Is SBI good for acquiring a home loan? What is the requirement for the home loans of SBI? On the contrary, before acquiring any type of loan it’s important you check out more about the company first and also the loan rate. Many people acquire loan without knowing the loan rate and other policies as well. In the meantime, SBI home loan known as State Bank of India is apparently the leading and biggest mortgage lender in India that has provided assistance to over 25 million families in acquiring the dream of having a home.
Furthermore, the SBI home loan interest rate is considered as one of the best interest loan rates provided in terms of home loans in the market. As being the largest public sector bank of mortgage loans, SBI is built on the core of provides applicants with transparency, excellence and integrity services to members who acquire loans on the platform. However, the benefit of acquiring a home loan includes
- Lots of package that comes with exclusive benefits.
- Provides you with low-interest rates
- Also, you can utilize your surplus funds with the provision of the overdraft.
- SBI home loan comes with a low processing charge as well as no hidden costs.
In addition, other benefits include repayment up to 30 days, interest concession for women borrowers and lots more. Moreover, if you want to apply for the SBI home loan, you must be eligible for loan by meeting the requirement.
What is the Eligibility & Requirement?
On the contrary, there are practically two things that are required and one is the eligibility for acquiring a home load. The second the requirement needed in acquire the home loan. Hence, you can check the following to know where you stand.
SBI home loan eligibility:
- Firstly, you must be a resident of Indian, outsiders can’t apply for a loan.
- Secondly, the minimum required age is 18 year and the maximin is 70 years.
- Also, the loan tenure should be up to 30 years.
- Permission for construction
- Employer identity card
- Provide a complete loan application that includes your detail.
- Proof of identity either PAN, Passport, Voter ID or even your Driver License.
- Also, you need to provide proof of residence that can be a copy of telephone bill, electrify bill or water bill.
However, this is just a brief of the document required, we also have the document of Property Papers, Account Statement, Income Proof for Salaried Applicant, and Non-Salaried Applicant. Also, you can learn more about the following document as well as the interest rate & fees while going through the application
How to Apply for State Bank of India Home Loan Online
Just like I mentioned, there are certain applications for you need to download and fill which includes the Home Loans Application Form. Therefore, visit the link www.homeloans.sbi on your web browser. Scroll down to the last bottom of the page and tap on the option “Click here to download Home Loan Application Form”.
- Afterward, you can click on the category “Our Products” at the top of the page.
- On that page, you can check out the interest rate & fees and also the document required.
- Next, click Apply Now in other to apply for SBI loan online.
- Fill out the requirement and then follow the on-screen instruction.
In summary, ensure that details, provided are correctly stated so as not to compromise the chance of acquiring the loan. Also, you can download the SBI Home Loan Mobile app in other to stay updated with the benefits and other products.