Existing Home Loan borrowers can opt for switch over to current rate of interest on Home Loans by paying

0.57% of the outstanding

WELCOME to SBI Home Loans
"THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards along with the
MOST PREFERRED BANK AWARD in a survey conducted by TV 18 in association with AC Nielsen-ORG
Marg in 21 cities across India.
SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State
Bank of India.
Best Practices followed in SBI mentioned below will tell you why it makes sense to do business with State
Bank of India.
SBI Home Loans Unique Advantage

Low Processing Charges

Package of exclusive benefits.

Low interest rates. Further, we charge interest on a daily reducing balance!!

No hidden costs or administrative charges.

No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by
prepaying the loan.

Over 15,969 branches nationwide, you can get your Home Loan account parked at a branch nearest to
your present or proposed residence.

HOME LOAN PRODUCTS

SBI MAXGAIN
HOME LOAN AS AN OVERDRAFT

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 Loan Amount : Rs.20 lacs
Maximum Loan Amount : No Cap
Interest Rate

A premium of 0.25% over and above the applicable Home Loan interest rate for Home Loan > Rs.1
crore is payable.

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

SBI YUVA HOME LOAN

TAILOR MADE HOME LOAN SCHEME FOR THE YOUTH

SBI YUVA Home Loan provides 20% higher loan amount than that of normal Home Loan eligibility to
Salaried employees of Private Sector Companies/MNCs/Government Undertakings/PSUs & the
Government employees.

Eligibility

Age between 21 years to 45 years.

Minimum Net Monthly Income of applicants should be Rs. 30,000/- (expected rental income from the
proposed property should not be included in the monthly income of the borrower).

Repayment

Under SBI Yuva Home Loan Scheme, only the interest applied on Home Loan is payable during the first
36 months. The regular EMIs start after completion of 36 months.

(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)
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 Loan Amount: Rs. 3 lacs
Maximum Loan Amount: No upper cap.
(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
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 Loan Amount: Rs.10 crores

Repayment Period : Upto 15 years
(Other terms and conditions are as applicable to regular Home Loan Scheme)

SBI PAL
PRE-APPROVED HOME LOAN

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 TRIBAL PLUS

SPECIAL HOME LOAN SCHEME FOR HILLY/TRIBAL AREAS
' 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 Loan Amount: Nil
Maximum Loan Amount: Rs. 10 lacs
Repayment Period
Maximum repayment tenure: 15 years

GRAM NIWAS
HOME LOANS IN RURAL 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 Loan Amount: Nil
Maximum Loan Amount: Rs. 5 lacs
Repayment Period
Maximum repayment period :15 years
(Processing Charges are waived under the Gram Niwas Scheme)

SAHYOG NIWAS
HOME LOANS TO SELF HELP GROUPS 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.

RELATED HOME LOAN PRODUCTS

SBI TOP UP HOME LOAN

Eligibility

All Home Loans with a satisfactory repayment track of at least one year.

Valid mortgage should have been created in favour of the Bank.

Loan Amount
Minimum Loan Amount: Rs. 3 lacs
Maximum Loan Amount: Rs. 5 crores.

Processing Fee
Processing Fee 0.35% of Loan Amount subject to a minimum of Rs 1500/- 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.
Interest Rate (w.e.f. 8th June, 2015)
Top-up loan amount

Term Loan

LoOverdraft

Upto Rs. 50 lacs

0.50% above BR,

effective rate 10.20%

0.75% above BR,

effective rate 10.45%

Above Rs. 50 lacs &

Upto Rs. 2 crores

0.75% above BR,

effective rate 10.45%

1% above BR, effective

rate 10.70%

Above Rs. 2 crs &

upto Rs. 5 crores

1.25% above BR,

effective rate 10.95%

1.50% above BR,

effective rate 11.20%

EARNEST MONEY DEPOSIT (EMD) SCHEME:

LOAN FOR EARNEST MONEY FOR ALLOTMENT OF A HOUSE/PLOT

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.

SBI REVERSE MORTGAGE LOAN

LOAN FOR THE WELFARE OF SENIOR CITIZENS IN INDIA
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
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 Base Rate, present effective rate being 12.60% p.a. (Fixed) subject to reset every 5
years.

Disbursement

Either in Monthly/Quarterly payments or 50% of the sanctioned limit in lump-sum and the remaining in
periodic payments.

FEATURES
Eligibility:
Minimum age: 18 years as on the date of sanction
Maximum age: 70 years. i.e. the age by which the loan should be fully repaid, subject to availability of
sufficient, regular and continuous source of income for servicing the loan repayment.
Loan Amount:
Actual loan amount will be determined taking into consideration such factors as applicant's income and
repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc. To enhance loan eligibility
you have option to add:
1) Income of your spouse/ your son/ daughter living with you, provided they have a steady income and his/
her salary account is maintained with SBI.
2) Expected rent accruals (less taxes, cess, etc.) if the house/ flat being purchased is proposed to be rented
out.
3) Depreciation, subject to some conditions.
4) Regular income from all sources.
Security:

Equitable mortgage of the property

Margin/ LTV Ratio:

Individual Home Loan
Amount

Margin (Min.)
(%)

LTV Ratio
(%)

Upto Rs. 20 Lacs

10

90

Above Rs. 20 Lacs. and upto

Rs. 75 lacs

20

80

Above Rs. 75 lacs

25

75

*LTV ratio- 18 years as on the date of sanction

FEES
The processing fee structure (including service tax) is as under :
Home Loan Amount

Processing Fee w.e.f.

01.04.2015

Upto Rs. 25 Lacs

0.25% of loan amount,

minimum Rs. 1000/-

Above Rs. 25 lacs & upto Rs. 75 lacs

Rs. 6,500/-

Above Rs. 75 lacs

Rs. 10,000/-

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.

Valuer's fee for valuation report.

b) Post-sanction

Stamp duty payable for Loan agreement & mortgage.

Property insurance premium.

Processing fee recovered.

CERSAI Registration Fee of Rs 250/- + service tax up to Rs 5 lakh limit and Rs 500+service tax for
limits above Rs 5lakhs

Pre-closure / Pre-payment Penalty - NIL

HOME LOANS - INTEREST RATES With effect from 08.06.2015
(Base Rate: 9.70%)
Borrowers'
category

Home Loan interest rate,

irrespective of loan limit

Maxgain above Rs. 1

crore

Women

At BR i.e. 9.70% p.a.

25 bps above the BR

i.e. 9.95% p.a.

Others

5 bps above the Base Rate

i.e. 9.75% p.a.

30 bps above the Base

Rate i.e. 10.00% p.a.

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

REPAYMENT
Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which the loan should be
fully repaid) of the borrower, whichever is early.
Moratorium period (Repayment holiday): The moratorium period is included within the maximum
repayment period.
DOCUMENTS
List of papers/ documents applicable to all applicants:

Completed loan application

3 Passport size photographs

Proof of identify (photo copies of Voters ID card/ Passport/ Driving

licence/ IT PAN card)

Proof of residence (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 as above

Proof of residence as above

Proof of business address as above

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.

TAKEOVER OF HOME LOANS

1. Whether Home Loan can be taken over from the following Institutions?

Scheduled Commercial Banks (SCBs);

Private and Foreign Banks;

Housing Finance Companies (HFCs) registered with National Housing Bank (NHB);

Borrowers employers if they are Central/State Govts. or their undertakings or Public Sector
Undertakings,

Yes. subject to the following:

Borrower should satisfy the eligibility criteria for availing Home Loan as per the Banks instructions.

The borrower should have serviced interest and/or instalment of the existing loan regularly, as per the
original terms of sanction.

The borrower has valid documents evidencing the title to the house/flat.

2. Whether take over with sanction of Higher Loan Amount & extended Repayment Period is
possible?
Yes.Based on the merits of the case and requirements/ eligibility of the borrower, the Bank may sanction an
amount higher than the amount taken over from other bank/ financial institution forpurposes of renovation/
extension/ furnishings. Similarly extended repayment period may be sanctioned provided that at all times
the criteria regarding maximum permissible finance and security margin under the Bank's scheme are not
diluted.
3. What is the procedure for Take Over?

The borrower should address a letter to the bank/ financial institution from whom he has availed the loan
asking them to deliver, immediately upon receipt of the loan amount, the title deeds and other securities,
if any, direct to our lending branch;

The borrower should give to the branch a request letter for paying to his existing lending bank / financial
institution the outstanding amount of his loan by debit to his loan account;

The borrower must give an advice of the actual outstandings (with up-to-date interest) in the loan
account from the other bank/ financial institutions;

the statement of Account for the entire period of loan or for the last 10/12 months where the loan has run
for a longer period;

Confirmation letter from the financing Bank that they have created an equitable mortgage over the
property.

4. What are the documents required for availing the loan?

Disbursal must be effected only subject to the above information being found satisfactory and completion of
formalities as regards

Agreement to create Mortgage,

Power of Attorney in the favor of the Bank authorizing the Bank to create equitable mortgage on the
borrowers behalf.

Interim security (Ex: Bank Deposit Receipts, LIC Policies, etc) and the security obtained in the interim
period will be released after receipt of the title deeds then the other Bank and creation of a valid
equitable mortgage subsequent to verification of the borrower's title to the property.

Required loan documents.

5. Whether Pre-payment penalty is funded?

Yes. Total loan quantum, will however, continue to be determined by eligibility criteria based on income,
EMI/NMI ratio, LTV ratio etc. applicable to Home Loans scheme.
6. Whether takeover of Home Loan with Top up loan is permitted?
Yes. Home Loan with top up loan can be taken over subject to Maximum LTV of 75 % and fulfillment of
other terms and conditions of takeover. Processing fees for such takeover will be flat Rs 1000/- + service tax
@ 12.36% irrespectuve if the loan amount during campaign period upto 31.01.2014.