#1
18th November 2015, 09:44 AM
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SBI Home Loans
Can you tell me in detail about the Loan Schemes - Interest Rates for home loan in SBI or State Bank of India? Also tell me about the documents required for the sanction of the loan?
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#2
18th November 2015, 09:45 AM
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Re: SBI Home Loans
SBI or State Bank of India is an Indian multinational, Public Sector banking and financial services company in India. It is a government-owned corporation with its headquarters in Mumbai, Maharastra. SBI Home Loans Home Loans - Interest Rates with effect from 05.10.2015 (Base Rate: 9.30%) Borrowers' category Women Home Loan interest rate, irrespective of loan limit 20 bps above the BR i.e. 9.50% p.a. EMI per Lac for 30 year Tenor Rs. 841 Maxgain above Rs. 1 crore 45 bps above the BR i.e. 9.75% p.a. CRE Maxgain, irrespective of loan limit 65 bps above the BR i.e. 9.95% p.a. Borrowers' category Others Home Loan interest rate, irrespective of loan limit 25 bps above the BR i.e. 9.55% p.a. EMI per Lac for 30 year Tenor Rs. 845 Maxgain above Rs. 1 crore 50 bps above the BR i.e. 9.80% p.a. CRE Maxgain, irrespective of loan limit 70 bps above the BR i.e. 10% p.a. • The woman should be the sole applicant or first co-applicant of Home Loan and also • The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership Documents Required 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/ Driving • licence/ 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. |