HOME LOANS: FLOATING INTEREST CARD RATES W.E.F.10.07.2019


The mean interest rate for Home Loans for the quarter ended June 2019 is : 8.5901  .


(A)- HOME LOANS (TERM LOAN):


I. TERM LOANS UPTO RS 30 LACS(1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

LTV ≤ 80
1 Year MCLR+ 10 bps, ER:8.50
1 Year MCLR+ 25 bps, ER:8.65
LTV > 80
and ≤ 90
1 Year MCLR+ 20 bps, ER:8.60
1 Year MCLR+ 35 bps, ER:8.75

Other

LTV ≤ 80
1 Year MCLR+ 15 bps, ER:8.55
1 Year MCLR+ 30 bps, ER:8.70
LTV > 80
and ≤ 90
1 Year MCLR+ 25 bps, ER:8.65
1 Year MCLR+ 40 bps, ER:8.80

II. TERM LOANS ABOVE RS 30 LACS AND UPTO RS 75 LACS: (1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3
1 Year MCLR+ 35 bps, ER:8.75
1 Year MCLR+ 50 bps, ER:8.90
RG-4, 5, 6
1 Year MCLR+ 45 bps, ER:8.85
1 Year MCLR+ 60 bps, ER:9.00

Other

RG-1, 2, 3
1 Year MCLR+ 40 bps, ER:8.80
1 Year MCLR+ 55 bps, ER:8.95
RG-4, 5, 6
Year MCLR+ 50 bps, ER:8.90
1 Year MCLR+ 65 bps, ER:9.05

III. TERM LOANS ABOVE RS 75.00 LACS – FLOATING RATE: (1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3
1 Year MCLR+ 45 bps, ER:8.85
1 Year MCLR+ 60 bps, ER:9.00
RG-4, 5, 6
1 Year MCLR+ 55 bps, ER:8.95
1 Year MCLR+ 70 bps, ER:9.10

Other

RG-1, 2, 3
1 Year MCLR+ 50 bps, ER:8.90
1 Year MCLR+ 65 bps, ER:9.05
RG-4, 5, 6
1 Year MCLR+ 60 bps, ER:9.00
1 Year MCLR+ 80 bps, ER:9.20

(B)- MAXGAIN - FLOATING INTEREST CARD RATE:


I. Loans Above Rs 20.00 Lacs & Up to Rs 30.00 Lacs (1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

LTV ≤ 80
1 Year MCLR+ 15 bps, ER:8.55
1 Year MCLR+ 35 bps, ER:8.75
LTV > 80
and ≤ 90
1 Year MCLR+ 25 bps, ER:8.65
1 Year MCLR+ 45 bps, ER:8.85

Other

LTV ≤ 80
1 Year MCLR+ 20 bps, ER:8.60
1 Year MCLR+ 40 bps, ER:8.80
LTV > 80
and ≤ 90
1 Year MCLR+ 30 bps, ER:8.70
1 Year MCLR+ 50 bps, ER:8.90

II. MAXGAIN-LOANS ABOVE RS 30 LACS & Up to RS 75 LACS (1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3
1 Year MCLR+ 45 bps, ER:8.85
1 Year MCLR+ 65 bps, ER:9.05
RG-4, 5, 6
1 Year MCLR+ 55 bps, ER:8.95
1 Year MCLR+ 75 bps, ER:9.15

Other

RG-1, 2, 3
1 Year MCLR+ 50 bps, ER:8.90
1 Year MCLR+ 70 bps, ER:9.10
RG-4, 5, 6
1 Year MCLR+ 60 bps, ER:9.00
1 Year MCLR+ 80 bps, ER: 9.20

III. MAXGAIN-LOANS ABOVE RS 75 LACS & UPTO RS 3 CRS- FLOATING RATE (1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3
1-year MCLR +60 bps, ER:9.00
1 Year MCLR+ 80 bps, ER:9.20
RG-4, 5, 6
1 Year MCLR+ 70 bps, ER: 9.10
1 Year MCLR+ 90 bps, ER:9.30

Other

RG-1, 2, 3
1 Year MCLR+ 65 bps, ER: 9.05
1 Year MCLR+ 85 bps, ER:9.25
RG-4, 5, 6
1 Year MCLR+ 75 bps, ER: 9.15
1 Year MCLR+95 bps, ER:9.35

IV. MAXGAIN-LOANS ABOVE RS 3 CRS- FLOATING RATE: will be available to existing Home Loan customers only for switch over of their Home Loan accounts from Base Rate/SBAR/Higher interest rate linked to MCLR to the current Floating Interest card rate linked 1-year MCLR.(1-yr MCLR: 8.40%)

Revised Interest Rate

 

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Women

RG-1, 2 ,3
1 Year MCLR+ 95 bps, ER:9.35
1 Year MCLR+ 115 bps, ER:9.55
RG-4, 5, 6
1 Year MCLR+ 105 bps, ER: 9.45
1 Year MCLR+ 125 bps, ER:9.65

Other

RG-1, 2, 3
1 Year MCLR+ 100 bps, ER: 9.40
1 Year MCLR+ 120 bps, ER:9.60
RG-4, 5, 6
1 Year MCLR+ 110 bps, ER: 9.50
1 Year MCLR+130 bps, ER:9.70

(C)- HOME TOP UP LOANS: CARD RATES:


I. INSTA HOME TOP UP LOAN (1-yr MCLR: 8.40%)

  Revised Interest Rate

Insta Home Top Up Loan (Rs.1 lac to Rs.5 lacs)

100 bps above 1-year MCLR, ER: 9.40%, irrespective of Risk Grades, gender and occupation.

II. HOME TOP UP LOANS (other than Insta Home Top Up Loans) WITHOUT EXTENSION OF MORTGAGE ON HOUSE PROPERTY:

Particulars Salaried Non - Salaried

Term Loan (Upto Rs 5.00 lacs)

1-year MCLR+100 bps, ER: 9.40
1-year MCLR+ 150 bps, ER:9.90

III.SMART HOME TOP-UP LOAN:
(1 Year MCLR: 8.40%)

Particulars Salaried Non - Salaried

Term Loan

1-year MCLR+ 100 bps, ER: 9.40
1-year MCLR+ 150 bps, ER: 9.90

Overdraft

1-year MCLR+ 150 bps, ER: 9.90
1-year MCLR+ 200 bps, ER: 10.40

IV. HOME TOP UP LOANS (other than Insta Home Top Up Loans) WITH EXTENSION OF MORTGAGE ON HOUSE PROPERTY : (1-yr MCLR: 8.40%)

Home Top-up Term Loan
Revised Interest Rate

 

Risk Grade

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Above Rs 5 lacs and upto Rs. 20lacs

1, 2 ,3
1 Year MCLR+ 45 bps, ER: 8.85
1 Year MCLR+ 60 bps, ER: 9.00
4, 5 ,6
1 Year MCLR+ 55 bps, ER: 8.95
1 Year MCLR+ 70 bps, ER: 9.10

Above Rs.20lacs and up to Rs.1crore

1, 2 ,3
1 Year MCLR+ 65 bps, ER: 9.05
1 Year MCLR+ 80 bps, ER: 9.20
4, 5 ,6
1 Year MCLR + 75 bps, ER: 9.15
1 Year MCLR + 90 bps, ER: 9.30

Above Rs.1 crore and up to Rs.2crores

1, 2 ,3
1 Year MCLR + 85 bps, ER: 9.25
1 Year MCLR + 100 bps, ER: 9.40
4, 5 ,6
1 Year MCLR + 95 bps, ER: 9.35
1 Year MCLR + 110 bps, ER: 9.50

Above Rs.2 crores and up to Rs.5crores

1, 2 ,3
1 Year MCLR + 130 bps, ER: 9.70
1 Year MCLR + 145 bps, ER: 9.85
4, 5 ,6
1 Year MCLR + 140 bps, ER: 9.80
1 Year MCLR + 155 bps, ER: 9.95

Above Rs.5 crores

1, 2 ,3
1 Year MCLR+ 250 bps, ER: 10.90
1 Year MCLR+ 275 bps, ER:11.15
4, 5 ,6
1 Year MCLR+ 300 bps, ER: 11.40
1 Year MCLR+325 bps, ER:11.65

HOME TOP UP TERM LOANS (other than Insta Home Top Up Loans) WITH EXTENSION OF MORTGAGE ON HOUSE PROPERTY ABOVE RS 5 CRORES : will be available to existing Home Loan customers only for switch over of their Home Loan accounts from Base Rate/SBAR/Higher interest rate linked to MCLR to the current Floating Interest card rate linked 1-year MCLR

Home Top-up Overdraft
Revised Interest Rate

 

Risk Grade

Salaried Borrowers (%) :

Non-Salaried Borrowers (%) :

Overdraft above Rs 20 lacs and up to Rs 1 crore

1, 2 ,3
1 Year MCLR + 135 bps, ER: 9.75
1 Year MCLR + 150 bps, ER: 9.90
4, 5 ,6
1 Year MCLR + 145 bps, ER: 9.85
1 Year MCLR + 160 bps, ER: 10.00

Overdraft above Rs.1 crore and up to Rs.2 crores

1, 2 ,3
1 Year MCLR + 160 bps, ER: 10.00
1 Year MCLR + 175 bps, ER: 10.15
4, 5 ,6
1 Year MCLR + 170 bps, ER: 10.10
1 Year MCLR + 185 bps, ER: 10.25

Overdraft above Rs.2 crore

1, 2 ,3
1 Year MCLR + 170 bps, ER: 10.10
1 Year MCLR + 185 bps, ER:10.25
4, 5 ,6
1 Year MCLR + 180 bps, ER: 10.20
1 Year MCLR +190 bps, ER:10.30

HOME TOP UP OVERDRAFT LOANS (other than Insta Home Top Up Loans) WITH EXTENSION OF MORTGAGE ON HOUSE PROPERTY ABOVE RS 2 CRORES : will be available to existing Home Loan customers only for switch over of their Home Loan accounts from Base Rate/SBAR/Higher interest rate linked to MCLR to the current Floating Interest card rate linked 1-year MCLR

Pricing of home loans have already been migrated on Risk Scoring Model. Similarly, Pricing of SBI Realty Loans will be migrated on Risk Scoring Model of Home Loan. Interest Rate structure for SBI Realty Loan will be as under:

(a) For First Five Years :

1. For Loan up to Rs 30 lacs-Floating (1-yr MCLR: 8.40%)

 

 

Salaried :

Non-Salaried :

Women

1-year MCLR+ 70 bps, ER: 9.10
1-year MCLR+ 80 bps, ER: 9.20

Others

1-year MCLR+ 75 bps, ER: 9.15
1-year MCLR+ 85 bps, ER: 9.25

2. For Loan Above Rs 30 lacs up to Rs 75 lacs-Floating (1-yr MCLR: 8.40%)

 

 

Salaried

Non-Salaried

Women

RG 1-3
1-year MCLR+ 80 bps, ER: 9.20
1-year MCLR+ 90 bps, ER: 9.30
RG 4-6
1-year MCLR+ 85 bps, ER: 9.25
1-year MCLR+ 95 bps, ER: 9.35

Others

RG 1-3
1-year MCLR+ 85 bps, ER: 9.25
1-year MCLR+95 bps, ER: 9.35
RG 4-6
1-year MCLR+ 90 bps, ER: 9.30
1-year MCLR+100 bps, ER:9.40


3. For Loan Above Rs 75 lacs-Floating (1-yr MCLR: 8.40%)

 

 

Salaried

Non-Salaried

Women

RG 1-3
1-year MCLR+ 90 bps, ER: 9.30
1-year MCLR+100 bps, ER: 9.40
RG 4-6
1-year MCLR+ 95 bps, ER: 9.35
1-year MCLR+105 bps, ER: 9.45

Others

RG 1-3
1-year MCLR+ 95 bps, ER: 9.35
1-year MCLR+105 bps, ER: 9.45
RG 4-6
1-year MCLR+100 bps, ER: 9.40
1-year MCLR+110 bps, ER: 9.50

Risk Scoring Model of Home Loan will be used for sanction of SBI Realty loans as well.

b) Interest rate beyond 5 years:

In case the construction of house is not completed, and a completion certificate is not submitted by borrowers within the stipulated period of 5 years from the date of first disbursement, interest rate structure for new loans sanctioned w.e.f 19th October 2018 (Cir No. NBG/RE, H&HD-HL/33/2018-19 dated 19th October 2018) will be as under:
1. For Salaried Borrower and Loans up to Rs 30.00 Lacs: 385 bps above one-year MCLR, ER : 12.25% p.a.
2. For Non-Salaried Borrower and Loans up to Rs 30.00 Lacs: 395 above one-year MCLR, ER : 12.35% p.a.
3. For loans more than Rs 30.00 lacs and customers falls under category of RG 1,2,3: 385 above one-year MCLR, ER : 12.25% p.a.
4. For loans more than Rs 30.00 lacs and customers falls under category of RG 3,4,5: 395 above one-year MCLR, ER : 12.35% p.a.

Product Revised Interest Rate

CRE Home Loan

A premium of 50 bps over and above the interest rate applicable to Home Loan (TL/Maxgain) will be charged.

Earnest Money Deposit Scheme

3.40% above 1 Year MCLR, Effective Rate 11.80 % (1-Year MCLR=8.40%).

Tribal Plus Scheme

10 bps above home loan floating card interest rates are applicable

CRGFT Scheme

10 bps above home loan floating card interest rates are applicable

Reverse Mortgage Loan

For Public

1-year MCLR+2.00%, effective rate 10.40% p.a.

SBI Pensioners

1-year MCLR+1.00%, effective rate 9.40% p.a.

Personal Loan Against Property (P-LAP)
i) Salaried (where more than 50% of NMI is coming from salary income) and Non-Salaried (where more than 50% of NMI is coming from Business/ Profession or rental income income), If the residential property is self-Occupied

Upto Rs. 1crs

1-year MCLR+1.75%, effective rate 10.15% p.a.

Above Rs. 1 cr & upto Rs. 2 crs.

1-year MCLR+2.25%, effective rate 10.65% p.a.

Personal Loan Against Property (P-LAP)
ii) Salaried (where more than 50% of NMI is coming from salary income), If the residential property is not self-Occupied/ commercial property

Upto Rs. 1crs

1-year MCLR+1.85%, effective rate 10.25% p.a

Above Rs. 1 cr & upto Rs. 2 crs.

1-year MCLR+2.35%, effective rate 10.75% p.a.

Personal Loan Against Property (P-LAP)
iii) Non-Salaried Salaried (where more than 50% of NMI is coming from Business/ Profession or rental income income), If the residential property is not self-Occupied/ commercial property

Upto Rs. 2crs

1-year MCLR+ 2.40%, effective rate 10.80% p.a.

Personal Loan Against Property (P-LAP)
iv) Salaried and Non-Salaried Salaried (where more than 50% of NMI is coming from Business/ Profession or rental income income), If the residential property is not self-Occupied/ commercial property

Above Rs 2 crs and Up to Rs 7.5 crs

1-year MCLR+ 2.60%, effective rate 11.00% p.a.

SBI Bridge Home Loan

For First year : 2.45% above 1-year MCLR, current effective rate 10.85% p.a.

During second year : 3.45% above 1-year MCLR, current effective rate 11.85% p.a.

The interest rate in the account will be automatically reset at the end of first year from the date of first disbursement on the basis of prevailing one-year MCLR as on the date of reset.

SBI Privilage and Shaurya Schemes

(a) Where check-off facility is provided by the Government Department / Defense Establishment under tie-up with our Bank –

1) For Loan up to Rs 30 lacs:
Interest rate applicable to women will be applicable to men/others also after taking into consideration the rate applicable based on the LTV Ratio

2) For Loan Above Rs 30 lacs:
Interest rate applicable to women will be applicable to men/others also after taking into consideration the rate applicable based on the Risk Grade and limit.

(b) Where check-off facility is not available –
Interest rates as applicable to others category will be applicable after taking into consideration the LTV Ratio, Risk Grade, gender and limit.


INTRODUCTION OF NEW PRODCT: HOME LOAN LINKED TO REPO LINKED LENDING RATE (RLLR)

The details of the new product are as under:

Sl. Parameters Features

i

Facility

Term Loan

ii.

Purpose

As per regular Home Loan Scheme.
However, Takeover of Home Loans from other Banks/HFCs/FIs under the new scheme is not permitted till further instruction. The scheme is also not available for extending Home loans for purchase of plot of land

iii

Minimum Income

Minimum Gross Annual Income should be Rs 6.00 Lacs

iv.

Loan amount

Maximum: No Cap

v

Eligible loan amount

The maximum permissible Home Loan amount will be assessed on the basis of the lowest value arrived at from the undernoted eligibility criteria:
· Maximum permissible LTV Ratio (as per regular home loan)
· Quantum of loan would be decided based on cash flows (net annual income) and DSCR, subject to Minimum DSCR of 1.25 (inclusive of EMIs of the proposed Home Loan), and
· Loan amount applied for.

vi

Loan Tenor and Moratorium period

Maximum 33 years.
However, for under construction projects, maximum moratorium period up to 24 months can be offered over and above maximum loan tenor of 33 years. In such cases, maximum loan tenor must not exceed 35 years. Interest applied during the selected moratorium period should be recovered from borrowers monthly.
For ready to move in property /ready built flat/unit, the repayment should start from one month from the date of disbursement of the loan.

vii

Interest rate

Loan amount

RG 1,2,3

RG 4,5,6

Up to Rs 75 lacs *
*A premium of 20 bps will be charged on the above applicable card interest rate if LTV > 80% for loan up to Rs 75 Lacs.

RLLR+40 bps

RLLR+55 bps

Above Rs 75 Lacs

RLLR+95 bps

RLLR+110 bps

RLLR as on 01.07.2019: 8.00%
· The interest rate on linkage to Repo Rate will change upwards or downwards as the case may be, in line with movement of the Repo linked Lending Rate (RLLR) as per Bank’s policy. (In case of change in Policy Repo rate, RLLR will be changed from 1st day of the following month).
· The spread fixed at the time of first disbursement in home loan will remain fixed for the entire tenor of the home loan.

viii

Repayment

Minimum 3% of the principal loan amount should be repaid every year equated in monthly instalments subject to liquidation of loan before borrower attains 70 years. Interest charged on the loan account to be serviced monthly.