The purpose to provide SBI Home Loan is:
1. Purchase/Construction of House/Flat.
2. Purchase of Plot and construction of house thereon
3. Repairs/ improvements/ extension of the existing residential property.
Eligibility- A person should be a resident of India and must be at-least 18 years of age. Maximum age is fixed at 70 years.Maximum loan tenure is 30 years or up to the age of 70 years of borrower whichever is earlier .
HOME LOANS: FLOATING INTEREST CARD RATES
| AMOUNT | SALARIED | |
|---|---|---|
| TERM LOAN | MAXGAIN | |
|
Up to Rs 30 Lacs
|
EBR + 15 bps
ER: 7.20% (ER: Effective Rate) |
EBR + 40 bps
ER: 7.45% |
|
Above Rs 30 Lacs to Rs 75 Lacs
|
EBR + 40 bps
ER: 7.45% |
EBR + 65 bps
ER: 7.70% |
|
Above Rs 75 Lacs
|
EBR + 50 bps
ER: 7.55% |
EBR + 75bps
ER: 7.80% |
Case Study- Person A is working in some private sector company with net salary of Rs. 30,000/- monthly. If he did not have any plot or site for construction, he is eligible for the loan of Rs. 22 Lakhs with an EMI of Rs. 14,993/- only.Kindly find the photo below which will make you more clear.
If you are interested to know your loan eligibility then contact me at admin@bankingzone.in
To know more about Stat Bank of India home loan special offers and schemes, kindly visit here.
You can also calculate your home loan EMI by visiting the link here.
The list of Papers/documents required:
- Employee Id Card
- Loan Application form duly filled.
- Identity and Address proof.
- Permission for construction (where applicable)
- Occupancy certificate (In case of ready to move property).
- Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property).
- Last 6 months Bank Account Statements for all Bank Accounts held by the applicant.
- Salary Slip or Salary Certificate of last 3 months, Form 16 for last 2 years.
Kindly visit here if you are looking for Vehicle loan or Education loan.