State Bank of India
Right House will guide you how to avail a home loan from State Bank of India.
Low Processing Charges
Package of exclusive benefits.
Low interest rates. Further, we charge interest on a daily reducing balance!!
No hidden costs or administrative charges.
No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
Over 15,969 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence.
State Bank Rewardz for Home Loan
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.
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.
Equitable mortgage of the property
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
List of papers/ documents applicable to all applicants:
Completed loan application
3 Passport size photographs
Proof of identify (photo copies of Voters ID card/ Passport/ Drivinglicence/ IT PAN card)
Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
Proof of business address for non-salaried individuals
Statement of Bank Account/ Pass Book for last six months
Signature identification from present bankers
Personal Assets and Liabilities statement
For guarantor (wherever applicable):
Personal Assets and Liabilities Statement
2 passport size photographs
Proof of identification as above
Proof of residence as above
Proof of business address as above
Signature identification from his/her present bankers
Additional documents required for salaried persons :
Original Salary Certificate from employer
TDS 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:
Acknowledged copies of three years I.T. returns/ Assessment Orders.
Photocopies of challans evidencing payment of Advance Income Tax.
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/-|
1) Actual charges for the following will be payable by the customer in addition to the processing fee:
Advocate’s fee for property search and the title investigation report.
Valuer’s fee for valuation report.
Stamp duty payable for Loan agreement & mortgage.
Property insurance premium.
Processing fee recovered.
CERSAI 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
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