SBI 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.20 lacs
Maximum Loan Amount: No Cap

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

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)

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)