SBI Reverse Mortgage Loan provides an additional source of income for senior citizens of India, who have a self-acquired or self-occupied home in India. This product is beneficial for senior citizens who do not have adequate income to support themselves. The Bank makes payments to the borrower /borrowers (in case of living spouse), against mortgage of his / their residential house property. The borrower is not expected to service the loan during his lifetime.
|Category||Above Rs. 3 lakhs & Upto Rs. 1 crore|
|Women and Others||11.00 % p.a.|
|SBI Pensioners||10.00 % p.a.|
*Plus applicable taxes
** To be paid at actuals.
List of papers/ documents applicable to all applicants:
Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor: