State Bank of India SBI Home Loans

Daily Reducing Balance Home Loans from SBI are the most preferred ones by customers.

Base Rate of loans issued by SBI are at 7.5%

Processing Fees charged can go up to Rs. 2,000 There are no Prepayment charges payable on loans taken from State Bank.

Guarantor's are required by SB for granting home loans to customers.

8% to 9% fixed Interest Rate based on Daily reducing balance is applicable on loans of tenure 1 to 3 years.

For loans from 50 lakhs and above floating interest rates of 9.25% to 9.75% is charged for loans above 4 years.

Most attractive types of housing finance loans offered by State Bank of India are ,

Recently State Bank of India had hiked Rates of deposits giving more returns to its investors deposits like NRE, FCNR and Term Deposits.

Documents required by State Bank of India for granting housing finance loans to borrowers are as follows,

Identity proofs , Residence Proofs , Last 6 months bank statements of both the Applicant and Guarantor.

For Salaried employees , Form 16 along with Latest Salary slip of both applicant and guarantor is required.

And for Self Employed people , Last 3 years IT Returns , P&L account and Balance Sheet and qualifying certificates of education are required.

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