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Axis Bank Home Loan Documents
Today, there are a number of avenues available for procuring a home loan; Axis Bank being in the forefront. Having said that, there are certain documents that you must present to the bank upfront. These documents assist the bank to ascertain the viability of extending the loan. One must make a checklist of all the documents required for home loan to make the process smooth and easy. Here is a list of documents that you would need to provide to Axis Bank along with your home loan application.
Income Proof: The bank asks a salaried person to provide salary slips for at least the past 3 months. If self employed, the bank requires you to provide the profit and loss statements for your business. In some cases, the bank can ask for these documents for an extended period (more than 3 months) to better gauge your earning profile. You should keep in mind that if your income has gone up considerably in the past year, you should have an explanation to prove it to be stable rather than just a one-time abnormality. If you fail to provide sufficient proof, your loan eligibility may be considered against a lower average income.
Bank Account Statements: The bank requires you to present the account statement for the last 6 months. In case of salaried individuals, account statements help the bank analyze the ratio between your income and expenses. And if you are self employed, your account statements help the bank to know the extent of your business activity.
Form 16 and Income Tax Return: As an additional proof of the income that you have earned and the amount of tax levied on it, the bank will ask you to provide Form 16 obtained from your employer for the past 3 years. If you are self employed, you are required to provide the income tax returns filed by you in the past 3 years.
Residence Proof: The bank will ask you to provide a proof of your current and permanent residence in order to both identify you and maintain correspondence in the future.
Identity Proof: In order to identify you as the loan applicant, the bank will ask you to provide a valid identity proof. This allows the bank to look into your credit history. Some of the documents that are considered to be valid proofs of identity are diving license, voter ID card, PAN card, passport, ration card, bank passbook, etc.
Passport Size Photographs: You will need to attach passport size photographs on the loan application. Usually, 2 to 3 passport size photographs are required by the bank.
Apart from the basic documents listed above, certain supporting documents may also be required. The bank would require you to submit the documents showing your ownership of the property in question. These would include documents like original sale agreement, registration receipt, copy of title deed, allotment letter, possession letter, lease agreement etc. In addition to these you may also be required to submit post dated cheques for your EMIs. Documents required for home loan may vary depending upon the current rules and regulations. But generally speaking, the bank would seek the above mentioned documents, so it is advised to arrange them upfront.
Payday Loans – Instant Approval, Instant Cash
Have you ever been through a cash emergency but haven’t had the money to tide you through it? Very often in our day to day lives, we find that our monthly paycheck just isn’t enough to cover all our expenses. Unforeseen expenses such as visits to the doctor’s office or a car breakdown can’t be factored into your monthly budget, since they can occur anytime. Seasonal spending (Christmas, family vacations) can also turn out to be more expensive than originally planned. When you need some quick cash to bridge the gap between adjacent paydays, payday loans can be of immense help to you.
A payday loan is essentially a short-term loan that is secured against your next paycheck. Payday loans provide an instant solution to your emergency cash requirement, with absolutely no hassles. Payday loans are gaining phenomenal popularity due their simplicity, flexibility, and most importantly, their speed. People are increasingly turning to payday loans as a source of instant cash to fulfill their instant cash requirements.
Unlike conventional bank loans which involve long lines and tedious paperwork, payday loans are easy to apply for, and provide you with the cash you need within a matter of hours. In order to apply for a payday loan, you need to be over 18 years of age and a resident of the United Kingdom. You should also be employed with a regular income, and have a current bank account with a debit card. Banks have extremely stringent lending criteria, and most often they don’t provide loans to those with a not-so-perfect credit history. You can secure a payday loan even if you have poor credit, provided you fulfill the basic criteria mentioned above.
The process of applying for a payday loan is fast and simple. All you have to do if fill up a five minute application form and wait for the approval decision. Once your approval comes through, the payday loan amount is directly deposited in your bank account on the same day. Payday loans are therefore one of the fastest and easiest ways to get some quick cash. You must remember, however that a payday loan is a short-term that may be used to cover for an emergency shortfall of cash. Payday loans should not be used to manage existing debt, or considered as a long-term solutions to your financial problems.