SBI Home Loan Calculator: Rs 50 lakh for 20 years at 6.7% - This is will be your EMI | Check how to apply online, documents required and more

SBI Home Loans: India's largest lender, State Bank of India (SBI) says that it has helped over 30 lakh families to achieve the dream of owning a home. The bank says it offers home loan customised as per the requirement of individuals with home loans such as Regular Home Loan, SBI Privilege Home Loan for government employees, SBI Shaurya Home Loan for army and defense personnel, 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.

Features and benefits

- Low interest rates

-Zero processing charges

-No hidden or administrative charges

- Interest concession for women borrowers

- First-of-its kind credit score linked home loans

-No prepayment penalties

-Interest calculation on a daily reducing balance

-Home loan also available as an overdraft

Home Loan tenure – 3-30 years

Interest rate – SBI offers credit score linked home loans at just 6.70%, irrespective of the loan amount

SBI Home Loan calculator – This basic calculator will help you to calculate the EMI, monthly interest and monthly reducing balance on the basis of principal amount, loan tenure and interest rate. Customers can put in the desired home loan amount, number of years and interest rate (6.70%) to get their EMI figure.

https://homeloans.sbi/calculators

Illustration of EMI calculation for Home loan of Rs. 50 lakh for 20 years at 6.70% (For representation purpose only)

Apply online – 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-Microsit...

Avail home loan using YONO SBI - Step by step guide

-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

Documents required for availing the loan

·         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

Property Papers:

·         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

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

·         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 IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

·         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)