SBI Home Loans

     Contact Srinivas. Ph:9030108575

WELCOME to SBI Home Loans

"THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards along with the MOST PREFERRED BANK AWARD in a survey conducted by TV 18 in association with AC Nielsen-ORG Marg in 21 cities across India.

SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India.

Best Practices followed in SBI mentioned below will tell you why it makes sense to do business with State Bank of India.

SBI Home Loans Unique Advantage

	Package of exclusive benefits.
	Low interest rates. Further, we charge interest on a daily reducing balance!!
	Low processing charges.
	No hidden costs or administrative charges.
	No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
	Over 13,700 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence. 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: ·         Equitable mortgage of the property Margin/ LTV Ratio: Loan Amount Margin (Min.) Maximum LTV Ratio (Max.) Upto Rs. 20 Lacs 10% 90% Above Rs. 20 Lacs. 20% 80% *LTV ratio - Loan to value ratio. HOME LOANS - INTEREST RATES With effect from 04.02.2013  All Rate are floating only  (Base Rate= 9.70% p.a.) Loan Amount Linkage with Base Rate over the tenor of the loan Effective Rate Upto Rs. 30.00 lacs 0.25% above Base Rate 9.95% p.a. Above Rs. 30.00 lacs 0.40% above Base Rate 10.10% p.a. No fixed rate option in any limit bracket. REPAYMENT Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which the loan should be fully repaid) of the borrower, whichever is early. Moratorium period (Repayment holiday): The moratorium period is included within the maximum repayment period. DOCUMENTS 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. For More Details Please Contact Srinivas. Ph: 9030108575