Quick Answer: What Are The Conditions For SBI Home Loan?

Which type of home loan is best?

Compare Best Home Loan Interest Rates, All Banks in India 2020BankHome Loan RateBenchmark TypeHDFC Home Loan Rates6.90%PLRCitibank Home Loan Rates6.75%TBLRBank of Baroda Home Loan Rates6.85%RLLRICICI Bank Home Loan Rates7.10%RLLR48 more rows.

What is the minimum salary required for home loan?

₹ 25,000 per monthHousing Loan Eligibility DetailsAge of the Applicant18 to 70 yearsEligible Salary₹ 25,000 per month and aboveWork Experience for Salaried3 years and aboveBusiness Stability for Self Employed5 years and aboveMinimum CIBIL Score6504 more rows

Which home loan is best SBI or HDFC?

Personal loan or Gold loan – Which is better?BanksInterest RatesSBI Home Loan6.95% – 7.45%HDFC Ltd Home Loan6.95% – 7.50%ICICI Bank Home Loan6.95% – 8.05%LIC Housing Home Loan6.90% – 7.30%5 more rows

How can I reduce my SBI home loan EMI?

To reduce your home loan EMI, the first thing you should do is to choose a lender which offers home loan at a lower rate of interest.Compare rates online. … Opt for longer repayment tenure on your loan. … Make a bigger down payment. … Refinance the loan by changing your lender. … Negotiate the service terms with existing lender.More items…•

What is current SBI home loan rate?

EBR 6.65%SMART HOME TOP UP LOANApplicable Interest RateSALARIEDNON-SALARIEDTERM LOANEBR + 140bps ER: 8.05%EBR + 190 bps ER: 8.55%OVERDRAFTEBR + 190 bps ER: 8.55%EBR + 240 bps ER: 9.05%

What is SBI term home loan?

SBI Housing Loan Interest Rate Current SBI Home loan interest rates for Dec 2020 starts at 6.95% p.a. for a maximum tenure of 30 years. Processing fee on its housing loans is Upto 0.20%, Minimum ₹ 4,000 and Maximum ₹ 17,400. SBI offers a special discount of 0.05% on interest rates for women borrowers.

Which SBI home loan is better?

SBI Home loan interest rate starts from 8.35%, which is one of the best rates available in the market….Interest Rate.Loan AmountSBI Home Loan FloatingRate for Female BorrowerUp to Rs. 30 Lakh8.40%8.35%Rs. 30 Lakh – 75 Lakh8.55%8.50%Above Rs. 75 Lakh8.65%8.60%Sep 9, 2020

How can I check my SBI home loan eligibility?

SBI Smart Home Top Up Loan EligibilityResident Type: Resident Indian & NRI.Minimum Age: 18 years.Maximum Age: 70 years.CIBIL Score: 550 or above.Satisfactory repayment track record of 1 year or more, after completion of moratorium.No other Home Top-up or Insta Home Top-up loans should be active.

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 16 Lakh₹ 14,159₹ 12,166₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,8111 more row

Is SBI good for home loan?

SBI is a large public sector bank with the lowest home loan percent rate in India. Currently, the bank offers home loans at an interest rate beginning from 6.95% and charges a low processing fee starting from Upto 0.20%, Minimum ₹ 4,000 and Maximum ₹ 17,400. The floating rate home loan from SBI is a RLLR linked loan.

What is the condition for home loan?

Typically, a bank assumes that about 50% of your monthly disposable/surplus income is available for repayment. The tenure and interest rate will also determine the loan amount. Further, the banks generally fix an upper age limit for home loan applicants, which could impact one’s eligibility.

What are documents required for SBI home loan?

List of Documents Required for SBI Home Loan Balance TransferEmployer Identity Card.Duly filled SBI Home Loan Application Form affixed with 3 passport size photographs.Proof of Identity (Any one): Aadhaar /PAN Card/ Passport/ Driver’s License/ Voter ID Card.More items…•