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SBI Privilege Home Loan

Home Loan designed especially for Government Employees

SBI has launched SBI Privilege Home Loan exclusively for government employees. Individuals who are employees of Central or State Government which includes PSBs, PSUs of Central Government and other individuals with pensionable service are eligible to apply for this home loan. The loan amount will be determined by taking into consideration factors such as applicant income and repaying capacity, age, assets and liabilities, cost of proposed house/flat etc.

  • Features
  • Eligibility
  • Interest Rates & Fees
  • Documents Required
  • Low Interest Rates
  • Zero Processing Fee
  • No Hidden Charges
  • No Pre Payment Penalty
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Interest Concession for Women Borrowers
  • Interest Concession in case Check Off is provided
  • Resident Type: Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 75 years
  • Loan Tenure: up to 30 years.
  • Loan Amount: Click Here
Category
Home Loan (Term Loan)*
Above Rs.10 lakhs & Upto Rs.30 lakhs Above Rs.30 lakhs & Rs.75 Upto lakhs Above Rs.75 lakhs & Upto Rs.50 crores
With Check Off
Women
8.35% p.a 8.50-8.60% p.a 8.55-8.65% p.a
Others
8.35% p.a 8.50-8.60% p.a 8.55-8.65% p.a
Without Check Off
Women
8.35% p.a 8.50-8.60% p.a 8.55-8.65% p.a
Others
8.40% p.a 8.55-8.65% p.a 8.60-8.70% p.a

 

*Interest rate will vary as per the risk score of the customer

Fees

  • Processing Fee-Zero
  • Pre-sanction**
    1. Advocate's fee for property search and 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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