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.
Under SBI Realty Home Loan customer can also avail another home loan for construction of house on plot financed. The construction of the home should take place within 5 years from the date the loan has been permitted. Any salaried and non salaried indian professionals who wants to purchase plots for the construction of the house. It provides comfortable repayment tenure upto 10 years with an attractive rate of interest.
1. Interest concession for women borrowers
2. Attractive rate of interest start at 7.65% onwards
3. No prepayment penalties
4. No hidden charges
5. Home loan overdraft facility available
6. Comfortable repayment tenure upto 10 years
7. Must be an Indian Resident
8. It is available for salaried and non salaried Indian professionals
9. Should be a regular source of income
10. Your CIBIL score should be high
To apply for a home loan you have to pay fees and charges applied by the SBI Realty. It covers all charges and fees made by a bank to their customers. The following charges are taken from SBI Realty 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 Realty you should fulfil all basic eligibility criteria as prescribed by the bank. For the SBI Realty Home Loan application is for the salaried and non salaried Indian professionals 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 professionals |
|
AGE |
18 years to 70 years |
|
NATIONALITY |
Indian Resident |
|
INCOME |
If the customer Net annual income is upto Rs.2 lakh, the EMI cannot exceed 30% of the income Within the income of upto Rs.5 lakh, EMI cannot be more than 40% of the income For upto Rs.10 lakh, the maximum EMI is 45% of the income More than Rs.10 lakh, 50% of the income can be paid EMI |
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 Realty:
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 Realty Home loan”
Now click on apply now and fill application form
SBI Realty Home Loan Customer Care
Contact number : 1800112211 / 18004253800
Email id : [email protected]
The following formula is used to calculate EMI of SBI Realty 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
Under SBI Realty Home Loan customer can also avail another home loan for construction of house on plot financed. The construction of the home should take place within 5 years from the date the loan has been permitted.
The maximum loan amount is provided by SBI Realty Home Loan is Rs.15 crore.
The repayment tenure is upto 10 years provided by the SBI Realty Home Loan.
Processing fee charged by SBI Realty Home 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 Realty Home Loan starts at 7.65 percent per annum.
You can apply online or offline by visiting the nearest bank branch for SBI Realty Home Loan.
Salaried and non salaried Indian professionals are eligible to take a SBI Realty Home Loan.
Last Updated on : 24/Aug/2020Know More About
You're eligible for a Sbi Realty 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 Realty Home Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 7.65% - 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 10 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Home Loans EMI Calculator