How To Get State Bank Of India Home Loans
Many would like to know how to get State Bank of India (SBI) home loans after the bank has been awarded as “The Most Preferred Home Loan Provider” by the AWAAZ Consumer Awards. There are many benefits and advantages from getting a State Bank of India home loan program. You need to understand the various home loan scheme requirements before you enroll.
Things you'll need:
- SBI home loan application form
- Three passport-sized picture
- Valid ID
- Proof of residence
- Personal assets and liabilities statement
- Employment record or certificate
- There are three kinds of State Bank of India home loan programs you can apply for. These are the SBI Hi-Five Loan, SBI Easy Home Loan and the SBI Advantage Home Loan. The bank can grant a home loan of up to $5 million on various terms of payment. The interest rate is usually fixed on the first few months after which the borrower is given the option to set interest at a floating or fixed rate.
- In order to be eligible for applying for a home loan from State Bank of India, you need to meet the following requirements. The borrower must be at least eighteen years old and not more than 70 years of age at the time the loan will be fully paid. The amount a borrower can loan will depend on the capacity to pay with reference to the income of the borrower or combined income of the borrower and their spouse if married.
- Fill up the home loan form from the State Bank of India and submit the documents required to support the application. The SBI home loan application is also available for download online. Upon submission of the home loan form, the borrower is required to submit three passport-sized pictures, valid ID, proof of residence, passport, signature identification and personal assets and liabilities statement, certificate of employment and other pertinent documents that the bank may find necessary to process the home loan application. Guarantors will also be required to submit the same documents as above.