State Bank of india (SBI) Home Loan

State bank of india is the largest bank in India in terms of assets and liabilities. SBI has largest network of branches present all over India. SBI offers home loans to its customers and non customers at attractive rate of interests compared with other banks. in this article, we would look into various features of SBI home Loan for your reference.

SBI regular Home Loan

With SBI regular home loan, you can fulfill your dream of purchasing a new home of your choice. SBI has branch network presence all over india and one can get home loan for your dream home. various features of SBI Home Loans from SBi includes-

• SBI offers lowest interest rates amongst indian banks
• Very low processing fee and no pre payment charges
• SBI Home loans come with low processing fee and low pre payment charges
• Repayment tenure of up to 30 years
• Home Loan interest concession for women borrowers

SBI Regular Home Loan eligibility

• Resident Indian within age group of 18 years to 70 years old are eligible for Home Loan
• Salaried individuals and Self employed individuals with valid income proof
• Good repayment track record with decent CIBIL score required for a SBI Home Loan

SBI Regular Home Loan Interest rates 2022

• SBI charges interest rates depending upon the Home Loan amount required
• For Loan up to 30 lakhs, SBI Home Loan interest rates 2022 can be accessed from here
• SBI Loan interest for loan amount between 30 lakhs to 75 lakhs is slightly higher compared to above mentioned rates
• SBI Loan interest rates are highest for loan amount greater than 75 lakhs and are often offered to customers with CIBIl score greater than 750 that is a minimum requirement for a Home Loan
• SBI home loan interest rate 2021 and 2022 for government employees can be accessed from here
• SBI Home Loan processing fee is .35% for Regular Home Loans with a minimum fee of 2000 plus GST
• SBI Home Loan processing fee is .35% for NRI, Realty, Maxgain, CRE, Flexi-pay, Nonsalaried, PAL, Trible Plus, Apon GharLoan above 15 lacs with a maximum cap of rs 10,000 plus GST for SBI Home Loan processing fee

 

SBI Home Loan Calculator

SBI Home Loan calculator or SBI Home Loan EMI Calculator is an easy to use utility that is offered at our website free of use. You can access SBI Home Loan EMI Calculator from here.

SBI Regular Home Loan Documents

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

 

SBI regular Home Loans is unique and one of the most popular home loan scheme offered by a bank in india. One can get lowest Home Loan interest rates with easy to pay repayment up to 30 years by availing this product

 

 

 

SBI balance transfer home loan

With SBI balance transfer Home Loan, you can avail lowest interest rates in the market by transferring your existing Home Loan form another bank or a NBC. Interest rates on SBI Balance transfer Home Loans are in single digit and application form for balance transfer is easy to complete along with list of documents to be attached.

To calculate your SBI Home Loan EMI post balance transfer, you can use our Home Loan EMI calculator form here

SBI flexipay Home Loan

SBI offers best product for young individuals who are salaried and want to reduce EMI burden initially during their working life. With SBI flexipay Home Loan, you can enjoy benefit of a lower EMI initially along with a larger Home loan tenure up to 30 years.

SBI flexipay Home Loan offers concession on interest rates for women borrowers. To be eligible for this loan form SBI you should be in age between 21 years to 45 years and have a stable source of income with proof such as Salary slips and form 16.

SBI Flexipay Home Loan interest rates varies in single digit and offers the benefit of paying only interest initially.

Documents for SBI Flexipay Home Loan

SBI FlexiPay 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

 

SBI Privilege Home Loan

SBI Privilege Home Loan is an exclusive product offered for employees of central government and state government. Employees working in other major PSUs are also eligible to avail this home loan from SBI. Let us check various salient features of SBI Privilege Home Loan-

• SBI privilege Home Loan can be availed with zero processing fee and offers a very low rate of interest
• There is no pre payment penalty and interest is also charged on the basis of reducing balance
• Government employees who are still working are eligible for this loan
• There is no processing fee on these loans but you will be charged various out of pocket expenses such as legal opinion, valuer fee, CERSAI and CIBIL fee
• Other charges would include property insurance premium and Stamp duty payable on execution of documentation

Documents required for SBI Privilege Loan-

• Employee identity card, proof of identity, proof of address and complete application form
• Registered agreement for sale, Occupancy certificate, approved construction plan and receipts of payment being made to builder
• Last 6 months bank account statement
• Income proof such as salary slip
• Business address proof, IT returns of past 3 years, TDS certificate etc

 

SBI Shaurya Home Loan

SBI Shaurya Home Loan is a special home loan product that is designed army and defiance personal in the country. Shaurya Home Loan offers a lower rate of interest and other attractive features for defense personal. Saikent fetaures of these loans are mentioned below-

 

• SBI shaurya Home Loan can be availed with zero processing fee and offers a very low rate of interest
• There is no pre payment penalty and interest is also charged on the basis of reducing balance
• Government employees who are still working are eligible for this loan
• There is no processing fee on these loans but you will be charged various out of pocket expenses such as legal opinion, valuer fee, CERSAI and CIBIL fee
• Other charges would include property insurance premium and Stamp duty payable on execution of documentation

 

 

 

 

SBI Pre approved Home Loan

SBI offers a pre approved Home Loan for its customers. This loan is offered even if you haven’t finalized your property.

SBI Pre Approved 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

 

SBI Realty Home Loan

SBI Realty home loan gives you a flexibility to buy a vacant plot and start construction over the same plot. SBI would give home loan for a total amount of construction as well as the total plot amount. SBI would require basic documentation such as income proof, proof of identity, proof of address etc

 

SBI Home Top up Loan

This loan is offered to existing home loan customers of the SBI. This top up loan is offered over and above your existing home loan and interest rates for Home Top up loan is relatively lower compared to personal loans offered in the market.

 

 SBI Young Insta Home Top up loan

This is also a top up loan that is being offered over and above your existing home loan from SBI. This loan is offered over YONO app from SBI

 

SBI Corporate Home Debt

 

This home loan is perfectly designed for corporates such as LLP, companies to purchase home in the name of the firm. This loan also allows takeover of a existing home loan from other banks subject to conditions laid out by SBI

 

SBI Non salaried offering

These home loans are offered by SBI to non salaried individuals to purchase a new property

SBI Reverse Mortgage

SBI Reverse Mortgage loan offers a unique system of cashflow to senior citizens. With this loan, one can get systematic monthly cash flow in his or her account by mortgaging his or her own property with SBI

 

SBI LAP

One can get a loan against property from SBI to fulfill one’s personal needs such as marriage, outstation trips etc. However, amount from this loan cannot be utilized for business purposes such as buying machines, raw materials etc.

 

Documents for SBI LAP-

SBI Loan against Property 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

 

In this post, we have look into details about various home loan products that are being offered by SBI. SBI offers comparitively lower ROI and larger tenure loans compared to other banks and NBFCs. A Home Loan from SBI is one of the most favorable option taken by individuals as well as corporate like.

In this post, we have discussed in detail about various loans for Home purchase that are offered by State Bank of India to individuals and self employed persons. State Bank of India  is known for its faster turn around time and lower interest rates compared to other banks. If you are interested in knowing about business loan offering by other banks then you can visit following links-

• SBI Business Loan
• HDFC Business Loan for traders
• ICICI Business Loan
• Axis Business Loan
• Axis Mudra Loans
• PNB Business Loan
• Kotak Mahindra Business Loan
• Yes Business Loan