There are many benefits of taking loan from government banks. If you are also taking loan from SBI, then what things should you consider first? Today I will tell you about my 5 year experience of home loan. Please read my complete experience about Sbi home loan.
About SBI Home Loan
If there is any bank which is more competitive than Reserve Bank of India, then it is our very own State Bank of India, the old name of SBI is Bank of Madras and today the biggest bank in India is SBI, well forget about it, now let’s talk about SBI home loan.
SBI Home loan ROI %
Taking about the rate of interest of SBI home loan,We are still getting the cheapest and affordable rate in the marcket of the loan. Current ROI is 8.25% Last update by RBI governor sanjay malhotra just recently after the MPC meeting 0.25 basis point has been reduced.and the repo rate hase also changed.Earlier,in the last 2023 repo rate was increased by 6.50% but now it has been made by 6.25% by the new governor. Due to the change in this repo rate ,the number of people of all those people have decreased by the loan EMI.
Eligibility for all home loans
RURAL
| RURAL | |
| Property | Income |
| Property shoud be Registerd in devlopment authority | Salaried like as Goverment salaried like/ private sector |
| Nagar nigam or RERA approved | Self employed |
| If the property is in Gram Panchayat | Proffesional businessman |
| then the tax receipt should be current available | |
Urban & Metro city
| Urban & Metro city | |
| Property | Income |
| Property shoud be Registerd in | Salaried like as Goverment |
| Nagar nigam or RERA approved | salaried like/ private sector |
| Maximus Hirise project builder | Self employed |
| Approve project by Deplopmenent Authority | proffesional businessman |
| devlopement authority NOIDA,HUDA,DDA,BDA- | |
| LDA,GDA, Etc. | |
CIBIL.
Before taking a loan, you have to take special care of your CIBIL score, otherwise many people’s files get rejected due to CIBIL. About cibil and check , Sbi need credit score is 750+
The important thing you have to keep in mind is that whatever property you are buying or building, you can first check the status of your property by visiting the official portal of SBI, which will help you a lot, we are putting a link to check the approved status of the property, you can check it easily.
To Check Approved property List Hele>> Click
Why Chose SBI Home loan ?.
There are many reasons to take a home loan from SBI,but you will need a lot of time to understand all the reasons,but don’t worry ,i am telling you in brief ways so that you will understand well.
First of all, you will get home loan in SBI ar a much cheaper price than the marcket,in this you are not charged any diffrent types of additional charges.while submitting your loan file to the bank ,you have to pay a nominal fee which is known as login fee, after that your home loan approval comes from bank and is also sanctioned, At the time of disbursement, Only an ammount of up to Rs.10,000 is diducted from your loan account. Apart from this there is no need to pay any separate expanse.
Compare to other bank SBI give you your loan in a very short time. with minimal paper work,while taking a loan and buying a house ,the bank employee keep guiding you from time to time .
SBI home loan Required Document’s.
- KYC (Adhar card, Pan Card, Passport size photo)
- Property Sale deed
- Land Tax Reciept
- If New proprty buy than required BBA(Builder buyer aggrement,Notry aggrement)
- Demand Letter
- Bank statement Last 6 month if you are salaried
- If self empolyed than required last 1 year bank statement
- Any other Running Loan SOA(Statement of loan account)
