SBI Property Loan BY RAVI ON 26. MAR, 2011 IN INFORMATION A dream come true!

An ALL PURPOSE LOAN for anything that life throws up at you!! Do you need funds for a Marriage ceremony, want to take your family to a well-deserved holiday or for a sudden medical emergency? you have some property, but would rather not sell it? Then why not avail of this ALL PURPOSE LOAN from SBI? SBI now makes it very much possible for you to only keep your property but also have liquid funds.
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Enjoy the SBI Advantage Complete transparency in operations Access this loan from our wide network of branches Interest rates are levied on a monthly/daily reducing balance method Lowest processing charges. Long repayment period of 60 months, upto 120 months for salaried individuals with check-off facility No Hidden costs or administrative charges. No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden. Property Loan Scheme Avail of an All-Purpose loan against mortgage of any of your property. We offer you these loans at all our Personal Banking Branches and those branches having Personal Banking Divisions amongst others. Purpose This is an all purpose loan, i.e., the loan can be obtained for any purpose whatsoever.If amount of loan is Rs.25.00 lacs and above then purpose of loan will have to be specified alongwith an undertaking that loan will not be used for any speculative purpose whatever including speculation on real estate and equity shares. Loan Amount Minimum: Rs.25,000/Maximum : Rs.1 crore. The amount is decided by the following calculation:

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24 times the net monthly income of salaried persons (Net of all deductions including TDS) OR 2 times the net annual income of others (income as per latest IT return less taxes payable) Repayment

Maximum of 60 equated monthly installments, up to 120 months for salaried individuals with check-off facility. You could opt to divert any surplus funds towards prepayment of the loan without attracting any penalty. SBI Housing Loan Advantages BY RAVI ON 24. DEC, 2010 IN HOUSING LOANS SBI Housing Loan is the best housing loan scheme that is available right now in in india. The SBI offers lots of advantages for their home loan borrowers, Following are few of the Advantages of SBI Housing Loan. 1) Lower Interest Rates: The SBI housing loan interest rates are very low when compared to others, Further the SBI charges interest on daily reducing balance. 2) Simple Process: The process of getting the housing loan from SBI is very simple, One can go to their nearest SBI Branch office nor visit SBI official site to get the loan. 3) Quick Approval: The SBI approves the home loan applications very quickly if applied correctly with all required documents. 4) 24 Hours Support: The SBI provides 24 hours online and also offline support for the housing loan borrowers. SBI Personal Loan Review BY RAVI ON 29. OCT, 2010 IN PERSONAL LOANS, REVIEWS SBI is one among the best personal loan providers in india, Right now the SBI is offering personal loans for all the people in india under two different schemes. All the employed and selfemployed persons are eligible to get personal loan from SBI under these schemes. Following are the two different personal loan schemes that SBI offering for indian people: 1. SBI Saral Personal Loan 2. SBI Xpress Credit Personal Loan Both the SBI personal loan schemes are fully loaded with attractive features and also many benefits, No other bank in india is providing such a features and benefits for the personal loan borrowers.
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Low interest rates. Further, They charge interest on a daily reducing balance!! Low processing charges; only 2%-3% of loan amount

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No hidden costs or administrative charges. No security required. No prepayment penalties. Loan applying process is very simple and loan approval is very fast, The SBI personal loan borrowers are having different repayment options so they can choose the one that suits them.

Features SBI Home Loan Features Some of the unique features of SBI home loansare:

Provision for on the spot "In principle" approval. Loan sanctioned within 6 days of submission of required documents. Option to avail Home Loan as a Term Loan or as an Overdraft facility to save on interest and maximise gains (see SBI MaxGain in the following sections) Option to club income of your spouse and children to compute eligible loan amount Provision to club depreciation, expected rent accruals from property proposed to compute eligible loan amount Provision to finance cost of furnishing and consumer durables as part of project cost Repayment permitted upto 70 years of age Free personal accident insurance cover Optional Group Insurance from SBI Life at concessional premium (Upfront premium financed as part of project cost) Interest calculated on daily reducing balance basis, and starts from the date of disbursement. Plus schemes which offer attractive packages with concessional interest rates to Govt. Employees, Teachers, Employees in Public Sector Oil Companies. Special scheme to grant loans to finance Earnest Money Deposits to be paid to Urban Development Authority/ Housing Board, etc. in respect of allotment of sites/ house/ flat Option to avail loan at the place of employment or at the place of construction Eligibility Eligibility SBI home loans are available for purchase or construction of house or flat; purchase of a plot of land for construction of house; extension, repair, renovation, alteration of an existing house or flat; purchase of furnishings and consumer durables as a part of the project cost, takeover of an existing loan from other banks or housing finance companies. Age: Minimum age of applicant is 18 years as on the date of sanction and maximum age limit for a home loan borrower is 70 years, i.e. the age by which the loan should be fully repaid. Loan Amount

Loan Amount Applicants aged between 18 and 45 years, can get 60 times Net Monthly Income (NMI) or 5 times Net Annual Income (NAI) and for applicants aged over 45 years of age, it is 48 times NMI or 4 times NAI. This will be subject to a maximum EMI/NMI ratio as under: Net Annual Income Upto Rs.2 lacs Above Rs.2 lac to Rs. 5 lacs EMI/NMI Ratio 40% 50%

Above Rs. 5 lacs 55% Margin Margin The SBI home loan borrower should pay 20% of the cost of home for loans up to Rs 1 crore and 25% for loans above Rs 1 crore. Repayment Period Repayment Period The maximum repayment period for home loan is 20 years for applicants below 45 years and 15 years for applicant above 45 years. Documents Required Documents Required 1. 2. 3. 4. 5. 6. Completed application form Passport size photograph Proof of Identity PAN Card/ Voters ID/ Passport/ Driving License Proof of Residence Recent Telephone Bill/ Electricity Bill/ Property tax receipt/ Passport/ Voters ID Proof of business address in respect of businessmen/ industrialists Sale Deed, Agreement of Sale, Letter of Allotment, Non encumbrance certificate, Land/ Building Tax paid receipt etc. (as applicable and subject to satisfaction report from our empanelled lawyer) Copy of approved plan and approval from the Local Body Statement of Bank Account/ Pass Book for last 6 months

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