State Bank of India

HDFC Bank

Right House will guide you how to avail a home loan from State Bank of India.

check-markLow Processing Charges

check-markPackage of exclusive benefits.

check-markLow interest rates. Further, we charge interest on a daily reducing balance!!

check-markNo hidden costs or administrative charges.

check-markNo prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.

check-markOver 15,969 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence.

check-markState Bank Rewardz for Home Loan

FEATURES

Eligibility:

Minimum age: 18 years as on the date of sanction

Maximum age: 70 years. i.e. the age by which the loan should be fully repaid, subject to availability of sufficient, regular and continuous source of income for servicing the loan repayment.

Loan Amount:

Actual loan amount will be determined taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc. To enhance loan eligibility you have option to add:

1) Income of your spouse/ your son/ daughter living with you, provided they have a steady income and his/ her salary account is maintained with SBI.

2) Expected rent accruals (less taxes, cess, etc.) if the house/ flat being purchased is proposed to be rented out.

3) Depreciation, subject to some conditions.

4) Regular income from all sources.

Security:

check-markEquitable mortgage of the property

Margin/ LTV Ratio:

Individual Home Loan AmountMargin (Min.)(%)LTV Ratio (%)
Upto Rs. 20 Lacs1090
Above Rs. 20 Lacs. and upto Rs. 75 lacs2080
Above Rs. 75 lacs2575

*LTV ratio- 18 years as on the date of sanction

Interest rates:

Click here to view the interest rates

DOCUMENTS

 

List of papers/ documents applicable to all applicants:

check-markCompleted loan application

check-mark3 Passport size photographs

check-markProof of identify (photo copies of Voters ID card/ Passport/ Drivinglicence/ IT PAN card)

check-markProof of residence (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)

check-markProof of business address for non-salaried individuals

check-markStatement of Bank Account/ Pass Book for last six months

check-markSignature identification from present bankers

check-markPersonal Assets and Liabilities statement

For guarantor (wherever applicable):

check-markPersonal Assets and Liabilities Statement

check-mark2 passport size photographs

check-markProof of identification as above

check-markProof of residence as above

check-markProof of business address as above

check-markSignature identification from his/her present bankers

Additional documents required for salaried persons :

check-markOriginal Salary Certificate from employer

check-markTDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt.

Additional documents required for Professionals/self- employed/ other IT assesses:

check-markAcknowledged copies of three years I.T. returns/ Assessment Orders.

check-markPhotocopies of challans evidencing payment of Advance Income Tax.

FEES

The processing fee structure (including service tax) is as under :

Home Loan AmountProcessing Fee w.e.f. 01.04.2015
Upto Rs. 25 Lacs0.25% of loan amount, minimum Rs. 1000/-
Above Rs. 25 lacs & upto Rs. 75 lacsRs. 6,500/-
Above Rs. 75 lacsRs. 10,000/-

NOTE

 

1) Actual charges for the following will be payable by the customer in addition to the processing fee:

 

a) Pre-sanction

check-markAdvocate’s fee for property search and the title investigation report.

check-markValuer’s fee for valuation report.

b) Post-sanction

check-markStamp duty payable for Loan agreement & mortgage.

check-markProperty insurance premium.

check-markProcessing fee recovered.

check-markCERSAI Registration Fee of Rs 250/- + service tax up to Rs 5 lakh limit and Rs 500+service tax for limits above Rs 5lakhs

Pre-closure / Pre-payment Penalty – NIL

For more details: Click Here

 

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