HOME LOAN PRODUCT VARIANTS

RELATED HOME LOAN PRODUCTS

HOME LOAN PRODUCTS

HOME LOAN PRODUCTS - VARIANTS

Higher Home Loan eligibility with flexible repayment option.

Up to 1.2 times higher loan eligibility compared to loan eligibility under normal

Home Loan schemes available to working professionals/executives. Loan

amount, however, must be Rs.20 Lacs or higher.

Salaried applicants with minimum 2 year experience and aged between 21-45

years will be eligible to avail of SBI Flexi Pay Home Loan.

To neutralize the impact of such additional loan on monthly EMIs, customers

have the option of paying only interest during the moratorium (pre-EMI) period,

and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the

subsequent years.

Option of selecting moratorium of up to 36-60 months. Only interest to be repaid

during the selected moratorium period.

Longer repayment of 25 to 30 years is available under the scheme. However,

customers will be free to make prepayments towards their Home Loan without

any pre-payment penalty.

(Other terms and conditions are as applicable to regular Home Loan Scheme)

SBI FLEXIPAY HOME LOAN

An innovative and customer-friendly product enabling the customers to

earn optimal yield on their savings by reducing interest burden on Home

Loans, with no extra cost.

The loan is sanctioned as an Overdraft with added flexibility to operate

the Home Loan Account like SB or Current Account. Bank also provides

Cheque Book/Net Banking facility for the purpose.

The product enables customers to park their surplus funds/savings in •

SBI Maxgain• (with an option to withdraw whenever required), especially

in the wake of low yields on other Deposit/Investment products.

Loan Amount : Minimum : Rs.20 Lacs

Maximum : No Cap

(Other terms and conditions are as applicable to regular Home Loan Scheme)

SBI MAXGAIN HOME LOAN AS AN OVERDRAFT

Eligibility:

Non Resident Indians (NRIs) or Persons of Indian Origin(PIOs)

The applicants should have a regular source of income.

Minimum employment tenure in India/Abroad should not be

less than 2 years.

Loan Amount : Minimum : Rs.3 Lacs

Maximum: No upper cap.

(Other terms and conditions are as applicable to regular Home Loan Scheme)

NRI HOME LOANS

HOME LOANS TO NON RESIDENT INDIANS (NRIs) & PERSONS OF INDIAN ORIGIN (PIOs)

SBI Realty provides an opportunity to the customer to

purchase a plot for construction of house.

The construction of house should commence within 2 years

from the date of availment of •SBI Realty Loan•.

Customers are also eligible to avail another Home Loan for

construction of house on the plot financed under the SBI

Realty with the benefit of running both the loans concurrently.

Loan Amount : Maximum: Rs.10 Crores

Repayment Period : Up to 15 years

(Other terms and conditions are as applicable to regular Home Loan Scheme)

SBI REALTY HOME LOANS FOR PURCHASE OF PLOT FOR CONSTRUCTION

OF A DWELLING UNIT

The SBI PAL provides sanction of Home Loan limits to the customers

before finalization of the property which enables them to negotiate with

the Builder/Seller confidently.

The loan eligibility will be assessed on the basis of income details of the

applicant.

Non-refundable processing fee as applicable to the Home Loan will be

collected at the time of sanction.

Validity Period :

Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4

months. Property papers will be required to be submitted by the borrower

within the validity of PLAL. Processing fee will not be levied again.

Loan Amount :

Pre-approved loan arrangement letter (PLAL) will carry the eligible loan

amount calculated on the basis of prevailing interest rates.

Minimum Loan amount: Rs.10 Lacs.

(Other terms and conditions are as applicable to regular Home Loan Scheme)

SBI PAL PRE-APPROVED HOME LOAN

‘SBI Tribal Plus' is a Special Home Loan Scheme designed

for Hill/Tribal areas (where mortgage of the property is not

possible) for extending financial assistance to individuals.

Loan is sanctioned for Purchase or construction of a new

house/flat (without mortgage of land).

Purchase of an existing (old) house/flat which is not more

than 10 years old.

Repair/Renovation/extension of an existing house or flat.

Loan Amount:

Minimum : Nil

Maximum : Rs. 10 lacs

Repayment Period

Maximum repayment tenure: 15 years

SBI TRIBAL PLUS SPECIAL HOME LOAN SCHEME FOR HILLY/TRIBAL AREAS

Scheme covers all Rural and Semi-urban centres

having population upto 50,000 as per 2001 census.

Home Loans under •Gram Niwas Scheme• are

sanctioned for purchase/ construction/repair and

renovation of house and purchase of plot for

construction of a house/shed etc.

Loan Amount : Minimum : Nil

Maximum : Rs.5 lacs

Repayment Period

Maximum repayment period : 15 years

(Processing Charges are waived under the Gram Niwas Scheme)

GRAM NIWAS

HOME LOANS IN RURAL AREAS

The Sahyog Niwas Scheme provides Home Loan to Self help

groups, having good payment record of 2 years, for on lending

to their members for :

Purchase or construction of a house exclusively or including

the housing needs of activities carried by them (Dairy shed,

tailoring shed/shop, grocery stores etc.)

Renovation or repair of an existing house/shed

Purchase of a plot for the construction of house

Extension of existing house/work space to existing house/

shed.

Loan Amount : Home Loan amount under •Sahyog Niwas

Scheme• is restricted to 10 times of the saving corpus of SHG

subject to a maximum amount of Rs.50,000/- per member.

SAHYOG NIWAS

HOME LOANS TO SELF HELP GROUPS IN RURAL AREAS

RELATED HOME LOAN PRODUCTS

Processing Fee - 0.35% of Loan Amount subject to a minimum of

Rs.2000/- and Maximum of Rs 10,000/-.

Permissible Loan amount is calculated at 75% of present market

value of the house property less present outstanding in the Home

Loan account.

SBI TOP UP HOME LOAN

Top-up loan amount Term Loan

Up to Rs. 25 lacs 0.35% above MCLR, effective rate 9.55%

Above Rs. 25 lacs & Upto Rs. 2 crores 0.80% above MCLR, effective rate 10.00%

Above Rs. 2 crs & upto Rs. 5 crores 2.05% above MCLR, effective rate 11.25%

Top-up loan amount Overdraft

Above Rs. 20 lacs & Upto Rs. 2 crores 1.80% above MCLR, effective rate 11.00%

Many Government agencies, viz. Urban Development Authorities and

Housing Boards, periodically come out with schemes for allotment of

plots/houses, wherein applicants have to deposit 10-20% of the total

cost of plot/house as Earnest Money Deposit (EMD).

SBI Earnest Money Deposit Scheme provides finance for Earnest

Money deposit to all individuals above 21 years of age.

Applicant should have regular source of income.

No minimum income criteria.

Margin waived. Finance upto 100% of application money, subject to a

maximum loan amount of Rs.10 Lacs.

No security, irrespective of the loan amount.

Above mentioned features of the scheme are applicable subject to

the following conditions:

Allotment letters/refund orders should be routed through SBI.

Lump sum amount equal to 6 months interest to be paid upfront.

Two PDCs, one for the principle amount of EMD and another towards

interest for the next 6 months should be taken to meet the

eventuality of refund getting delayed.

EARNEST MONEY DEPOSIT (EMD) SCHEME

LOAN FOR EARNEST MONEY FOR ALLOTMENT OF A HOUSE/PLOT

House-owning Senior Citizens having inadequate income can avail

this loan to meet their financial needs for renovation/repairs to

house, medical & other personal uses.

No compulsion for the borrower to repay the loan amount during

his or her lifetime or till such time he or she continues to stay in

the house.

Borrowers have the options to prepay the loan at any time

without any pre-payment penalty.

Processing Fee : 0.50% of the Loan Amount with a Minimum of

Rs.500/- and Maximum of Rs.10,000/-

Interest Rate : 2.75% above the MCLR, present effective rate

being 11.95% p.a. (Fixed) subject to reset every year.

Disbursement : Either in Monthly/Quarterly payments or 50% of

the sanctioned limit in lump-sum and the remaining in periodic

payments.

SBI REVERSE MORTGAGE LOAN [FOR THE WELFARE OF SENIOR CITIZENS IN INDIA]

REVISED RATE OF INTEREST EFFECTIVE 01ST APRIL, 2016 home loan product - variants

Sr.

No.Product Type

MCLR

(1 Year)

Spread

Over

MCLR

Effective Rate

(1 Year Reset)

Her Home 9.20% 0.20% 9.40%

Others 9.20% 0.25% 9.45%

Her Home 9.20% 0.30% 9.50%

Others 9.20% 0.35% 9.55%

Her Home 9.20% 0.55% 9.75%

Others 9.20% 0.60% 9.80%

Her Home 9.20% 0.75% 9.95%

Others 9.20% 0.80% 10.00%

Upto Rs.1 Crore 9.20% 1.60% 10.80%

Above Rs.1 Crore

& Upto Rs.2 Crores9.20% 2.10% 11.30%

Above Rs.2 Crores

to Rs.5 Crores 9.20% 2.60% 11.80%

Upto Rs.7.50 Crores

& Upto Rs.2 Crores in

Metro & Rs.5 Crores in

Non-Metro

9.20% 3.35% 12.55%

Above Rs.7.50 Crores

in Metro & Rs.5 Crores

in Non-Metro

9.20% 3.50% 12.70%

4 CRE Maxgain (Irrespective of Loan)

5

6

Loan Against Property (LAP)

Rent Plus

Home Loan (Term Loan) and CRE Home Loan

(Term Loan)1

Maxgain Home Loan above Rs.20 Lacs & upto

Rs.1 Crore2

3 Maxgain Home Loan above Rs.1 Crore

REVISED RATE OF INTEREST EFFECTIVE 01ST APRIL, 2016 RELATED home loan products

Sr.

No.Product Type

MCLR

(1 Year)

Spread

Over

MCLR

Effective Rate

(1 Year Reset)

Upto Rs.25 Lacs 9.20% 0.35% 9.55%

Above Rs.25 Lacs

& Upto Rs.2 Crores9.20% 0.80% 10.00%

Above Rs.2 Crores 9.20% 2.05% 11.25%

Home Top Up Loan (Overdraft)

Upto Rs.7.50 Crores

& Upto Rs.2 Crores in

Metro & Rs.5 Crores in

Non-Metro

9.20% 1.80% 11.00%

2 Earnest Money Deposit (EMD) Scheme - 9.20% 4.55% 13.75%

For Public 9.20% 2.75% 11.95%

SBI Pensioners 9.20% 1.75% 10.95%

Home Top Up Loan (Term Loan)

3 Reverse Mortgage Loan

1

Individual Documents – Salaried Person

Two Passport size photographs

Self attested photo copy of PAN Card/Passport/Voter ID/Aadhar

Residence Proof - Self attested Photo Copy of BSNL or MSEB Bill or Company

Letter affixing rubber seal

Experience letter of previous Company , if present employment less than 2 years

Self attested photo copy of Confirmation letter of present Company

Self attested photo copy of latest 3 month’s Salary slips

Self attested photo copy of latest 6 month’s salary account Bank statement

Self attested photo copy of 2 year’s Form-16

Self attested photo copy of all loan Account statement for at-least one year if any

current loan running

Self attested photo copy of all investment proof i.e. LIC/Mutual Funds/PPF

Account/Shares/FD etc.

Letter from financial institution or Bank stating the outstanding amount including

foreclosure charges if any [Additional document in case of Take Over (Transfer from

financial institution or Bank)

List of original documents with financial institution or Bank [Additional document in

case of Take Over (Transfer from financial institution or Bank)

LIST OF DOCUMENTS

Doctors and Self Employed Customer :

Two Passport size photographs

Self attested photo copy of PAN Card/Passport/Voter ID/Aadhar

Residence Proof - Self attested Photo Copy of BSNL or MSEB Bill or Index II or

Telephone Bill

Self attested photo copy of Degree Certificate

Self attested photo copy of Shop Act License [Not Applicable in case of

Partnership Firm]

Self attested photo copy of Notarized Partnership Deed

Self attested photo copy of MOA and AOA along with Share Holding Pattern and

Company Financials for last 3 years along with Bank Statements for 6 months

Self attested photo copy of latest 3 years Income Tax return with Computation of

Income Profit & Loss and Balance Sheet. If audited, then audit reports duly attested

by the Chartered Accountant.

Original latest 1 Year Bank Statement of firm

Original latest 1 year Saving Bank Account Statement

Self attested photo copy of all investment proof i.e. LIC/Mutual Funds/Property/NSC/

PPF etc.

All loan details and track record.

LIST OF DOCUMENTS

Builder’s Documents (At present Photo Stat Copies)

Registered Agreement along with Index II and registration receipt

Approved Blue Print of the Floor Plan

No Objection Certificate from the Builder/Society

Property Documents Set i.e. 7/12Extract, Development Agreement, Power of Attorney if

any, ULC order, N.A. Order, Builder’s Title Search Report, Commencement Certificate to

construct etc.

Additional documents in resale property purchase along with the above documents :

Draft of Agreement to Sale and Sale Deed

Copy of latest outstanding letter of the earlier institute/Bank, if there is any of the

previous owner

List of original documents from the earlier financial institute/Bank

Completion and Possession Certificate

Copy of latest Property Tax paid as well as MSEB Bill

Conveyance Deed, if any

Share Certificate

Possession/Allotment Letter

Pan Card and address proof of the seller

A letter from Seller for cheque favoring along with complete details of Bank account, Bank

name and Branch

Bank Statement as per cheque favoring.

LIST OF DOCUMENTS

Additional Documents in case of Balance Transfer case along with

the Builder Documents :

Copy of latest outstanding letter of the earlier financial institute/Bank , if there is

any of the previous owner

List of original document from the earlier financial institute/Bank

Track record of the loan for latest one year

Conveyance Deed, if any

Society registration certificate along with Share Certificate

Latest Property Tax paid receipt along with M.S.E.B. Bill

Possession Certificate

ONE INTERIM GUARANTOR WORTH LOAN AMOUNT IS REQUIRED if Balance

Transfer case Or Resale case, where there is existing loan. His / Her net-worth

should be equal to the loan amount taken.

o Charges for Housing Loan Processing :

Processing Fee 0.25% of Loan amount with a maximum of Rs.6,500/- up to Rs.75

Lacs

Advocate Fee Rs.4,000/-

Stamp duty for Equitable Mortgage – 0.2% of Loan amount + Rs.2,000/- approx.

Property Insurance for the tenure – one time. Premium approx. Rs.562/- per Lac

(property cost)

Valuation Charges – Rs.845/-

LIST OF DOCUMENTS

THANK YOU VERY MUCH FOR GIVING US YOUR PRECIOUS TIME ! PS : As Counselor is appointed by Bank only, customer doesn’t pay anything except Rate Structure decided by Bank.