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HOME LOAN PRODUCTS
RELATED HOME LOAN PRODUCTS



HOME LOAN PRODUCTS

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.5 lacs
Maximum Loan Amount: No Cap

 

Interest Rate

·         A premium of 0.25% over and above the applicable Home Loan interest rate for Home Loan > Rs.1 crore is payable.

 

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

 

SBI YUVA HOME LOAN

 

TAILOR MADE HOME LOAN SCHEME FOR THE YOUTH

 

·         SBI YUVA Home Loan provides 20% higher loan amount than that of normal Home Loan eligibility to Salaried employees of Private Sector Companies/MNCs/Government Undertakings/PSUs & the Government employees.

 

Eligibility

·         Age between 21 years to 45 years.

·         Minimum Net Monthly Income of applicants should be Rs. 30,000/- (expected rental income from the proposed property should not be included in the monthly income of the borrower).  

Repayment

·        Under SBI Yuva Home Loan Scheme, only the interest applied on Home Loan is payable during the first 36 months. The regular EMIs start after completion of 36 months.

 

(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 2 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 with the benefit of running both the loans concurrently.

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

 

 

GRAM NIWAS

 

HOME LOANS IN RURAL AREAS

 

·         Scheme covers all Rural and Semi-urban centres having population upto 50,000 as per 2001 census.

·         Home Loans under “Gram Niwas Scheme” are sanctioned for purchase/ construction/repair and renovation of house and purchase of plot for construction of a house/shed etc.

Loan Amount

·         Minimum Loan Amount: Nil
Maximum Loan Amount: Rs. 5 lacs

 

Repayment Period

·         Maximum repayment period :15 years  

(Processing Charges are waived under the Gram Niwas Scheme)

SAHYOG NIWAS

 

HOME LOANS TO SELF HELP GROUPS IN RURAL AREAS


The Sahyog Niwas Scheme provides Home Loan to Self help groups, having good payment record of 2 years, for on lending to their members for:

v  Purchase or construction of a house exclusively or including the housing needs of activities carried by them (Dairy shed, tailoring shed/shop, grocery stores etc.)

v  Renovation or repair of an existing house / shed

v  Purchase of a plot for the construction of house

v  Extension of existing house / work space to existing house / shed.

Loan Amount

·         Home Loan amount under “Sahyog Niwas Scheme” is restricted to 10 times of the saving corpus of SHG subject to a maximum amount of Rs. 50,000/ per member.



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