SBI is one of the most trusted banks for personal facilities. It is an Indian multinational public sector banking and financial services. SBI established on 1 July 1995 and their headquarters in Mumbai. State Bank of India with a 200 year history is the largest commercial bank in India. In terms of assets, deposits, profits, branches, customers and employees SBI is the largest bank. The government of India is the single largest shareholder of this fortune 500 entity with 6158 percent ownership. SBI was ranked 60th in the list of top 1000 banks in the world by “the banker” in July 2012.
Home Loan is offered to individuals who wish to purchase or construct a house. The property is mortgaged to the land or as a security till the repayment of the loan.
Salaried and Non salaried Indian residents and NRIs are availed to take SBI Home Top Up Loan. This loan can be taken to meet the urgent requirements of the customers to borrow a certain amount over and above their home loan amount. The customer who already took home loan from SBI Bank and needs more amount, they can opt for home top up loans. It is availed for personal purposes. Customers have a satisfactory repayment track record of 1 year or more, after completion of moratorium period.
1. Interest concession for women borrowers
2. Low rate of interest start at 7.90% onwards
3. No prepayment penalties
4. No hidden charges
5. Home loan overdraft facility available
6.Repayment tenure upto 30 years
7. It is offered to both salaried and non salaried employees
8. Must be an Indian Resident and NRIs
9. Interest charges on daily reducing balance
10. Low processing fee
To apply for a home loan you have to pay fees and charges applied by the SBI Top Up. It covers all charges and fees made by a bank to their customers. The following charges are taken from SBI Home Top Up Loan i.e. processing fee, prepayment charges and CERSAI Registration charges etc.
|
TYPE |
CHARGES |
|
Processing fee |
0.40% of the loan amount plus applicable GST subject to a minimum Rs.10000 and Maximum Rs.30000 plus GST |
|
Prepayment charges |
NIL |
|
CERSAI Registration charges |
Rs.50 plus GST for loan upto Rs.5 lakh Rs.100 plus GST for loan above Rs.5 lakh |
Before applying for a home loan from SBI Top Up you should fulfil all basic eligibility criteria as prescribed by the bank. For the SBI Home Top Up Loan application is for the salaried and non salaried employees are eligible to take a loan. You will get your loan amount very soon if you meet all the required eligibility criteria once the documentation is done.
|
ELIGIBLE |
Salaried and Non salaried Indian Resident |
|
AGE |
18 years to 70 years |
|
NATIONALITY |
Indian Resident and NRIs |
|
CIBIL SCORE |
550 and above |
Any applicant who is going to avail a home loan must have to submit the following documents. These documents are the requirements for the lenders who are providing you the amount of loan.
1. Fully filled signed application form
2. Passport size photograph
3. ID Proof : Aadhaar Card, PAN Card, Driving License, Passport, Voter identification, Employment id
4. Address Proof : Aadhar Card, Rental agreement, Voter id, Driving license, Passport, Employment id
5. Income Proof : For salaried employees = 3 months salary slip, last 2 years ITR Return or form 16, Bank statement for last 2 months showing that the salary has been credited
6. For Self employed individuals / professionals = 2 years ITR return, Profit & loss account and Balance sheet computation with CA seal and sign, Bank statement for the last 6 months.
|
BANKS |
INTEREST RATE |
|
Starts at 10.05% onwards |
|
|
Starts at 7.75% onwards |
|
|
Starts at 7.75% onwards |
|
|
7.75% to 9.40% |
|
|
Start at 9.55% onwards |
|
|
8.15% to 8.30% |
|
|
8.90% to 9.15% |
|
|
6.95% onwards |
|
|
7.40% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
6.95% onwards |
|
|
7.65% onwards |
|
|
7.90% onwards |
|
|
9.50% to 10.50% |
|
|
6.75% onwards |
|
|
10.45% onwards |
|
|
8.05% onwards |
|
|
7.45% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
11.005 to 11.505 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
2. SBI Loan Against Properties
There are two ways to apply for home loans from SBI Top Up:
1. Offline method : By visiting nearest bank branch
2. Online Method :
First of all first visit to official website of SBI Bank
In retail section go to the “loans”
Now click in home loan
After that go to “SBI Home Top Up loan”
Now click on apply now and fill application form
SBI Home Top Up Loan Customer Care
Contact number : 1800112211 / 18004253800
Email id : customercare@sbi.co.in
The following formula is used to calculate EMI of SBI Home Top Up Loan :
EMI = [PXRX(1+R)^N] / [(1+R)^N-1]
Where,
P stands for Loan Amount
R stands for Interest Rate
N stands for tenure in number of months
Financials products offered by Bank
SBI Home Top Up loan can be taken to meet the urgent requirements of the customers to borrow a certain amount over and above their home loan amount. The customer who already took home loan from SBI Bank and needs more amount, they can opt for home top up loans.
The maximum loan amount is provided by SBI Realty Home Loan is Rs. 5 lakh..
The repayment tenure is upto 30 years provided by the SBI Home Top Up Loan.
Processing fee charged by SBI Home Top Up Loan is 0.40% of the loan amount plus applicable GST subject to a minimum Rs.10000 and Maximum Rs.30000 plus GST.
The Interest rate provided by SBI Home Top Up Loan starts at 7.90 percent per annum.
You can apply online or offline by visiting the nearest bank branch for SBI Home Top Up Loan.
Salaried and non salaried Indian Residents and NRIs are eligible to take a SBI Home Top Up Loan.
Last Updated on : 24/Aug/2020Know More About
You're eligible for a Sbi Home Top Up Loan if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Sbi Home Top Up Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 7.9% - 0% |
| Processing Fees | 0.40% of the loan amount plus applicable GST subject to a minimum Rs.10000 and Maximum Rs.30000 plus GST |
| Loan Tenure | 1 year to 30 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator