SBI Home Loans
SBI has been voted in AWAAZ Consumer Awards as "THE MOST PREFERRED HOME LOAN PROVIDER" and also have been awarded as the MOST PREFERRED BANK in a survey conducted by TV 18 in association with AC Nielsen-ORG Marg in 21 cities across India. SBI Home Loans assures you by providing trust and transparency inherent in the tradition of State Bank of India.
SBI follows Best Practices therefore it is advantageous to do business with State Bank of India.
SBI Home Loans Unique Advantage-
- Processing Charges are low
- Offers exclusive benefits package.
- Interest rates are low and that too on daily reducing balance.
- No hidden costs or administrative charges.
- No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
- Over 15,969 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence.
- State Bank Rewards for Home Loan
HOME LOANS - INTEREST RATES With effect from 01.11.2016
|Borrowers' category||Home Loan (Term Loan)||EMI Per Lac for 30 year tenor(Upto Rs.75 lacs)||Home Loan (Max Gain)||CRE Max gain irrespective of loan amount|
|Loan Upto Rs.75 lacs||Loan above Rs.75 lacs||Maxgain above Rs. 20 lacs & upto Rs. 75 Lacs||Loan above Rs.75 lacs|
|Women||20 bps above 1 year MCLR, ER 9.10%p.a.||35 bps above 1 year MCLR, ER 9.25%p.a.||Rs. 812||35 bps above 1 year MCLR, ER 9.25%p.a||70 bps above 1 year MCLR, ER 9.60%p.a||90 bps above 1 year MCLR, ER 9.80%p.a|
|Others||25 bps above 1 year MCLR, ER 9.15%p.a.||40 bps above 1 year MCLR, ER 9.30%p.a.||Rs. 815||40 bps above 1 year MCLR, ER 9.30%p.a.||40 bps above 1 year MCLR, ER 9.30%p.a.||95 bps above 1 year MCLR, ER 9.85%p.a.|
- Woman should be the sole applicant or one of the co-applicants for Home Loan, and also
- The woman should be the sole owner or one of the co-owners of the property proposed to be financed by the Bank
Documents Required For SBI Home Loan
List of papers/ documents applicable to all applicants:
- Completed & signed loan application
- 3 Passport size photographs
- Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/IT PAN card)
- Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
- Proof of business address for non-salaried individuals
- Statement of Bank Account/ Pass Book for last six months
- Signature identification from present bankers
- Personal Assets and Liabilities statement
For guarantor (wherever applicable):
- Personal Assets and Liabilities Statement
- 2 passport size photographs
- Proof of identification as above
- Proof of residence as above
- Proof of business address as above
- Signature identification from his/her present bankers
Additional documents required for salaried persons:
- Original Salary Certificate from employer.
- TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt.
Additional documents required for Professionals/self- employed/ other IT assesses:
- Acknowledged copies of three years I.T. returns/ Assessment Orders.
- Photocopies of challans evidencing payment of Advance Income Tax.