OUR PRODUCTS

SBI Bridge Home Loan

Helps to upgrade your home.

SBI offers "SBI Bridge Home Loan" for all the home owners who aspire to upgrade their homes - to bigger homes or better locations, by selling off their existing homes. Many a times, such customers face short term liquidity mismatch on account of time lag between sale of existing property and purchase of new property. SBI Bridge Home Loan will help to mitigate this shortfall of funds, and customers can avoid distressed sale of their existing homes.

  • Features
  • Eligibility
  • Interest Rates & Fees
  • Documents Required
  • Low Interest Rates.
  • Low Processing Fee.
  • No Hidden Charges.
  • No Pre Payment Penalty.
  • Interest charges on Daily Reducing Balance.
  • Repayment up to 2 years.
  • Resident type: Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 70 years
  • Loan Tenure: up to 2 years.
  • Loan Amount: Minimum Rs. 20 lakhs and Maximum Rs. 2 crores
Tenure Effective Rate
First Year 10.45% p.a.
Second Year 11.45% p.a.

 

Fees

  • Processing Fee*
    1. 0.35% of the loan amount.
    2. Minimum: Rs. 2,000/-
    3. Maximum: Rs. 10,000/-

*Plus applicable taxes

  • Pre-sanction**
    1. Advocate's fee for property search and the title investigation report.
    2. Valuer's fee for valuation report.
  • Post-sanction**
    1. Stamp duty payable for Loan agreement & mortgage.
    2. Property insurance premium.
    3. CERSAI Registration Fee of Rs 50 + service tax up to Rs 5 lakh limit and Rs 100 +service tax for limits above Rs 5 lakh

** To be paid at actuals.

Click here to view old Interest Rates

List of papers/ documents applicable to all applicants:

  • Loan Application: Completed loan application form duly filled in and 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:

  • Bank A/c. Statement (Individual) for last six months
  • 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:

  • Current Salary Slip or Salary Certificate
  • 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 Co-applicant/ Guarantor:

  • 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)

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