SBI Home Loan by the 1 great SBI

SBI Offers many different types of loans under the SBI home loan category. which we will discuss here. We had taken the help of the SBI Home loan website for writing this post so complete credit of this post goes to the SBI Home Loan Website.

Table of Contents

Regular Home Loan under SBI home loan

SBI Home Loans is the country’s largest mortgage lender. It has aided over 30 lakh families in realizing their dream of buying a home.

In a poll conducted by TV 18 in cooperation with AC Nielsen-ORG 21 cities across India, “THE MOST PREFERRED HOME LOAN PROVIDER” was voted in the AWAAZ Consumer Awards with “THE MOST PREFERRED BANK AWARD.” SBI Home Loans are founded on a solid foundation of trust and transparency, as is SBI’s custom. It contains alternatives for purchasing ready-to-move-in property, under-construction property, pre-owned homes, house construction, house extension, and repair/renovation.

Main Features of this category of SBI Home loans

• A wide range of sbi home loan packages to meet the needs of all customers

• Interest Rates That Are Low

• Low-cost processing

• There are no hidden fees.

• There is no penalty for paying in advance.

• Daily Reducing Balance Interest Charges

• Repayment period of up to 30 years

• SBI Home loan can be used as an overdraft

• Women Borrowers Get a Discount on Interest

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Minimum Age Requirement: 18 years

• The maximum age is 70 years old.

• Loan duration: up to 30 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Identification Card for Employers

• Loan Application: 3 passport-size pictures affixed to a completed loan application form.

• Any kind of identification: PAN, passport, driver’s license, or voter ID card

• 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 license, or an Aadhar card

Papers Concerning Real Estate:

• Construction permission (where applicable)

• Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale (only for Maharashtra)

• Certificate of Occupancy (in case of ready to move property)

• Share Certificate, Maintenance Bill, Electricity Bill, and Property Tax Receipt (only for Maharashtra)

• Approved plan copy (Xerox Blueprint) and 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.

Statement of Accounts:

• Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s

• Loan A/C statement for the preceding year if any previous loan from other Banks/Lenders

Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Last three months’ salary slip or salary certificate

• Copy of Form 16 for the previous two years or copy of IT Returns for the previous two fiscal years, acknowledged by the IT Department

Non-Salaried Applicant/Co-applicant/Guarantor Income Proof:

• 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 licence (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Qualification certificate (for C.A.s, doctors, and other professionals)

SBI Home Loans

SBI Home Loan Balance Transfer

Switching your home loan to SBI can save you a lot of money!

SBI offers Home Loan Balance Transfer, which allows customers to transfer home loans from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB), and Borrower’s Employers if they are Central/State Government or their undertakings or Public Sector Undertakings, subject to the condition that the borrower meets the eligibility requirements. The borrower must have appropriate paperwork proving ownership of the home or apartment.

Main Features for this category of SBI Home loans

• Interest Rates That Are Low

• There are no hidden fees.

• There is no penalty for paying upfront.

• Daily Reducing Balance Interest Charges

• SBI Home loan can be used as an overdraft

• Women Borrowers Get a Discount on Interest

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Minimum Age Requirement: 18 years

• The maximum age is 70 years old.

• Lengthened Loan Term

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Identification Card for Employers

• Loan Application: A completed Loan Application form with three passport-size pictures is required.

• Any kind of identification: PAN, passport, driver’s license, or voter ID card

• Proof of Address/Residence (Any): Copy of a recent telephone bill, electric bill, water bill, or piped gas bill, or a copy of a passport, driver’s license, or Aadhar card

Papers Concerning Real Estate:

• Approval from the Society/Builder

• Purchase agreement that has been registered

• Certificate of Occupancy

• Share Certificate (Maharashtra only), Maintenance Bill, Electricity Bill, and Property Tax Receipt

• A list of all previous agreements for sale in a chain

Statement of Accounts:

• Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s

Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Last three months’ salary slip or salary certificate

• Copy of Form 16 for the previous two years or copy of IT Returns for the previous two fiscal years, acknowledged by the IT Department

Non-Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Proof of business address

• IT returns for the previous three years

• Last three years’ balance sheet and profit and loss account

• Information on your business license (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Qualification certificate (for C.A.s, doctors, and other professionals)

Documents from a different bank:

• A list of original documents in the Bank’s possession

• Last year’s loan account statement

• Letter of Sanction

• Security for the Interim Period

SBI Home Loan Rates on 1st August 2021

This video was in creative commons on 8th September 2021. The credit of this video goes to the Indian Banker Channel.

NRI Home Loan Under SBI Home Loan

Non-Resident Indians can get closer to home with SBI NRI Home Loans.

Many NRIs (Non Resident Indians) can acquire an SBI home loan through SBI NRI Home Loan when they invest in real estate. Financially, it makes more sense to buy a home with a SBI home loan rather than with personal funds, especially if you can put your personal savings to greater use elsewhere.

Main Features for this category of SBI Home loans

• Low Interest Rates • Low Processing Fee • No Hidden Fees • No Prepayment Penalty • Interest Charges on Daily Reducing Balance • Repayment up to 30 years • SBI Home Loan Available as Overdraft • Women Borrowers Eligibility

Eligibility for this category of SBI Home loans

• Minimum Age: 18 years • Maximum Age: 60 years • Loan Tenure: up to 30 years • Non Resident Indians (NRIs) or Persons of Indian Origin (PIOs)

• Amount of Loan: To learn more, go to this page.

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Affidavit of Employment • Attested copy of valid passport and visa

• Proof of address, including the present abroad address

• A copy of the applicant’s Continuous Discharge Certificate (CDC) if they worked in the merchant navy.

• The Government of India has issued a PIO Card. (If you’re a PIO)

•Documents may be attested by FOs/Rep. Offices, Indian embassies/consulates, Overseas Notaries Public, or officials of Indian branch/sourcing outfits.

• Loan Application: A completed loan application form with three passport-size pictures is required.

• Any kind of identification: PAN, passport, driver’s licence, or voter ID card

• Proof of residence/address (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.

Papers Concerning Real Estate:

• Construction permission (where applicable)

• Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale (only for Maharashtra)

• Certificate of Occupancy (in case of ready to move property)

• Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt (For New Property)

• Payment Receipts or a bank account statement documenting all payments made to the Builder/Seller:

• Bank account details for the preceding 6 months, including salary and savings, as well as any Indian accounts, if any; and, if any previous loans from other banks/lenders, a loan A/C statement for the previous year.

Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Last three months’ salary certificate/slip • Last six months’ Bank Statement indicating salary credit • Valid work visa • Employment contract – an English translation duly attested by employer/ consulate/ our foreign office / Embassy in case it is in any other language

• Original and copy of current employer’s identity card • Duly acknowledged copy of previous year’s Individual Tax Return, with the exception of NRIs/PIOs in Middle Eastern countries and personnel in the Merchant Navy.

Non-Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Proof of business address • Proof of income for self-employed professionals and businessmen

• Individual tax returns for the previous two years, except for NRI/PIOs in Middle Eastern nations, which must have their balance sheets and profit and loss accounts audited/certified by a C.A.

• Bank statement from an overseas account in the name of the individual as well as the company/unit for the last six months.

SBI Flexipay Home Loan under SBI Home Loan

Don’t let your current income keep you from acquiring the home of your dreams.

Only salaried borrowers are eligible for a larger loan amount under the SBI Flexipay Home loan. Customers can pay only interest during the moratorium (pre-EMI) period and then pay reduced EMIs after that. In the coming years, the EMIs will be increased. This SBI home loan option is ideal for young professionals. The SBI Flexipay home loan has the potential to attract a sizable portion of the house loan market.

Main Features for this category of SBI Home loans

• 20 percent higher SBI home loan eligibility • Interest charges on daily reducing balance • Repayment up to 30 years • Interest Concession for Women Borrowers • Low Interest Rates • Low Processing Fee • No Hidden Charges • No Pre Payment Penalty

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Minimum age to apply for a loan: 21 years; maximum age to apply for a loan: 45 years; maximum age to repay: 70 years

• Loan duration: up to 30 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Employer Identification Card (EID) • Loan Application (Loan): 3 passport-size pictures and a completed loan application form

• Identity Proof (Anyone):

• Proof of Residence/Address (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card 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

Papers Concerning Real Estate:

• Construction permission (where applicable)

• Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale (only for Maharashtra)

• Certificate of Occupancy (in case of ready to move property)

• Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt (For New Property)

• Payment Receipts or a bank account statement documenting all payments made to the Builder/Seller:

• Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s

• Loan A/C statement for the preceding year if any previous loan from other Banks/Lenders

Income Salaried Applicant/Co-applicant/Guarantor Proof:

• Copy of Form 16 for the previous two years or copy of IT Returns for the previous two financial years, acknowledged by the IT Department

SBI Privilege Home Loan under SBI Home Loan

SBI Privilege Home Loan is an SBI home loan created specifically for government employees.

SBI has introduced the SBI Privilege Home Loan, which is available only to government personnel. Individuals with pensionable service who work for the Central or State Government, including PSBs, PSUs of the Central Government, and other government employees, are eligible to qualify for this house loan. The loan amount will be calculated by factors such as the applicant’s income and repayment capacity, age, assets and obligations, and the cost of the planned house/flat, among others.

Main Features for this category of SBI Home loans

• Low Interest Rates • No Processing Fee • No Hidden Fees • No Prepayment Penalty • Interest Charges on Daily Reducing Balance • Repayment up to 30 years • Interest Concession for Women Borrowers

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Loan Tenure: up to 30 years • Minimum Age: 18 years • Maximum Age: 75 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Employer identity Card (EID) • Loan Application (Loan): 3 passport-size pictures affixed to a fully completed loan application form

• Identity Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card 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

Papers Concerning Property:

• Construction permission (where applicable)

• Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale (only for Maharashtra)

• Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the Builder, Conveyance Deed (For New Property)

• Payment Receipts or a bank account statement documenting all payments made to the Builder/Seller:

• Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s

• Loan A/C statement for the preceding year if any previous loan from other Banks/Lenders

Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Copy of Form 16 for the previous two years or copy of IT Returns for the previous two financial years, acknowledged by the IT Department

Non-Salaried Co-applicant/Guarantor Income Proof:

• Business address proof • IT returns for the previous three years • Balance Sheet & Profit & Loss A/c for the previous three years • Business License Information (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Qualification certificate (for C.A.s, doctors, and other professionals)

SBI Flexipay home loan

Note:- This video was in creative commons on 8th September 2021. The Credit of this video goes to the Indian Banker Channel.

SBI Shaurya Home Loan Under SBI Home Loan

Give us the opportunity to serve you while you serve the nation.

The SBI Shaurya Home Loan scheme is dedicated to the nation’s Army and Defense Personnel. Only defence personnel will be eligible for this special SBI home loan programme. Only defence personnel applicants will be eligible for the SBI Shaurya Home Loans, which will feature lower interest rates and other extra perks. Aside from lower interest rates on SBI home loans, military personnel will have more flexible repayment options and may be eligible for a longer loan repayment duration.

Main Features for this category of SBI Home loans

• Low Interest Rates • No Processing Fee • No Hidden Fees • No Prepayment Penalty • Interest Charges on Daily Reducing Balance • Repayment up to 30 years • Interest Concession for Women Borrowers

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Loan Tenure: up to 30 years • Minimum Age: 18 years • Maximum Age: 75 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Employer identity Card (EID) • Loan Application (Loan): 3 passport-size pictures affixed to a fully completed loan application form

• Identity Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card 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

Papers Concerning Property:

• Construction permission (where applicable)

• Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale (only for Maharashtra)

• Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the Builder, Conveyance Deed (For New Property)

• Payment Receipts or a bank account statement documenting all payments made to the Builder/Seller:

• Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s

• Loan A/C statement for the preceding year if any previous loan from other Banks/Lenders

Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Copy of Form 16 for the previous two years or copy of IT Returns for the previous two financial years, acknowledged by the IT Department

Non-Salaried Co-applicant/Guarantor Income Proof:

• Business address proof • IT returns for the previous three years • Balance Sheet & Profit & Loss A/c for the previous three years • Business License Information (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Qualification certificate (for C.A.s, doctors, and other professionals)

Pre-Approved Home Loan under SBI home loan

Before you pick a property, make sure you have a house loan in place.

Customers who apply for an SBI Pre-approved loan (PAL) will be authorised for an SBI Home Loan sanction before the property is finalised, allowing them to confidently bargain with the Builder/Seller. The loan eligibility will be determined based on the applicant’s income information. At the time of sanction, a non-refundable processing fee for the SBI Home Loan will be collected.

Main Features for this category of SBI Home loans

• Low Interest Rates • Low Processing Fee • No Hidden Fees • No Prepayment Penalty • Interest Charges on Daily Reducing Balance • 30-Year Repayment

• Interest Concession for Women Borrowers • SBI Home Loan Available as Overdraft

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Loan Tenure: up to 30 years • Minimum Age: 18 years • Maximum Age: 70 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Employer identity Card (EID) • Loan Application (Loan): 3 passport-size pictures affixed to a fully completed loan application form

• Identity Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card Copy of a recent telephone bill, electric bill, water bill, or piped gas bill, or a copy of a passport, driver’s licence, or Aadhar Card account statement:

• Bank Account Statements for the previous six months for all bank accounts owned by the applicant/s

• Loan A/C statement for the preceding year if any previous loan from other Banks/Lenders

Salaried Applicant/Co-applicant/Guarantor Income Proof:

• Copy of Form 16 for the previous two years or copy of IT Returns for the previous two financial years, acknowledged by the IT Department

Non-Salaried Co-applicant/Guarantor Income Proof:

• Business address proof • IT returns for the previous three years • Balance Sheet & Profit & Loss A/c for the previous three years • Business License Information (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Qualification certificate (for C.A.s, doctors, and other professionals)

SBI Realty Home Loan under SBI Home Loan

Make your ideal home a reality by building it from the ground up.

SBI Realty offers customers the option of purchasing a plot for the construction of a housing unit. Within five years of the loan being approved, the house should be built. The customer can also take out a second Home Loan to build a house on a site backed by SBI Realty. The maximum loan amount that can be granted to a customer is Rs. 15 crores, with a repayment period of 10 years.

Main Features for this category of SBI Home loans

Low Interest Rates • Low Processing Fee • No Hidden Fees • No Prepayment Penalty • Interest Charged on Daily Reducing Balance

• Repayment period of up to ten years

Women Borrowers Get a Discount on Interest

Eligibility for this category of SBI Home loans

• Type of Residency: Indian Residency

• Loan Tenure: up to 10 years • Minimum Age: 18 years • Maximum Age: 65 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Proof of identity (photocopies of voter identification cards, passports, driving licences, and IT PAN cards) • Proof of residence (photocopies of recent telephone bills, electricity bills, property tax receipts, passports, and voter identification cards) • Proof of business address for non-salaried individuals

• Signature identification from current bankers • Statement of Bank Account/Pass Book for the previous six months

• Statement of Personal Assets and Liabilities

In the case of a guarantor (where applicable):

• 2 passport-size pictures • Personal Assets and Liabilities Statement

• Above-mentioned proof of identification • Above-mentioned proof of residence • Above-mentioned proof of business address

• His/her current bankers’ signature identification

For salaried individuals, further documents are required:

• TDS certificate on Form 16 or copy of IT Returns for the previous two financial years, fully acknowledged by IT Dept. • Original Salary Certificate from Employer

Professionals/self-employed/other IT assessors must submit additional documents:

• Accepted copies of three years’ worth of I.T. returns/Assessment Orders.

• Photocopies of challans proving Advance Income Tax payment

SBI Home Top-up Loans under SBI Home Loan

SBI Home Top-Up Loans will help you unlock the value of your home.

Customers of SBI can take out a “SBI Home Top Up Loan” to borrow customer above and beyond their home loan amount. Customers who already have an SBI home loan but desire additional funds can apply for Home Top up loans. It is available for any personal use. The interest rates are significantly lower than those of a typical personal loan.

Main Features for this category of SBI Home loans

Low Interest Rates • Low Processing Fee • No Hidden Fees • No Prepayment Penalty • Interest Charged on Daily Reducing Balance

• Repayment up to 30 years with a home loan as an overdraft

Eligibility for this category of SBI Home loans

• Resident Indians and Non-Resident Indians

• Loan Tenure: up to 30 years • Minimum Age: 18 years • Maximum Age: 70 years

• Click Here for the Loan Amount

Required Documents for this category of SBI Home loans

All applicants must submit the following papers/documents:

• Proof of identity (photocopies of voter identification cards, passports, driving licences, and IT PAN cards) • Proof of residence (photocopies of recent telephone bills, electricity bills, property tax receipts, passports, and voter identification cards) • Proof of business address for non-salaried individuals

• Signature identification from current bankers • Statement of Bank Account/Pass Book for the previous six months

• Statement of Personal Assets and Liabilities

In the case of a guarantor (where applicable):

• 2 passport-size pictures • Personal Assets and Liabilities Statement

• Above-mentioned proof of identification • Above-mentioned proof of residence • Above-mentioned proof of business address

• His/her current bankers’ signature identification

For salaried individuals, further documents are required:

• TDS certificate on Form 16 or copy of IT Returns for the previous two financial years, fully acknowledged by IT Dept. • Original Salary Certificate from Employer

Professionals/self-employed/other IT assessors must submit additional documents:

• Accepted copies of three years’ worth of I.T. returns/Assessment Orders.

• Photocopies of challans proving Advance Income Tax payment

SBI Home loans for Smart Home Top-up

In minutes, you can walk out of your local Branch/RACPC with a Home Top-Up Loan. There are no documents necessary!

SBI Smart Home Top Up Loan is a general purpose loan designed to help you fulfil your immediate financial needs, such as schooling, marriage, health care, home repair/renovation/furnishing, and so on. The best aspect is that you may get the loan by simply walking into the nearest branch/RACPC. Isn’t it clever?

Main Features for this category of SBI Home loans

• Low processing fee • No hidden fees • No documents required • Quick processing • No prepayment penalty • Available as an overdraft

Eligibility for this category of SBI Home loans

• Minimum Age: 18 years • Maximum Age: 70 years • Loan Tenure: up to 20 years • Resident Type: Resident Indian & NRI

• Maximum loan amount: Rs. 5 lakhs

• No additional Home Top-up or Insta Home Top-up loans should be active once the moratorium is over • CIBIL Score of 550 or above • Satisfactory repayment track record of 1 year or more after the moratorium is completed

SBI YONO Home Loan under SBI Home Loan

Top-Up No-hassle Instant Home Loan Top-Up for Eligible Existing Home Loan Customers!

YONO Insta Home Top-Up Loan is a facility provided through the YONO Mobile App to our pre-selected Home Loan customers.

Main Features for this category of SBI Home loans

• Three simple steps to obtain

• Immediate Payment

• It can be used for any purpose other than speculating • It has a low interest rate • It is available as an overdraft • It is a fully digital product with no manual interaction • It requires no paperwork or branch visits • It is available 24 hours a day

Eligibility for this category of SBI Home loans

• Customers are pre-selected based on a variety of credit criteria such as on-time repayment, residual loan tenure, and so on.

•To contact us, please send an email to feedback.yono@sbi.co.in or call 1800 11 1101.

Required Documents for this category of SBI Home loans

No documentation is required.

Information related to SBI Yono loan on 8th September 2021

Note:- This video was in creative commons on 8th September 2021. The Credit of this video goes to the Indian Banker Channel.

SBI Corporate Home Loans under SBI Home Loan

To provide Home Loans to Corporate Entities (both Public and Private Limited Companies) for the purpose of constructing/acquiring Residential Units in the Company’s name for the use of its Directors/Promoters and Employees, and for the purpose of assuming Home Loans in the Company’s name from other Banks/HFCs, subject to compliance with our existing Take-over of Home Loans norms.

Features for this category of SBI Home loans

• Low interest rates • Low processing fees

Eligibility or criteria for this category of SBI Home loans

Corporate Entities that meet the following criteria: • Must be an existing borrower or a debt-free company; • Must have been in business for at least three years; • Must have earned uninterrupted net profit for the last three years; • Existing loan accounts of the company, if any, must be regular and standard; and • Must not have been restructured during the last three years. The existing bankers, if any, will be obtained for an opinion report.

• ECR of BBB or better for units with a total exposure of Rs.10 crores or more • CRA of SB-8 or better for both existing and new SME/C&I customers. CRA will be determined using the most recent audited balance sheet of the SPV/Subsidiary of Corporate Entities would also be eligible to apply for a loan under this Scheme if the Parent Company meets the above-mentioned eligibility criteria.

• The Parent Company consents to act as a Guarantor for the Home Loan.

• The SPV/Subsidiaries’ expected cash flow is sufficient to settle the EMIs, or the Parent Company agrees to service the Home Loan in addition to guaranteeing the loan.

Required Documents for this category of SBI Home loans

Documents applicable to SME/C&I loans.

SBI Home loan for Non-Salaried Individuals – Unique Offerings

SBI Home Loans for Self-Employed Individuals!

This product is developed exclusively for self-employed individuals and provides the best possible value on home loans. Home Loans for the purpose of building or acquiring a residential house/flat, consolidating existing home loans from other banks/HFCs, or repairing/renovating an existing house/flat.

Main Features for this category of SBI Home loans

• A variety of home loan products to meet the customers of every customer

• Competitive Interest Rates • Low Processing Fees • No Hidden Fees • Interest on Daily Reducing Balances

• Repayment period of up to 30 years

Eligibility for this category of SBI Home loans

• Type of Resident: Resident Indian

• Wherever the applicant is the proprietor of a proprietorship firm, a partner in a partnership firm, or a director in a company, the proprietorship firm/partnership firm/partnership firm/company:

1. Must have been in operation for at least three years.

2. Must have generated a profit in the preceding two years

3. If there are any existing credit facilities, they should be Regular and Standard. The existing bankers will provide an opinion report in this regard.

4. Where the proposed House Property is acquired jointly by the Proprietor and the Proprietary Firm, the Proprietary Firm must be an existing borrower or a debt-free organisation.

• Minimum Age Requirement: 18 years

• Maximum loan term of 30 years.

• Loan Amount: Rs. 50,000/- to Rs. 50 crores.

Required Documents for this category of SBI Home loans

The following is a list of papers/documents that are required of all applicants:

• Loan Request: Completed loan application form with three passport-size pictures affixed

• Identification Proof (Anyone): PAN/Passport/Driving License/Voter Identification Card

• Proof of Residence/Address (Any of the following): A recent copy of a telephone bill, an electric bill, a water bill, or a piped gas bill, or a passport, a driver’s licence, or an Aadhar card.

Property Documents :

• Construction authorization (where applicable)

• Registered Sale Agreement (exclusive to Maharashtra)/Allotment Letter/Stamped Sale Agreement

• Occupancy Certificate (in the case of a ready-to-move-in property); • Share Certificate (only in Maharashtra); • Maintenance Bill, Electricity Bill, and Property Tax Receipt; • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the builder; (For New Property)

• Payment Receipts or bank account statements demonstrating all payments made to the Builder/Seller Account Statement:

• Bank Account Statements for the preceding six months for all bank accounts owned by the applicant/s

• If you have ever taken out a loan from another bank/lender, you must provide a loan account statement for the prior year.

Income proof for Self-Employed Applicant/Co-Applicant/Guarantor :

SBI Tribal Plus Home Loan under SBI home loan

This loan is given to hilly/tribal communities. SBI Tribal + Home Loans can be used to purchase or construct a new house or flat (without mortgage of the land), to purchase an existing (old) house or flat that is less than ten years old, or to repair, renovate, or extend an existing house or flat. This scheme is offered at all SBI branches located in the above-mentioned areas.

Main Feature for this category of SBI Home loans

• Home Loans for residents of hilly/tribal areas

• No land mortgage required • Repayment up to 15 years • Loans made with Third-Party Guarantee • Interest Concession for Women Borrowers • Low-Interest Rates • Low Processing Fee • No Hidden Charges • No Pre Payment Penalty

Eligibility for this category of SBI Home loans

• Type of Resident: Resident Indian

• Age Requirement: 21 years • Maximum Age Requirement: 60 years • Loan Term: up to 15 years

• Maximum Loan Amount: Rs. ten lakhs

Required Documents

The following is a list of papers/documents that are required of all applicants:

• Employer Identification Card Completed loan application form with three passport-size pictures affixed

• Identification Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/Passport/License/Voter Driver’s ID card A recent copy of a telephone bill, an electric bill, a water bill, or a piped gas bill, or a passport, a driver’s license, or an Aadhar card.

Property Documents:

• Construction authorization (where applicable)

• Registered Sale Agreement (exclusive to Maharashtra)/Allotment Letter/Stamped Sale Agreement

• Occupancy Certificate (in the case of a ready-to-move-in property); • Share Certificate (only in Maharashtra); • Maintenance Bill, Electricity Bill, and Property Tax Receipt; • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the builder; (For New Property)

• Receipts for Payments or bank account statements detailing all payments made to the Builder/Seller Account Statement:

• Bank Account Statements for the preceding six months for all bank accounts owned by the applicant/s

• If you have ever taken out a loan from another bank/lender, you must provide a loan account statement for the prior year.

Proof of Salary for Salaried Applicant, Co-applicant, or Guarantor:

• Salary Slip or Salary Certificate for the preceding three months • Copy of Form 16 for the preceding two years or copy of IT Returns for the preceding two fiscal years, acknowledged by the IT dept

Income proof for Self-Employed Applicant/Co-Applicant/Guarantor:

• Proof of business address • IT returns for the last three years • Balance Sheet & Profit & Loss Accounts for the last three years (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Certificate of Qualification (for Certified Accountants, Physicians, and other professionals)

Reverse Mortgage Loan under SBI Home Loan

After a lifetime of work and family raising, you deserve a comfortable retirement.

SBI Reverse Mortgage Loans provide an additional source of income for senior citizens in India who own or rent a home in the country. This product is advantageous for senior citizens who lack the financial means to support themselves. The Bank makes payments to the borrower /borrowers (in the case of cohabiting spouses) in exchange for the mortgage on his / their primary residence. The borrower is not required to make any payments on the loan during his or her lifetime.

Main Features

Features include the following: • Low interest rates • Low processing fees • No hidden fees • No prepayment penalty

Eligibility for this category of SBI Home loans

• Type of Resident: Resident Indian

• Minimum Age: 60 years if the borrower is a single person. In the case of joint borrowers, the spouse’s age must exceed 58 years.

• Loan Term: 10-15 years, depending on the borrower’s age

• Maximum Loan Amount: Rs. 1 crore; Minimum Loan Amount: Rs. 3 lakhs

Required Documents

The following is a list of papers/documents that are required of all applicants:

• Employer Identification Card Completed loan application form with three passport-size pictures affixed

• Identification Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/Passport/License/Voter Driver’s ID card A recent copy of a telephone bill, an electric bill, a water bill, or a piped gas bill, or a passport, a driver’s licence, or an Aadhar card.

Property Documents:

• Construction authorization (where applicable)

• Registered Sale Agreement (exclusive to Maharashtra)/Allotment Letter/Stamped Sale Agreement

• Occupancy Certificate (in the case of a ready-to-move-in property); • Share Certificate (only in Maharashtra); • Maintenance Bill, Electricity Bill, and Property Tax Receipt; • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the builder; (For New Property)

• Receipts for Payments or bank account statements detailing all payments made to the Builder/Seller Account Statement:

• Bank Account Statements for the preceding six months for all bank accounts owned by the applicant/s

• If you have ever taken out a loan from another bank/lender, you must provide a loan account statement for the prior year.

Proof of Salary for Salaried Applicant, Co-applicant, or Guarantor:

• Salary Slip or Salary Certificate for the preceding three months • Copy of Form 16 for the preceding two years or copy of IT Returns for the preceding two fiscal years, acknowledged by the IT dept

Income proof for Self-Employed Applicant/Co-Applicant/Guarantor:

• Proof of business address • IT returns for the last three years • Balance Sheet & Profit & Loss Accounts for the last three years (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Certificate of Qualification (for Certified Accountants, Physicians, and other professionals)

SBI Home Loan with SBI CRE (Commercial Real Estate)

Are you looking for your next residential investment?

Maximum number of Home Loans in an individual’s name, including existing and proposed loans, will be limited to 3 (three) Home Loans (excluding closed accounts) under the P-Segment Home Loan Scheme.

Main Feautres

Features include the following: • Low-interest rates • Low processing fees • No hidden fees • No prepayment penalty • Interest on daily decreasing balances

• Overdraft loan for Home Loans • Interest Concession for Women Borrowers

Eligibility

• Type of Resident: Resident Indian

• Minimum Age Requirement: 18 years • Maximum Age Requirement: 70 years • Loan Term: up to 30 years

• Amount of Loan: Click Here

Required Documents

The following is a list of papers/documents that are required of all applicants:

• Employer Identification Card Completed loan application form with three passport-size pictures affixed

• Identification Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/Passport/License/Voter Driver’s ID card A recent copy of a telephone bill, an electric bill, a water bill, or a piped gas bill, or a passport, a driver’s licence, or an Aadhar card.

Property Documents:

• Construction authorization (where applicable)

• Registered Sale Agreement (exclusive to Maharashtra)/Allotment Letter/Stamped Sale Agreement

• Occupancy Certificate (in the case of a ready-to-move-in property); • Share Certificate (only in Maharashtra); • Maintenance Bill, Electricity Bill, and Property Tax Receipt; • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the builder; (For New Property)

• Receipts for Payments or bank account statements detailing all payments made to the Builder/Seller Account Statement:

• Bank Account Statements for the preceding six months for all bank accounts owned by the applicant/s

• If you have ever taken out a loan from another bank/lender, you must provide a loan account statement for the prior year.

Proof of Salary for Salaried Applicant, Co-applicant, or Guarantor:

• Salary Slip or Salary Certificate for the preceding three months • Copy of Form 16 for the preceding two years or copy of IT Returns for the preceding two fiscal years, acknowledged by the IT Department

Income proof for Self-Employed Applicant/Co-Applicant/Guarantor:

• Proof of business address • IT returns for the last three years • Balance Sheet & Profit & Loss Accounts for the last three years (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Certificate of Qualification (for Certified Accountants, Physicians, and other professionals).

SBI Property Loan (P-LAP) under SBI Home Loan

Obtain the highest possible value for your home in order to meet your financial obligations.

Take out a loan against your property to cover personal requirements such as education, marriage, or healthcare, as opposed to speculative purposes. It is worth noting that loans permitted under the SBI LAP cannot be used for business purposes.

• Low interest rates • Low processing fees • No hidden fees • No prepayment penalty

Eligibility

• Type of Resident: Resident Indian

• Minimum Age: 18 years • Maximum Age: 70 years • Loan Term: Up to 15 years

Required Documents

The following is a list of papers/documents that are required of all applicants:

• Employer Identification Card Completed loan application form with three passport-size pictures affixed

• Identification Proof (Anyone): • Proof of Residence/Address (Anyone): PAN/Passport/License/Voter Driver’s ID card A recent copy of a telephone bill, an electric bill, a water bill, or a piped gas bill, or a passport, a driver’s licence, or an Aadhar card.

Property Documents:

• Construction authorization (where applicable)

• Registered Sale Agreement (exclusive to Maharashtra)/Allotment Letter/Stamped Sale Agreement

• Occupancy Certificate (in the case of a ready-to-move-in property); • Share Certificate (only in Maharashtra); • Maintenance Bill, Electricity Bill, and Property Tax Receipt; • Approved Plan Copy (Xerox Blueprint) & Registered Development Agreement of the builder; (For New Property)

• Receipts for Payments or bank account statements detailing all payments made to the Builder/Seller Account Statement:

• Bank Account Statements for the preceding six months for all bank accounts owned by the applicant/s

• If you have ever taken out a loan from another bank/lender, you must provide a loan account statement for the prior year.

Proof of Salary for Salaried Applicant, Co-applicant, or Guarantor:

• Salary Slip or Salary Certificate for the preceding three months • Copy of Form 16 for the preceding two years or copy of IT Returns for the preceding two fiscal years, acknowledged by the IT Department

Income proof for Self-Employed Applicant/Co-Applicant/Guarantor:

• Proof of business address • IT returns for the last three years • Balance Sheet & Profit & Loss Accounts for the last three years (or equivalent)

• Certificate of TDS (Form 16A, if applicable)

• Certificate of Qualification (for Certified Accountants, Physicians, and other professionals)

SBI Additional Schemes Offered by SBI under SBI Home loan

Avail advantage of the most appropriate scheme for your circumstances!

SBI offers a variety of schemes to meet the demands of its customers. SBI Maxgain, SBI Green Home Loans, Pre-EMI Interest By Builders Scheme, and SBI Suraksha are a few of them. Additionally, SBI offers flexible margin payment schemes, such as the Credit Risk Guarantee Fund Trust for Low Income Housing in Urban Areas (CRGFTLIH).

MAXGAIN SBI

Home Loans will be sanctioned as an Overdraft under the ‘SBI – Maxgain’ scheme. While customers will still be required to pay the Equated Monthly Instalments (EMIs) as they would with a conventional Home Loan, the Drawing Power on the Overdraft will be reduced monthly to the extent of the principal component of the EMI, ensuring that the Overdraft is liquidated at the end of the loan tenure. (Interest on the EMI remitted will be used to service interest obligations.)

Green Home Loans from SBI

The bank has implemented a green banking policy with the goal of assisting in the battle against harmful climate change. One such programme is to reward borrowers who invest in green projects, defined as those that reduce carbon emissions and encourage renewable energy. The term “Green Housing” or “Green Home” refers to one of the project types established for this purpose.

Builders’ Pre-EMI Interest Scheme

Under the Builders’ Pre-EMI Interest Scheme, the builder commits to service the entirety or a portion of the Pre-EMI interest (during the moratorium period) paid to the individual borrower’s Home Loan account as an incentive for homebuyers to drive maximum sales. In the case of Part Pre-EMI Schemes, the Builders service the Pre-EMI interest at the prescribed rate, while the Borrowers service the remaining Pre-EMI interest. However, in both cases, the borrower begins paying EMIs on the specified repayment start date specified in the terms of the sanction. The stated payback start dates are explicitly specified for each project, and the bank permits varied moratorium periods for different projects.

Additionally, this programme will be limited to projects approved through our Builder Tie Up arrangement, according to the Bank’s standards.

Suraksha SBI

SBI provides life insurance in conjunction with the housing loan. SBI funds the premium for RinN Raksha, and the loan is repaid in EMIs over the loan’s term. This feature will be available for new Home Loan accounts as well as existing Home Loan accounts if the customer elects to avail of SBI Life cover in this case.

You may also discussion on free health insurance from the Great Govt. of India which covers amount upto 500000/-.

Leave a Comment

Your email address will not be published.