Before Applying for SBI Home Loan: Read This

Before Applying for SBI Home Loan: Read This

Curious to avail a home loan but don’t know which lender offers the best deal? Well, if you are still in a dilemma, we are here to help. Yes, today, in this article, we are going to talk about SBI home loan, one of the leading names in the industry. Talking more about the same, it would not be wrong to say that this lender with its best of products and services caters the varied needs of one and all. So, let’s not waste any time further and come to the point straight by letting you know the key insights of the same.

There are various schemes which are being offered by this lender, so let’s know more about each of the scheme below.

Insta Top Up This facility is for existing customers of SBI home loan online who can get home loan top-up services online via official website. This entire process is done online such as loan processing and disbursement and settling of SI in savings account for the repayment of the EMI that will automatically be done by the system with no manual intervention is required. Take a look at the home loan eligibility required to avail this scheme:

● Existing home loan customers with a minimum loan limit of Rs.20 Lakh ● Minimum residential tenure of the home loan is 5 years ● Satisfactory track record of 3 years or more ● Get minimum Rs.1 Lakh and up to a maximum of Rs.5 Lakh ● Make sure that your cibil score should be 550 or high ● No other home top-up loan or insta home top-up loans should be active

Flexipay This specific scheme is for those salaried and working professionals/executives who want to apply for SBI home loan. If we talk more about the same, it would not be wrong to say that this scheme comes with certain eligibility norms. Let’s just take a look at them below: ● ● ● ●

Salaried applicants with minimum 2 years of experience Aged between 21-45 years Maximum repayment tenure of 25-30 years The scheme comes with a loan amount of up to Rs.20 Lakh or above

Maxgain

This scheme can be availed by you to get the loan amount of Rs.20 lakh or above. And, the best part is that there is no maximum limit available for obtaining the home loan under this particular scheme.

Realty This loan can be availed by you to purchase a plot so that you can start the construction of the house. The maximum loan amount offered by SBI home loan under this scheme is Rs.10 crore for a maximum tenure of 15 years.

Tribal Plus This scheme is especially for people living in hilly/tribal areas and are looking forward to purchase or construct a plot/home without mortgaging the land. The maximum home loan online amount offered by the lender is Rs.10 Lakh with a maximum repayment of 15 years.

Privilege You would be glad to know that employees of Central/ State Government including PSBs, PSUs and other individuals with pensionable service. Maximum tenure is 30 years along with a repayment age of up to 75 years.