The State Bank of India (SBI) recently announced the first of its kind, home loans tied to the credit score at just 6.70%, regardless of the loan amount. The SBI launched this loan, keeping in mind the upcoming holiday season in the country. Prior to that, getting a home loan over Rs 75 lakh had an interest rate of 7.15%. The offer results in a saving of 45 basis points, which translates into a huge interest savings of over Rs 8 lakh, for a loan of Rs 75 lakh with a term of 30 years.
The bank offers personalized home loans according to the needs of individuals with home loans such as regular home loan, SBI Privilege home loan for government employees, SBI Shaurya home loan for military and defense personnel. , the SBI MaxGain home loan, the SBI Smart Home, Top-up Loan for existing clients, SBI NRI Home Loan, SBI FlexiPay Home Loan for larger loans and SBI HerGhar Home Loan for women.
Home loans offered by public lender State Bank Of India are low interest rate and are processed free of charge. In processing the loan, there are no hidden or administrative costs involved. On top of everything, if a woman avails herself of the home loan, she will get interest reduction for female borrowers, home loans tied to credit score. These mortgage loans offered by the SBI do not involve any early repayment penalty. These home loans are also available in the form of overdraft. The mortgage loan offered by the SBI is available over 3 years to 30 years. This mortgage linked to home loans at only 6.70 percent, regardless of the loan amount.
How to register?
One can apply for these home loans through an online link. Customers can click on the link below to apply for the home loan, fill out the required information, verify eligibility and get the loan quote: https://onlineapply.sbi.co.in/personal-banking/home- loan? se = SBI-Microsite & cp = Homeloan & Ag = SBI-Microsite.
One can benefit from a home loan using the Yono SBI application. First of all, you need to log into your YONO SBI app. On the home page, click the menu at the top far left, click Loans, click Home Loan. After that, do a quick eligibility check by providing your date of birth, enter your income source, enter your net monthly income, any other loan details, fill out other required information and click submit. You will get a reference number and an SBI executive will call you shortly
What documents are required?
To obtain the mortgage, you must have the employer’s identity card, Loan application: Loan application form duly completed, affixed with 3 passport-size photographs. Any proof of identity such as PAN, passport, driver’s license, voter ID card. In addition to all these documents, proof of residence and address, recent copy of phone bill / electricity bill / water bill / piped gas bill or copy of passport / driver’s license / Aadhar card . Construction Authorization (if applicable. Along with this, payment receipts or A / C bank statements showing all payments made to the builder / seller, within the last 6 months Bank account statements for all bank accounts held by the / Applicant (s) In case of previous loan from other banks / lenders then A / C credit statement for the last year.
To qualify for the mortgage, proof of income for salaried candidates is required. To justify, the payslip or the salary certificate for the last 3 months is required. In addition, form 16 for the last 2 years or a copy of the IT declarations for the last 2 financial years, recognized by the IT department. In the case of self-employed candidates, proof of professional address and computerized declarations for the last three years are required. In addition to this, the balance sheet and A / c Profit and Loss for the past 3 years, a TDS certificate (Form 16A, if applicable) is required.
Read all the latest news, breaking news and coronavirus news here