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SBI Home Loan to Non-Salaried – Differential offerings

Home Loans designed for Non-Salaried Individuals!

This product is specifically designed for Non-Salaried Individuals offering the best possible Home Loan value to customers. Home Loans for the purpose of construction / acquisition of residential house/flat, takeover of Home Loans from other Banks/HFCs and repair/renovation of existing house/flat.

  • Features
  • Eligibility
  • Interest Rates & Fees
  • Documents Required
  • Home Loan products to suit every customers need
  • Low Interest Rates
  • Low Processing Fee
  • No Hidden Charges
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Resident Type: Resident Indian
  • Wherever the applicant is Proprietor of a Proprietorship firm or is one of the partners in a Partnership Firm or is one of the Directors in a Company, the firm/Company :
    1. Should be in existence for at least last 3 years
    2. Must have earned Net Profit in the last two years
    3. Existing Credit Facilities, if any, should be Regular and Standard. Opinion Report in this regard will be obtained from the existing Bankers
    4. Wherever the proposed House Property is acquired in joint names of the Proprietor and the Proprietary Firm, the firm should be our existing borrower or a debt free entity.
  • Minimum Age: 18 years
  • Loan Tenure: up to 30 years.
  • Loan Amount: Minimum: Rs. 50,000/- & Maximum: Rs. 50 crores.
Click here to view the Interest Rates

Fees

  • Processing Fee*
    1. 0.35% of the loan amount plus service tax, Minimum of Rs. 2,000/- plus service tax and Maximum of Rs. 10,000/- plus service tax. Out of pocket expenses for obtention of TIR/Valuation Report/CERSAI Registration, etc. are recovered separately.

*Plus applicable taxes

  • 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 + GST up to Rs 5 Lakh limit; and Rs 100 + GST 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 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 Non-Salaried Applicant/ Co-applicant/ Guarantor :