Bank Profile and Loan Eligibility
-
SBI is a public sector bank.
-
It is listed on BSE and NSE.
-
It was incorporated in 1995.
-
It is headquartered in Mumbai.
-
Any individual with Indian citizenship can apply.
-
Applicant should be above 18 years.
-
Maximum age - 70 years.
SBI Regular Home Loan Interest Rates
Processing Fee
-
0.40 % of the loan amount + applicable GST,
-
With a minimum of Rs.10,000/- and a maximum of Rs. 30,000/- plus GST.
Prepayment Charges
NIL
Overdraft Facility Available
Yes
Loan Limit
As per Relationship with Bank
Maximum Tenure
-
30 Years
Hidden Charges
-
No
Documents Required
Key Features
Late Payment Charges
Nil for loan of Rs.25000
2% p.a. for loan above Rs.25000
EBLR
External Benchmark
Lending Rate
Failed / Non Payment of EMI Charges
-
Rs.500 + GST per EMI missed.
Repayment Type
-
Equated Monthly Installments
Migration Fees to the New Structure
Fee of Rs. 1000/-* + taxes is applicable
Loan to Value Ratio
For Loan Upto 35 L:90%
For Loan 35 L-75L:80%
For Loan above 75L-75%
-
Identity Card for the Employer
-
Loan Application: Three passport-size pictures affixed to a completed loan application form.
-
PAN/ Passport/ Driver's License/ Voter ID card (or any other kind of identification)
-
Proof of Address/Residence (Any): a recent copy of a telephone bill, an electric bill, a water bill, or a piped gas bill, or a copy of a passport, a driver's licence, or an Aadhar card.
-
Construction permission (where applicable)
-
Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
-
Certificate of Occupancy (in case of ready to move property)
-
Maintenance Bill, Electricity Bill, and Share Certificate (only for Maharashtra).
-
Approved Plan Copies (Xerox Blueprints) & the Builder's Registered Development Agreement, Conveyance Deed (For New Property)
-
Payment Receipts or a bank statement detailing all payments made to the Builder/Seller.
-
Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s
-
If you have ever taken out a loan from another bank or lender, you must provide a loan account statement for the prior year.
-
Salaried Applicant/Co-applicant/Guarantor Income Proof:
-
-
Last three months' salary slip or salary certificate
-
Copy of Form 16 for the last two years or copy of IT Returns for the previous two fiscal years, acknowledged by the IT Department
-
Non-Salaried Applicant/Co-applicant/Guarantor
-
Proof of business address
-
IT returns for the previous three years
-
Last three years' balance sheet and profit and loss account
-
Information on the Business License (or equivalent)
-
Certificate of TDS (Form 16A, if applicable)
-
Qualification certificate (for C.A.s, doctors, and other professionals)
What We Did Not Like
-
Processing fee on website & MITC is different.
-
Too many documents are required.
MyRupaya Rating
.png)
Related Posts
