SBI Bank

 

	Home Loan	Loan Against Property
Interest Rate	6.95% - 7.85% (Compare Offers)	9.50% - 11.0% (Compare Offers)
Processing Fees	Minimum 10000/- Up to 0.50%	Minimum 0.50% Up to 1%
Loan Amount	Minimum 20 lacs Maximum - As per Income	Minimum 20 lacs Maximum - As per Income
Tenure	Upto 30 years	Upto 15 years
Lowest EMI per lac	751/- per lac	1029/- per lac
Prepayment Penalty	0% for Floating rate home loans	0% for Individuals 2% for others
Click here to Apply for Sbi Home Loans Click here to Apply for SBI Loan Against Prop.

 

State Bank Of India is the biggest Mortgage Lender in India SBI helped over 3M families to obtain the dream of having a Home. SBI has 22 thousand Plus branches all over the world.

1. SBI Bank Home Loans:

 

Customer Profiles:

 ♦ Salaried Individuals

 ♦ Self-Employed Professionals like Doctors, CAs, Architects 

 ♦ Self-Employed Businessmen

 ♦ NRI Salaried & Self-Employed

Purpose:

 ♦ For New / Old Home Purchase

♦ For Home Improvement

♦ For Home Construction

♦ For Plot Purchase

♦ Balance Transfer

♦ Top-up with BT or existing home loans

♦ Home Loan for NRIs

 

Age Limit:

 ♦ For Salaried: Minimum 24 years at loan application and Maximum Retirement age on loan maturity

 ♦ For Self-Employed: Minimum 24 years at loan application and Maximum 65 years on loan maturity

 

Loan Amount:

 ♦ Minimum 20 lacs and Maximum - As per Income

 

Maximum Funding:

 ♦  Up to 90% of Property Cost for Home Purchase

 ♦ Up to 75% of Property Cost for Plot Purchase

 

Tenure:

 ♦ Up to 30 years for Home Purchase ( 25 years for NRIs)

 ♦ Up to 15 years for Plot Purchase

 

Home Loan Interest Rate:

 ♦ SBI Home Loan interest range from 6.95% to 7.85%

Click here to compare Home Loan interest rates with other Banks

 

Type of Interest Rates:

 ♦ Both Floating or Fixed rate is available

 

Processing Fees:

 ♦ Minimum 10,000/- and Maximum upto 0.30% + GST

 

Documentation:

 ♦ Normal Home Loan Documentation is required. Click here to know more

 

Prepayment Penalty:

 ♦ 0% for Floating rate home loans

 

Tax Benefits:

Multiple Tax Benefits on both Interest and Principal repayment under the following sections of the Indian Income Tax Act, 1961:

 

S.No.	IT Act Section	Principal / Interest	Maximum Amount
1.	Sector-24(d)	Interest	2,00,000
2.	Sector-80C	Principal	1,50,000
3.	Sector-80EEA	Interest	150,000

 

Pradhan Mantri Awas Yojana (PMAY) Interest Subsidy:

 ♦ SBI Home Loans are eligible for Interest Subsidy under the PMAY Scheme. 

Click here to calculate your interest subsidy amount…

Click here to Apply for SBI  Home Loans

 

SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of SBI. It includes options for purchase of ready built property, purchase of under construction property, purchase of pre-owned homes, construction of a house, extension of house and repair/renovation.

 

Key Features & Benefits:

♦ Home Loan Products to match every customer Requirement. 

♦ Low-Interest Rates 

♦ Low Processing Fee 

♦ No Hidden Charges 

♦ No Prepayment Penalty.

♦ Interest Charges on Daily Reducing Balance.

♦ Repayment up to 30 Years 

♦ Home Loan Available as Overdraft.

♦ Interest Concession for Women Borrowers..

 

How it Works:

♦ Customer opts for a SBI Home Loan while filling up the Application form

♦ Home Loan is sanctioned in the usual manner

♦ Savings A/c is opened in SBI unless the customer already has an account in SBI

♦ Home Loan is disbursed in the usual manner

♦ Customer receives for the SBI Bank A/c - Cheque Book, Internet Banking, ATM card etc.

♦ Customer can immediately start parking funds in this account and use it like a Bank A/c

♦ Interest is charged only on the Principal Outstanding minus any excess funds parked in the account calculated on a daily basis, similar to an Overdraft account

 

Customer Profiles:

♦ Salaried Individuals

♦ Self-Employed Professionals like Doctors, CAs, Architects

♦ Self-Employed Businessmen

 

Purpose:

♦ For New / Old Home Purchase

♦ For Home Construction

♦ For Plot Purchase + Construction

♦ Balance Transfer

 

Loan Amount:

♦ Minimum 50 lacs and Maximum - As per Income

 

Tenure:

♦ Upto 22 years for Home Purchase

 

Home Loan Interest Rate:

♦ SBIHome Loan interest range from 6.95%

Click here to compare Home Loan interest rates with other Banks

 

Type of Interest Rates:

♦ Only Floating rates are available

 

Processing Fees:

♦ Upto 0.30% + GST

 

Documentation:

♦ Normal Home Loan Documentation is required. Click here to know more

 

Prepayment Penalty:

♦ 0% for Floating rate home loans

 

Tax Benefits:

♦ Same as for SBI Home Loan above

 

Pradhan Mantri Awas Yojana (PMAY) Interest Subsidy:

♦ SBI  SuperHome Loans are eligible for Interest Subsidy under the PMAY Scheme. 

Click here to calculate your interest subsidy amount…

Click here to Apply for SBI Regular Home Loans

 

Switch your Home Loan to SBI and Save Big!

SBI offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to the condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the Bank's instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat

 

Key Features:

♦ Low Interest Rates

♦ No Hidden Charges

♦ No Pre Payment Penalty

♦ Interest charges on Daily Reducing Balance

♦ Home Loan Available as Overdraft

♦ Interest Concession for Women Borrowers

 

Eligibility 

 

♦ Resident Type: Resident Indian

♦ Minimum Age: 18 years

♦ Maximum Age: 70 years

♦ Extended Loan Tenure

 

Interest Rates & Fees 

The interest rate will vary as per the risk score of the customer, Based on the LTV of the Customer

Consolidated Processing Fee structure (including Advocate Fee and Valuer Fees) will be as under:

“0.40% of the loan amount plus applicable GST subject to a minimum of Rs 10000/- and maximum of Rs 30000/- plus GST.

However, for builder tie up projects where individual TIR and Valuation Is not required: 0.40% of the loan amount subject to a max. recovery of Rs. 10000/- plus applicable tax.

And, if TIR and Valuation are required, then normal charge as mentioned above will be applicable.

 

Let your current income not stop you from owning your dream home.

SBI Flexipay Home loan provides eligibility for a higher loan amount exclusively for the salaried borrowers. It offers customer the option to pay only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the subsequent years. This variant of SBI home loan is very useful for young earners. The SBI Flexipay home loan has the potential to lure a large section of home loan buyer towards SBI.

 

Features    

♦ Low Interest Rates

♦ Low Processing Fee

♦ No Hidden Charges

♦ No Pre Payment Penalty

♦ 20% higher home loan eligibility

♦ Interest charges on Daily Reducing Balance

♦ Repayment up to 30 years

♦ Interest Concession for Women Borrowers

 

Eligibility

♦ Resident Type: Resident Indian

♦ Minimum Age: 21 years

♦ Maximum Age: 45 years, to apply for a loan, and up to age of 70 years for repayment

♦ Loan Tenure: up to 30 year