SBI Home Loan

State Bank of India Home Loan

SBI has been awarded “The Most Preferred Home Loan Provider” by AWAAZ Consumer Awards. SBI home loans give concession on interest rates on GREEN HOMES under its environment protection program. SBI has different options for loan borrowers such as ‘SBI – Flexi’ home loans provides borrowers a one time irrevocable option to choose one of the three combinations of fixed and floating interest rates and also to choose the order in which the fixed and floating rate will be availed. The other is ‘SBI- Maxgain’ home loans - earn optimal yield on savings and minimize interest burden on home loans, with no extra cost. ‘SBI –Realty’ Home loans - purchase a plot of land for house construction. ‘SBI – Freedom’ Home loans – who want to invest in a property without mortgaging the same. SBI offers ‘SBI – Optima’ additional home loans and ‘SBI – Homeline’ special personal loans for existing home loan borrowers who have a repayment record of 3 years, etc.

Intrest Rates

Tenure	Interest Type	Interest Rate	Offer
20 - 25 Yrs.	Floating	11 %
15 - 20 Yrs.	Floating	11 %
10 - 15 Yrs.	Floating	11 %
4 - 10 Yrs.	Floating	11 %
2 - 3 Yrs.	Fixed	9.25 %
1 - 2 Yrs.	Fixed	8.5 %

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.