State Bank of India
Right House will guide you how to avail a home loan from State Bank of India.
Low Processing Charges
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:
Margin/ LTV Ratio:
Individual Home Loan Amount | Margin (Min.)(%) | LTV Ratio (%) |
---|---|---|
Upto Rs. 20 Lacs | 10 | 90 |
Above Rs. 20 Lacs. and upto Rs. 75 lacs | 20 | 80 |
Above Rs. 75 lacs | 25 | 75 |
*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:
For guarantor (wherever applicable):
Additional documents required for salaried persons :
Additional documents required for Professionals/self- employed/ other IT assesses:
FEES
The processing fee structure (including service tax) is as under :
Home Loan Amount | Processing Fee w.e.f. 01.04.2015 |
---|---|
Upto Rs. 25 Lacs | 0.25% of loan amount, minimum Rs. 1000/- |
Above Rs. 25 lacs & upto Rs. 75 lacs | Rs. 6,500/- |
Above Rs. 75 lacs | Rs. 10,000/- |
NOTE
1) Actual charges for the following will be payable by the customer in addition to the processing fee:
a) Pre-sanction
b) Post-sanction
Pre-closure / Pre-payment Penalty – NIL
For more details: Click Here
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