State Bank of India offers SBI Tribal Plus Home loan to help those living in tribal or hill areas. This type of SBI home loan is specially designed to provide financial cushion to the residents of these areas and help them accomplish their goals for an ideal home. The loan does not require mortgage of land and it is offered for various purposes such as purchase of a new house or flat, construction of house, purchase of an old home and repair/extension/renovation of existing house. It comes packed with attractive interest rates and a comfortable repayment tenure. Now, we shall know more about the State Bank Tribal Plus home loan. Let’s go.
|Loan Amount||Up to Rs 10 lakh|
|Interest Charges||Starts at 6.75% per annum|
|Processing Fees||Up to 0.40% + Applicable Taxes|
|Tenure||Up to 15 years|
SBI Tribal home loan is one of the best home loans to consider if you reside in a hill/tribal region. When it comes to home loans, there are lots of checkpoints we need to take care of and they include rate of interest, other fees and charges, loan tenure and not to mention, the procedure. Here are the features and benefits of State bank tribal home loan that you should have a look at:
1. Purpose : SBI Tribal Plus home loan is offered to the residents of tribal and hilly areas. This type of loan is provided to enable people to fund the construction of a new house, purchase of a new/old house or flat, renovation/repair/extension of an existing house.
2. Loan Amount : State Bank of India allows customers to apply for a maximum Rs 10 lakh for SBI Tribal Plus home loan amount.
3. Interest Rate : The SBI Tribal Plus home loan interest charges come to quite an affordability. This type of SBI home loan features the rate of interest starting at as low as 6.75% per annum. The rates can vary based on different factors such as purpose of loan, loan amount, tenure, your profile etc.
4. Loan Tenure : The State Bank of India Tribal Plus home loan features an easy repayment tenure. The SBI tribal home loan ranges up to the flexible tenure of up to 15 years.
5. Interest Concession : SBI Tribal Plus home loan features interest concession for women borrowers.
6. Prepayment : The bank allows you to prepay your loan amount before the tenure ends and foreclose it. If you have funds enough to repay your SBI home loan then you can do it easily without paying any prepayment or foreclosure penalty.
7. Easy Documentation : SBI allows customers to apply for the SBI Tribal Plus housing loan with ease. You can apply for the SBI housing loan offline or online. Besides that, the bank eases the burden off the shoulders with minimum documentation and fast processing.
The next question that comes to mind is the eligibility for SBI tribal home loan. Your eligibility is determined by some important factors like your income, location of home, employment status etc. Before you apply for it, you should make sure that you are eligible for State bank Tribal Plus home loan.
Here is the eligibility criteria for SBI Tribal Plus home loan:
Here are the documents required for SBI Tribal home loan application:
|Documents||Salaried Applicants||Self Employed Applicants|
|Identity Proof||Aadhar Card, Voter’s ID Card, Passport, Driving Licence||Aadhar Card, Voter’s ID Card, Passport, Driving Licence|
|Address Proof||PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills||PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills|
|Income Proof||Salary Slips, Bank Statements, Form 16||Balance sheet and profit and loss account, IT Returns, Business Proof|
|Property Papers||Registered Agreement for Sale, Permission for Construction, Property Tax Receipt Electricity Bill, Maintenance Bill, Approved Plan copy, Conveyance Deed, Bank Statements or Property Receipts reflecting the payments made to the Builder/Seller||Registered Agreement for Sale, Permission for Construction, Property Tax Receipt Electricity Bill, Maintenance Bill, Approved Plan copy, Conveyance Deed, Bank Statements or Property Receipts reflecting the payments made to the Builder/Seller|
|Other Documents||Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank||Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank|
If you want to check the amount which you have to pay for EMI every month, then you can use the SBI home loan EMI calculator. Here is how you can use the home loan EMI calculator to calculate your SBI home loan EMI:
You will now find the total EMI amount you will be paying every month to repay your SBI Tribal Plus home loan.
|AXIS Bank Home Loan||7.75% to 9.40%|
|HDFC Bank Home Loan||6.95% to 7.50%|
|Kotak Mahindra Bank Home Loan||7.40% to 9.70%|
|Yes Bank Home Loan||9.60% to 10.55%|
|Citi Bank Home Loan||7.34% to 8.29%|
|ICICI Bank Home Loan||6.95% to 8.05%|
|Standard Chartered Bank Home Loan||Starting at 8.71%|
|IDBI Bank Home Loan||7.80% to 8.80%|
|RBL Bank Home Loan||9.75% to 10.05%|
|HSBC Bank Home Loan||8.55% to 8.655|
|IndusInd Bank Home Loan||8.00% to 15.00%|
|Bank of Baroda Home Loan||6.85% to 7.75%|
|Bank of India Home Loan||6.85% to 7.755|
|Canara Bank Home Loan||6.90% to 8.90%|
|Indian Bank Home Loan||7.55% to 8.40%|
|Punjab National Bank Home Loan||Starting at 7.00%|
Here are two different ways that you can opt for to apply for State bank home loan:
Apply for SBI Tribal Plus Home Loan Offline
If you wish to apply for a State Bank of India Tribal Plus home loan offline then you can reach out to the bank by visiting the nearest SBI branch. You need to carry all the important documents that are required at the time of application process. You can meet the bank official and have assistance with the SBI home loan application procedure.
Apply for SBI Tribal Plus Home Loan Online
State Bank of India allows customers to enjoy an easygoing way of applying for loans with its online presence. If you want to apply for a SBI Tribal Plus home loan more easily, then you can apply for it online.
Here are the simple steps that you can follow in order to apply for a SBI Tribal Plus home loan online:
At times when you wish to find out the whereabouts of your SBI home loan application, you can track it either offline or online. To know the status of your SBI Tribal Plus home loan application offline, you can reach out to the customer helpline of SBI and enquire about it.
If you want to check the SBI Tribal Plus home loan application online, then here are the simple steps that you have to follow:
If you have any query or you want to raise a complaint regarding the SBI Tribal Plus home loan, then you can contact the SBI customer service.
You can use the following number to reach out to the State Bank of India customer service:
You can track the status of your SBI TRibal Plus home loan application online or offline. You can contact the SBI customer service and enquire about the status of home loan application. Alternatively, you can check the status of your application online by visiting the official SBI bank website.
If it is a home loan for construction then the loan amount will be disbursed in phases as per the progress of construction. On the other hand, the home loan amount for the purchase of a property is disbursed once and for all.
You can check your SBI loan statement by logging into the NetBanking account or you can use the physical copy of the statement for which you have to contact the bank.
The maximum loan amount is provided by SBI Tribal Plus Home Loan is upto Rs.10 lakh
The repayment tenure is up to 15 years provided by the SBI Tribal Plus Home Loan.
The Interest rate provided by SBI Tribal Plus Home Loan starts at 6.95% per annum onwards.Last Updated on : 24/Mar/2021
Know More About
You're eligible for a Sbi Tribal Plus 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 Tribal Plus Home Loan Details|
|Interest Rate (Monthly reducing balance)||6.75% - 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 15 years|
|Pre-closure Charges||Varies with bank|
|Guarantor Requirement||Varies with bank|
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