Home Loan is one of the most popular scheme for a potential borrower who wants to purchase a home for himself. Home Loan is offered by most of the banks and NBFCs in India for potential borrowers. Documents required for a Home Loan are pretty basic in nature  and can be accessed from here.

Home Loan interest rates have recently increased post rate increase by central bank. Howver, still Home loan interest rates are relatively chepaer compared to earlier home loan rates. You can gather latest interest rates for Home loan for two of the most popular banks from these links – HDFC Home Loan interest rates and SBI Home Loan interest rates

Home Loan EMI Calculator

Home loan is a loan that is secured in nature and is offered in the form of a term loan with repayments divided into equated monthly installments or EMI. An Home Loan EMI Calculator is an easy to use utility that enables individual applicant to calculates its Home loan emi for a specific tenure. In this article, we would look into detail of working of an EMI calculator

Components of an EMI

An EMI consists of two components mainly principal and interest. Interest is the amount simple interest that a bank would charge on a closing principal on the date. With time, your principal component would reduce and thus interest charged on that principal would also reduce. One benefit of an EMI is that at the end of tenure. principal would always reduce to zero and EMI also provide a facility of repaying your loan in a structured manner with timely deduction of EMI from bank accounts.

Let us look at the workings of a business loan EMI calculator. AN EMI calculator is an easy utility that can be used to calculate an EMI for your loan

Home Loan EMI calculator on Excel

You can easily calculate your Home loan EMI with the help of Microsoft Excel program. For calculation your loan EMI, you would be required to use PMT function in Excel. Working of PMT function is shown below –

In above example, Excel based Home  loan EMI calculator has calculated EMI for a Rs 10 lakhs loan at the rate of 10% per annum for 60 months. Care should be taken to take uniform numbers while inputting formula. For example, if duration chosen is in months then rate of interest should also be inputted in months.

Business Loan EMI calculator foundation

where

E is EMI

P is Principal Loan Amount

r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)

n is loan term / tenure / duration in number of months

In most of the Home loan products in the market, interest is usually charged on the reducing balance. Due to this reason, interest component of the EMI would gradually increase with time and principal would similarly reduce.

In this article, we have seen working and foundation for an EMI calculator used by industry. If you want to read more about Home loan, you can visit our detailed articles on Home loan here.

HDFC is one of the largest home loan lender in India. HDFC has been pioneer in giving out all types of home loans to prospective buyers. HDFC offers multiple Home Loan products including Home renovation, fresh home purchase, plot purchase etc. If you are interested in knowing more about how to apply for a HDFC Home Loan or what are the current HDFC Home Loan interest rates then you can visit respective links. In this post, we would look into details of HDFC Home Loan customer care.

HDFC Home Loan Customer care

HDFC has Home Loan offices across all major cities in India. To fulfill the demand of customers all cross India, HDFC has setup customer care numbers for all zones-

FAQs on HDFC Home Loan Customer Care

Q – How can I talk to HDFC Customer care?

A – You can talk to HDFC customer care by dialing any of the number mentioned above for your zone or call on HDFC Toll free customer care number on 18002026161

Q – What is the HDFC customer care number for Delhi ?

A – HDFC Customer care number for Delhi is 011-64807999

Q – Can I call directly on HDFC Customer care number?

A – Yes, you can

Q – How can I track my HDFC Home Loan?

1. Give a missed call to 919289200017.
2. Send an SMS to the number 56767 with the code HDFCHOME.

Q – How can I complain for HDFC Home Loan?

A – You can complain for HDFC Home Loan by dialing in on any HDFC customer care number in your zone

Q – What is the email ID of HDFC customer care?

A – Communication@hdfcbank.com

Q – How can I check my Home loan status on HDFC?

A –

1. Give a missed call to 919289200017.
2. Send an SMS to the number 56767 with the code HDFCHOME.

HDFC is one of the pioneer in Home Loan industry and it is one of the largest lender when it comes to Home Loan in India. HDFC has one of the fastest process and turn around time for a Home Loan application. If you want to apply for a HDFC Home Loan or want to know more about recent HDFC Home Loan interest rates then you can visit our website for more info. In this post, we would look into list of documents required for HDFC Home Loan.

An individual must submit following list of documents for applying at HDFC-

• KYC Documents
• Proof of income
• Property documents

KYC Documents for Home Loan

• Recent passport size photograph
• Any one Proof of Identity from these documents (PAN Card/ Passport/ Aadhar Card/ Driving License/ Voters ID Card)
• Any proof of Residence from these documents(Ration Card/ Electricity Bill/ Telephone Bill/ Passbook or Bank Statement with address/ Employment Letter)
• Any age proof documents mentioned here (Passport/ PAN Card/ Birth Certificate/ Bank Passbook/ Driving License/ 10th Marksheet)

Proof of Income for a HDFC Home Loan

Proof of Income is one of the most important documents required for applying to any type of loan. proof of income is used for calculating repayment capacity of the borrower and his credit worthiness. It is important to make sure that proof of income is a recent one and should be in the format as desired by financial institution. Following are the acceptable proof of income documents for a HDFC Home Loan-

• Latest 3 months Salary Slips of the current organization
• Bank Account Statement of past six months reflecting the salary credit of past 3-6 months
• Form 16 (Part A & Part B) and filed Income Tax Returns (ITR) of the past two years
• Employee Identity Card if available
• Appointment Letter/ Employer Certificate/ Increment Letter (as required)

For complete list of proof of income documents, you can visit official HDFC website.

Above mentioned list are the documents that are required for a salaried customer. However, if you are a self employed customer then following documents would be required for a Home Loan process-

• Latest 3 year ITR with complete financial statements filed by the individual. One should make sure that there is a gap of at least 6 months between filing of two ITRs
• 6 months bank statement of the current account or CC account from which most of the business transactions are routed
• Registration certificate for the business
• Recent GST returns
• Lates 3 years audited financial statements

Property documents required

Property documents are the backbone of any home loan application. Your final loan amount would be affected mostly by property’s market value. Property documents are also required to make sure that there is claim over the property and title for the property is clean. HDFC requires following property documents for a Home Loan application-

• Commencement Certificate – A commencement certificate is a document provided by local municipal corporation permitting builder to start construction of real estate
• Registered agreement for sale – It is an agreement between buyer and seller to purchase a given property at a specified price. This agreement to sale need to be registered at local registrar.
• Approved building plan copy – Building plans are need ed to be approved by local municipal corporation so that no one could claim this in future
• Payment receipts to the builder – If payment has already been made to builder then receipts for the same should be on record of HDFC
• Registration receipt – Receipt provided by local authority post registration
• Sanction Letter
• Chain contract from the previous owner
• Occupancy Certificate – This certificate is issued by local corporation and it states that building is safe for occupancy
• Society maintenance bill copy
• Society Share Certificate
• Society Registration Certificate
• Possession Letter / Allotment Letter
• Copy of electricity bill
• NOC (No Objection Certificate) from society
• Property Insurance copy

In this post, we have look into various documents that are required for a HDFC Home Loan process. If you are interested in Home Loan and want to read more about the same then you can visit followings links-

• 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
• How to apply for HDFC Home Loan
• Current HDFC Home Loan interest rates

HDFC is one of the pioneer in Home Loan industry. HDFC was established to serve Home Loan demands of Indian citizen and has one of the largest Home Loan portfolio of all the banks and NBFCs in India. It is one of the preferred choice among Home Loan customers pan India. HDFC offers complete digital service with lower tenures and interest rates. In this post we would look into interest rates offered by HDFC for its various Home Loan products.

HDFC Home Loan interest rates

HDFC offers interest rates starting from 7% per annum for its various customers including Home Loan, Balance transfer, Home renovation etc. HDFC offers both floating rates as well as trufixed Home loans in which interest rates remain fixed for few years and post that it fluctuates with base rates. Let us look at various slabs offered for housing loans –

As it can be seen from above table that women get a relieve of 5 bps on every home loan product being offered at HDFC. If you want to apply for a Home Loan then it is advisable to take either your wife or a mother as a main applicant in your loan application. Moreover, with HDFC Home Loans, you are also eligible for income tax benefits out of interest paid on Home Loan every year. For availing income tax rebates, you just need to show your Home Loan interest certificate to the income tax authorities. If you want to know more about how to apply for HDFC Home Loan, visit link mentioned

Factors affecting Home Loan interest rates

• Interest rate type such as floating rate or a fixed rate. Floating rate would change depending upon the central rate fixed by RBI while fixed rate would remain constant over a duration of loan tenure
• Benchmark lending rate quoted by reserve bank of India
• Loan to value ratio or LTV of loan proposal. LTV ratio is obtained by dividing loan amount offered by market value of the Home. Higher the LTV value, higher are the chances of getting a higher rate of interest for a Home Loan
• Repayment tenure would also determine rate of interest on Home Loan
• Location of property

However, SBI also offers great Home loan offerings with attractive rate of interest and tenure. You should always check various offerings before deciding for a Home Loan from a bank.

FAQs on HDFC Home Loan interest rates

Q – What is the EMI for 20 lakhs home loan for 20 years?

A – EMI for 20 years Home Loan would be in the range of 15 thousand per month.

Q – How much loan can I get on 35000 salary?

A – You can get a Home Loan of around 20 Lakhs with a salry of 35,00

Q – How much time does it take for HDFC Home Loan approval?

A – It usually takes 4 to 7 days to get HDFC Home Loan approved

Q – Is part payment available with HDFC Loan?

A – Yes, part payment is available

Q – Can I do balance transfer my existing Home Loan with HDFC/

A – Yes, you can do balance transfer your existing Home Loan with HDFC

Q – What is foreclosure fee for this loan?

A – There is no foreclosure fee on HDFC Home Loan

Q – What is the interest rate on HDFC Home Loan?

A – HDFC Home Loan interest rates varies from 7.05% to 7.95%\

Q – What is the processing fee on HDFC Home Loan?

A – Processing fee on a HDFC Home Loan is between 3 to 5 thousand

In this post, we have look into detail of HDFC Home Loan interest rate. If you are interested in other topics related to Home Loan, then you can visit following links-

• 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
• How to apply for HDFC Home Loan
• Current HDFC Home Loan interest rates

HDFC is number one Home Loan financier in the country. HDFC provides all type of home Loans for every class of applicants including salaried as well as self employed in the country. Getting a Housing  Loan from HDFC is pretty simple process. in this post, we would look into step by step process to apply for a HDFC Housing Loan from the comfort of your room.

Home loan from HDFC application process

1. First of all, applicant would need to visit official website of the HDFC at www.HDFC.com to start the application process.
2. You would be required to click on apply for Home Loan.
3. If you want to know eligibility for your Home Loan then you need to click on check eligibility before applying for a Home Loan
4. You would be directed to ‘Basic information tab’ on the website in which you would need to select the type of home loan that you are applying for. It could be any type of loan such as Home Loan to buy a new house, Home renovation loan for a existing Home or a Plot loan to buy a new plot.
5. Next, applicant would be asked to provide details of the property chosen such as state, city and estimated cost of property etc.
6. You would also be asked to provide details of co applicant if any. Maximum number of co applicant that can be added for home loan from HDFC could be 8
7. You would be redirected to ‘Applicants tab’. Under which, you would be required details such as citizenship status, state, city, current address, gender, age, work profile, mobile number, email Id, current monthly income and total emi obligations on all loans apart from HDFC
8. Post submission of basic details, you would be taken to offers tab where you would be shown various home loan offers for loans including various tenures, loan amount etc
9. You would need to select final home loan product from HDFC Home Loan portal and you would be taken to final page where you would be required to submit few more details
10. You would be required to upload all documents such as PAN card, Adhar card, Salary slips, ITR etc.
11. Post submission of processing fee, your online application for a HDFC Home Laon is complete and now you can leave as HDFC representative would contact to you as next step in your Home Loan process

home loan from HDFC FAQs

Q – Is HDFC good for Home Loan?

A – Yes, HDFC is one of the best choice for a housing loan as it is a pioneers in the home loan industry and has disbursed maximum number of home loan apart from public sector bank. HDFC is a specialized company that focuses solely on Home Loan application and nothing else

Q – How much home loan can I get on 60000 salary HDFC?

A – For a salary of 60,000 per month you can get a home loan worth up to 50 Lakhs

Q – What is the EMI for 30 lakhs home loan?

A – EMI for a 30 lakhs Home Loan would come out in range of 25 to 30 thousand per month

Q – What is the EMI for 20 lakhs home loan for 20 years?

A – EMI would come out to be in range of 15 thousand from HDFC

Q – How much home loan can I get on 40000 salary from HDFC?

A – You can get Housing  Loan up to amount 40 Lakhs from HDFC

Q – How much home loan can I get on 50000 salary?

A – You can get a Home loan up to amount 50 lakhs with a salary of around 50 thousand per month

Q – How much home loan can I get on 50000 salary?

A – There is no upper limit on amount that you can get for Home Loan from HDFC. It totally depends on your repayment capacity and price of property that you intend to purchase

Q – Does HDFC provides 90% Housing Loan?

A – Yes, you get a Home Loan up to amount of 90% of your property market value.

In this post, we have discussed about application process for a HDFC Housing Loan. Keep in mind that HDFC has recently increase its rate of interest on Home Loan post increase of repo rate by RBI. 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

Personal loan is one of the most popular loan offering from most of the Indian private as well as private sector bank. Personal loan is a loan that is unsecured in nature and is offered in the form of a term loan with repayments divided into equated monthly installments or EMI. An Personal Loan EMI Calculator is an easy to use utility that enables individual applicant to calculates its personal loan emi for a specific tenure. In this article, we would look into detail of working of an EMI calculator

Components of an EMI

An EMI consists of two components mainly principal and interest. Interest is the amount simple interest that a bank would charge on a closing principal on the date. With time, your principal component would reduce and thus interest charged on that principal would also reduce. One benefit of an EMI is that at the end of tenure. principal would always reduce to zero and EMI also provide a facility of repaying your loan in a structured manner with timely deduction of EMI from bank accounts.

Let us look at the workings of a business loan EMI calculator. AN EMI calculator is an easy utility that can be used to calculate an EMI for your loan

Personal Loan EMI calculator on Excel

You can easily calculate your personal loan EMI with the help of Microsoft Excel program. For calculation your loan EMI, you would be required to use PMT function in Excel. Working of PMT function is shown below –

In above example, Excel based Personal loan EMI calculator has calculated EMI for a Rs 10 lakhs loan at the rate of 10% per annum for 60 months. Care should be taken to take uniform numbers while inputting formula. For example, if duration chosen is in months then rate of interest should also be inputted in months.

Business Loan EMI calculator foundation

where

E is EMI

P is Principal Loan Amount

r is rate of interest calculated on monthly basis. (i.e., r = Rate of Annual interest/12/100. If rate of interest is 10.5% per annum, then r = 10.5/12/100=0.00875)

n is loan term / tenure / duration in number of months

In most of the personal loan products in the market, interest is usually charged on the reducing balance. Due to this reason, interest component of the EMI would gradually increase with time and principal would similarly reduce.

In this article, we have seen working and foundation for an EMI calculator used by industry. If you want to read more about personal loan, you can visit our detailed articles on personal loan here.

Frequently asked questions (FAQs)

Q – What is the EMI for a 3 Lakhs personal loan?

A – EMI for a 3 Lakhs personal loan with ROI of 15% and tenure of 3 years, EMI would come out to be Rs 10,400

Q – What is the EMI for a 50,000 Loan?

A – EMI for 50,000 personal loan is Rs 1,733

Q – How much personal loan can i get if my salary is 40,000?

A – you can get a personal loan up to 15 Lakhs if your monthly salary is Rs 40,000

Q – What is the EMI for a 5 Lakhs personal loan?

A – EMI for a 5 Lakhs personal loan is Rs 17,333

Q – How much personal loan can i get if my salary is 50,000?

A – You can get a personal loan up to amount 18 Lakhs

Q – How much personal loan can i get if my salary is 75,000?

A – You can get a loan up to 30 Lakhs for a salary of Rs 75,000

Q- How can i check my personal Loan EMI?

A – You can check your personal loan EMI by visiting your bank’s website and logging into your account. Under Loan, you would see your monthly EMI

Q – What is the minimum salary for a personal loan?

A – Minimum salary for a personal loan is Rs 15,000 – Rs 20,000 in most of the banks.

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

Current SBI Home Loan interest Rate 2022

SBI is the largest bank in India in terms of deposit as well as advances. SBI offers Home Loans at attractive and lowest rate of interest compared to its peers such as HDFC Bank, PNB, Kotak Mahindra Bank etc. SBI has recently hiked its rate of interest post rate hike by Reserve Bank of india. In this post, we would look into detail of various current SBI Home Loan interest rates in 2022-

• For Loan amount upto 30 Lakhs, 30 to 75 Lakhs and above 75 Lakhs rate of interest would be 6.8%, 7.05%, and 7.15% for term loans applicable to salaried class respectively
• For Loan amount upto 30 Lakhs, 30 to 75 Lakhs and above 75 Lakhs rate of interest would be 7.15%, 7.40%, and 7.50% for SBI MaxGain loans applicable to salaried class respectively
• For Tribal plus scheme, additional 10 bps would be charged over final home loan interest
• For CRE Home Loan from SBI, an additional 50 bps would be charged over final home loan interest rate
• For SBI realty loans amount upto 30 Lakhs, 30 to 75 Lakhs and above 75 Lakhs rate of interest would be 7.5%, 7.60%, and 7.70% for term loans applicable to salaried class respectively
• Rate of interest varies from 7.50% to 9.55% for loan amount varying from Rs 20 lakhs to Rs 5 Crores
• For insta top up home loan, rate of interest that is 155 bps over and above standard rate would be charged
• For Insta Home Top Loan from SBI effective rate of interest would be 155 bps over and above EBR of 6.65%
• For salaried individuals, smart home top up loan can be priced at 8.05% and 8.55% for term loan and overdraft respectively
• For non salaried individuals, smart home top up loan can be priced at 8.55% and 9.05% for term loan and overdraft respectively
• For salaried individuals, Personal Loan against property can be priced at 8.80% and 9.30% respectively
• For salaried individuals, Personal Loan against property can be priced at 8.80% and 9.30% respectively
• Reverse Mortgage loans are priced at 9.05% for general public
• Reverse Mortgage Loans are priced at 8.05% for SBI pensioners

For complete rate card on recent SBI Home Loan interest rate for 2022 you can visit following link

SBI Home Loan interest rates 2022

In this post, we have discussed SBI Home Loan interest rates in 2022. SBI has recently increase its rate of interest on Home Loan post increase of repo rate by RBI  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

SBI is the largest bank in India in terms of deposit as well as advances. SBI offers variety of home loan products to customers all across India at attractive rate of interest and tenures. If you want to read more about various types of home loan products from SBI then you can visit this link

In this article, we would look into detail on how you can apply to a State Bank of India Home Loan and what is the easiest method to apply for a SBI Home Loan. There’s are plenty of options available to apply for a home loan including visiting a nearest SBI branch as well as various online methods such as applying through website or Whatsapp etc. We would look into all available methods available to apply for a SBI Home Loan.

Apply for Home Loan by visiting nearest SBI Branch

One can always apply for a SBI Home Loan by visiting their nearest SBI branch. For complete list of SBI branch located near to your home you can visit SBI Branch Locator. At the branch, you would need to complete SBI Home Loan application form and submit few important documents that are required to be attached along with application form. For complete list of documents required for SBI Home loan, you should visit this post.

Post completing your SBI Home Loan application form, SBI would initiate due diligence on their part which would include verifying your identity, eligibility and Home you are intending to purchase. If your loan application is accepted then you would be asked to completely fill SBI Home Loan agreement and required Loan would be sanctioned for you

Apply for State Bank of India Home Loan on SBI YONO app

SBI YONO is a new technological initiative by SBI to make banking a seamless affair with minimal human touchpoints. On SBI YONO app, you can complete your application for a home loan completely digital and submit required documents in a complete digital manner. With the help of SBI YONO app, you would get your complete home loan disbursed in a completely digital manner and whole process takes just few hours.

Apply for State Bank of India Home Loan on WhatsApp

Now, you can also apply to Home Loan on WhatsApp too. Following steps needed to be performed for applying for Home Loan on Whatsapp-

• Firstly, you would need to give a miss call on 9555103000
• You would receive a message on Whatsapp
• Answer the question by chatbot to verify your identity
• You would be required to enter your monthly income and value of property along with ID details such as PAN

Post successful completion of your application, you would be intimated about your home loan amount on Whatsapp only

Apply for State Bank of India Home Loan on SBI Website

To apply for SBI Home loan on SBI Website, you would be required to visit SBI website on following link and complete basic details such as your name, income, Property details etc. You would be intimated about your SBI Home Loan offer on Website. post that you would be required to complete your SBI Home Loan process offline.

In this post, we have discussed various methods to apply for of State Bank of IndiaHome Loan. Most of these methods are completely digital and can be completed in a matter of few clicks.  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

SBI offers variety of home loan products to its prospective customers. Before applying for Home Loan at SBI, you should make sure that your CIBIL score is up to the mark. As such there is no minimum CIBIL score for a Home Loan from SBI but a CIBIL score greater than 750 is considered to be good one for getting a Home Loan,

If you are interested in viewing various Home Loan offerings from SBI then you can visit our post on SBI Home Loan offerings. SBI offers virtually every type of a Home Loan to every eligible customer and CIBIL score plays an important role in getting your home loan sanctioned from SBI.

What is a CIBIL Score

Before proceeding with SBI Home Loan CIBIL, you should be completely aware about what CIBIL score is. CIBIL score is s standard score that is provided by CIBIL (Credit Information Bureau of India Limited). It is a 3 digit score that plays an important role in getting your home loan accepted or rejected.

CIBIL score is generated for individuals as well as corporates after collating data provided by various financial institutions. Financial institutions such as Banks and NBFC need to report to CIBIL about repayment behavior of their loan accounts and this reporting sets the base for formation of your CIBIL score.

Factors affecting SBI Home Loan CIBIL

Various factors affects your CIBIL score but one of the most important factor that affects it the most is repayment behavior of existing loan accounts. Existing loan accounts could be Home Loan, Business Loan, Personal Loan, Credit card etc. If one is paying his loan repayment in a timely manner than their CIBIL score would always increase.

CIBIL Score for a SBI Loan

One should always keep in mind that interest rate that you are charged for a Home Loan is directly a function of CIBIL score. Higher thae CIBIL score, better would be your interest rates that are offered on Home Loan. Ideally, a Credit Bureau score of greater than 750 is considered as optimum score to get better Home Loan offers from State Bank of India. however, if your CIBIL score is lower than 750 then there is no need to lose hope as you can still get Home Loan for yourself from State Bank of India