SBI Pre-Approved Home Loan

SBI Pre-Approved Home Loan Highlights 2023
Interest rates	8.40% p.a. onwards
Loan amount	Based on customer profile
Repayment tenure	Up to 30 years
Processing fee	Up to 0.17% of the loan amount (Rs 2,000- Rs 10,000)

Note: Interest rates as on 30th November 2023

SBI Pre Approved Home Loan Interest Rates

State Bank of India (SBI) has not set any separate interest rates for Pre-Approved Home Loans. The interest rates applicable for various SBI home loan products would be applicable for SBI pre-approved home loans.

Campaign Rates (Term Loan)

CIBIL Score	Interest Rate (p.a.)
>=800	8.60%*
750-799	8.60%*
700-749	8.70%*
650-699	9.45%
550-649	9.65%
NTC/No CIBIL/-1	8.70%*
151-200**	8.70%
100-150**	9.45%

Note:

• *20 bps concession over the above proposed rates for Home Loan Balance Transfer, resale and ready to move-in properties (for CIBIL Score of 700 and above)
• **Score Bands of 101-150 & 151-200 are assigned by CIBIL for New to Credit borrowers.
• Premium of 10 bps for loans up to 30 lacs for LTV >80% & < =90%
• 5 bps concession available to women borrowers subject to minimum EBLR, i.e., 9.15
• 5 bps concession if maintaining salary account with SBI under salary package

Also Read: >How you can build or rebuild your credit score with > Step UP Credit Card co-branded with SBM Bank India Ltd.

SBI Pre-Approved Home Loan Processing Fees

SBI charges a nominal processing fee of up to 0.17% of the loan amount (Rs 2,000- Rs 10,000).

SBI Pre-Approved Home Loan Eligibility Criteria

• Resident Type: Resident Indian
• Minimum Age: 18 years
• Maximum Age: 70 years

Also know about Home Loan Balance Transfer

SBI Pre Approved Home Loan Documents Required

List of common documents applicable to all applicants:

• Employer Identity Card
• Completed loan application form duly filled in and affixed with 3 Passport size photographs
• Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
• Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Account Statement:

• Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
• If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income proof for salaried applicant/co-borrowers/guarantor:

• Salary Slip or Salary Certificate of last 3 months
• Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income proof for non-salaried co-applicant/ guarantor:

• Business address proof
• IT returns for last 3 years
• Balance Sheet & Profit & loss A/c for last 3 years
• Business License Details(or equivalent)
• TDS Certificate (Form 16A, if applicable)
• Certificate of qualification (for C.A./ Doctor and other professionals)