Home Loan from SBI
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How To Take Home Loan From SBI, Its Process

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Home Loan from SBI:- Through today’s article, we have told you in detail how to take a home loan from SBI and how to apply for it. To know complete information about this, definitely read this article till the end.

Home Loan from SBI:- In today’s era, everyone wants to have their own house. Loan from SBI Self-employed and employed people can take loans from SBI with low interest rates. Home loans can also be take from SBI for repair, construction and renovation of existing property.

Who would not want to own a house in big cities, but getting a house is not as easy as we think, so what kind of house do we need, how much is our income, will we be able to repay the loan amount on time or not.

Keeping all these things in mind, SBI is giving home loans at low-interest rates. On taking a loan from SBI, no penalty is levied even on prepayment towards loan repayment. SBI Bank also offers a variety of flexible attractive offers to the applicant in the loan.

Purpose of Home Loan from SBI

With which you can also get discounts on interest rates on the home loan. You will also not have to pay more processing fees for taking a home loan from SBI.

If you are taking a home from SBI, then in most cases a CO-applicant is require. Similarly. It is mandatory for both to be involve in home loans as well.

You are the eldest member in the house then any person in your family can become a CO-applicant. The minimum interest rate for home loans from SBI for both the self-employed and the salaried starts at 6.75% p.a. Its repayment period is also up to 25-30.

If you want to pay your loan ahead of time, then you will not incur any extra penalty for prepayment. SBI has also brought special offers for women. Come friends, now let’s talk about what are the features of home loans from SBI.

Features of Home Loan from SBI

  • Interest rates up to 0.06% for women applicants in SBI.
  • Home loans from SBI starting at 6.75% p.a. with the minimum interest rate for both self-employed and salaried.
  • Getting a lower interest rate will not only reduce the EMI but also reduce the interest payment.
  • SBI Loan Interest Rates 6. 65% per annum Lending institutions generally sanction 75% to 90% of the value of the property that is pledge as the loan amount.
  • There will be no extra penalty on prepayment.
  • Its repayment period is also up to 25-30.
  • Offers a variety of schemes to suit the needs of all home loan applicants.
 Home Loan from SBI
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  • A bank balance transfer facility is also available in this.
  • Do not even have to pay a high processing fee for taking a loan from SBI.
  • You can take a home loan from SBI with a low interest rate.

Documents Required for Home Loan from SBI

  • Following are the documents require for a loan from SBI.
  • Passport size photographs (any 2).
  • Home loan application form from SBI.
  • Identity Card:- Aadhar Card, Driving License, Passport and Pan Card (any of these).
  • Certificates:- Light Bill, Mobile Bill, Voter Id and License etc.
  • Bank statement, ITR and mobile number of last 3-6 months.
  • Income Certificate:- Address Proof of your business, bank balance sheet, complete details of profit and loss in business and income tax return of last 2 years etc.

Eligibility for Home Loan from SBI

  • Must be an Indian citizen.
  • Your age should be 18-60 years old.
  • The credit score should be more than 700-750.
  • Income should be more than 21000 per month.
  • It is mandatory to have your own business or be employ.

Online Application for Home Loan from SBI

You can also apply online for a home loan from SBI by visiting Paisbazaar.com. The complete process of application is give below.

  • On visiting paisabazaar.com, you will get the option of a home loan from SBI there.
  • After clicking there, you will be ask some information, by entering it. tell whether you agree with the terms and conditions given there or not.
  • Then you will have to enter some information related to you and the home loan.
  • After that click on submit.
  • This process is complete, you will be give a message and a reference number from the bank. with the help of which you can track the SBI loan application status.

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