Documents required for SBI Home Loan

State Bank of India or SBi is the largest bank in India both in terms of deposit and in terms of advances given. Availing a Home loan for a dream house and that too from a bank like SBI is a dream of many. If you are interested in availing a Home loan from SBI then you can check out our post on various Home Loan products offered by SBI here. Documents required for a SBI Home Loan are pretty simple and can be completed within a few days by applicant.

SBI Home Loan Interest Rate

SBI offers Home Loan product to virtually every eligible segment in India. Weather you are salaried or a self employed you can get a Home Loan from SBI. Recently, RBI has raised its repo rate for banking sector and that has effect on lending rates offered by banks such as SBI. SBI Home Loan interest rates usually varies from 7% to 12% for various segment of customers such as salaried and non salaried. Higher a credit score, better would be rate of interest that would be offered by SBI on its Home Loan. Moreover, documents required for SBI Home Loan for a Top up customer are significantly lower compared to a new customer.

SBI Home Loan EMI Calculator

A Home Loan EMI calculator is a simple utility that allows an applicant to calculate its Home Loan EMI by providing simple inputs such as Loan amount required, tenure required and rate of interest on Home Loan. There are many advantages of using a SBI Home Loan EMI Calculator as it present results in a click of mouse and applicant can choose EMI that is best suited as per his or her current income level. For a detailed discussion on Bank Home Loan EMI calculator, you should visit our article here.

Documents required for a SBI Home Loan

SBI offers variety of Home Loan products to its customers such as SBI MaxGain, CRE, SBI Regular Home Loans, SBI LAP etc and documentation required for each type of home loan would differ. However, we would list out a brief list of documents that would be required for applying for a SBI Home Loan-

SBI Regular Home Loan mandatory Documents

• Employer Identity card
• Complete Loan application form along with 3 passport sized affixed photographs
• Proof of identity such as PAN card, Voter ID
• Proof of residence

Property papers

• Permission for construction
• Agreement for sale
• Occupancy certificate if property is ready to move
• Approved plan copy, Conveyance deed
• Payment receipts towards builder

Account Statement and Income proof

• Last 6 months Bank account statement for all bank account hold by owner
• Previous Loan account statement of all previous loan accounts
• Last 3 months salary slips and salary certificates
• Copy of form 16 for last 2 years and last 2 years Income tax returns acknowledged by income tax department
• Business address proof
• Income tax returns for past 3 years
• Balance Sheet and income statement for past 3 years
• TDS Certificate
• Qualification certificate

List of documents would vary depending upon the product offered by SBI but above list of documents would be a minimal requirement from SBI for its Home Loan product. Keep in mind that, with increasing digitization an old PSU bank such as SBI has also adopted digital ways and methods. Now, one can apply for a Home Loan in a few clicks and complete journey including submission of loan documents in a complete digital manner, If you are interested in more exhaustive list of documents for SBI Home Loan, then you should check out official SBI website.

In this post, we have discussed about documents for a SBI Home Loan. Keep in mind that SBI has recently increase its rate of interest on Home Loan post increase of repo rate by RBI but it has no impact on compliance and documents part from SBI.  You can read our other articles on SBI Home Loan from below-

• State Bank of India Regular Home Loan
• State Bank of India Home Loan interest rates
• State Bank of India Home Loan EMI Calculator
• State Bank of India MaxGain Home Loan
• SBI Top up Loan
• How to apply for SBI Home Loan
• Current SBI Home Loan interest rates 2022

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