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State Bank of India
About

The State Bank of India, the country’s oldest Bank and a premier in terms of balance sheet size, number of branches, market capitalization and profits is today going through a momentous phase of Change and Transformation – the two hundred year old Public sector behemoth is today stirring out of its Public Sector legacy and moving with an agility to give the Private and Foreign Banks a run for their money.

 

The bank is entering into many new businesses with strategic tie ups – Pension Funds, General Insurance, Custodial Services, Private Equity, Mobile Banking, Point of Sale Merchant Acquisition, Advisory Services, structured products etc – each one of these initiatives having a huge potential for growth.

 

The Bank is forging ahead with cutting edge technology and innovative new banking models, to expand its Rural Banking base, looking at the vast untapped potential in the hinterland and proposes to cover 100,000 villages in the next two years.

 

It is also focusing at the top end of the market, on whole sale banking capabilities to provide India’s growing mid / large Corporate with a complete array of products and services. It is consolidating its global treasury operations and entering into structured products and derivative instruments. Today, the Bank is the largest provider of infrastructure debt and the largest arranger of external commercial borrowings in the country. It is the only Indian bank to feature in the Fortune 500 list.

 

 

 

Loan Amount,Interest Rates @ EMI
For Women
Fixed for 2 Years
Up to 30 Lakhs 8.50% EMI @ 868 for 20 Years
MCLR - Term Loan
Up to 75 Lakhs 8.60% EMI @ 875 for 20 years
Above 75 Lakhs 8.65% EMI @ 877 for 20 years
Max Gain
Up to 75 Lakhs 8.75% EMI @ 883 for 20 years
Above 75 Lakhs 8.95% EMI @ 896 for 20 years
For Others
Fixed for 2 Years
Up to 30 Lakhs 8.55% EMI @ 871 for 20 years
MCLR - Term Loan
Up to 75 Lakhs 8.65% EMI @ 877 for 20 years
Above 75 Lakhs 8.70% EMI @ 880 for 20 years
Max Gain
Up to 75 Lakhs 8.80% EMI @ 887 for 20 years
Above 75 Lakhs 9.00% EMI @ 900 for 20 years

Tenure
Min 1 Year - Max 20 Years.
Features

1. Provision for on the spot "In principle" approval.


2. Loan sanctioned within 6 days of submission of  required documents.


3. Option to avail Home Loan as a Term Loan or as an Overdraft facility to   save on interest and maximize gains.


4. Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount


5. Provision to finance cost of furnishing and consumer durables as part of project cost.


6. Repayment permitted up to 70 years of age.


7. Free personal accident insurance cover up to Rs.40 Lac.


8. Optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost).


9. Interest calculated on daily reducing balance basis, and starts from the date of disbursement.


10.  Option to avail loan at the place of employment or at the place of construction


11.  Processing Fee 0.25% of loan amount to a maximum of 20,000/- depending on loan amount.

 
Products
Knowing about the product will always make the home loan processing smooth to every customer. Before going for a home loan processing see which product suits you best.
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Home Loan Documents
To start with the home loan processing a customer need to submit the documents and this will vary depending on the product, bank and income source.
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Eligibility Calculators
One of the most important stages in home loan processing is the calculation of the applicants’ eligibility for the home loan. By taking one gross and net incomes into consideration.
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Application Tracking
Normally customers want to know their file status during the home loan process. But people face different types of situations where they wrongly...
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Home Loan Agreement
Normally customers want It is the Agreement which a customer need to sign before going for disbursement of the loan which he requested to the bank to fund...
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Draft Agreements
To complete the legal and technical process over a property which the customer is buying by taking the home loan need to have a sale...
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