Now taking a home loan from a bank has become a very difficult task. Various types of verification documents have to be submitted. State Bank of India (SBI) has put the process to take original home on its website.
Every human being has an emotion called sontillu. At present, Urukulu is in a situation where he has to save money and build a house. Some of us are paying rent for the house we are currently staying in. So they prefer to take a home loan to buy their own house under the EMI. But now in the bank Home Loan Ingestion became a difficult task. Various types of verification documents have to be submitted. State Bank of India (SBI) has put the process to take original home on its website. The process of getting SBI home loan is very simple. Let’s take a look at the procedures as there is also an opportunity to get SBI home loan through online.
Benefits of SBI Home Loan
Compared to different banks, SBI home loan has some advantages for the users. With low interest rates and very low processing fees, users can avail loans very easily. Also SBI does not levy penalty on prepayment. SBI offers customers an option to repay up to 30 years at a time with no interest charges on the daily reducing balance. Home loan is also available as an overdraft. The bank provides interest concession especially to women borrowers. Also, those between 18 to 70 years of age are eligible to avail SBI home loan.
These are the required documents
- Owner’s Identity Card
- Duly completed loan application form
- 3 passport size photographs
- Identity proof like PAN/ Passport/ Driving License/ Voter Identity Card.
- Proof of Residence such as Telephone Bill/Electricity Bill/Water Bill/Pipeped Gas Bill or Passport/Driving License/Aadhaar Card.
- Construction permit.
- Certificate of Occupancy
- Maintenance Bill, Electricity Bill, Property Tax Receipt
- Copy of builder approved plan & registered development agreement, conveyance deed (for new property)
- Payment receipts or bank account statement
Statement of Account
- Applicants last 6 months bank account statements
- Loan account statement for last 1 year if any previous loan from other banks/lenders
- Last 3 months play slip or salary certificate
- Copy of Form 16, Form 26 AS for last 2 years or copy of IT returns for last 2 financial years
- Income proofs of non-salaried applicant
Business address proof
- IT returns for last 3 years
- Details of Balance Sheet & Profit & Loss Accounts for last 3 years
- Business license details
- TDS Certificate (Form 16A)
- Eligibility Certificate (for CA/ Doctor, Other Professionals)
But experts suggest that customers should note that the bank may ask for any other document if required during the home loan application process.
To apply for SBI home loan you need to visit any SBI branch. Or can apply online through bank website. You need to provide documents to apply for a loan. It should be noted that the loan amount depends on various factors like interest rate, repayment period, credit score, income, property value, loan amount etc.
More Business News for