SBI Home Loan: Features, eligibility, interest rates and documents required

SBI Home Loan: Features, eligibility, interest rates and documents required

SBI Home Loans is the largest mortgage lender in India. According to the bank, it has helped over 30 lakh families to achieve the dream of owning a home. Are you looking for a home loan too? Here are features, eligibility, interest rates & fees and documents required that will put you on fast road to success:-


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Home Loan products to suit every customers need
Low Interest Rates
Low Processing Fee
No Hidden Charges
No Pre Payment Penalty
Interest charges on Daily Reducing Balance
Repayment up to 30 years
Home Loan Available as Overdraft
Interest Concession for Women Borrowers


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


*Interest rate will vary as per the risk score of the customer ** Based on 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 loan amount subject to max. recovery of Rs. 10000/- plus applicable tax.

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


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)


Source:- zeebiz



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