Here is a look at the features and documents required to avail a home loan from the PSU lender, according to a press release issued by SBI.
- Home loan tenure: 3-30 years
- Interest rate: SBI offers credit score linked home loans at just 6.70%, irrespective of the loan amount
- Zero processing charges
- No hidden or administrative charges
- Interest concession for women borrowers
- Credit score linked home loans
- No prepayment penalties
- Interest calculation on a daily reducing balance
- Home loan also available as an overdraft
How to apply online
Customers can click on the link below to apply for the home loan, fill in the required details, check eligibility and get the loan quotation:
https://onlineapply.sbi.co.in/personal-banking/home-loan?se=SBI-Microsite&cp=Homeloan&Ag=SBI-Microsite
How to avail home loan using YONO SBI
- Login to your YONO account
- On the home page, click on the menu (three lines) on the top extreme left
- Click on loans
- Click on Home Loan
- Do a quick eligibility check by providing your date of birth
- Enter your income source
- Enter your net monthly income
- Details of any other loans
- Check your eligible loan amount and proceed
- Fill in the other required details and click on submit
- You will get a reference number and an SBI executive will call you shortly
Use ET Online’s home loan calculator to calculate EMI of your home loan and your loan repayment schedule in regular installments over a period of time.
What are the documents required
- Employer Identity Card
- Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
- Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
- Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
Property papers
- Permission for construction (where applicable)
- Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
- Occupancy Certificate (in case of ready to move property)
- Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
- Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
- Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller
Also read: SBI cuts home loan interest rate to 6.7%, waives processing fees, gives incentive for non-salaried borrowers
Account statement
- Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
- If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
Income Proof for Salaried Applicant/ Co-applicant/ Guarantor
- Salary Slip or Salary Certificate of last 3 months
- Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by income tax department
Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor
- Business address proof
- IT returns for last 3 years
- Balance Sheet & Profit & Loss A/c for last 3 years
- Business License Details(or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A./ Doctor and other professionals)
