The processing fees of State Bank of India (SBI) home loans are waived till March 31, 2018, said country’s largest lender on its Twitter handle @TheOfficialSBI. This means that those interested for SBI home loans can apply till March 31 and get 100 per cent waiver on processing fees. SBI is also offering attractive interest rates on home loans till March 31, the tweet further added. According to SBI’s portal- homeloans.sbi, the lender allows repayment of up to 30 years on home loans. Also interest concessions are available for women borrowers.
SBI’s home loans has successfully helped over 30 lakh families achieve their dream of owning a home, mentioned country’s largest lender on the website.
SBI’s interest rates on home loans may vary as per the risk score of the customer, said the lender on the website.
The minimum interest rate charged by SBI on its home loans is 8.35 per cent. This rate is applicable on loans up to Rs. 30 lakh to salaried women borrowers. For other salaried borrowers, SBI charges a rate of interest of 8.4 per cent for loans up to Rs. 30 lakh.
For non-salaried women borrowers, SBI charges a rate of interest of 8.45 per cent for loans up to Rs. 30 lakh. The interest rate charged by SBI on home loans for other non-salaried borrowers is 8.5 per cent, mentioned the lender on the website.
In order to avail SBI’s offer on home loans, the borrower must be an Indian resident.
The minimum age of a loan applicant should be 18 years while the maximum should be 70 years, mentioned country’s largest lender.
Under regular home loans, an applicant can get loan tenure of up to 30 years, noted SBI.
According to SBI, the home loans available have no pre-payment penalty.
For taking SBI home loans, customer must have an employer identity card, loan application, proof of identity, proof of residence, property papers, bank account statements of last 6 months, salary slip of last 3 months (only when the borrower is salaried).
A non-salaried borrower must have some income proof in order to take loan from the bank.