HOME LOAN PRODUCTS


SBI FLEXIPAY HOME LOAN

Higher Home Loan eligibility with flexible repayment option.

  • Upto 1.2 times higher loan eligibility compared to loan eligibility under normal Home Loan schemes available to working professionals / executives.Loan amount, however, must be Rs.20 Lacs or higher.

  • Salaried applicants with minimum 2 year experience and aged between 21- 45 years will be eligible to avail of SBI FlexiPay Home Loan.

  • To neutralize the impact of such additional loan on monthly EMIs, customers have the option of paying only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the subsequent years.

  • Option of selecting moratorium of upto 36 - 60 months. Only interest to be repaid during the selected moratorium period.

  • Longer repayment of 25 to 30 years is available under the scheme. However, customers will be free to make prepayments towards their Home Loan loan without any pre-payment penalty.

(Other terms and conditions are as applicable to regular Home Loan Scheme)


SBI MAXGAIN

HOME LOAN AS AN OVERDRAFT

  • An innovative and customer-friendly product enabling the customers to earn optimal yield on their savings by reducing interest burden on Home Loans, with no extra cost.

  • The loan is sanctioned as an Overdraft with added flexibility to operate the Home Loan Account like SB or Current Account. Bank also provides Cheque Book/Net Banking facility for the purpose.

  • The product enables customers to park their surplus funds/savings in  SBI Maxgain (with an option to withdraw whenever required), especially in the wake of low yields on other Deposit/Investment products.

Loan Amount

Minimum Loan Amount : Rs.20 lacs

Maximum Loan Amount : No Cap

(Other terms and conditions are as applicable to regular Home Loan Scheme)


NRI HOME LOANS:

HOME LOANS TO NON RESIDENT INDIANS (NRIs) & PERSONS OF INDIAN ORIGIN (PIOs)
Eligibility
  • Non Resident Indians (NRIs) or Persons of Indian Origin(PIOs)

  • The applicants should have a regular source of income.

  • Minimum employment tenure in India/Abroad should not be less than 2 years.

Loan Amount

Minimum Loan Amount: Rs. 3 lacs

Maximum Loan Amount: No upper cap.

(Other terms and conditions are as applicable to regular Home Loan Scheme)


SBI REALTY

HOME LOANS FOR PURCHASE OF PLOT FOR CONSTRUCTION OF A DWELLING UNIT

SBI Realty provides an opportunity to the customer to purchase a plot for construction of house.

  • The construction of house should commence within 5 years from the date of availment of SBI Realty Loan.

  • Customers are also eligible to avail another Home Loan for construction of house on the plot financed under the SBI Realty scheme. The outstanding in SBI Reality account will be first liquidated through disbursement from Home Loan and the remaining amount will be disbursed for construction of House in phases linked to the stages of construction

Loan Amount : Maximum Loan Amount: Rs.10 crores

Repayment Period : Upto 15 years

(Other terms and conditions are as applicable to regular Home Loan Scheme)


SBI PAL

PRE-APPROVED HOME LOAN
  • The SBI PAL provides sanction of Home Loan limits to the customers before finalization of the property which enables them to negotiate with the Builder/Seller confidently.

  • The loan eligibility will be assessed on the basis of income details of the applicant.

  • Non-refundable processing fee as applicable to the Home Loan will be collected at the time of sanction.

Validity Period
  • Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4 months. Property papers will be required to be submitted by the borrower within the validity of PLAL. Processing fee will not be levied again.

Loan Amount
  • Pre-approved loan arrangement letter (PLAL) will carry the eligible loan amount calculated on the basis of prevailing interest rates

  • Minimum Loan amount: Rs.10 Lacs.

(Other terms and conditions are as applicable to regular Home Loan Scheme)


SBI TRIBAL PLUS

SPECIAL HOME LOAN SCHEME FOR HILLY/TRIBAL AREAS

' SBI Tribal Plus' is a Special Home Loan Scheme designed for Hill/Tribal areas (where mortgage of the property is not possible) for extending financial assistance to individuals.

  • Loan is sanctioned for Purchase or construction of a new house / flat (without mortgage of land).

  • Purchase of an existing (old) house / flat which is not more than 10 years old.

  • Repair /Renovation/extension of an existing house or flat.

Loan Amount

Minimum Loan Amount: Nil

Maximum Loan Amount: Rs. 10 lacs

Repayment Period

Maximum repayment tenure: 15 years



SBI PRIVILEGE HOME LOAN

Eligible applicants - Employees of Central / State Governments including PSBs, PSUs of Central Government, and other individual(s) with pensionable service.

  • Reduced burden of servicing EMIs under the new schemes as lower EMIs would need to be serviced during the post-retirement term. This is because the EMIs to be serviced during the post-retirement term are capped at 50% of the current Net Monthly Income.

  • Extended repayment upto the age of 75 years as against 70 years under normal Home Loan scheme. The maximum loan term, however, shall remain capped at 30 years.

  • Full waiver of Processing Fee.Out-of-pocket expenditure such as Advocate’s Fee for Legal Opinion, Valuers Fee for Valuation Report, CERSAI and CIBIL charges will continue to remain applicable.

  • Benefit of lower interest rate as a concession of 5 bps over the Home Loan Card Interest Rate is available wherever check-off facility is extended by the Government under tie-up arrangement with the Bank.

  • Option for customers of other Banks / FIs to switchover their Home Loan outstanding balance to State Bank of India.

(Other terms and conditions are as applicable to regular Home Loan Scheme)


SBI SHAURYA HOME LOAN

Eligible applicants - Defense Personnel belonging to Army, Navy and Air force.

  • Reduced burden of servicing EMIs under the new schemes as lower EMIs would need to be serviced during the post-retirement term. This is because the EMIs to be serviced during the post-retirement term are capped at 50% of the current Net Monthly Income.

  • Extended repayment upto the age of 75 years as against 70 years under normal Home Loan scheme. The maximum loan term, however, shall remain capped at 30 years.

  • Full waiver of Processing Fee. Out-of-pocket expenditure such as Advocate’s Fee for Legal Opinion, Valuers Fee for Valuation Report, CERSAI and CIBIL charges will continue to remain applicable.

  • Benefit of lower interest rate as a concession of 5 bps over the Home Loan Card Interest Rate is available wherever check-off facility is extended by the Government under tie-up arrangement with the Bank.

  • Option for customers of other Banks / FIs to switchover their Home Loan outstanding balance to State Bank of India.

(Other terms and conditions are as applicable to regular Home Loan Scheme)



SBI BRIDGE LOAN

NEW PRODUCT : SBI BRIDGE HOME LOAN

SBI Bridge Loan is a Short Term Loan to meet shortfall in funds for purchase of a new home/flat by mortgaging existing unencumbered property.

The applicant for Home Bridge Loan should satisfy each of the below mentioned eligibility criterion :

  • a) Individuals who own an unencumbered fully constructed house/flat and intend to sell the existing home/flat for meeting temporary shortfall in cost for acquiring new home/flat.

  • b) In case of joint ownership of the existing property, all co-owners of the property should also join as co-borrowers for the Bridge Loan.

Loan will be given by way of Term Loan (No Overdraft facility.)

LTV & Permissible Loan Amt.

  • i) 65%, if Market Value of the existing property is upto Rs.1 Crore.

  • ii) 60%, if Market Value of the existing property is above Rs.1 Crore.

  • iii) 90% of the cost of the proposed home/flat.

Loan Tenor : Maximum 2 years. Interest applied on Bridge Loan during the currency of the loan should be serviced.

Repayment :The Bridge Loan needs to be repaid in full by the borrower any time within the loan tenure of 2 years, in one or more number of instalments. No EMIs will be stipulated.




HOME LOANS TO NON-SALARIED SEGMENT DIFFERENTIAL OFFERINGS

Home Loans for the purpose of construction/acquisition of residential house/flat, purchase of residential plot, & takeovers to non-salaried class with relaxation in EMI/NMI rate. Eligibility : Professionals/Self-Employed/Businessmen who are over 18 years of age. In case of Firm it should be profit making unit in last 2 years with 3 years existence.

Loan Amount : Minimum: Rs.50000/-, Maximum : Rs.50 Crores.

Relaxation in EMI/NMI ratio :


Additional EMI/NMI Ratio

Upto 5%

> 5% and upto 10%

> 10% and upto 15%

Eligibility Criteria

LTV ratio upto 65%

LTV ration upto 60%

LTV ratio upto 50%

OR
Liquid Collateral of 7.50% of loan amt.

OR
Liquid Collateral of 15% of loan amt.

OR
Liquid Collateral of 25% of loan amt.

“Liquid Collateral in the form of Term Deposits with our Bank or NSCs/KVPs in own name/in the name of parents/spouse/children/siblings.

Repayment : Maximum of 30 years . Interest applied during the moratorium period should be serviced.