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| Home »Banks Providing home Loans » SBI |
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SBI Home Loans |
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We all want to buy a dream house of our own where we can spend some truly delightful moments with our near and dear ones and when we slog for the entire day it is only provoking thought of the warm welcoming comfort of our sweet home that keeps us going. SBI was accredited with 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. So when it comes to any kind of Bank loans in India and more specifically in case of home loans, SBI Home Loans are preferred by most of the loan seekers.
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The SBI Home Loans are marked by the following impressive features and it is also acknowledged as one of the major banks providing home loans.
- Option to avail Home Loan as a Term Loan or as an Overdraft facility to save on interest and maximize gains
- Option to club income of your spouse and children to compute eligible loan amount
- Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount
- Provision to finance cost of furnishing and consumer durables as part of project cost
- Repayment permitted upto 70 years of age
- Free personal accident insurance cover upto Rs.40 Lac.
- Optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost)
- Interest calculated on daily reducing balance basis, and starts from the date of disbursement.
SBI Home Loans are sanctioned within a brief period of only 6 days from the precise date of submission of required documents and the age limit for application is 18 years. In order to apply for SBI Home Loans, an applicant will need the following credentials.
- Completed application form
- Passport size photograph
- Proof of Identity – PAN Card/ Voters ID/ Passport/ Driving License
- Proof of Residence – Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID
- Proof of business address in respect of businessmen/ industrialists
- Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate, Land/ Building Tax paid receipt etc. (as applicable and subject to satisfaction report from our empaneled lawyer)
- Copy of approved plan and approval from the Local Body
- Statement of Bank Account or Pass Book for last 6 months
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