How to avail SBI home loan
One can avail an SBI home loan online and via the bank's YONO platform. Here is a look at the features and documents required to avail an SBI home loan.
By ET Online | Updated:
Getty Images
The State Bank of India (SBI) offers various types of home loans. These include Regular Home Loan, SBI Privilege Home Loan for government employees, SBI MaxGain Home Loan, SBI Smart Home, Top-up Loan for existing customers, SBI NRI Home Loan, SBI FlexiPay Home Loan for loan of higher amount and SBI HerGhar Home Loan for women. One can avail the loan online and via the YONO platform.
Here is a look at the features and documents required to avail a home loan from the PSU lender, according to a press release issued by SBI.
Customers can click on the link below to apply for the home loan, fill in the required details, check eligibility and get the loan quotation: https://onlineapply.sbi.co.in/personal-banking/home-loan?se=SBI-Microsite&cp=Homeloan&Ag=SBI-Microsite
How to avail home loan using YONO SBI
What are the documents required
Account statement
Here is a look at the features and documents required to avail a home loan from the PSU lender, according to a press release issued by SBI.
- Home loan tenure: 3-30 years
- Interest rate: SBI offers credit score linked home loans at just 6.70%, irrespective of the loan amount
- Zero processing charges
- No hidden or administrative charges
- Interest concession for women borrowers
- Credit score linked home loans
- No prepayment penalties
- Interest calculation on a daily reducing balance
- Home loan also available as an overdraft
Customers can click on the link below to apply for the home loan, fill in the required details, check eligibility and get the loan quotation: https://onlineapply.sbi.co.in/personal-banking/home-loan?se=SBI-Microsite&cp=Homeloan&Ag=SBI-Microsite
How to avail home loan using YONO SBI
- Login to your YONO account
- On the home page, click on the menu (three lines) on the top extreme left
- Click on loans
- Click on Home Loan
- Do a quick eligibility check by providing your date of birth
- Enter your income source
- Enter your net monthly income
- Details of any other loans
- Check your eligible loan amount and proceed
- Fill in the other required details and click on submit
- You will get a reference number and an SBI executive will call you shortly
Festive season has commenced and banks as well as non-banking financial institutions have already rolled out a plethora of festival offers like lower interest rates on loans and waiver of processing fees. Indian banks are aggressively pushing loans for both home and gadget purchases at record low rates of interest, tapping into festive season optimism.
Last month, finance minister Nirmala Sitharaman had asked state-run banks to step up lending and hold credit outreach programmes across India from October to bolster the various stimulus packages. With outreach programmes thus scheduled to return soon, credit flow to productive sectors of the consumer economy is likely to increase further. Here is the cheer that some major lenders are bringing you this festive season.
What are the documents required
- Employer Identity Card
- Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
- Proof of Identity (Any one): PAN/ Passport/ Driver's License/ Voter ID card
- Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
- Permission for construction (where applicable)
- Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
- Occupancy Certificate (in case of ready to move property)
- Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
- Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
- Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller
Account statement
- Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
- If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
- Salary Slip or Salary Certificate of last 3 months
- Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by income tax department
- Business address proof
- IT returns for last 3 years
- Balance Sheet & Profit & Loss A/c for last 3 years
- Business License Details(or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A./ Doctor and other professionals)
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Related Articles
LIC Housing Finance cuts home loan rates: How do revised rates compare with SBI home loans?2025-12-23T06:58:36Z- SBI home loan EMIs to reduce as PSU bank cuts lending rates: Check latest SBI EBLR, MCLR, base rates2025-12-13T02:33:12Z
- Good news for SBI home loan borrowers: EMIs to fall as the bank reduces the lending rates2025-02-14T13:07:07Z
ADVERTISEMENT
