Welcome to SBI (State Bank of India) Home Loan Bangalore
SBI home loan has been awarded “The most preferred home loan provider” by Awaaz consumer awards in 2014. This has been possible due to the unique advantages offered by SBI Bank. It offers low rate of interest, low processing charges and no prepayment penalties. There are more than 15,969 SBI branches all over India so the customers can avail home loans from the nearest branch.
Features and Benefits of SBI Home Loan Bangalore
- SBI Bank charges lower interest rates. The interest is charged on reducing balance. It offers interest rates in the range of 10.15%to 10.40%
- Low processing charges and no hidden cost or administrative charges
- There are no prepayment charges
- Loan Tenure for SBI home loan is maximum 30 years or up to the age of 70 years of the borrower whichever is earlier
- It offers high loan amount: The loan amount is decided based on the factors like income, repaying capacity, age, asset/ liabilities and cost of the property.
- SBI Bank gives up to 90% of the property value as home loan.
|Home loan amount
||Loan to Property Value Ratio
|Up to Rs.25 Lakhs
|Above Rs. 20 Lakhs and up to Rs. 75 Lakhs
|Above Rs. 75 Lakhs
- SBI Bank offer various home loan products:
- SBI MAXGAIN: In scheme the home loan is taken as an overdraft with the flexibility to operate the home loan account as a current account. This helps to reduce their interest burden with no extra cost.
- SBI YUVA Home Loan: This a scheme especially for the youth i.e. people in the age group 21 years to 45 years. It provides 20% higher loan than that of normal home loan offered to salaried employees of private sector companies/MNCs/Government undertaking/PSUs.
- NRI Home Loan: SBI offers home loans to Non Residents Indians and persons of Indian origin.
- SBI Realty: SBI provides home loan for purchase of plot for construction of a housing unit.
- SBI PAL: The pre approved home loan provides sanction of home loan limits to its borrowers before finalizing the property so that they can negotiate with the builder/seller.
- SBI TRIBAL Plus: It is a special home loan for hilly and tribal areas.
SBI Home loan interest rate
||Home Loan interest rate
||Maxgain above Rs. 1 crore
Processing fees: Processing fees has been waived on all home loan proposals during 1st Oct 2014 to 31st December, if the loans have been sanctioned by CPCs/branches latest by 31st January 2015.
Prepayment charges are nil
Applying for SBI Home Loan through Home Loan Bangalore
Home Loan Bangalore has collaboration with SBI Bank to provide home loans to the customers. The customers get easy and quick SBI home loan at their doorstep if they apply through Home Loan Bangalore
- The Home Loan Bangalore website provides a summary about the home loan offered by SBI Bank. The readers can compare the home loan features provided by other banks and choose the best options.
- The website of Home Loan Bangalore.com provides an interest rate comparison table where the loan seekers can compare the interest rates of SBI Bank with other Banks. The interest rate table is updated regularly by the Home Loan Bangalore.com team.
- The Home Loan Bangalore Team.com provides expert services to its customer and helps them to choose the best home loan deals available. The experts explain the various scheme offered by SBI Bank to the loan seeker so that they can decided on the best deals suitable to them according to their income and repayment capacity.
- Home Loan Bangalore.com takes care of the entire documentation process for home loan for its customers. The customers don’t need to worry about the standing in the long queues of the banks to submit the documents and get their loan processed.
SBI Home Loan Eligibility
The borrower in the age group of 18 years to 70 years can apply for SBI Home loans. The loan amount is decided on the basis of income, repaying capacity, assets / liabilities and cost of the property.
Required Documents for SBI Home Loan
|Loan application with 3 passport size photographs
|Proof of Identity( Passport, driving license, Voters ID card, IT PAN Card)
|Proof of residence( photo copies of recent telephone bills/electricity bills/property tax receipts/Passport/Voters ID)
|Proof of business address for non-salaried individuals
|Statement of Bank Account/Pass Book for last 6 months
|Signature identification from present bankers
|Personal Assets and Liabilities statement
|Additional documents for salaried individuals
- Original salary certificate from the employer
- TDS certification Form 16or copy of IT returns for last 2 years
|Additional documents for required for professional/self employed/other IT assesses
- Acknowledged copies of the IT returns of last 3 years
- Photocopies of the challans showing payment of Advance Income Tax
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