SBI Home Loan: SBI is the largest Mortgage Lender in India, which has helped over 30 lakh families to achieve the dream of owning a home. SBI is taking continuous effort to make affordable housing conveniently accessible to customers with dreams of owning their desired home. The bank offers home loan customized 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.
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 Business size – Rs. 5.05 lakh crore
SBI Home Loan Market Share – 34.77%
Home Loan tenure – 3-30 years
Interest rate – SBI offers credit score linked home loans at just 6.70%, irrespective of the loan amount
SBI Home Loan calculator – This basic calculator will help you to calculate the EMI, monthly interest and monthly reducing balance on the basis of principal amount, loan tenure and interest rate. Customers can put in the desired home loan amount, number of years and interest rate (6.70%) to get their EMI figure.
Illustration of EMI calculation for Home loan of Rs. 50 lakh for 20 years at 6.70% (For representation purpose only)
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Apply online – Customers can click on the link below to apply for the home loan, fill in the required details, check eligibility and get the loan quotation:
Avail home loan using YONO SBI at the comfort of your homes:
· Login to your YONO account
· On the home page, click on the menu (three lines) on the top extreme left
· Click on loans
· Click on Home Loan
· Do a quick eligibility check by providing your date of birth
· Enter your income source
· Enter your net monthly income
· Details of any other loans
· Check your eligible loan amount and proceed
· Fill in the other required details and click on submit
· You will get a reference number and an SBI executive will call you shortly
Documents required for availing the loan
· 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)