Home Loans - Checklist 1.

You should keep sufficient balance in your Savings Bank Account with SBI to meet: a) Loan Processing fees (0.25% of the loan amount minimum Rs.1,000/- for loan up to Rs.25.00 lacs, Rs.6,500/- for loans above Rs.25.00 lacs up to Rs.75.00 lacs and Rs.10,000/- for loans above Rs.75.00 lacs), b) Stamp charges for the documents (approximately Rs.2,000/-), c) Stamp charges for the mortgage (0.1% of the loan amount), d) Registration charges for the equitable mortgage (0.1% of the loan amount. This is applicable for loans of Rs.25.00 lacs and above) 2. Repayment will be only through ECS mandate from your salary account. An ECS form is sent herewith as an attachment. If you are maintaining your salary account with SBI, you may give a Standing Instruction (SI) in lieu of ECS. Your loan account number and the EMI details will be advised to you at the time of documentation. 3. If you have opted for payment of pre-EMI interest instead of the EMI amount during the moratorium period, please furnish a tentative drawal plan, date wise, so as to enable us to assess the approximate interest amount to be paid by you. Please note that this payment should be made by means of ECS/SI from your salary account. 4. In addition to the ECS/SI for repayment, you will be required to submit six security cheques from your salary account drawn in favour of your loan account. Accordingly, please note to bring these cheques while coming for documentation. 5. You will bring postage stamp worth Rs.25/- (in denomination of Rs.5/- and above) 6. You will bring the following documents while coming for documentation: The original Agreement for Sale (duly witnessed by 2 persons) and Agreement of Construction, which will be retained by the Bank. Original receipts issued by the vendor/builder for the amount already paid by you. These receipts will be retained by the Bank as evidence of payment of your share (called margin money, which is the cost of the project minus the loan amount) for acquiring the property.

Non-encumbrance certificate for the property as on a recent date. Latest receipt of the property tax payment.

7. Please note that registration of the property will have to be done for the same value as mentioned in the Agreement for Sale or the guidance value whichever is higher. 8. If you have been sanctioned the loan under the Max-gain facility, please note that the facility will be available only after all the formalities of creation of mortgage of the property are completed. 9. The rate of interest for your loan is on floating rate basis linked to Banks Base Rate, which means that the interest rate will undergo change with revision in the Base Rate. 10. It is strongly recommended and advised that the cover of group life insurance policy should be taken so that in case of any unforeseen eventuality, the burden of closing the loan account does not fall on the legal heirs. The premium amount can also be sanctioned as a loan at the same rate of interest and the same tenure as the home loan. The premium is collected in five equal yearly instalments. A representative of SBI Life Insurance is available in our premises to take care of all related issues. In case you have opted for this at the time of submitting the loan application or in case you have not already opted but are now interested to take a cover, please bring copies of the proof of date of birth as well as copies of Income Tax returns for the past two years. 11. SBI card is made available to you (if you desire) as a preferred customer free of cost for the first year. SBI card representative is available at RACPC for your assistance. Regards