“The most preferred HOME loan provider” chimed in Awaaz Consumer Awards along with the most preferred BANK AWARD in a survey conducted by TV 18 in collaboration with AC Nielsen-ORG Marg in 21 cities across India.
SBI HOME LOANS now offers Interest concessions on green homes according to SBI’s commitment to environmental protection. SBI home loan comes to you on a solid foundation of trust and transparency built in the tradition of State Bank of India.
It offers home loans for a variety of purposes:
- Purchase/ construction of new House/ Flat,
- Purchase of an existing House/ Flat,
- Purchase of a plot of land for construction of House and
- Extension/ repair/ renovation/ alteration of an existing House/ Flat.
Options of home loans :
- SBI Maxgain Home
- SBI-Flexi Home Loans
- SBI-Realty Home Loans
- SBI-Freedom Home Loans
It gives a biggest home loans rates.I gives to fully intrested rates of home loans.
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SBI Rate of Interest*
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Tenure
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Rate of Interest
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Up to 5 years
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10.75%
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Above 5 years and up to 20 years
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11.25%
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Eligibility :
- Minimum age of 18 years as on the date of sanction
- Steady source of income.
Eligibility Criteria :
- Minimum age 21 years
- Steady source of income
- Valid job contract or work permit
- Valid Indian Passport (for NRIs)/ valid foreign passport (for PIOs)
- Employed abroad for at least 2 years
Minimum net monthly income (NMI) of US$ 500 or minimum Net Annual Income (NAI) of US$ 6000/- (or its equivalent in any other foreign currency)
Benifits of SBI Home Loan
- Package of exclusive benefits.
- Lowest interest rates. Further, we charge interest on a daily reducing balance!!
- Low processing charges.
- No hidden costs or administrative charges.
- No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
- Over 12000 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence
Loan Amount:
- There is no cap on maximum loan amount for purchase/ construction of house/ flat.
- The loan amount is applicable to an applicant/ any one of the applicants aged over 21 years and up to 45 years, to the extent of 60 times Net Monthly Income (NMI) or 5 times Net Annual Income (NAI), subject to aggregate repayment obligations not exceeding 57.50% of NMI/ NAI.
- For applicant(s) aged over 45 years of age, it comes to 48 times NMI or 4 times NAI, subject to aggregate repayment obligations not exceeding 50%of NMI/ NAI.
Processing Fee:
Processing fee is 0.50% of the loan amount with a cap of Rs.10, 000/-(including Service Tax). No administrative charges or application fee is charged.
source : review4ever.com
