SBI Home Loan checklist - July 2017

R P Mohan (SBI Marketing Consultant – Home Loans)

Mob: 9972332523 

Email : rpmohansbi@gmail.com

Financing will be done for BDA, BBMP, BMRDA, APA approved properties only

MCLR: Marginal Cost of Funds based Lending Rate 

Click here for the latest home loan interest rates

Funding :- Out of total project cost 80% loan will be funded. 

Example: Project cost – 30 Lakhs;

Allowed loan = 80% of the cost = 80% * 30 Lakhs = 24 Lakhs

Note: only 70% loan will be funded for site purchase (SBI Reality)

Note:- We also takeover existing housing loans of other banks/FI's.

FEES Processing Fee 0 % Processing Fee for Takeover of Home Loans proposals / Proposals for the period from 1st July, 2017 to 30th September 2017  The processing fee structure for proposals other than above is as under : 0.35% of the loan amount plus applicable service tax. Minimum: Rs. 2,000/- plus applicable service tax, and. Maximum: Rs. 10,000/- plus applicable service tax. NOTE 1) Actual charges for the following will be payable by the customer in addition to the processing fee: a) Pre-sanction Advocate's fee for property search and the title investigation report. (i.e. Legal charges Rs. 3000/-) Valuer's fee for valuation report (Rs.1500/-) b) Post-sanction Stamp duty payable for Loan agreement & mortgage. Applicable Property insurance premium Processing fee recovered CERSAI Registration Fee of Rs 50/- + service tax up to Rs 5 lakh limit and Rs 100+ service tax for limits above Rs 5lakhs

Features of our Housing loan:

• Daily reducing balance interest
• No hidden charges
• Free accident insurance
• Optional life insurance from SBI Life

More details on interest rates at https://www.sbi.co.in/portal/web/interest-rates/home-loans-interest-rates
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For Site Loan: 

• Only 70% loan will be funded for site purchase (SBI Reality) out of the project cost (upto 75 Lakhs). Above Rs.75 Lakhs only 60% of loan will be funded
• Minimum loan amount Rs. 10 Lakhs
• No Maxgain facility will be made available under SBI Reality
• Maximum repayment period is 120 months
• Maximum time period stipulated for construction of house is 5 years from the date of first disbursement of site loan

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List of Documents

1. Application form duly filled
2.SBI - Savings Bank Account (mandatory for SBI Maxgain account)
3. Salary Slip- last 3 months	Additional documents for Take Over Loans:
4. Copy of Form 16/IT returns- last 2 yrs	1) Pre Closure Letter from other Bank with HL o/s stating that the original documents will be handed over once the loan is closed and the mortgage is not extended to any other loan
5. Photograph – 1 each for applicant(s)/guarantor	2) Statement of HL account from beginning
6. Bank Statement for 6 months – salary account	3)Letter stating list of original documents held with the existing bank
7. Copy of employer's Identity Card, PAN card	4) Property Documents: Certified copy of Sale Deed, Katha copy, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS
8. Address Proof – HR letter	5) Home loan sanction letter from the other Bank
9. Marriage proof in case of joint applicants
10. Employment proof – HR letter proving the service in the company/CTC; copy of previous employment proof
11. Assets proof – Proof for assets possessed such as PF, PPF, Cash balance, FD, Shares, mutual funds, insurance, NSC, property, advance paid to builder/seller, vehicles etc
12. Guarantor-proof of ID, address, property, if working then 1 month salary slip, IT returns for 1 year (Guarantor required if project is under construction/purchase of plot/takeovers) Interim Guarantor is required for Take over loans
13. Property Documents  - Sale agreement, Construction agrmt, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS, Latest "A" katha certificate, Builders NOC, Cost Break up letter from builder.  For resale property Seller's KYC particulars required

Please note that EM creation charges ARE as applicable

Proof is required for the declared assets and liabilities (photocopy)

SBI Home Loan checklist - Dec 2016

R P Mohan (SBI Marketing Consultant – Home Loans)

Mob: 9972332523 

Email : rpmohansbi@gmail.com

Financing will be done for BDA, BBMP, BMRDA, APA approved properties only

MCLR: Marginal Cost of Funds based Lending Rate

Funding :- Out of total project cost 80% loan will be funded. 

Example: Project cost – 30 Lakhs;

Allowed loan = 80% of the cost = 80% * 30 Lakhs = 24 Lakhs

Note: only 70% loan will be funded for site purchase (SBI Reality)

Note:- We also takeover existing housing loans of other banks/FI's.

FEES Processing Fee 0 % Processing Fee for Takeover of Home Loans proposals / Proposals under Builder Tie-up / Proposals sourced under OCAS for the period from 1st Oct, 2016 to 31st December, 2016 (Festive offer) 0% processing fee for all Central / State Govt. Employee The processing fee structure for proposals other than above is as under : 0.35% of the loan amount plus applicable service tax. Minimum: Rs. 2,000/- plus applicable service tax, and. Maximum: Rs. 10,000/- plus applicable service tax. NOTE 1) Actual charges for the following will be payable by the customer in addition to the processing fee: a) Pre-sanction Advocate's fee for property search and the title investigation report. (i.e. Legal charges Rs. 3000/-) Valuer's fee for valuation report (Rs.1500/-) b) Post-sanction Stamp duty payable for Loan agreement & mortgage. Applicable Property insurance premium Processing fee recovered CERSAI Registration Fee of Rs 50/- + service tax up to Rs 5 lakh limit and Rs 100+ service tax for limits above Rs 5lakhs

Features of our Housing loan:

• Daily reducing balance interest
• No hidden charges
• Free accident insurance
• Optional life insurance from SBI Life

More details on interest rates at https://www.sbi.co.in/portal/web/interest-rates/home-loans-interest-rates
----------------------------------------------------------------------------------------------------
For Site Loan: 

• Only 70% loan will be funded for site purchase (SBI Reality) out of the project cost (upto 75 Lakhs). Above Rs.75 Lakhs only 60% of loan will be funded
• Minimum loan amount Rs. 10 Lakhs
• No Maxgain facility will be made available under SBI Reality
• Maximum repayment period is 120 months
• Maximum time period stipulated for construction of house is 5 years from the date of first disbursement of site loan
• Rate under festival offer for loans upto Rs. 75 Lakhs (valid upto 31.12.2016):
• Women borrowers: 9.20% P.A
• Others: 9.25% P.A.

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List of Documents

1. Application form duly filled
2.SBI - Savings Bank Account (mandatory for SBI Maxgain account)
3. Salary Slip- last 3 months	Additional documents for Take Over Loans:
4. Copy of Form 16/IT returns- last 2 yrs	1) Pre Closure Letter from other Bank with HL o/s stating that the original documents will be handed over once the loan is closed and the mortgage is not extended to any other loan
5. Photograph – 1 each for applicant(s)/guarantor	2) Statement of HL account from beginning
6. Bank Statement for 6 months – salary account	3)Letter stating list of original documents held with the existing bank
7. Copy of employer's Identity Card, PAN card	4) Property Documents: Certified copy of Sale Deed, Katha copy, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS
8. Address Proof – HR letter	5) Home loan sanction letter from the other Bank
9. Marriage proof in case of joint applicants
10. Employment proof – HR letter proving the service in the company/CTC; copy of previous employment proof
11. Assets proof – Proof for assets possessed such as PF, PPF, Cash balance, FD, Shares, mutual funds, insurance, NSC, property, advance paid to builder/seller, vehicles etc
12. Guarantor-proof of ID, address, property, if working then 1 month salary slip, IT returns for 1 year (Guarantor required if project is under construction/purchase of plot/takeovers) Interim Guarantor is required for Take over loans
13. Property Documents  - Sale agreement, Construction agrmt, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS, Latest "A" katha certificate, Builders NOC, Cost Break up letter from builder.  For resale property Seller's KYC particulars required

Please note that EM creation charges ARE as applicable

Proof is required for the declared assets and liabilities (photocopy)

SBI Home Loan checklist - 1st Nov 2016

R P Mohan (SBI Marketing Consultant – Home Loans)

Mob: 9972332523 

Email : rpmohansbi@gmail.com

Financing will be done for BDA, BBMP, BMRDA, APA approved properties only

MCLR: Marginal Cost of Funds based Lending Rate

Funding :- Out of total project cost 80% loan will be funded.

Example: Project cost – 30 Lakhs;

Allowed loan = 80% of the cost = 80% * 30 Lakhs = 24 Lakhs

Note:- We also takeover existing housing loans of other banks/FI's.

FEES Processing Fee 0 % Processing Fee for Takeover of Home Loans proposals / Proposals under Builder Tie-up / Proposals sourced under OCAS for the period from 1st Oct, 2016 to 31st December, 2016 (Festive offer) 0% processing fee for all Central / State Govt. Employee The processing fee structure for proposals other than above is as under : 0.35% of the loan amount plus applicable service tax. Minimum: Rs. 2,000/- plus applicable service tax, and. Maximum: Rs. 10,000/- plus applicable service tax. NOTE 1) Actual charges for the following will be payable by the customer in addition to the processing fee: a) Pre-sanction Advocate's fee for property search and the title investigation report. (i.e. Legal charges Rs. 3000/-) Valuer's fee for valuation report (Rs.1500/-) b) Post-sanction Stamp duty payable for Loan agreement & mortgage. Applicable Property insurance premium Processing fee recovered CERSAI Registration Fee of Rs 50/- + service tax up to Rs 5 lakh limit and Rs 100+ service tax for limits above Rs 5lakhs

Features of our Housing loan:

• Daily reducing balance interest
• No hidden charges
• Free accident insurance
• Optional life insurance from SBI Life

More details on interest rates at https://www.sbi.co.in/portal/web/interest-rates/home-loans-interest-rates

List of Documents

1. Application form duly filled
2.SBI - Savings Bank Account (mandatory for SBI Maxgain account)
3. Salary Slip- last 3 months	Additional documents for Take Over Loans:
4. Copy of Form 16/IT returns- last 2 yrs	1) Pre Closure Letter from other Bank with HL o/s stating that the original documents will be handed over once the loan is closed and the mortgage is not extended to any other loan
5. Photograph – 1 each for applicant(s)/guarantor	2) Statement of HL account from beginning
6. Bank Statement for 6 months – salary account	3)Letter stating list of original documents held with the existing bank
7. Copy of employer's Identity Card, PAN card	4) Property Documents: Certified copy of Sale Deed, Katha copy, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS
8. Address Proof – HR letter	5) Home loan sanction letter from the other Bank
9. Marriage proof in case of joint applicants
10. Employment proof – HR letter proving the service in the company/CTC; copy of previous employment proof
11. Assets proof – Proof for assets possessed such as PF, PPF, Cash balance, FD, Shares, mutual funds, insurance, NSC, property, advance paid to builder/seller, vehicles etc
12. Guarantor-proof of ID, address, property, if working then 1 month salary slip, IT returns for 1 year (Guarantor required if project is under construction/purchase of plot/takeovers) Interim Guarantor is required for Take over loans
13. Property Documents  - Sale agreement, Construction agrmt, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS, Latest "A" katha certificate, Builders NOC, Cost Break up letter from builder.  For resale property Seller's KYC particulars required

Please note that EM creation charges ARE as applicable
Proof is required for the declared assets and liabilities (photocopy)

R P Mohan (SBI Marketing Consultant – Home Loans)

Mob: 9972332523 

Email : rpmohansbi@gmail.com

Financing will be done for BDA, BBMP, BMRDA, APA approved properties only

Date: 5.10.2015 Base Rate =9.30% p.a.

For Women Borrowers* (Floating)

Loan amount	Present Effective Rate (Floating)
Upto Rs. 1 Crore	9.50% p.a (0.20% above Base Rate)
Above Rs. 1 Crore	9.75% p.a (0.45% above Base Rate)
Fixed interest rate	No Fixed Interest Rate option

*A separate interest rate structure for the Woman Home Loan borrowers subject to the compliance of the following eligibility criteria.

• The woman should be the sole applicant or first co-applicant of Home Loan and also
• The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership

 For Other Borrowers (Floating)

Loan amount	Present Effective Rate (Floating)
Upto Rs. 1 Crore	9.55% p.a (0.25% above Base Rate)
Above Rs. 1 Crore	9.80% p.a (0.50% above Base Rate)
Fixed interest rate	No Fixed Interest Rate option

Processing fee :- Loan Amount Processing Fee

Upto Rs 25 lacs	0.25% of loan amount (Minimum Rs. 1000)
Rs.25 lacs to Rs.75 lacs	Rs.6,500/-
Above 75 lacs	Rs.10,000/-

Funding :- Out of total project cost 80% loan will be funded.
Example: Project cost – 30 Lakhs;

Allowed loan = 80% of the cost = 80% * 30 Lakhs = 24 Lakhs

Note:- We also takeover existing housing loans of other banks/FI's.

FESTIVAL OFFER HOME LOANS UPTO 31st March 2016: WAIVER OF PROCESSING FEE  Under the festival offer processing fee will be fully waived on all Home Loan proposals (both takeover and new proposals), irrespective of the loan amount  upto 31st March 2016 i.e. no processing fee

  

Features of our Housing loan:

• Daily reducing balance interest
• No hidden charges
• Free accident insurance
• Optional life insurance from SBI Life

List of Documents

1. Application form duly filled
2.SBI - Savings Bank Account (mandatory for SBI Maxgain account)
3. Salary Slip- last 3 months	Additional documents for Take Over Loans:
4. Copy of Form 16/IT returns- last 2 yrs	1) Pre Closure Letter from other Bank with HL o/s stating that the original documents will be handed over once the loan is closed and the mortgage is not extended to any other loan
5. Photograph – 1 each for applicant(s)/guarantor	2) Statement of HL account from beginning
6. Bank Statement for 6 months – salary account	3)Letter stating list of original documents held with the existing bank
7. Copy of employer's Identity Card, PAN card	4) Certified copy of Sale Deed
8. Address Proof – HR letter	5) Home loan sanction letter from the other Bank
9. Marriage proof in case of joint applicants
10. Employment proof – HR letter proving the service in the company/CTC
11. Guarantor-proof of ID, address, property, if working then 1 month salary slip, IT returns for 1 year (Guarantor required if project is under construction/purchase of plot/takeovers) Interim Guarantor is required for Take over loans
12. Property Documents  - Sale agreement, Construction agrmt, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS, Latest "A" katha certificate, Builders NOC, Cost Break up letter from builder.  For resale property Seller's KYC particulars required
13. Legal charges (Rs.3000/-)and valuation charges Rs.1500/-  Stamp duty for loan documents  Applicable Property Insurance fee

Please note that EM creation charges ARE as applicable
Proof is required for the declared assets and liabilities (photocopy)

SBI Home Loan Process - Oct 2015

R P Mohan (SBI Marketing Consultant – Home Loans)

Mob: 9972332523 

Email : rpmohansbi@gmail.com

Financing will be done for BDA, BBMP, BMRDA, APA approved properties only

Date: 5.10.2015 Base Rate =9.30% p.a.

For Women Borrowers* (Floating)

Loan amount	Present Effective Rate (Floating)
Upto Rs. 1 Crore	9.50% p.a (0.20% above Base Rate)
Above Rs. 1 Crore	9.75% p.a (0.45% above Base Rate)
Fixed interest rate	No Fixed Interest Rate option

*A separate interest rate structure for the Woman Home Loan borrowers subject to the compliance of the following eligibility criteria.

• The woman should be the sole applicant or first co-applicant of Home Loan and also
• The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership

 For Other Borrowers (Floating)

Loan amount	Present Effective Rate (Floating)
Upto Rs. 1 Crore	9.55% p.a (0.25% above Base Rate)
Above Rs. 1 Crore	9.80% p.a (0.50% above Base Rate)
Fixed interest rate	No Fixed Interest Rate option

Processing fee :- Loan Amount Processing Fee

Upto Rs 25 lacs	0.25% of loan amount (Minimum Rs. 1000)
Rs.25 lacs to Rs.75 lacs	Rs.6,500/-
Above 75 lacs	Rs.10,000/-

Funding :- Out of total project cost 80% loan will be funded.
Example: Project cost – 30 Lakhs;

Allowed loan = 80% of the cost = 80% * 30 Lakhs = 24 Lakhs

Note:- We also takeover existing housing loans of other banks/FI's.

TAKEOVER- CAMPAIGN FOR HOME LOANS UPTO 31.12.2015: WAIVER OF PROCESSING FEE  Under ‘Takeover Campaign’. Processing fee will be fully waived on all Home Loan Takeover proposals, irrespective of the loan amount  upto 31.12.2015 i.e. no processing fee

  

Features of our Housing loan:

• Daily reducing balance interest
• No hidden charges
• Free accident insurance
• Optional life insurance from SBI Life

List of Documents

1. Application form duly filled
2.SBI - Savings Bank Account (mandatory for SBI Maxgain account)
3. Salary Slip- last 3 months	Additional documents for Take Over Loans:
4. Copy of Form 16/IT returns- last 2 yrs	1) Pre Closure Letter from other Bank with HL o/s stating that the original documents will be handed over once the loan is closed and the mortgage is not extended to any other loan
5. Photograph – 1 each for applicant(s)/guarantor	2) Statement of HL account from beginning
6. Bank Statement for 6 months – salary account	3)Letter stating list of original documents held with the existing bank
7. Copy of employer's Identity Card, PAN card	4) Certified copy of Sale Deed
8. Address Proof – HR letter	5) Home loan sanction letter from the other Bank
9. Marriage proof in case of joint applicants
10. Employment proof – HR letter proving the service in the company/CTC
11. Guarantor-proof of ID, address, property, if working then 1 month salary slip, IT returns for 1 year (Guarantor required if project is under construction/purchase of plot/takeovers) Interim Guarantor is required for Take over loans
12. Property Documents  - Sale agreement, Construction agrmt, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS, Latest "A" katha certificate, Builders NOC, Cost Break up letter from builder.  For resale property Seller's KYC particulars required
13. Legal charges (Rs.3000/-)and valuation charges Rs.1500/-  Stamp duty for loan documents  Applicable Property Insurance fee

Please note that EM creation charges ARE as applicable
Proof is required for the declared assets and liabilities (photocopy)

SBI Home loan process June 2015

R P Mohan (SBI Marketing Consultant – Home Loans)

Mob: 9972332523 

Email : rpmohansbi@gmail.com

Financing will be done for BDA, BBMP, BMRDA, APA approved properties only

Date: 8.6.2015 Base Rate =9.70% p.a.

For Women Borrowers* (Floating)

Loan amount	Present Effective Rate (Floating)
Upto Rs. 1 Crore	9.70% p.a (at Base Rate)
Above Rs. 1 Crore	9.95% p.a (0.25% above Base Rate)
Fixed interest rate	No Fixed Interest Rate option

*A separate interest rate structure for the Woman Home Loan borrowers subject to the compliance of the following eligibility criteria.

• The woman should be the sole applicant or first co-applicant of Home Loan and also
• The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership

 For Other Borrowers (Floating)

Loan amount	Present Effective Rate (Floating)
Upto Rs. 1 Crore	9.75% p.a (0.05% above Base Rate)
Above Rs. 1 Crore	10.05% p.a (0.30% above Base Rate)
Fixed interest rate	No Fixed Interest Rate option

Processing fee :- Loan Amount Processing Fee

Upto Rs 25 lacs	0.25% of loan amount (Minimum Rs. 1000)
Rs.25 lacs to Rs.75 lacs	Rs.6,500/-
Above 75 lacs	Rs.10,000/-

Funding :- Out of total project cost 80% loan will be funded.
Example: Project cost – 30 Lakhs;

Allowed loan = 80% of the cost = 80% * 30 Lakhs = 24 Lakhs

Note:- We also takeover existing housing loans of other banks/FI's.

TAKEOVER CAMPAIGN FOR HOME LOANS UPTO 30.09.2015 WAIVER OF PROCESSING FEE  Under ‘Takeover Campaign’. Processing fee will be fully waived on all Home Loan Takeover proposals, irrespective of the loan amount  upto 30.09.2015

  

Features of our Housing loan:

• Daily reducing balance interest
• No hidden charges
• Free accident insurance
• Optional life insurance from SBI Life

List of Documents

1. Application form duly filled
2.SBI - Savings Bank Account (mandatory for SBI Maxgain account)
3. Salary Slip- last 3 months	Additional documents for Take Over Loans:
4. Copy of Form 16/IT returns- last 2 yrs	1) Pre Closure Letter from other Bank with HL o/s stating that the original documents will be handed over once the loan is closed and the mortgage is not extended to any other loan
5. Photograph – 1 each for applicant(s)/guarantor	2) Statement of HL account from beginning
6. Bank Statement for 6 months – salary account	3)Letter stating list of original documents held with the existing bank
7. Copy of employer's Identity Card, PAN card	4) Certified copy of Sale Deed
8. Address Proof – HR letter	5) Home loan sanction letter from the other Bank
9. Marriage proof in case of joint applicants
10. Employment proof – HR letter proving the service in the company/CTC
11. Guarantor-proof of ID, address, property, if working then 1 month salary slip, IT returns for 1 year (Guarantor required if project is under construction/purchase of plot/takeovers) Interim Guarantor is required for Take over loans
12. Property Documents  - Sale agreement, Construction agrmt, Latest Taxpaid receipt, Copy of Mother deed, approvals from local authorities (BDA, BBMP), Sanctioned plan,  ENCUMBRANCE Certificate for 13 YEARS, Latest "A" katha certificate, Builders NOC, Cost Break up letter from builder.  For resale property Seller's KYC particulars required
13. Legal charges (Rs.3000/-)and valuation charges Rs.1500/-  Stamp duty for loan documents  Applicable Property Insurance fee

Please note that EM creation charges ARE as applicable
Proof is required for the declared assets and liabilities (photocopy)