State Bank of India has launched its online platform for homebuyers – SBI Realty. It is an innovative product under SBI Home Loans that helps customers find their dream home in reliable projects across 30 cities including metros and Tier-II towns.
Currently, the website showcases 9.5 Lakh residential units in 3000 SBI-approved projects. Customers can find the right home by comparing current and previous price trends in various localities. One can also calculate the appropriate home loan amount that he will need to buy a particular house, based on his income and credit profile.
Speaking about this new platform, Rajnish Kumar, Managing Director, NBG, SBI said that along with innovation, SBI has focused on market research, quality construction and architectural aesthetics to deliver quality residences that have strong goodwill and credibility in the market. Availability of modern residential spaces along with the trusted financial expertise of SBI will go a long way in helping customers find their dream home.
SBI Realty Home Loans
SBI Realty provides home loans for the purpose to purchase a plot for construction of a dwelling unit. It is a part of SBI Plot Loans. The construction should take place within 5 years from date the loan has been sanctioned. The customer can also avail another Home Loan for construction of house on plot financed under SBI Realty. Customer’s can avail a loan upto Rs. 15 crores with a repayment tenure of 10 years.
SBI Realty Home Loan Eligibility
|Eligibility Criteria||SBI Realty Home Loan|
|Resident Type||Resident Indian|
|Minimum Age||18 years|
|Maximum Age||65 years|
|Loan Tenure||Upto 10 years|
|Loan Amount||Upto 15 Crore|
SBI Realty Interest Rates
|Interest Rate for SBI Realty Loan (Floating)|
|Upto Rs. 30 Lacs||9.15%||9.20%||9.25%||9.30%|
|Above Rs. 30 Lacs-Upto Rs.75 Lacs||9.25%||9.30%||9.35%||9.40%|
|Above Rs 75 lacs||9.35%||9.40%||9.45%||9.50%|
Documents Required for SBI Realty Home Loans
List of papers/ documents applicable to all applicants:
- Employer/Income Proof
- Completed loan application
- 3 Passport size photographs
- Identify Proof (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
- Residence Proof (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
- Proof of business address for non-salaried individuals
- Statement of Bank Account/ Pass Book for last six months
- Signature identification from present bankers
- Personal Assets and Liabilities statement
For guarantor (wherever applicable):
- Personal Assets and Liabilities Statement
- 2 passport size photographs
- Proof of identification
- Proof of residence
- Proof of business address
- Signature identification from his/her present bankers
Additional documents required for salaried persons:
- Original Salary Certificate from employer
- 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 IT assesses:
- Acknowledged copies of three years I.T. returns/ Assessment Orders.
- Photocopies of challans evidencing payment of Advance Income Tax