Construct a new house/flat (Including Furnishings / consumer durables as part of the project cost).
Purchase readymade house / flat (Including Furnishings / consumer durables as part of the project cost).
Repairs or renovation of an existing house / flat.
Takeover of Home Loans availed by an individual borrower from other banks / financial institutions (other than SBI).
Re-imbursement of investment made from own resources during the preceding twelve months for purchase /construction /repairs /extension of house ...
Age : Individual(s) over 18 years of age with steady source of Income including persons engaged in agriculture & allied activities.
CIBIL Score: should not be less than 700.
Salaried Class:
Form-16 or ITR for last two years.
Last 6 months Salary slips/ Salary Certificate
Non - Salaried Class:
I.T. Returns for last three years
Regular source of income to meet the monthly repayment obligation will be considered.
For Businessman*: Debit and credit summations in the Bank account should be minimum 50% of the purchases / sales reflected in P&L account, provided they are not having GSTN
For Agriculturist:
Income Certificate based on the nature of the activity (e.g. farming, dairy, poultry, orchards, etc.), land holding, cropping pattern, yield etc. from the competent authority
Note: Income of spouse / children / parents / siblings:
If the proposed property is held jointly with the spouse / children / parents / siblings then all the joint holders of the property should join as co-borrower, but in cases where the property is held in single name of the borrower the spouse / children/ parents/ siblings may join as co-borrower or as guarantors.
Co-borrowers (where co borrower income is considered for loan eligibility) should be employed/engaged in business/ profession etc. for a minimum period of one year and has a steady source of income evidenced by salary certificate, Form 16 or Income Tax Return
Interest rate starts from 8.65%* P A * Housing loan interest rates subject to revision from time to time.
The loan will be secured by Equitable/Registered Mortgage/extension of mortgage of the land and building /flat for which the loan is to be sanctioned.
Construct a new house/flat (Including Furnishings / consumer durables as part of the project cost).
Purchase readymade house / flat (Including Furnishings / consumer durables as part of the project cost).
Repairs or renovation of an existing house / flat.
Takeover of Home Loans availed by an individual borrower from other banks / financial institutions (other than SBI).
Re-imbursement of investment made from own resources during the preceding twelve months for purchase /construction /repairs /extension of house ...
Age : Individual(s) over 18 years of age with steady source of Income including persons engaged in agriculture & allied activities.
CIBIL Score: should not be less than 700.
Salaried Class:
Form-16 or ITR for last two years.
Last 6 months Salary slips/ Salary Certificate
Non - Salaried Class:
I.T. Returns for last three years
Regular source of income to meet the monthly repayment obligation will be considered.
For Businessman*: Debit and credit summations in the Bank account should be minimum 50% of the purchases / sales reflected in P&L account, provided they are not having GSTN
For Agriculturist:
Income Certificate based on the nature of the activity (e.g. farming, dairy, poultry, orchards, etc.), land holding, cropping pattern, yield etc. from the competent authority
Note: Income of spouse / children / parents / siblings:
If the proposed property is held jointly with the spouse / children / parents / siblings then all the joint holders of the property should join as co-borrower, but in cases where the property is held in single name of the borrower the spouse / children/ parents/ siblings may join as co-borrower or as guarantors.
Co-borrowers (where co borrower income is considered for loan eligibility) should be employed/engaged in business/ profession etc. for a minimum period of one year and has a steady source of income evidenced by salary certificate, Form 16 or Income Tax Return
Interest rate starts from 8.65%* P A * Housing loan interest rates subject to revision from time to time.
Net Annual Income-wise graded ratio is as under:
Net Annual Income(Salaried and non salaried)
EMI/NMI Ratio
>Rs1.20L & ≤ Rs3L
30%
>Rs3L & ≤ Rs5L
55%
>Rs5L & ≤ Rs8L
60%
>Rs8L
65%
NMI=Gross Monthly Income - Statutory deductions*
For Documents Required -
direct link to service charges
The loan will be secured by Equitable/Registered Mortgage/extension of mortgage of the land and building /flat for which the loan is to be sanctioned.
