State Bank of India claims that they are “THE MOST PREFERRED HOME LOAN PROVIDER” in India. They provide SBI Home Loan with unique advantages.
As per SBI, SBI Home Loan has Unique Advantages:
- Most of all, Processing Charges is low. And, interest rates on a daily reducing balance.
- Also, they provide Package of exclusive benefits.
- In addition, No hidden costs or administrative charges.
- And, There are no prepayment penalties.
- Over 15,969 branches nationwide, you can get your Home Loan account facility at a branch nearest to your present or proposed residence.
- Moreover, SBI offers Special rate of interest for Women borrowers.
SBI Home Loan Interest Rate wef 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.||75 bps above 1 year MCLR, ER 9.65%p.a.||95 bps above 1 year MCLR, ER 9.85%p.a.|
- To avail the benefits Special Interest Rates for women, Woman should be the sole applicant or one of the co-applicants for Home Loan, And
- The woman should be the sole owner or one of the co-owners of the property proposed to be financed by the Bank
Also Read : Home Loan- from HDFC
List of papers or documents applicable to all applicants:
- First of all, Completed loan application
- Your 3 Passport size photographs
- Identify Proof (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
- And, Address Proof (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
- Also, Proof of business address for non-salaried individuals
- In addition, Statement of Bank Account or Pass Book for last six months
- Signature identification from present bankers
- Also, Personal Assets and Liabilities statement
For guarantor (wherever applicable):
- Most of all, Personal Assets and Liabilities Statement
- 2 passport size photographs
- ID Proof as above
- And, Residence Proof as above
- Also, Proof of business address as above
- Along with Signature identification from his/her present bankers
In addition to the above, following additional documents are also required for salaried persons :
- Original Salary Certificate from employer; and
- TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt.
Also, additional documents required for Professionals/self- employed/ other IT assesses are:
- Acknowledged copies of three years I.T. returns/ Assessment years; and
- Photocopies of challans evidencing payment of Advance Income Tax.
Now, you can apply online for SBI Home Loan.
Recommended Read : How to Apply for a SBI Home Loan?