SBI Home Loan

SBI Home Loans: India's largest lender, State Bank of India (SBI) says that it has helped over 30 lakh families to achieve the dream of owning a home. The bank says it offers home loan customised as per the requirement of individuals with home loans such as Regular Home Loan, SBI Privilege Home Loan for government employees, SBI Shaurya Home Loan for army and defense personnel, SBI MaxGain Home Loan, SBI Smart Home, Top-up Loan for existing customers, SBI NRI Home Loan, SBI FlexiPay Home Loan for loan of higher amount and SBI HerGhar Home Loan for women.

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SBI HOME LOAN FEATURES AND BENEFITS

Low interest rates
Zero processing charges
No hidden or administrative charges
Interest concession for women borrowers
First-of-its kind credit score linked home loans
No prepayment penalties
Interest calculation on a daily reducing balance
Home loan also available as an overdraft

SBI HOME LOAN ELIGIBILITY

Resident Type: Resident Indian
Minimum Age: 18 years
Maximum Age: 70 years
Loan Tenure: up to 30 years.

SBI HOME LOAN DOCUMENTS REQUIRED

List of papers/ documents applicable to all applicants:

Employer Identity Card
Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Papers:

Permission for construction (where applicable)
Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
Occupancy Certificate (in case of ready to move property)
Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

Salary Slip or Salary Certificate of last 3 months
Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

Business address proof

IT returns for last 3 years
Balance Sheet & Profit & Loss A/c for last 3 years
Business License Details(or equivalent)
TDS Certificate (Form 16A, if applicable)
Certificate of qualification (for C.A./ Doctor and other professionals)

SBI Home Loan - Features, Benefits & Documents