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. SBI NRI Home Loan is for non resident indians (NRIs). This loan is given to the people who earn individual regular income. These loans are offered to buying, renovating and extending the ld property or home. You can apply for a home loan from SBI NRI by either applying for it online or by visiting the nearest branch of the bank with proper documents. SBI NRI home loan offers lowest interest rate to its customers starts at 6.95% per annum.
1. Easy home loan for NRIs
2. Interest concession for women borrowers
3. Low interest rate starts at 6.95% onwards
4. Repayment tenure upto 30 years
5. No hidden charges
6. Interest charges on daily reducing balance
7. Overdraft facility available
8. Hassle free documentation process
9. No prepayment penalty
10. Individuals should have a regular source of income
To apply for a home loan you have to pay fees and charges applied by the SBI NRI. It covers all charges and fees made by a bank to their customers. The following charges are taken from SBI NRI Home 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 NRI you should fulfil all basic eligibility criteria as prescribed by the bank. For the SBI NRI Home Loan application the salaried and self employed individuals 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 self employed individuals |
|
AGE |
18 years to 60 years |
|
RESIDENTIAL STATUS |
Salaried lived abroad for 1 year Self employed lived abroad for 3 years |
|
NATIONALITY |
NRIs and PIOs |
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 NRI :
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 NRI Home loan”
Now click on apply now and fill application form
SBI NRI Bank Home Loan Customer Care
Contact number : 1800112211 / 18004253800
Email id : customercare@sbi.co.in
The following formula is used to calculate EMI of SBI NRI Home 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 NRI Home Loan is for non resident indians (NRIs). This loan is given to the people who earn individual regular income. These loans are offered to buying, renovating and extending the ld property or home.
The maximum loan amount is provided by SBI NRI Home Loan is Rs.3 crore.
The repayment tenure is upto 30 years provided by the SBI NRI Home Loan.
Yes, the processing fee is 0.40% of the loan amount plus applicable GST subject to a minimum Rs.10000 and maximum Rs.30000 plus GST charged by SBI NRI Home Loan.
The Interest rate provided by SBI NRI Home Loan starts at 6.95 percent per annum.
You can apply online or offline by visiting the nearest bank branch for SBI NRI Home Loan.
Salaried and self employed individuals are eligible to take a SBI NRI Home Loan.
Last Updated on : 22/Aug/2020Know More About
You're eligible for a Sbi Nri Home 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 Nri Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 6.95% - 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