HOME LOAN DETAILS OF SBI

Presented By: Kumar Saurabh BBA 4th Semester

INTRODUCTION
"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 is the most leading bank in terms of Home Loans. The bank offers home loans for purchase and/or construction of house property as well as plot loans. It offers loans for buying resale property and extension/ repair/ renovation/ alteration of an existing house.

HISTORY OF SBI
STATE BANK OF INDIA (SBI) is government owned and is the largest bank in India. It traces its ancestry back to the Bank of Calcutta which was established in 1806; this makes SBI the oldest commercial bank in Indian subcontinent. Manages the nations largest ATM networks. SBI provides various domestic, national, and NRI products and services through its vast network in India and overseas.

LIST OF FEW SBI HOME LOANS

1. 2. 3. 4. 5. 6. 7. 8. SBI MAXGAIN SBI YUVA HOME LOAN NRI HOME LOANS SBI REALTY SBI PAL SBI TRIBAL PLUS GRAM NIWAS SAHYOG NIWAS

FEATURES OF HOME LOANS

Provision for on the spot " In principle" approval. Loan sanctioned within 6 days of submission of required documents. Option to avail Home Loan as a Term Loan or as an Overdraft facility to save on interest and maximize gains. Option to club income of your spouse and children to compute eligible loan amount

 Repayment permitted upto 70 years of age. Free personal accident insurance cover upto Rs.40 Lac. Interest calculated on daily reducing balance basis, and starts from the date of disbursement. Option to avail loan at the place of employment or at the place of construction

ELIGIBILITY FOR LOANS

Minimum age 18 years as on the date of sanction. Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid.

RATE OF INTEREST
- Float Interest Rate : 10.25 - Tenure 20 - Processing Fee : 0.50% of loan amount or max Rs. 10000 - Prepayment Charges : 2% on the amount prepaid only incase of takeover - Statement Charge : NA

CONCLUSION
SBI has made home loans in India easy. It provides adequate home loans at suitable interest rates and time period. Lowest Equated Monthly Installments (EMI). No hidden or administrative costs. Unique facilities such in principle approval, overdraft facility, option to enhance loan amount eligibility, free personal accident insurance and varied schemes like the plus schemes.