HOME LOAN Individual(s) over 18 years of age with steady source of income*, including persons engaged in agriculture & allied activities. Maximum Age 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, subject to availability of sufficient, regular and continuous source of income for servicing the loan repayment. Sanctioning authority is, however, left with discretion to sanction loans to individuals above the age of 70 years, provided son / daughter / spouse, who is a legal heir and preferably below the age of 50 years, with sufficient income for servicing the loan repayment, joins as co-borrower / guarantor. No. of Co-Borrowers: Restricted to maximum 3 including spouse/children/parents/siblings. However, AGM (Region)/AGM (Branch) can relax In cases where the co-applicants are unrelated to each other, the DGM ( B & O) may permit the relaxation LOAN TENOR Upto 30* years subject to liquidation of the Home Loan before the borrower reaches the age of 70 years.
For Home Loan Borrowers falling under Commercial Real Estate (CRE) and Individuals engaged in business maximum loan tenor will be 25 years. EMI/NMI Ratio NAI (in Lakhs) EMI/NMI Ratio <=1.20 20% >1.20 <=3.00 30% >=3.00, <= 6.00 50% >6.00, <= 10.00 60% >10.00 70% Margin: Loan amount House under construction House ready for possession Up to 75 lacs 20% 15% Above 75 lacs 25% 15% LTV Ratio: Home Loan
(LTV) Ratio for construction linked Amount (in disbursement lakhs) Home Under House Ready For Possession Construction Loan 90% 90% upto 20 Loan 80% 80% above 20 upto 75 Loan above 75 75% 75% Moratorium: for buildings up to 7 floors 18 Months > 7 and up to 14 floors 24 months > 14 and up to 21 floors 30 Months More than 21 floors 36 Months Mega/ Integrated Township - 48 Months PENAL INTEREST No penal interest should be charged for Home Loans
upto Rs.25,000/- For Home Loans above Rs.25000/-, if the irregularity exceeds EMI or Installment amount, for a period of one month, then penal interest should be recovered @ 2% p.a. (over and above the applicable interest rate) on the overdue amount for the period of default. If part installment or part EMI remains overdue, then penal interest should not be levied. NRI HOME LOANS Individual (s) over 18 years of age with a steady source of income who NRIs, with total work experience of 2 years in India or abroad, who have taken up jobs/professions/other economic activity abroad for better prospects NRIs with a job contract for a minimum period of 2 years abroad after completion of 6 months in the employment and presently holding a valid job contract /work permit. Minimum: Rs. 3.00 lacs Repayment: Maximum period of 30 years subject to the stipulation that the loan should be liquidated by the age of 60 years or by the age of retirement, whichever occurs earlier. SBI-MAXGAIN HOME LOAN AS AN OVERDRAFT
Eligibility: Both Existing / Prospective customers having minimum balance of Rs.5000/- in their SB/CA Loan Amount : Minimum Rs.5.00 Lacs, No upper limit add 0.25% interest for loans above Rs.1 Cr. A fee of Rs. 1000/ will be charged as processing fee for conversion of existing TL. SBI-TRIBAL PLUS HOME LOANS Home Loans to people residing in Hilly /Tribal areas No Mortgage of land Loans given against Third Party Guarantee Maximum loan Rs.10 lacs Maximum Loan tenure 15 years 21 years of age (but not more than 60 years) (1)maintain satisfactorily conducted deposit accounts with us with an average balance of Rs.5000/- for the last two years or (2) maintains loan accounts which are satisfactorily conducted for a minimum period of 2 years Loan Amount: For employees :36 times Net Monthly Income (NMI)
For professionals, businessmen and self employed, Agriculturist(based on activity) 2 times average Net Annual Income (NAI) for the last 3 years on the basis Income-Tax Returns, along with audited/certified profit and loss account and balance sheets, I.T.Challans. GRAM NIWAS the population of which does not exceed 50000 as per 2001 census. Maximum Loan amount : For construction/purchase of house:rs.5 lacs For repairs/renovation :Rs.2 lacs For purchase of land AGE :18 years to 50 years Repayment : 180 months : Rs.1 lac Margin : upto 50000 10 % 50k to 5 lac 15% Security : upto 50000 EM is waived. SAHAYOG NIWAS SHGs with a good track of payment record for 2 years. 10 times the savings of the corpus of SHG.
SHG will on lend to its members for housing subject to a maximum of Rs. 50,000/- per member for purchase / construction of house and Rs. 25,000/- for repairs / renovations / purchase of plot All handling charges such as processing fee, ledger folio fee etc are waived except legal scrutiny fee which should not exceed Rs. 200/- 15 years repayment. SBI Yuva Home Loan Salaried employees of reputed companies in private sector, MNCs, government undertakings, PSUs and Central / State Government employees having age of 21 years and above but not more than 45 years. Minimum NMI should be Rs. 30000/. Loan amount 20% extra i.e. 1.2 times the loan amount calculated as per the normal method. Loan tenor allowed upto 30 years First 36 months Only the interest applied during the month will be recovered. SBI REALTY Maximum Loan Amount Rs.10.00 cr. Maximum period for construction of house: 2 years from the date of availment of the loan.( IF NOT )(Interest rate as applicable to Personal Loan against
Mortgage of Immovable Property or 5.25% above the Base Rate, whichever is higher) Home Loan for purchase of Plot Loans above Rs.50 lacs require prior administrative clearance Repayable in a maximum of 180 months