Home loan in 2026: Eligibility, RERA registration, OC requirements and documents explained

 

A home loan lets you borrow up to Rs. 15 crore* to buy a property, with interest rates starting from 7.25%* p.a. and tenures up to 32 years*. Check your eligibility and estimate your EMI before you apply.

In summary

A home loan is a secured loan issued by a bank or housing finance company against the property you are buying. In 2026, lenders evaluate your age, income, employment type, credit score, and existing debt before approving funds. Bajaj Finance offers home loans of up to Rs. 15 crore*, with interest rates starting from 7.25%* p.a. for salaried applicants, and EMIs from Rs. 671 per lakh*.

Beyond your personal eligibility, lenders also verify property-related documents - RERA registration for under-construction projects and an Occupancy Certificate (OC) for completed properties. This article covers who qualifies, what RERA and OC mean for your application, and which documents to keep ready.

Who can get a home loan in 2026?

Lenders look at a combination of personal and financial factors to decide whether to approve a home loan and at what rate.

Eligibility factor	Why it matters
Nationality	Confirms legal eligibility to own property
Age	Determines whether the loan can be repaid within the working years
Employment	Income stability varies by type: salaried, self-employed professional, or business owner
Monthly income	Sets a floor for repayment capacity
Credit score	Higher scores indicate lower default risk
Existing EMIs	Lenders calculate net disposable income after current obligations
Repayment capacity	Overall income minus expenses and EMIs determines the loan amount you are eligible for

Meeting the minimum criteria does not guarantee approval. Lenders also consider your disposable income after existing EMIs, any additional income sources, and your overall repayment capacity relative to the loan amount requested.

Why should you check RERA before applying for a home loan?

RERA registration tells you whether a project is legally authorised to be sold, and it can affect how smoothly your loan is processed.

Under Section 3 of the Real Estate (Regulation and Development) Act, 2016, a builder cannot advertise, book, or sell units in a project unless it is registered with the relevant State Real Estate Regulatory Authority. This applies to ongoing projects that had not received a Completion Certificate when the Act came into force.

Each phase of a phased development must be registered separately, as each phase is treated as an independent project. Registration is generally not required for plots up to 500 sq. metres, projects with 8 or fewer apartments, projects that received a Completion Certificate before the Act commenced, or renovation work that does not involve fresh sales.

For lenders, RERA registration indicates that the project is legally authorised and that regulatory timelines are being monitored. It does not replace the lender's own legal and technical checks, but it does form part of the project's compliance file.

If you are applying for a home loan in Bangalore for an under-construction apartment, checking the Karnataka RERA portal before paying your booking amount can help you confirm the project's registration number, builder credentials, and approved layout plan.

Check	Why it matters
RERA registration number	Confirms the project is legally authorised to be sold
Builder details	Lets you verify the developer's track record and standing
Layout approval	Confirms the building plan matches what is being sold
Completion timeline	Tells you the committed delivery date and any extensions

 

When do you need an Occupancy Certificate for a home loan?

An Occupancy Certificate (OC) is a document issued by the local municipal authority confirming that a completed building meets approved plans and is fit for occupation.

For a lender, the OC confirms that construction is legally complete, that the building complies with sanctioned plans, and that the property is safe to occupy. It reduces the legal risk of financing a property that may have construction or compliance issues.

An OC is commonly required for:

• Ready-to-move-in flats
• Resale properties (old flats and houses)
• Completed independent houses
• Newly constructed properties where the builder has received the completion order

An OC alone does not guarantee loan approval. If your income, credit score, title documents, or other underwriting conditions are not satisfactory, the lender can still decline the application.

What documents should you keep ready?

Borrower documents

Document	Who needs it	Why
PAN card	All applicants	Mandatory KYC requirement
Aadhaar card	All applicants	Identity and address verification
Passport/ voter ID /driving licence	All applicants	Alternative address proof
Latest salary slips (3 months)	Salaried applicants	Proof of current income
Form 16	Salaried applicants	Annual income and tax summary
ITR (last 2 years)	Self-employed applicants	Income declared for tax purposes
Profit and Loss statement (last 2 years)	Self-employed applicants	Business income verification
Bank statements (last 6 months)	All applicants	Cash flow and existing liability check
Proof of business vintage (5+ years)	Self-employed applicants	Business stability verification

Property documents

Document	Purpose
Sale agreement	Confirms the transaction terms between buyer and seller
Title deed	Establishes legal ownership of the property
Approved building plan	Confirms construction is within sanctioned limits
Encumbrance Certificate (EC)	Shows whether the property has any existing liabilities
Property tax receipts	Confirms tax compliance by the current owner
NOC from society or builder	Confirms no objection to the transfer of ownership
Occupancy Certificate (OC)	Required for completed properties
Possession Certificate	Confirms handover of possession to the buyer
Seller's loan account statement	Required for resale properties where the seller has an active loan

Documentation requirements may vary depending on your applicant profile, the property type, and the underwriting stage. Additional documents may be requested during processing.

How does a home loan application work?

1. Check eligibility

Checking eligibility before you apply helps you set a realistic loan amount and avoid unnecessary credit enquiries.

Factor	Bajaj Finance requirement
Nationality	Indian citizen residing in India
Age	23-65 (salaried); 23-70 (self-employed) at loan maturity
Credit score	725 or above preferred
Minimum monthly income	Rs. 25,000 (salaried)
Work experience	3 years minimum (salaried)
Business vintage	5 years minimum (self-employed)

2. Estimate your EMI

Use a home loan EMI calculator - entering your loan amount, interest rate, and tenure - to model different repayment scenarios. Bajaj Finance offers EMIs starting from Rs. 671 per lakh*. 

3. Gather your documents

Use the borrower and property document tables in the section above to prepare your file. Salaried applicants need salary slips and Form 16; self-employed applicants need ITR and a P&L statement. All applicants need KYC documents and the last 6 months of bank statements.

4. Verify RERA and property records

Confirm the project's RERA registration (where applicable) and check that the title, approvals, and EC are in order before submission.

5. Apply for a Bajaj Finance home loan online

1. Click 'APPLY' on the Bajaj Finance Home Loan page.
2. Enter your full name, mobile number, and employment type.
3. Select the type of loan you are applying for.
4. Generate and submit your OTP to verify your phone number.
5. Enter your monthly income, required loan amount, and property details.
6. Enter your date of birth, PAN, and other details based on your occupation type.
7. Click 'SUBMIT'. A Bajaj Finance representative will then contact you with the next steps.

6. Property verification

Bajaj Finance conducts independent legal and technical checks on the property as part of the approval process. 

7. Loan approval and disbursal

You can apply online, with approval in 48 hours* of document submission - in some cases sooner. Bajaj Finance offers doorstep document collection, so you do not need to visit a branch. With over 5,000 approved projects, loan processing for properties on the approved list can move faster.

Why borrowers compare home loan features carefully

Not every loan offer is the same. These are the factors worth reviewing before you commit.

Feature	Why it matters
Interest rate type	Fixed rates give EMI certainty; floating rates may reduce costs if repo rates fall
Tenure	Longer tenures lower EMI but raise total interest; shorter tenures do the reverse
Prepayment	For individual borrowers on a floating rate, there are no prepayment or foreclosure charges
Processing fee	Up to 4% of the loan amount plus GST - worth factoring into the total cost
Balance transfer	Transferring to a lender with a lower rate can reduce overall interest outgo
Top-up option	A top-up loan provides additional funds without a fresh property assessment

Bajaj Finance offers home loans of up to Rs. 15 crore*, with a tenure of up to 32 years*. Balance transfers are available with rates starting from 7.30%* p.a., and eligible borrowers can access a top-up of up to Rs. 1 crore* on transfer.

Sorting out your documents and checking project approvals before you apply can reduce delays at every stage. You can start by checking your eligibility, estimating your EMI on the Bajaj Finance Home Loan EMI Calculator, and reviewing loan options on the Bajaj Finance Home Loan page.