating their desire to prepay.
The interest rate on your floating rate loans are linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate.
Switching Charges
From Home loans to Smart Home or MyHOME and vice-a-versa
1.5% of the outstanding loan amount
From Fixed Rate to Floating Rate (Allowed only after completion of fixed term)
