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 SBI Home Loan
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There are number of finance companies offering cheap home loans. State Bank Of India is one such government bank, which understands your needs and helps you to purchase the homes of your dreams. A lot of hard work goes into building a home, owning it and then decorating it. State Bank Of India understands your efforts and for that matter they have designed their Home Loan schemes in a way to make the process hassle free and full transparency has been offered.The Unique Features of their Home Loan Schemes are no cap on maximum loan amount for purchase or construction of house or flat. They give an option to club the income of your partner and children to compute eligible loan amount. You can repay the loan up to 70 years of age. The home loan schemes also have free personal accident insurance cover. They charge no administration fee or application fee. Provision for downward refixation of EMI in respect of floating rate borrowers who avail Housing Loans of Rs.5 lacs and above, to avail the benefit of downward revision of interest rate by 1% or more.
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They have a package for exclusive benefits like complimentary international ATM- Debit card. They provide complimentary SBI Classic and International Credit Card with waiver of joining and first year's fees. State Bank Of India provides an option for E- Banking. There is a concessional package for car home loan borrowers.
They provide Home Loans for various purposes such as: for the purchase or construction of a new house or flat, purchase of an already built house or flat and if you want to buy a plot of land for construction of house. Finance for home is also provided if you want to undertake extension, repair, renovation, and alteration of an existing house or flat, if you wish to buy furniture, furnishings and other commodities for your home. | |
You are Eligible for taking Home Loan if you have a minimum age of 21 years as on the date on which your loan is sanctioned. They charge a processing fee that comes to 0.50 % of loan amount including service tax.
Their Interest Rate amount is of two types- Floating Interest Rate and Fixed Interest Rate. Floating Interest Rate is linked to State Bank Advance Rate- SBAR. The interest rate under Floating Interest Rate is 10.75% and on Fixed Interest Rate it is 9.50% upto first five years then 9.75% above five years and upto ten years.
The most important aspect is that you need to submit duly filled documents as mentioned in their schemes. You need to complete application form, passport size photograph, a proof of identity, proof of Residence, proof of business address and all documents relating to sale deed or agreement deed, tax paid receipt, statement of bank account etc.
State Bank Of India has four types of Home Loan schemes under which they provide finance:
- 'SBI-Flexi' Home Loans
- 'SBI-Maxgain' Home Loans
- 'SBI-Realty' Home Loans
- 'SBI-Freedom' Home Loans
State Bank Of India is a nationalized bank so you can fully trust them. They have branches all over India and in every city. So the process is totally hassle free.
Website:http://www.sbicard.com/sbi/ |
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