The Most Preferred Home Loan provider SBI Bank offers a Home Loan with Attractive Interest

Rates with Latest Schemes and Benefits. SBI also provides a Housing loan with different
schemes. Schemes Are:-
1. SBI Easy Home Loan
2. SBI Advantage Home Loan
3. SBI Housing Finance Scheme
4. SBI Happy Home Loans
5. SBI Life Style Loan
6. SBI Green Home Loan
7. SBI Home Plus
8. SBI Home Line
9. SBI MY HOME CAMPAIGN
Features & Benefits of SBI Home Loan
- Purchase/ Construction of House/ Flat
- Purchase of a plot of land for construction of House
- Lowest Home Loan Interest Rate..
- Extension/ repair/ renovation/ alteration of an existing House/ Flat
- Purchase of Furnishings and Consumer Durables as a part of the project cost.
- Takeover of an existing loan from other Banks/ Housing Finance Companies.
- Interest charged on the daily reducing balance
- No penalty on prepayments of home loan
- No hidden costs
- Option to club income of your spouse and children to compute eligible loan amount
- Provision to club depreciation, expected rent accruals from property proposed to compute
eligible loan amount
- Provision to finance cost of furnishing and consumer durables as part of project cost
Eligibility Criteria & Documentation required for SBI Home Loan
Salaried Self employed
Age 21years to 60years 21years to 70years
Income Rs.1,20,000 (p.a.) Rs.2,00,000 (p.a.)
Loan Amount
Offered
5,00,000 - 1,00,00000 5,00,000 - 2,00,00000
Tenure 5years-20years 5years-20years
Current
Experience
2years 3years
Documentation
1) Application form with
photograph
2) Identity & residence proof
3) Last 3 months salary slip
4) Form 16
5) Last 6 months bank salaried
credit statements
6) Processing fee cheque
1) Application form with photograph
2) Identity & residence proof
3) Education qualifications certificate &
proof of business existence
4) Business profile,
5) Last 3 years profit/loss & balance sheet
6) Last 6 months bank statements
7) Processing fee cheque
Other Products from SBI (State bank of India)
1. SBI Home Loan

2. SBI Personal Loan
3. SBI Housing Loan
4. SBI Card
"%HE MOS% PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards
along with the MOS% PREFERRED BANK AWARD in a survey conducted by %V 18 in
association with AC Nielsen-ORG Marg in 21 cities across India.
SBI HOME LOANS now offers Interest Rates concessions on GREEN HOMES in accordance
with SBI's commitment to Environment protection.
SBI Home Loans come to you on the solid foundation of trust and transparency built in the
tradition of State Bank of India.
Best Practices followed in SBI mentioned below will tell you why it makes sense to do
business with State Bank of India.

SBI Home Loans Unique Advantage
Package of exclusive benefits.
Low interest rates. Further, we charge interest on a daily reducing balance!!
Low processing charges.
No hidden costs or administrative charges.
No prepayment penalties. Reduce your interest burden and optimally utilize your surplus
funds by prepaying the loan.
Over 13,700 branches nationwide, you can get your Home Loan account parked at a
branch nearest to your present or proposed residence.
REPAYMENT
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Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which
the loan should be fully repaid) of the borrower, whichever is early.

Moratorium period (Repayment holiday): The moratorium period is included within the
maximum repayment period.
FEES
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Home Loans - Processing Fee - It is payable at the time of documentation only.
Loan Amount Processing Fee
Upto Rs. 25 Lacs
0.25% of loan amount
Above Rs. 25 Lacs and upto Rs. 75
Lacs
Rs. 10,000/-
Above Rs. 75 Lacs Rs. 20,000/-

NO%E

1) Actual charges for the following will be payable by the customer in addition to the
processing fee:

a) Pre-sanction

(i) Advocate's fee for property search and the title investigation report.
(ii) Valuer's fee for valuation report.

b) Post-sanction

(i) Stamp duty payable for Loan agreement & mortgage.
(ii) Property insurance premium.
(iii) Processing fee recovered.

Pre-closure / Pre-payment Penalty - NIL

INTEREST RATES
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Interest will be charged at the rates prescribed by the Bank from time to time
All Rate are floating only

(Base Rate= 10.00% p.a.)

Loan
Amount
Linkage with Base
Rate over the tenor
of the loan
Effective
Rate
Upto Rs.
30.00 lacs
0.75% above Base
Rate
10.75%
p.a.*
Above Rs.
30.00 lacs
and upto Rs.
75.00 lacs
1.00% above Base
Rate
11.00%
p.a.*
Above Rs.
75.00 lacs
1.25% above Base
Rate
11.25%
p.a.*
No fixed rate option in any limit bracket.
* A concession of 0.25% in card interest rate over the tenor of Home Loan is available
under ongoing special Home Loan campaign upto 31.12.2011.

FEATURES
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Eligibility:
Minimum age: 18 years as on the date of sanction
Maximum age: 70 years. i.e. the age by which the loan should be fully repaid, subject to
availability of sufficient, regular and continuous source of income for servicing the loan
repayment.
Loan Amount:
Actual loan amount will be determined taking into consideration such factors as applicants
income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat
etc. To enhance loan eligibility you have option to add:
1) Income of your spouse/ your son/ daughter
living with you, provided they have a steady
income and his/ her salary account is
maintained with SBI.
2) Expected rent accruals (less taxes, cess,
etc.) if the house/ flat being purchased is
proposed to be rented out.
3) Depreciation, subject to some conditions.
4) Regular income from all sources.

Security:
O Equitable mortgage of the property

Margin/ L%V Ratio:
Loan Amount Margin (Min.) Maximum L%V
Ratio (Max.)
Upto Rs. 20 Lacs 10% 90%
Above Rs. 20 Lacs. 20% 80%

UMENTS
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List of papers/ documents applicable to all applicants:
O Completed loan application
O 3 Passport size photographs
O Proof of identify (photo copies of Voters ID card/ Passport/ Driving
licence/ IT PAN card)
O Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/
Property tax receipt/ Passport/ Voters ID card)
O Proof of business address for non-salaried individuals
O Statement of Bank Account/ Pass Book for last six months
O Signature identification from present bankers
O Personal Assets and Liabilities statement

For guarantor (wherever applicable):
O Personal Assets and Liabilities Statement
O 2 passport size photographs
O Proof of identification as above
O Proof of residence as above
O Proof of business address as above
O Signature identification from his/her present bankers

Additional documents required for salaried persons :
O Original Salary Certificate from employer
O TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly
acknowledged by IT Deptt.

Additional documents required for Professionals/self- employed/ other I%
assesses:
O Acknowledged copies of three years I.T. returns/ Assessment Orders.
O Photocopies of challans evidencing payment of Advance Income Tax.

UMENTS
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List of papers/ documents applicable to all applicants:
O Completed loan application
O 3 Passport size photographs
O Proof of identify (photo copies of Voters ID card/ Passport/ Driving
licence/ IT PAN card)
O Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/
Property tax receipt/ Passport/ Voters ID card)
O Proof of business address for non-salaried individuals
O Statement of Bank Account/ Pass Book for last six months
O Signature identification from present bankers
O Personal Assets and Liabilities statement

For guarantor (wherever applicable):
O Personal Assets and Liabilities Statement
O 2 passport size photographs
O Proof of identification as above
O Proof of residence as above
O Proof of business address as above
O Signature identification from his/her present bankers

Additional documents required for salaried persons :
O Original Salary Certificate from employer
O TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly
acknowledged by IT Deptt.

Additional documents required for Professionals/self- employed/ other I%
assesses:
O Acknowledged copies of three years I.T. returns/ Assessment Orders.
O Photocopies of challans evidencing payment of Advance Income Tax.
NEW PRUTS
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i) SBI Surakshit Home Loan

Home Loans with Life Cover.

Other features like tenure, Loan To Value(LTV), eligibility are as per the standard schemes.
Life Insurance Premium can be added to the Project Cost.


ii) SBI Yuva Home Loan

Eligible: Salaried employees of Companies from the private sector, MNCs, Government undertakings,
PSUs, Government employees.

Age: Between 21 years to 35 years

Minimum Net Monthly Income: Rs.50,000

Loan Term : Maximum 300 months.

Permissible loan amount : 20% higher

Repayment : First 36 months - Only the interest applied during the month will be recovered.
37th month onwards - 204 EMIs
Loan to Value(LTV): Minimum 20%
Type of Loan : Term Loan Only
Features, other than those mentioned above will be the same as those applicable to SBI
Home Loan scheme.
iii) SBI Home Loan PAL ( Pre-Approved Limit )
Benefits of this product:
(1) Under this, your Eligible Loan Amount is assessed before finalization of property deal and a
Pre-Approved Loan Arrangement Letter (PLAL) is issued to you.
(2) Customer can confidently negotiate with the builder/seller after getting a sanction.
The Modalities are as under:
1. All the documents prescribed for Home Loan, except property documents will be collected from
the applicant along with the application form.
2. The loan eligibility will be assessed on the basis of income details of the applicant and PLAL
issued.
3. Non-refundable processing fee as applicable to the Home Loan will be collected upfront.
4. PLAL will be valid for a period of 2 months. Property papers will be required to be submitted by
the borrower within the validity of PLAL. Processing fee will not be levied again.
5. Pre-approved loan arrangement letter (PLAL) will carry the eligible loan amount calculated on
the basis of prevailing interest rates. Loan amount calculated on the basis of prevailing
interest rates will be valid for a period of 1 month (If the interest rate is revised downwards
within a period of 1 month, then the borrower will be given the benefit of such downward
revision.). Thereafter the interest rates applicable on the date of sanction of Home Loan will
be applicable.
6. Minimum Loan amount: Rs.10 Lacs.
7. Other features like tenure, Loan To Value (LTV), eligibility are as per the standard schemes.

SHRT TERM HUSING LAN
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Home is where the heart is! At SBI, we know this better than most - the toil and sweat that
goes into building/buying a house and the subsequent pride and joy of owning one.
This is why our Housing loan schemes are designed to make it simple for you to make a
choice at least as far as financing goes!
No hidden clauses or costs or unnecessary documentation. Our loans have the longest
tenors and our repayment terms are amongst the most flexible. We offer you a totally
transparent process and yes, there is no fine print! We even give you an in-principle
approval prior to identifying a house/flat, relieving you of the tension of anticipating the
approved amount!
Last, but not the least, we have specialized Housing loan branches to serve your needs
better. . Click here for the one nearest to you.
Our newly opened Personal Banking branches also specialise in this. Click here for a list of
our PBBs
Our special Short Term Housing Loan Scheme for loans of repayment period upto 5 years
carries still lower rates of interest.

%he Scheme

You can avail of a housing loan for:
O Purchase or construction of a new house/ flat.
O Purchase an existing (old) house/ flat.
O Extension, repair, renovation or alteration of a house/ flat.
O Purchase a plot of land meant for construction of a dwelling unit.

Enjoy the SBI Advantage

Why should you opt for a housing loan from State Bank of India?
O Excellent service and lower costs.
A quick survey of similar schemes available elsewhere and you will find that SBI
housing loans offer you the..
O Lowest Equated Monthly Instalments (EMI)
Lowest interest rates, currently between 7.50% pa and 8.50% p.a. on daily reducing
balances
A nominal processing fee of 0.25% will be charged. Compare this with the 1.5% -
2% charged by others.
O No hidden costs or administrative costs
O In-principle approval given prior to your identifying a house /flat, giving you
flexibility in choice.
O Complete transparency - When we say our rate of interest is 8% p.a. you pay only
8%. When others say 8.5%, you may be paying even 10% p.a., as interest may be
levied even on the amounts you have already repaid. This is because we apply
interest on a daily reducing balance while housing finance companies/ other banks
mostly apply interest on annual reducing balance.
Always compare the Equated Monthly Instalments (EMI) and the total repayments you
would be required to make rather than rates of interest.

Salient Features


Purpose

You can take a loan for:
O Purchase or construction of a new house/ flat.
O Purchase an existing (old) house/ flat.
O Extension, repair, renovation or elteration of a house/ flat.
O Purchase a plot of land meant for construction of a dwelling unit.
O Repayment of housing loan availed from other banks/financial institutions to avail
of the benefit of our low rates of interest.

Eligibility

You can avail of an SBI Housing loan if you are over 21 years of age and have steady source
of income.

Documents Required

What are the documents that I need to provide?

You will need to furnish the following documents along with the completed application form:
O Passport size photograph
O Proof of residence
(This applies only to new or non-bank customers, and could be either a PAN identity
card, voter identification card or passport)
O Sale Deed/ Agreement of Sale
O Bank account Statement or passbook, for the last six months
O For employees or people in service, you also need to provide:
O Salary certificate and other information, if any, about your repayment capacity
O Form 16 or a copy of the Income Tax Returns for the last 2 years
O For self employed and other IT assessees:
O IT returns for the last 3 years Receipts of advance tax paid
O Any other information about your repayment capacity
In addition to the above mandatory documents, you are also required to furnish one or
more of the following documents wherever applicable:
O Letter of allotment from the housing board or society
O Copy of the approved plan
O Permission for construction
O Copy of the relative order in the case of conversion of agricultural land. (not required
where the house/flat has been constructed by an approved builder)
O In the case of an old existing house, you will need to get a valuation certificate from
approved valuers as well as a certificate from a government approved architect
/structural engineer regarding the condition of the flat/house as well as its remaining
life. This will give you the comfort of knowing that the property you are purchasing is
of sound construction.

Loan Amount
While there is no ceiling to the amount of loan we sanction the actual loan amount is
determined on the basis of repayment capacity taking into account your income, age, assets
and liabilities. As a rule of thumb - Upto 60 times the net monthly income will be sanctioned
depending upon your age. Usually, your spouse's income and the expected rental would also
be taken into account.

Margin
Your contribution (margin) for the housing loan is as under: 15% for new house/ flat 20%
for old house/ flat 20% for repairs and renovation.

Interest
Avail of the lowest interest rates in the market. We give you the option of locking in the low
interest rates for the full tenure of the loan or keeping your interest option open by linking it
to the Bank's Term Lending rate. Therefore, you could either avail the loan at a fixed rate of
interest, which stays constant throughout the loan period, or at a floating rate of interest
where the interest changes (increases or decreases) depending on changes in the Bank's
Term Lending Rate.
Click here to view the interest rates.

Repayment
In 60 Equated Monthly Instalments.Our repayment terms are amongst the most flexible in
the market. Depending on your age and capacity to repay, you could pay back the loan in
easy installments.You may prepay at will without attracting any penalty, or pay more than
your stipulated monthly installment at any time, depending upon availability of funds with
you. However, in case of takeover of loan by other banks/finance companies, prepayment
penalty of 2% may be levied.

Security

As per bank's extant instructions.



%ake Over of Loan
If you have already taken a housing loan from any other bank/financial institution and wish
to benefit from our low rates of interest, we can take over your existing loan.

In-principle Approval
We also give in-principle approvals based on your income and capacity to repay, to enable
you to identify a house/ flat with full confidence.
All loans are at the sole discretion of the Bank.
What security do I have to furnish?
A. SBI requires a mortgage of the property for which the loan is being taken. Where
mortgage can't be provided, other tangible security would need to be provided. The title of
the property should be clear, for which a certificate would be required from the Bank's
approved advocate, safeguarding your interests as well as Bank's interests.
Additional security may be required where the house is under construction. This may be for
an interim period, by way of tangible security or guarantees from sound and solvent
individuals.
". What are the processing fees charged by the bank?
A. A very nominal processing fee of 0.50% (Max. Rs.10,000/-) is charged by us. Compare
this with 1.5-2% charged by the others.
". What is EMI?
A. EMI stands for Equated Monthly Installments. This installment comprises both principal
and interest components. Use our EMI calculator to find out your monthly payments based
on the loan amount, the rate of interest and the repayment period. Choose the combination
that best meets your financial resources and requirements.
". Can I prepay the loan? Are there any penalties?
A. Yes, you can prepay the loan at any stage. However closure of loan before completion of
half of the loan tenure will attract a penalty of 2%. You can also credit more than your EMI
amount into your loan account and bring down your interest burden as and when funds are
available with you.
What are the tax benefits of taking an SBI Housing Loan?
A. Under the Indian Income Tax Act of 1961, resident Indians are eligible for certain tax
benefits on principal and interest components of a loan.
Under Section 24(1), interest repayment of Rs.1,50,000/- per annum qualifies for tax
saving under the new Finance Act, provided the property is acquired or constructed with
capital borrowed after April 1, 1999 and the acquisition/construction is completed before
April 1, 2003 , and the property is self occupied.
An added benefit under Section 80(c) on repayment of principal amount to the extent of
Rs.1,00,000/- is also available on the same loan subject to compliance with conditions
stipulated in the IT Act.
". How does SBI housing loan compare with those offered by other institutions?
A. There is total transparency with regard to the rate of interest and the fees charged by us.
O We offer housing loans with the lowest equated monthly installments, i.e. you pay
substantially less in repayments as compared to others.
O We have no upper limit. The loan amount is determined by repaying capacity and the
value of property to be financed.
O We offer loans for the longest tenors (up to 20 years) with the flexibility provided to
reduce the tenor by prepaying the loan without any penalty.
O We provide finance for both new and old houses/flats and for construction of houses.
Cost of furnishing the house can also be included in the project cost.
O With an SBI housing loan you can choose between fixed rates of interest and floating
interest rates.
O We levy interest based on daily reducing balance, unlike the annual reducing balance
method used by several other financiers/banks.