CAREER LOAN
Do you want to opt for training to acquire skills needed to join Commercial Pilot training courses or Airhostess Training courses in India and abroad, from institutes recognized by the Ministry of Civil Aviation/DGCA, then you can avail SBI Career Loan from our Bank.
We have a loan scheme for this purpose, in the form of Personal Loan secured by Mortgage of Immovable Property/Govt.Securities, Public Sector Bonds,NSCs/KVPs/RBI Relief Bonds/Bank’s TDR/LIC Policies etc.
Name of the Scheme : SBI Career Loan
Eligibility :
You are eligible if you are willing to undertake a course for joining Commercial Pilot training coursesand Airhostess Training courses in India and abroad from institutes recognized by the Ministry of Civil Aviation/DGCA.
Age :
(i) Applicant – Minimum 18 years
(ii) Co-borrower – Maximum 60 years
Quantum of loan :
Maximum of Rs.20.00 lacs
Nature of facility :
Term Loans with the applicant and parent/guardian/spouse as co-borrowers
Repayment :
36 months in Equated Monthly Instalments with maximum moratorium one year after completion of the course for start of repayment. No penal charges would be levied in case of early repayment of loan.
Processing fee : 0.50% of the loan amount
Margin
Type of Security : Land/Building Margin :20%
Type of Security : Govt.Securities/Public Sector Bonds, NSCs, KVPs,Bank’s Deposits, RBI Relief Bonds etc. Margin : 10% on the Face value of the Security.
Type of Security : LIC Policies Margin: 10% margin on Surrender value of LIC Policies
Interest :
Type of Security : Land/Building Rate of Interest :0.25% above SBAR i.e. 13.25% p.a..
Type of Security : Bank’s TDRs/STDRs Rate of Interest : 1.00% above the rate of interest payable on deposits.
Type of Security :Govt.Securities/Public Sector Bonds/NSCs/ KVPs/RBI Relief Bonds,LIC Policy Rate of Interest : SBAR – 13.00% p.a.
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Wednesday, November 19, 2008
SBI - Rent Plus
RENT PLUS
Name of scheme : Rent Plus
Nature of facility :Term Loan
Period of repayment:
7 years or the residual lease period, whichever is lower.
Eligible customer:
Owners of residential buildings and commercial properties in Rural/Semi-urban/Urban/Metro areas which are to be rented or already rented to MNCs/ Banks/ Large & medium size corporate.
Purpose: To meet liquidity mis-match of the applicants.
Quantum of finance
Min. Rs. 50,000.00
Max. Rs. 5 crore for properties located at Non-Metro Centres and Rs. 7.50 crores for properties located at Metro Centres. There will be no differentiation on the basis of constitution of the applicant.
Margin :40%
Repayment: Equated Monthly Installments of 7 years or residual lease period.
Prepayment : 1% of the loan amount prepaid.
Interest :
1.00% above SBAR. i.e.14.00% p.a. for loans upto Rs.7.50 crores in Metro centres and upto Rs.5.00 crores in non-metro centres Floating, In other cases 1.25% above SBAR i.e.14.25% p.a. Floating.
Primary Security :
Assignment of receivables and recording of power attorney with the lessee is a must.
Collateral Security:
i) First charge on buildings against the rentals of which the loan would be sanctioned (value of the property should be double the amount of loan) or any other acceptable property of equal value.
ii) Equitable Mortgage of immovable property by deposit of titledeed.
iii) In case of partnership firm, personal guarantee of the partners of the building. In case of company personal guarantee of directors to be obtained.
Insurance :The amount of insurance should cover the value of assets charged to the Bank.
Applicability :Metro / Urban / Semi-urban/ Rural centers.
Processing charges and cost of valuation
2% of loan amount, subject to a maximum amount of Rs.1,00,000/=, to be paid upfront as processing charges. The charges for valuation of the property are to be borne by the applicant.
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Name of scheme : Rent Plus
Nature of facility :Term Loan
Period of repayment:
7 years or the residual lease period, whichever is lower.
Eligible customer:
Owners of residential buildings and commercial properties in Rural/Semi-urban/Urban/Metro areas which are to be rented or already rented to MNCs/ Banks/ Large & medium size corporate.
Purpose: To meet liquidity mis-match of the applicants.
Quantum of finance
Min. Rs. 50,000.00
Max. Rs. 5 crore for properties located at Non-Metro Centres and Rs. 7.50 crores for properties located at Metro Centres. There will be no differentiation on the basis of constitution of the applicant.
Margin :40%
Repayment: Equated Monthly Installments of 7 years or residual lease period.
Prepayment : 1% of the loan amount prepaid.
Interest :
1.00% above SBAR. i.e.14.00% p.a. for loans upto Rs.7.50 crores in Metro centres and upto Rs.5.00 crores in non-metro centres Floating, In other cases 1.25% above SBAR i.e.14.25% p.a. Floating.
Primary Security :
Assignment of receivables and recording of power attorney with the lessee is a must.
Collateral Security:
i) First charge on buildings against the rentals of which the loan would be sanctioned (value of the property should be double the amount of loan) or any other acceptable property of equal value.
ii) Equitable Mortgage of immovable property by deposit of titledeed.
iii) In case of partnership firm, personal guarantee of the partners of the building. In case of company personal guarantee of directors to be obtained.
Insurance :The amount of insurance should cover the value of assets charged to the Bank.
Applicability :Metro / Urban / Semi-urban/ Rural centers.
Processing charges and cost of valuation
2% of loan amount, subject to a maximum amount of Rs.1,00,000/=, to be paid upfront as processing charges. The charges for valuation of the property are to be borne by the applicant.
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SBI - Credit Khazana
CREDIT KHAZANA :
The "SBI Credit Khazana" Scheme offers Housing Loan customers, concessions in interest rates and margins when they subsequently avail of any of the following loans:
Car Loan, Scoom, Education Loan, Personal Loan, Tractor Loan.
Eligibility:
Housing Loan customers who have serviced the loan regularly for at least one year and where Equitable Mortgage has been created.
Concession in Interest
There will be a concession of 0.25% in interest when any of the above mentioned loans are availed.
Concession in Margin
There will be a concession of 10% in case of Car Loan and 5% in case of Tractor Loan. Under the SCOOM Scheme, the margin has been maintained at 5%.
Security
The security required to be taken under the individual schemes would be taken and additionally, the Equitable Mortgage taken for the Housing Loan would be extended to cover the new loan(s).
Insurance
Free accident insurance cover (to cover death only) is available in case of Car Loan.
Other terms & Conditions:
Other terms & conditions like Amount of Loan, Repayment, Documentation will be the same as those laid down for the individual schemes.
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The "SBI Credit Khazana" Scheme offers Housing Loan customers, concessions in interest rates and margins when they subsequently avail of any of the following loans:
Car Loan, Scoom, Education Loan, Personal Loan, Tractor Loan.
Eligibility:
Housing Loan customers who have serviced the loan regularly for at least one year and where Equitable Mortgage has been created.
Concession in Interest
There will be a concession of 0.25% in interest when any of the above mentioned loans are availed.
Concession in Margin
There will be a concession of 10% in case of Car Loan and 5% in case of Tractor Loan. Under the SCOOM Scheme, the margin has been maintained at 5%.
Security
The security required to be taken under the individual schemes would be taken and additionally, the Equitable Mortgage taken for the Housing Loan would be extended to cover the new loan(s).
Insurance
Free accident insurance cover (to cover death only) is available in case of Car Loan.
Other terms & Conditions:
Other terms & conditions like Amount of Loan, Repayment, Documentation will be the same as those laid down for the individual schemes.
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SBI - Tribal Plus Scheme
TRIBAL-PLUS SCHEME
The scheme is a special Housing finance scheme for Hill/ Tribal areas of North East India and areas around Chandigarh, Bhopal, Lucknow, Patna and Bhubaneswar.
Enjoy the SBI advantage :
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount - compare with 1-3% of others.
* No hidden costs or administrative charges..
* No security required - which means minimal documentation…something that you had always wanted.
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
THE SCHEME:
The Tribal Plus is a special to provide housing finance for Hill/Tribal areas without mortgage of land.
Loans will be granted to individuals to:
* Purchase or construct a new house or flat.
* Purchase an existing house or flat (old) that is not more than 10 years old.
* Repair or extend or renovate an existing house or flat.
Eligibility :
* Individual(s) over 21 years of age (but not more than 60 years) who are permanent employees of Central or State Government or Public Sector undertakings (PSU) or reputed private sector units and have put in a minimum of 5 years service as Class I or Gazetted Officers or 10 years for other grades.
* Check-off facility should be available.
* This scheme is open to tribals hailing from the hill states of North East India and areas around Chandigarh, Bhopal, Lucknow, Patna, and Bhubaneswar. They can avail this scheme from SBI branches in these areas.
* If they are not currently living in these areas, they can still avail of the scheme for a housing loan to be used at their native village!
Salient Features
Loan Amount :
The maximum loan amount will be calculated on the basis of 24 times the net monthly income (NMI) of the applicant subject to a maximum of Rs.5.0 lacs. The income of the spouse can also be considered for this purpose provided he/she is a permanent employee of Government / PSU / Private Sector unit and is willing to guarantee the loan.
Documents Required :
In addition to the usual documents, under noted documents or papers will also be obtained:
Affidavit sworn by the applicant that he/she is the owner of the plot of land.
Post-dated cheques representing monthly installments may also be taken till the loan is liquidated.
In specific cases, an agreement to mortgage the land may also be required.
Margin :A minimum margin of 25% is envisaged.
Disbursement :
Disbursements will be made in a phased manner in tune with the actual progress in the construction. However, in case of outright purchase of house, there could be a one-time disbursement of the loan amount.
Repayment Schedule :
The loan is to be repaid over a period of 10 years through Equated Monthly Installments. The repayment period will include the moratorium or repayment holiday, at the option of the beneficiary, covering the construction period or 12 months from disbursement of the first instalment of the loan, whichever is earlier.
As with all our schemes there is no prepayment penalty whatsoever!
Security : As per bank's extant instructions.
Processing Fee : 0.25% of the loan amount.
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The scheme is a special Housing finance scheme for Hill/ Tribal areas of North East India and areas around Chandigarh, Bhopal, Lucknow, Patna and Bhubaneswar.
Enjoy the SBI advantage :
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount - compare with 1-3% of others.
* No hidden costs or administrative charges..
* No security required - which means minimal documentation…something that you had always wanted.
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
THE SCHEME:
The Tribal Plus is a special to provide housing finance for Hill/Tribal areas without mortgage of land.
Loans will be granted to individuals to:
* Purchase or construct a new house or flat.
* Purchase an existing house or flat (old) that is not more than 10 years old.
* Repair or extend or renovate an existing house or flat.
Eligibility :
* Individual(s) over 21 years of age (but not more than 60 years) who are permanent employees of Central or State Government or Public Sector undertakings (PSU) or reputed private sector units and have put in a minimum of 5 years service as Class I or Gazetted Officers or 10 years for other grades.
* Check-off facility should be available.
* This scheme is open to tribals hailing from the hill states of North East India and areas around Chandigarh, Bhopal, Lucknow, Patna, and Bhubaneswar. They can avail this scheme from SBI branches in these areas.
* If they are not currently living in these areas, they can still avail of the scheme for a housing loan to be used at their native village!
Salient Features
Loan Amount :
The maximum loan amount will be calculated on the basis of 24 times the net monthly income (NMI) of the applicant subject to a maximum of Rs.5.0 lacs. The income of the spouse can also be considered for this purpose provided he/she is a permanent employee of Government / PSU / Private Sector unit and is willing to guarantee the loan.
Documents Required :
In addition to the usual documents, under noted documents or papers will also be obtained:
Affidavit sworn by the applicant that he/she is the owner of the plot of land.
Post-dated cheques representing monthly installments may also be taken till the loan is liquidated.
In specific cases, an agreement to mortgage the land may also be required.
Margin :A minimum margin of 25% is envisaged.
Disbursement :
Disbursements will be made in a phased manner in tune with the actual progress in the construction. However, in case of outright purchase of house, there could be a one-time disbursement of the loan amount.
Repayment Schedule :
The loan is to be repaid over a period of 10 years through Equated Monthly Installments. The repayment period will include the moratorium or repayment holiday, at the option of the beneficiary, covering the construction period or 12 months from disbursement of the first instalment of the loan, whichever is earlier.
As with all our schemes there is no prepayment penalty whatsoever!
Security : As per bank's extant instructions.
Processing Fee : 0.25% of the loan amount.
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SBI - Sainik Plus Scheme
SAINIK-PLUS SCHEME
"They give their lives so that others might live "
Loans under Sainik Plus may now be covered under Prashasan Plus.
For all those who are ready to lay down their lives for their motherland, SBI is proud to offer Sainik Plus with special discounts on processing fees, interest rates and margin amounts on various finance schemes. This is available for all Non Commissioned Officers (NCOs) and Jawans of Indian Army .
Enjoy the SBI advantage :
* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
*Lowest processing charges; only 1% of loan amount - compare with 1-3% of others.
*No hidden costs or administrative charges..
*No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.
The Scheme :
Through Sainik Plus, you can avail of concessions in the rates of interest, processing charges and margin amounts in the following schemes :
* Personal Loan
* Festival Loan
* Housing Loan
Eligibility :
This scheme is open for all NCOs and Jawans of the Indian Army.
Documents Required :
To avail of loans under the Sainik Plus scheme - you will need to submit the following :
* Certificate from the CO confirming your salary and identity.
* Photocopy of your identity card along with the loan documents.
* Undertaking from the CO to remit your salary every month with SBI.
*In case your unit is subject to frequent movement/transfer, a third person guarantee either from a person in the same unit or one of their relatives residing at that place.
"They give their lives so that others might live "
Loans under Sainik Plus may now be covered under Prashasan Plus.
For all those who are ready to lay down their lives for their motherland, SBI is proud to offer Sainik Plus with special discounts on processing fees, interest rates and margin amounts on various finance schemes. This is available for all Non Commissioned Officers (NCOs) and Jawans of Indian Army .
Enjoy the SBI advantage :
* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
*Lowest processing charges; only 1% of loan amount - compare with 1-3% of others.
*No hidden costs or administrative charges..
*No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.
The Scheme :
Through Sainik Plus, you can avail of concessions in the rates of interest, processing charges and margin amounts in the following schemes :
* Personal Loan
* Festival Loan
* Housing Loan
Eligibility :
This scheme is open for all NCOs and Jawans of the Indian Army.
Documents Required :
To avail of loans under the Sainik Plus scheme - you will need to submit the following :
* Certificate from the CO confirming your salary and identity.
* Photocopy of your identity card along with the loan documents.
* Undertaking from the CO to remit your salary every month with SBI.
*In case your unit is subject to frequent movement/transfer, a third person guarantee either from a person in the same unit or one of their relatives residing at that place.
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SBI - Teachers Plus Scheme
TEACHERS-PLUS SCHEME
"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires."
William Arthur Ward
Enjoy the SBI advantage :
* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount - compare with 1-3% of others.
* No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.
The Scheme:
SBI recognizes the special position sanctioned for teachers in our society and is proud to introduce Teacher Plus - a special scheme for teachers placed under State and Central Governments as also under the deemed universities. Through Teacher Plus, you can avail of concessions in the rates of interest, processing charges and margin amounts in the following schemes :
* Personal Loan
* Car Loan
* Festival Loan
* Housing Loan
Eligibility :
This scheme is open for all teachers placed under State and Central Governments as also under the deemed universities.
Documents Required :
As applicable to Personal loan, Car loan, Festival loan and Housing loan schemes.
This information is brought to you by Harmony Infotech.
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"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires."
William Arthur Ward
Enjoy the SBI advantage :
* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount - compare with 1-3% of others.
* No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.
The Scheme:
SBI recognizes the special position sanctioned for teachers in our society and is proud to introduce Teacher Plus - a special scheme for teachers placed under State and Central Governments as also under the deemed universities. Through Teacher Plus, you can avail of concessions in the rates of interest, processing charges and margin amounts in the following schemes :
* Personal Loan
* Car Loan
* Festival Loan
* Housing Loan
Eligibility :
This scheme is open for all teachers placed under State and Central Governments as also under the deemed universities.
Documents Required :
As applicable to Personal loan, Car loan, Festival loan and Housing loan schemes.
This information is brought to you by Harmony Infotech.
Contact us if you are looking for a School Website.
SBI - Medi Plus Scheme
MEDI-PLUS SCHEME
For spreading smiles and cheers on the faces of our customers…, we've launched a new loan scheme keeping specialized medical treatments in mind - a scheme that we call Medi Plus!
Enjoy the SBI advantage :
* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount -(compare with 1-3% of others.)
* No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.
The Scheme :
The Specialised Medical Treatments, not only do the cost implications run into several lakhs of rupees, but more often than not, these liquid funds also need to be generated at a very short notice, in order to be able to make prompt hospital bill payments… With this in mind, Medi Plus is specially designed to make life simpler for you under what could well be trying circumstances.
You may avail of loans under the Medi Plus Scheme to cover the cost of treatments such as:
* Corneal Implant
* Orthodontic Treatment (fixed tooth implant)
* Ilazirav Technique of lengthening a limb
* Congenital heart surgery
* Angioplasty
* Heart Valve Replacement Surgery
* GIFT (in-vitro technique for child bearing)
* Serious Accidents and Multiple Injuries Surgery
* Hip and Knee Replacement Surgery
* Coronary Artery Bypass/ Graft Surgery
* Cochlear Implants (surgical) for the hearing impaired
* Onco-Surgery upto Grade I
* Reconstructive Nose Surgery with Face Lifting
* Penile Implant Surgery
* Artificial Limb Prosthesis
Purpose :
Loan for individuals to avail specialised expensive medical treatment e.g. coronary by-pass, Hip and Knee replacement surgery, cochlear implants(surgical) for the hearing impaired etc.
Eligibility :
You qualify to avail of loans under this scheme, if you are:
* An employee of the Government/ a reputed PSU/ a profit making public limited company, and if you have a minimum, 10 years of service
* A self-employed professional
* A pensioner, who has taken voluntary retirement and is not yet 60 years old
* An agent of Insurance/ KVP/ Mutual Funds etc. with a minimum annual income of Rs.3 lakh
*An employee/ a pensioner with a minimum income of Rs.10,000 per month or if you are a neither, a minimum income of Rs. 3 lakhs per annum.
Note : If the person being treated is a minor, the loan may be granted to a parent.
Loan Amount :
The loan amounts range from a minimum of Rs.50,000/- to a maximum of 12 months NMI (when it concerns salaried individuals and pensioners) or a 1 year net annual income (when it comes to persons other than salaried individuals and pensioners), subject, to the following ceilings:
* For Employees and Professionals : Rs.2.0 lacs
* For Pensioners and Agents : Rs.1.0 lac
Once sanctioned,the loan is disbursed by the issuance of a draft/ banker's cheque, favouring the hospital, where the treatment is being undertaken or where it's proposed to be undertaken.
Margin :
20% of the total cost of treatment.
Security :
As per bank's extant instructions.
Repayment Period :
You may comfortably repay your loan over a maximum - 60 Equated Monthly Installments.
Interest :
0.75% above SBAR i.e.14.50% p.a.
Processing Fee (One time)
0.50% of the loan amount.
Documentation :
Please contact the Bank for details.
Authorised branches We are pleased to inform you that currently, The Medi Plus Scheme is being offered at:
* All computerized SBI branches in identified cities
* All SBI branches, in metro/ urban centers, having "P" divisions
* All SBI Personal Banking Branches
Processing Fee : 0.50% of the entire loan amount, If the applicant already maintain a regular Housing Loan Account with us the processing fee is waived.
List of Diseases
* Corneal implant
* Orthodontic treatment - fixed tooth implant
* Ilazirav technique of lengthening a limb
* Angioplasty
* Congenital heart surgery
* Heart Valve replacement surgery
* GIFT - In-vitro technique for child bearing
* Serious accidents and multiple injuries surgery
* Coronary artery bypass graft surgery
* Hip and knee replacement surgery
* Cochlear implants (surgical) for the hearing impaired
* Onco - surgery upto Grade I
* Reconstructive nose surgery with facelifting
* Penile implant surgery
* Artificial limb prosthesis
* Laser assisted hatching
* Intra Cylasmic sperms injection
This information is brought to you by Harmony Infotech.
Contact us if you are looking for a Health website.
For spreading smiles and cheers on the faces of our customers…, we've launched a new loan scheme keeping specialized medical treatments in mind - a scheme that we call Medi Plus!
Enjoy the SBI advantage :
* Concessions in margin amounts, interest rates and processing charges!!
* Lowest interest rates. Further, we charge interest on a daily reducing balance!!
* Lowest processing charges; only 1% of loan amount -(compare with 1-3% of others.)
* No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
* Flexible repayment period.
The Scheme :
The Specialised Medical Treatments, not only do the cost implications run into several lakhs of rupees, but more often than not, these liquid funds also need to be generated at a very short notice, in order to be able to make prompt hospital bill payments… With this in mind, Medi Plus is specially designed to make life simpler for you under what could well be trying circumstances.
You may avail of loans under the Medi Plus Scheme to cover the cost of treatments such as:
* Corneal Implant
* Orthodontic Treatment (fixed tooth implant)
* Ilazirav Technique of lengthening a limb
* Congenital heart surgery
* Angioplasty
* Heart Valve Replacement Surgery
* GIFT (in-vitro technique for child bearing)
* Serious Accidents and Multiple Injuries Surgery
* Hip and Knee Replacement Surgery
* Coronary Artery Bypass/ Graft Surgery
* Cochlear Implants (surgical) for the hearing impaired
* Onco-Surgery upto Grade I
* Reconstructive Nose Surgery with Face Lifting
* Penile Implant Surgery
* Artificial Limb Prosthesis
Purpose :
Loan for individuals to avail specialised expensive medical treatment e.g. coronary by-pass, Hip and Knee replacement surgery, cochlear implants(surgical) for the hearing impaired etc.
Eligibility :
You qualify to avail of loans under this scheme, if you are:
* An employee of the Government/ a reputed PSU/ a profit making public limited company, and if you have a minimum, 10 years of service
* A self-employed professional
* A pensioner, who has taken voluntary retirement and is not yet 60 years old
* An agent of Insurance/ KVP/ Mutual Funds etc. with a minimum annual income of Rs.3 lakh
*An employee/ a pensioner with a minimum income of Rs.10,000 per month or if you are a neither, a minimum income of Rs. 3 lakhs per annum.
Note : If the person being treated is a minor, the loan may be granted to a parent.
Loan Amount :
The loan amounts range from a minimum of Rs.50,000/- to a maximum of 12 months NMI (when it concerns salaried individuals and pensioners) or a 1 year net annual income (when it comes to persons other than salaried individuals and pensioners), subject, to the following ceilings:
* For Employees and Professionals : Rs.2.0 lacs
* For Pensioners and Agents : Rs.1.0 lac
Once sanctioned,the loan is disbursed by the issuance of a draft/ banker's cheque, favouring the hospital, where the treatment is being undertaken or where it's proposed to be undertaken.
Margin :
20% of the total cost of treatment.
Security :
As per bank's extant instructions.
Repayment Period :
You may comfortably repay your loan over a maximum - 60 Equated Monthly Installments.
Interest :
0.75% above SBAR i.e.14.50% p.a.
Processing Fee (One time)
0.50% of the loan amount.
Documentation :
Please contact the Bank for details.
Authorised branches We are pleased to inform you that currently, The Medi Plus Scheme is being offered at:
* All computerized SBI branches in identified cities
* All SBI branches, in metro/ urban centers, having "P" divisions
* All SBI Personal Banking Branches
Processing Fee : 0.50% of the entire loan amount, If the applicant already maintain a regular Housing Loan Account with us the processing fee is waived.
List of Diseases
* Corneal implant
* Orthodontic treatment - fixed tooth implant
* Ilazirav technique of lengthening a limb
* Angioplasty
* Congenital heart surgery
* Heart Valve replacement surgery
* GIFT - In-vitro technique for child bearing
* Serious accidents and multiple injuries surgery
* Coronary artery bypass graft surgery
* Hip and knee replacement surgery
* Cochlear implants (surgical) for the hearing impaired
* Onco - surgery upto Grade I
* Reconstructive nose surgery with facelifting
* Penile implant surgery
* Artificial limb prosthesis
* Laser assisted hatching
* Intra Cylasmic sperms injection
This information is brought to you by Harmony Infotech.
Contact us if you are looking for a Health website.
Tuesday, November 18, 2008
SBI - Festival Loans
FESTIVAL LOANS:
It is the festive season!!! Is the unavailability of ready funds, dampening the celebrations?
Avail of SBI's Festival Loan and bring back the cheer and celebrate in style!!! Hurry, the gifts and the sweets are waiting….
SBI offers you the unique facility of Festival Loans to help you meet any kind of festival related expenses.
Enjoy the SBI Advantage :
Low interest rates, currently 15.50% p.a.(compare with the 18.00% - 30% p.a. charged by others for personal loans/credit card companies.)
Low processing charges; 1.10% of loan amount(inclusive of service tax) per application.
No hidden costs or administrative charges.
No security required if check off is available….. which means minimal documentation…. something that you had always wanted.
No prepayment penalties.
Repayment period of upto 12 months.
Complete Transparency.
The Scheme :
Purpose
To meet any kind of festival related expenses.
Eligibility :
You are eligible to avail a Festival Loan if you are:
An Employee of Govt., PSUs, profit making public/private limited companies/ institutions etc with a minimum of 2 years service OR
Self employed person with minimum 3 years standing/experience OR
A person having regular source of income from verifiable channels like Pension and interest from TDRs/NSCs/Govt. Securities etc
You have a net monthly income of Rs.3000/- and above.
Your spouse's income can also be considered in calculating the loan amount provided he/she guarantees the loan or the loan is taken jointly.
Loan Amount:
Your festival loan limit would be determined by your income and repayment capacity.
Minimum : Rs.5000/-
Maximum : 4 times your Net Monthly Income, subject to a ceiling of Rs.50,000/-.
Documents Required :
Passport Size Photograph
Proof of official address for self employed individuals and professionals. This can include shop and establishment certificate/Lease deed/Telephone Bill.
Latest Salary Slip and Form 16, in the case of salaried persons IT returns for the last two financial years, in the case of self employed individuals and professionals
Margin :NIL
Interest :2.50% above SBAR Floating i.e. 15.50% p.a
Repayment :
You can repay the loan over a period of 12 months through Equated Monthly Installments (EMI). Should you wish to deploy your surplus funds towards prepayment of the loan, feel free to do so without any prepayment penalty.
Security :
Personal guarantee of the spouse or any other person of adequate worth where check off facility is not available.
Processing Fee :
You need to pay only a nominal processing fee of 1.10% of the loan amount.
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It is the festive season!!! Is the unavailability of ready funds, dampening the celebrations?
Avail of SBI's Festival Loan and bring back the cheer and celebrate in style!!! Hurry, the gifts and the sweets are waiting….
SBI offers you the unique facility of Festival Loans to help you meet any kind of festival related expenses.
Enjoy the SBI Advantage :
Low interest rates, currently 15.50% p.a.(compare with the 18.00% - 30% p.a. charged by others for personal loans/credit card companies.)
Low processing charges; 1.10% of loan amount(inclusive of service tax) per application.
No hidden costs or administrative charges.
No security required if check off is available….. which means minimal documentation…. something that you had always wanted.
No prepayment penalties.
Repayment period of upto 12 months.
Complete Transparency.
The Scheme :
Purpose
To meet any kind of festival related expenses.
Eligibility :
You are eligible to avail a Festival Loan if you are:
An Employee of Govt., PSUs, profit making public/private limited companies/ institutions etc with a minimum of 2 years service OR
Self employed person with minimum 3 years standing/experience OR
A person having regular source of income from verifiable channels like Pension and interest from TDRs/NSCs/Govt. Securities etc
You have a net monthly income of Rs.3000/- and above.
Your spouse's income can also be considered in calculating the loan amount provided he/she guarantees the loan or the loan is taken jointly.
Loan Amount:
Your festival loan limit would be determined by your income and repayment capacity.
Minimum : Rs.5000/-
Maximum : 4 times your Net Monthly Income, subject to a ceiling of Rs.50,000/-.
Documents Required :
Passport Size Photograph
Proof of official address for self employed individuals and professionals. This can include shop and establishment certificate/Lease deed/Telephone Bill.
Latest Salary Slip and Form 16, in the case of salaried persons IT returns for the last two financial years, in the case of self employed individuals and professionals
Margin :NIL
Interest :2.50% above SBAR Floating i.e. 15.50% p.a
Repayment :
You can repay the loan over a period of 12 months through Equated Monthly Installments (EMI). Should you wish to deploy your surplus funds towards prepayment of the loan, feel free to do so without any prepayment penalty.
Security :
Personal guarantee of the spouse or any other person of adequate worth where check off facility is not available.
Processing Fee :
You need to pay only a nominal processing fee of 1.10% of the loan amount.
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SBI - Loan For Earnest Money Deposit
LOAN FOR EARNEST MONEY DEPOSIT
This product addresses the financial requirements towards Earnest Money Deposit to book residential plots/ built-up houses/ flats being sold by Govt. Housing Agencies, Urban Development Authorities like PUDA, HUDA and Housing Boards.
Scheme highlights:
*Easy availability of loan with minimum documentation.
*Option to repay this loan from the proceeds of Housing Loan availed from SBI
*Interest applied on daily diminishing basis.
*No administrative charges or application fee.
Eligibility :
*Minimum age 21 years as on the date of sanction.
*Steady source of income.
Maximum Loan Amount:
*Rs.100,000.
*90% of application money, or10 times Net Monthly Income of the applicant whichever is the least, subject to the following:
*One person can be financed only for one application at any point of time
*In case of applications in more than one name, incomes of all the applicants may be taken into account.
Security :
*Third party guarantee good for the loan amount.
*Tangible security in the form of NSCs/ IVPs/ TDRs/ LIC policy/ SBI Life policy etc. covering atleast 50% of the loan amount.
*Tangible security clause waiver considered in respect of permanent employees of reputed public/ private sector organisations, where check-off is available.
Repayment:
*In case of unsuccessful applicants – on receipt of refund from the Housing Board/ Urban Development Authority.
*In case of successful applicants – lump sum repayment of the loan out of Housing Loan availed from us for purchase of house allotted to you or for construction of house on the plot allotted.
*No penalty for prepayment.
Rate of Interest:
1% above SBAR, present effective rate of interest being 11.25% p.a.
Processing Fee:
0.5% of the loan amount (minimum Rs.100/-)
Disbursement:
The loan would be disbursed by issuance of draft/ banker’s cheque favouring the concerned Government Agency.
Documents :
*Letter of allotment from the concerned Housing Agency, Urban Development Authority or Housing Board
*Photograph
*Proof of Identity*-Voters’ I-card/ Passport/ Driving License/ PAN Card etc.
*Proof of residence*-Passport/ Driving License/ PAN Card/ Ration Card
-Any other satisfactory proof of residence
*Proof of Income
*not required if the applicant is maintaining an account with us
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This product addresses the financial requirements towards Earnest Money Deposit to book residential plots/ built-up houses/ flats being sold by Govt. Housing Agencies, Urban Development Authorities like PUDA, HUDA and Housing Boards.
Scheme highlights:
*Easy availability of loan with minimum documentation.
*Option to repay this loan from the proceeds of Housing Loan availed from SBI
*Interest applied on daily diminishing basis.
*No administrative charges or application fee.
Eligibility :
*Minimum age 21 years as on the date of sanction.
*Steady source of income.
Maximum Loan Amount:
*Rs.100,000.
*90% of application money, or10 times Net Monthly Income of the applicant whichever is the least, subject to the following:
*One person can be financed only for one application at any point of time
*In case of applications in more than one name, incomes of all the applicants may be taken into account.
Security :
*Third party guarantee good for the loan amount.
*Tangible security in the form of NSCs/ IVPs/ TDRs/ LIC policy/ SBI Life policy etc. covering atleast 50% of the loan amount.
*Tangible security clause waiver considered in respect of permanent employees of reputed public/ private sector organisations, where check-off is available.
Repayment:
*In case of unsuccessful applicants – on receipt of refund from the Housing Board/ Urban Development Authority.
*In case of successful applicants – lump sum repayment of the loan out of Housing Loan availed from us for purchase of house allotted to you or for construction of house on the plot allotted.
*No penalty for prepayment.
Rate of Interest:
1% above SBAR, present effective rate of interest being 11.25% p.a.
Processing Fee:
0.5% of the loan amount (minimum Rs.100/-)
Disbursement:
The loan would be disbursed by issuance of draft/ banker’s cheque favouring the concerned Government Agency.
Documents :
*Letter of allotment from the concerned Housing Agency, Urban Development Authority or Housing Board
*Photograph
*Proof of Identity*-Voters’ I-card/ Passport/ Driving License/ PAN Card etc.
*Proof of residence*-Passport/ Driving License/ PAN Card/ Ration Card
-Any other satisfactory proof of residence
*Proof of Income
*not required if the applicant is maintaining an account with us
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SBI - Loan Against Shares\ Debentures
LOAN AGAINST SHARES \ DEBENTURES
Do you need urgent cash but you don't wish to sell or liquidate your holding of shares?
Leverage your investments in shares, debentures, public sector bonds and Government securities for loans to meet unforeseen expenses!! You need not miss out on the next stock market boom!!
Avail of loans up to Rs.20.00 lacs against your shares/debentures to enable you to meet contingencies, personal needs or even for subscribing to rights or new issue of shares.
Note: Loan will not be sanctioned for
1. speculative purposes
2. inter-corporate investments or
3. acquiring controlling interest in company/companies.
Enjoy the SBI advantage
*Low interest rates. Further, we charge interest on a daily reducing balance!!
*Low processing charges; only 1% of loan amount - compare with 1-3% of others.
*No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
The Scheme :
Eligibility :
This facility is available to our existing individual customers enjoying a strong relationship with SBI. This loan could be availed either singly or as a joint account with spouse in 'Either or Survivor'/ 'Former or Survivor' mode. It is offered as an Overdraft or Demand Loan.
The facility is available at 50 select centers.
Salient Features
Purpose :
For meeting contingencies and needs of personal nature. Loan will be permitted for subscribing to rights or new issue of shares / debentures against the security of existing shares / debentures. Loan will not be sanctioned for (i) speculative purposes (ii) inter-corporate investments or (iii) acquiring controlling interest in company / companies.
Loan Amount :
You can avail of loans up to Rs 20.00 lacs against your shares/debentures.
Documents Required:
You will be required to submit a declaration indicating :
* Details of loans availed from other banks/ branches for acquiring shares/ debentures.
*Details of loans availed from other banks/ branches against security of shares/ debentures Margin.
You will need to provide a margin amount of 50% of the prevailing market prices of the shares/ non-convertible debentures being offered as security. (The market prices refer to the prices in the Stock Exchanges as reported in the Economic Times.)
Interest :
At SBAR Floating i.e. 13.00% p.a.
Repayment Schedule :
To be liquidated in maximum period of 30 months through a suitable reducing DP programme.
In case of a default or if the outstanding is over Rs.20.00 lacs, the shares/debentures will be transferred in the name of the Bank.
Security:
Pledge of the demat shares/debentures against which overdraft is granted.
Coverage:
Scheme is available at select branches at 50 centres.
Essential Parameters for acceptance of shares as security
(i) The equity shares and debentures offered as security should be fully paid. Preference shares will not be acceptable as security
(ii) The shares/ debentures offered as security must be in demat form.
(iii) The share/ debenture should be of a company listed in BSE 100 Index, except those of SBI (list of BSE 100 Index companies is available on www.bseindia.com).
(iv) The market price of the security should not have fallen below par for preceding 52 weeks.
(v) The market price of the security should not be as variance with the arithmetical average of preceding 52 weeks high and low by more than 25% in downward direction.
(vi) ( P/E ratio of the company should not exceed 40 as published in Economic Times. In case P/E ratio is not available the shares/ debentures of the company should not be accepted as security.
(vii) The total number of shares of the company traded on NSE and BSE should exceed 25000 on the day of financing and on each preceding 2 days.
(viii) Security where the market price 52 week high is 4 times of the 52 week low should not be accepted. (Information related to 52 weeks high and low, P/E ratio and traded volumes in NSE and BSE is available in Economic Times).
Rating :
Debentures must have been rated 'AA+' or higher by CRISIL or equivalent rating by any other reputed rating agency like ICRA etc.
Repayment :
To be liquidated in maximum period of 30 months through a suitable reducing DP programme.
Declaration:
The applicant will have to submit a declaration indicating:·
#details of loans availed of by them from other banks/ branches for acquiring shares/ debentures
#details of loans availed from other banks/ branches against security of shares/ debentures
Transfer of shares
Shares/debentures will be transferred in the name of the Bank when there is a default and the outstanding is over Rs.20 lacs.
Documentation
#Application for overdraft limit against security of shares/ debentures indicating details of shares (i.e. ISIN of the company whose shares/ debenture are offered as security, number of shares/ debenture offered as security) along with borrowers DP ID and DP account number.
#Applicant has to submit consent letter agreeing to regularize the account/ replenish the margin shortfall, on account of adverse market price variation, immediately on receipt of notice from the branch. Applicant will also submit consent to the condition that in the event of his failure to regularize the account immediately, Bank has the right to get the security transferred in its name and arrange for its sale, without any further reference to him. The Bank shall exercise this option without prejudice to its rights to recover the dues by other means also.
#DP Note and DP Delivery letter.
#Irrevocable Letter of Undertaking addressed to the Bank signed by all holders of the shares.
#Dividend collection mandate(s).
#Either or Survivorship Letter(if applicable).
Security :
Pledge of the demat shares/ debentures against which overdraft is granted.
Nature of loan :
Is Overdraft / Demand Loan with the Repayment programme maximum 30 months.
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Do you need urgent cash but you don't wish to sell or liquidate your holding of shares?
Leverage your investments in shares, debentures, public sector bonds and Government securities for loans to meet unforeseen expenses!! You need not miss out on the next stock market boom!!
Avail of loans up to Rs.20.00 lacs against your shares/debentures to enable you to meet contingencies, personal needs or even for subscribing to rights or new issue of shares.
Note: Loan will not be sanctioned for
1. speculative purposes
2. inter-corporate investments or
3. acquiring controlling interest in company/companies.
Enjoy the SBI advantage
*Low interest rates. Further, we charge interest on a daily reducing balance!!
*Low processing charges; only 1% of loan amount - compare with 1-3% of others.
*No hidden costs or administrative charges..
* No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
The Scheme :
Eligibility :
This facility is available to our existing individual customers enjoying a strong relationship with SBI. This loan could be availed either singly or as a joint account with spouse in 'Either or Survivor'/ 'Former or Survivor' mode. It is offered as an Overdraft or Demand Loan.
The facility is available at 50 select centers.
Salient Features
Purpose :
For meeting contingencies and needs of personal nature. Loan will be permitted for subscribing to rights or new issue of shares / debentures against the security of existing shares / debentures. Loan will not be sanctioned for (i) speculative purposes (ii) inter-corporate investments or (iii) acquiring controlling interest in company / companies.
Loan Amount :
You can avail of loans up to Rs 20.00 lacs against your shares/debentures.
Documents Required:
You will be required to submit a declaration indicating :
* Details of loans availed from other banks/ branches for acquiring shares/ debentures.
*Details of loans availed from other banks/ branches against security of shares/ debentures Margin.
You will need to provide a margin amount of 50% of the prevailing market prices of the shares/ non-convertible debentures being offered as security. (The market prices refer to the prices in the Stock Exchanges as reported in the Economic Times.)
Interest :
At SBAR Floating i.e. 13.00% p.a.
Repayment Schedule :
To be liquidated in maximum period of 30 months through a suitable reducing DP programme.
In case of a default or if the outstanding is over Rs.20.00 lacs, the shares/debentures will be transferred in the name of the Bank.
Security:
Pledge of the demat shares/debentures against which overdraft is granted.
Coverage:
Scheme is available at select branches at 50 centres.
Essential Parameters for acceptance of shares as security
(i) The equity shares and debentures offered as security should be fully paid. Preference shares will not be acceptable as security
(ii) The shares/ debentures offered as security must be in demat form.
(iii) The share/ debenture should be of a company listed in BSE 100 Index, except those of SBI (list of BSE 100 Index companies is available on www.bseindia.com).
(iv) The market price of the security should not have fallen below par for preceding 52 weeks.
(v) The market price of the security should not be as variance with the arithmetical average of preceding 52 weeks high and low by more than 25% in downward direction.
(vi) ( P/E ratio of the company should not exceed 40 as published in Economic Times. In case P/E ratio is not available the shares/ debentures of the company should not be accepted as security.
(vii) The total number of shares of the company traded on NSE and BSE should exceed 25000 on the day of financing and on each preceding 2 days.
(viii) Security where the market price 52 week high is 4 times of the 52 week low should not be accepted. (Information related to 52 weeks high and low, P/E ratio and traded volumes in NSE and BSE is available in Economic Times).
Rating :
Debentures must have been rated 'AA+' or higher by CRISIL or equivalent rating by any other reputed rating agency like ICRA etc.
Repayment :
To be liquidated in maximum period of 30 months through a suitable reducing DP programme.
Declaration:
The applicant will have to submit a declaration indicating:·
#details of loans availed of by them from other banks/ branches for acquiring shares/ debentures
#details of loans availed from other banks/ branches against security of shares/ debentures
Transfer of shares
Shares/debentures will be transferred in the name of the Bank when there is a default and the outstanding is over Rs.20 lacs.
Documentation
#Application for overdraft limit against security of shares/ debentures indicating details of shares (i.e. ISIN of the company whose shares/ debenture are offered as security, number of shares/ debenture offered as security) along with borrowers DP ID and DP account number.
#Applicant has to submit consent letter agreeing to regularize the account/ replenish the margin shortfall, on account of adverse market price variation, immediately on receipt of notice from the branch. Applicant will also submit consent to the condition that in the event of his failure to regularize the account immediately, Bank has the right to get the security transferred in its name and arrange for its sale, without any further reference to him. The Bank shall exercise this option without prejudice to its rights to recover the dues by other means also.
#DP Note and DP Delivery letter.
#Irrevocable Letter of Undertaking addressed to the Bank signed by all holders of the shares.
#Dividend collection mandate(s).
#Either or Survivorship Letter(if applicable).
Security :
Pledge of the demat shares/ debentures against which overdraft is granted.
Nature of loan :
Is Overdraft / Demand Loan with the Repayment programme maximum 30 months.
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SBI - LOAN TO PENSIONERS
LOAN TO PENSIONERS
If you are a Central or State Government pensioner drawing your pension through one of our branches and are not more than 72 years of age, you can avail of a loan from your branch to meet your personal expenses. We understand you may have an urgent or unexpected need for funds or a family obligation to be fulfilled and appreciate your association with us. You can avail a loan of up to a maximum of 12 months pension, subject to a ceiling of Rs.1,00,000. The documentation is easy.
The loan may be repaid over 5 years and will carry a low interest rate of 13.50% p.a.
There are no processing fees, no hidden costs and no prepayment penalties. Whenever you have some surplus funds, you can credit your loan account, thereby reducing your loan liability and interest burden.
Salient features of the Scheme:
Eligibility:
All Central and State Government pensioners, whose pension accounts are maintained by our branches. The pensioner should not be more than 72 years of age.
Purpose :
To meet personal expenses .
Loan Amount :
A maximum of 12 months pension with a ceiling of Rs.1,00,000/-
Margin :
Nil
Security :
The spouse eligible for family pension should guarantee the loan or any other family member or a third party worth the loan amount.
Repayment :
60 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of loan sanction is upto 70 years
48 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of sanction is between 70 – 72 years
Rate of Interest :
0.50% above SBAR Floating i.e. 13.50% p.a.
Authorised Branches :
All branches maintaining pension accounts. The facility is available only from the branch which is maintaining pension account of the applicant.
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If you are a Central or State Government pensioner drawing your pension through one of our branches and are not more than 72 years of age, you can avail of a loan from your branch to meet your personal expenses. We understand you may have an urgent or unexpected need for funds or a family obligation to be fulfilled and appreciate your association with us. You can avail a loan of up to a maximum of 12 months pension, subject to a ceiling of Rs.1,00,000. The documentation is easy.
The loan may be repaid over 5 years and will carry a low interest rate of 13.50% p.a.
There are no processing fees, no hidden costs and no prepayment penalties. Whenever you have some surplus funds, you can credit your loan account, thereby reducing your loan liability and interest burden.
Salient features of the Scheme:
Eligibility:
All Central and State Government pensioners, whose pension accounts are maintained by our branches. The pensioner should not be more than 72 years of age.
Purpose :
To meet personal expenses .
Loan Amount :
A maximum of 12 months pension with a ceiling of Rs.1,00,000/-
Margin :
Nil
Security :
The spouse eligible for family pension should guarantee the loan or any other family member or a third party worth the loan amount.
Repayment :
60 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of loan sanction is upto 70 years
48 Equated Monthly Instalments (EMIs) – if age of Pensioner at the time of sanction is between 70 – 72 years
Rate of Interest :
0.50% above SBAR Floating i.e. 13.50% p.a.
Authorised Branches :
All branches maintaining pension accounts. The facility is available only from the branch which is maintaining pension account of the applicant.
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SBI - Property Loan
PROPERTY LOAN
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.
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.
Eligibility :You are eligible if you are:
A. An individual who is;
a. An Employee or
b. A Professional, self-employed or an income tax assesse or
c. Engaged in agricultural and allied activities.
B. Your Net Monthly Income (salaried) is in excess of Rs.12,000/- or Net Annual Income (others) is in excess of Rs.1,50,000/-.
The income of the spouse may be added if he/she is a co-borrower or a guarantor.
C. Maximum age limit: 60 years.
Salient Features
Loan Amount :
Minimum : Rs.25,000/-
Maximum : Rs.1 crore. The amount is decided by the following calculation:
*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)
Margin. We will finance upto 60% of the market value of your property.
Interest :
Term Loan 1.00% above SBAR. i.e.14.00% p.a. Floating for loans upto Rs.1.00 crore. In other cases 1.25% above SBAR i.e.14.25% p.a. Floating
Repayment :
Maximum of 60 equated monthly instalments, upto 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.
Security :
As per banks extant instructions.
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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.
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.
Eligibility :You are eligible if you are:
A. An individual who is;
a. An Employee or
b. A Professional, self-employed or an income tax assesse or
c. Engaged in agricultural and allied activities.
B. Your Net Monthly Income (salaried) is in excess of Rs.12,000/- or Net Annual Income (others) is in excess of Rs.1,50,000/-.
The income of the spouse may be added if he/she is a co-borrower or a guarantor.
C. Maximum age limit: 60 years.
Salient Features
Loan Amount :
Minimum : Rs.25,000/-
Maximum : Rs.1 crore. The amount is decided by the following calculation:
*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)
Margin. We will finance upto 60% of the market value of your property.
Interest :
Term Loan 1.00% above SBAR. i.e.14.00% p.a. Floating for loans upto Rs.1.00 crore. In other cases 1.25% above SBAR i.e.14.25% p.a. Floating
Repayment :
Maximum of 60 equated monthly instalments, upto 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.
Security :
As per banks extant instructions.
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SBI - SCHOLAR LOANS
SCHOLAR LOANS
Apply Scholar Loan online
Education Loans to students securing admissions in:
* The country’s best engineering colleges
*The nation’s elite medical colleges
*India’s top B-Schools
Eligibility :
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features :
*Option to avail loan at Campus or branch nearer to permanent residence
*Option to transfer loan account to a branch convenient to student for repayment.
*Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount :
Maximum loan amount upto Rs.15 lacs Expenses covered
* Fees payable to college/school/hostel
*Purchase of books/equipments/instruments
*Travel expenses/expenses on exchange programme
* Purchase of computer/laptop
*Any other expenses related to education
Interest Rate :
1.5% below SBAR effective rate 11.50% p.a. (floating)
Repayment :
*Moratorium upto course duration plus six months
*Flexible repayment period upto 7 years.
Security :
* No security.
* Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin :
* Nil upto Rs.4 lacs
* 5% above Rs.4 lacs
Documentation Required :
*Letter of admission
*2 passport size photographs
*Proof of identity (driving licence/passport/PAN/any photo identity)
*Proof of residence (driving licence/passport/electricity bill/phone bill)
*Statement of expenses
This information is brought to you by Harmony Infotech. Contact us if you are looking for a Finance Website.
Apply Scholar Loan online
Education Loans to students securing admissions in:
* The country’s best engineering colleges
*The nation’s elite medical colleges
*India’s top B-Schools
Eligibility :
A term loan granted to Indian Nationals for pursuing higher education in India in selected institutions.
Salient Features :
*Option to avail loan at Campus or branch nearer to permanent residence
*Option to transfer loan account to a branch convenient to student for repayment.
*Student can avail a second education loan for higher studies provided the institution and fees fall within criteria.
Loan amount :
Maximum loan amount upto Rs.15 lacs Expenses covered
* Fees payable to college/school/hostel
*Purchase of books/equipments/instruments
*Travel expenses/expenses on exchange programme
* Purchase of computer/laptop
*Any other expenses related to education
Interest Rate :
1.5% below SBAR effective rate 11.50% p.a. (floating)
Repayment :
*Moratorium upto course duration plus six months
*Flexible repayment period upto 7 years.
Security :
* No security.
* Co-borrower (Parent/guardian as co-borrower at Bank’s discretion)
Margin :
* Nil upto Rs.4 lacs
* 5% above Rs.4 lacs
Documentation Required :
*Letter of admission
*2 passport size photographs
*Proof of identity (driving licence/passport/PAN/any photo identity)
*Proof of residence (driving licence/passport/electricity bill/phone bill)
*Statement of expenses
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SBI - Education Loan
SBI - Education Loan
Apply SBI Education Loan Online
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Eligible Courses
All courses having employment prospects are eligible.
* Graduation courses/ Post graduation courses/ Professional courses
* Other courses approved by UGC/Government/AICTE etc.
Expenses considered for loan
* Fees payable to college/school/hostel
* Examination/Library/Laboratory fees
* Purchase of Books/Equipment/Instruments/Uniforms
* Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
* Travel Expenses/Passage money for studies abroad
* Purchase of computers considered necessary for completion of course
* Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc.
Amount of Loan:
* For studies in India, maximum Rs. 10 lacs
* Studies abroad, maximum Rs. 20 lacs
Interest Rates :(with effect from 10.11.2008)
For loans up to Rs.4 lacs - 0.50% below SBAR i.e.12.50% p.a. Floating
For loans above Rs. 4 lacs and upto Rs.7.50 lacs - 1.00% above SBAR 14.00 % Floating
For loans above Rs.7.50 lacs - SBAR - 13.00% p.a. Floating
Processing Fees :
* No processing fee/ upfront charges
* Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money
Repayment Tenure :
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Place of Study Loan Amount Repayment Period in Years
Studies in India Rs. 10.0 lacs 5-7
Studies Abroad Rs. 20.0 lacs 5-7
Security :
Amount For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad.
Upto Rs. 4 lacs No Security
Above Rs. 4 lacs to Rs. 7.50 lacs Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as "joint borrower".
Above Rs. 7.50 lacs.
Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.
All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law
Margin
* For loans up to Rs.4.0 lacs : No Margin
* For loans above Rs.4.0 lacs:
*Studies in India: 5%
*Studies Abroad: 15%
Documentation Required :
* Completed Education Loan Application Form.
* Mark sheets of last qualifying examination
* Proof of admission scholarship, studentship etc
* Schedule of expenses for the specified course
* 2 passport size photographs
* Borrower's Bank account statement for the last six months
* Income tax assessment order, of last 2 years
* Brief statement of assets and liabilities, of the Co-borrower
* Proof of Income (i.e. Salary slips/ Form 16 etc)
* Conditions Apply
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Apply SBI Education Loan Online
A term loan granted to Indian Nationals for pursuing higher education in India or abroad where admission has been secured.
Eligible Courses
All courses having employment prospects are eligible.
* Graduation courses/ Post graduation courses/ Professional courses
* Other courses approved by UGC/Government/AICTE etc.
Expenses considered for loan
* Fees payable to college/school/hostel
* Examination/Library/Laboratory fees
* Purchase of Books/Equipment/Instruments/Uniforms
* Caution Deposit/Building Fund/Refundable Deposit (maximum 10% tution fees for the entire course)
* Travel Expenses/Passage money for studies abroad
* Purchase of computers considered necessary for completion of course
* Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study tours, project work etc.
Amount of Loan:
* For studies in India, maximum Rs. 10 lacs
* Studies abroad, maximum Rs. 20 lacs
Interest Rates :(with effect from 10.11.2008)
For loans up to Rs.4 lacs - 0.50% below SBAR i.e.12.50% p.a. Floating
For loans above Rs. 4 lacs and upto Rs.7.50 lacs - 1.00% above SBAR 14.00 % Floating
For loans above Rs.7.50 lacs - SBAR - 13.00% p.a. Floating
Processing Fees :
* No processing fee/ upfront charges
* Deposit of Rs. 5000/- for education loan for studies abroad which will be adjusted in the margin money
Repayment Tenure :
Repayment will commence one year after completion of course or 6 months after securing a job, whichever is earlier.
Place of Study Loan Amount Repayment Period in Years
Studies in India Rs. 10.0 lacs 5-7
Studies Abroad Rs. 20.0 lacs 5-7
Security :
Amount For loans upto Rs. 10.00 lacs for Studies in India and upto Rs. 20.00 lacs for studies abroad.
Upto Rs. 4 lacs No Security
Above Rs. 4 lacs to Rs. 7.50 lacs Collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional cases, weive third party guarantee if satisfied with the net-worth/means of parent/s who would be executing the documents as "joint borrower".
Above Rs. 7.50 lacs.
Tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.
All loans should be secured by parent(s)/guardian of the student borrower. In case of married person, co-obligator can be either spouse or the parent(s)/ parents-in-law
Margin
* For loans up to Rs.4.0 lacs : No Margin
* For loans above Rs.4.0 lacs:
*Studies in India: 5%
*Studies Abroad: 15%
Documentation Required :
* Completed Education Loan Application Form.
* Mark sheets of last qualifying examination
* Proof of admission scholarship, studentship etc
* Schedule of expenses for the specified course
* 2 passport size photographs
* Borrower's Bank account statement for the last six months
* Income tax assessment order, of last 2 years
* Brief statement of assets and liabilities, of the Co-borrower
* Proof of Income (i.e. Salary slips/ Form 16 etc)
* Conditions Apply
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SBI - Car Loan
Car Loan
Apply Car Loan Online :
Move ahead in life with SBI Car Loans! If you have been putting off purchasing that Car, we invite you to go through our Car Loan Scheme.
Low interest rates, easy repayment options, total transparency.
Finance to include vehicle registration charges, insurance, one-time road tax and accessories (subject to conditions).
Well, what are you waiting for? Just contact any of our branches (more than 6000) that offer Car Loans or our Personal Banking Branches and give wheels to your desire!
You can apply for an SBI Car Loan to purchase :
*A new car, jeep, Multi Utility Vehicle (MUV) or SUV (any make or model)
*A used car / jeep / MUV /SUV (not more than 5 years old). (any make or model)
Enjoy the SBI Advantage :
Excellent service and lower costs. A quick survey of similar schemes available elsewhere and you will find that SBI Car Loans for new and old vehicles offer you :
* Lowest interest rates
*Longer repayment period of upto 84 months.
*No hidden costs or administrative charges.
*Finance for one-time road tax, registration fee, insurance premium and accessories
*No advance EMIs.(Some Banks/companies ask you to pay one or more EMIs at the time of disbursement of loan, thereby effectively reducing your loan amount.)
*Complete transparency : We levy interest on daily reducing balance method. When you pay one instalment, the interest is automatically calculated on the reduced balance thereafter. When you pay interest on an annual reducing balance, as charged by many other companies/banks, the interest amount for the coming year is determined on the amount outstanding at the beginning of the year. You continue to pay interest even on the amounts you repay during the year.
Always compare the Equated Monthly Instalments (EMIs) and the total payments you would be required to make and not the rates of interest.
The Scheme
Purpose :
You can take finance for :
A new car, jeep or Multi Utility Vehicles (MUVs)
A used car / jeep (not more than 5 years old). (Any make or model).
Take over of existing loan from other Bank/Financial institution (Conditions apply)
Eligibility :
To avail an SBI Car Loan, you should be :
* Individual between the age of 21-65 years of age.
* A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or
* A Professionals or self-employed individual who is an income tax assessee or
* A Person engaged in agriculture and allied activities.
* Net Annual Income Rs. 100,000/- and above.
Salient Features
Loan Amount:
There is no upper limit for the amount of a car loan. A maximum loan amount of 2.5 times the net annual income can be sanctioned. If married, your spouse's income could also be considered provided the spouse becomes a co-borrower in the loan. The loan amount includes finance for one-time road tax, registration and insurance!
No ceiling on the loan amount for new cars.
Loan amount for used car is subject to a maximum limit of Rs. 15 lacs.
Type of Loan :
1. Term Loan
2. Overdraft - a) For New vehicles only
b) Minimum loan amount: Rs. 3 lacs.
Documents Required :
You would need to submit the following documents along with the completed application form if you are an existing SBI account holder:
1. Statement of Bank account of the borrower for last 12 months.
2. 2 passport size photographs of borrower(s).
3. Signature identification from bankers of borrower(s).
4. A copy of passport /voters ID card/PAN card.
5. Proof of residence.
6. Latest salary-slip showing all deductions
7. I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted.
8. Proof of official address for non-salaried individuals.
If you are not an account holder with SBI you would also need to furnish documents that establish your identity and give proof of residence.
Margin:
New / Used vehicles : 15% of the on the road price.
Repayment :
You enjoy the longest repayment period in the industry with us.
Repayment period:
For Salaried: Maximum of 84 months
For Self-employed & Professionals: Maximum 60 months
Repayment period for used vehicles :Up to 84 months from the date of original purchase of the vehicle (subject to maximum tenure as above).
Prepayment Penalty:
Prepayment fee of 2% of the amount of the loan prepaid will be levied subject to certain conditions.
Processing Fee :
0.50% of Loan amount and to be paid upfront.
Minimum: Rs. 500/-
Maximum Rs. 10,000
25% of Processing fee will be ratained if application is rejected after pre-sanction survey.
Security :
As per bank's extant instructions.
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Apply Car Loan Online :
Move ahead in life with SBI Car Loans! If you have been putting off purchasing that Car, we invite you to go through our Car Loan Scheme.
Low interest rates, easy repayment options, total transparency.
Finance to include vehicle registration charges, insurance, one-time road tax and accessories (subject to conditions).
Well, what are you waiting for? Just contact any of our branches (more than 6000) that offer Car Loans or our Personal Banking Branches and give wheels to your desire!
You can apply for an SBI Car Loan to purchase :
*A new car, jeep, Multi Utility Vehicle (MUV) or SUV (any make or model)
*A used car / jeep / MUV /SUV (not more than 5 years old). (any make or model)
Enjoy the SBI Advantage :
Excellent service and lower costs. A quick survey of similar schemes available elsewhere and you will find that SBI Car Loans for new and old vehicles offer you :
* Lowest interest rates
*Longer repayment period of upto 84 months.
*No hidden costs or administrative charges.
*Finance for one-time road tax, registration fee, insurance premium and accessories
*No advance EMIs.(Some Banks/companies ask you to pay one or more EMIs at the time of disbursement of loan, thereby effectively reducing your loan amount.)
*Complete transparency : We levy interest on daily reducing balance method. When you pay one instalment, the interest is automatically calculated on the reduced balance thereafter. When you pay interest on an annual reducing balance, as charged by many other companies/banks, the interest amount for the coming year is determined on the amount outstanding at the beginning of the year. You continue to pay interest even on the amounts you repay during the year.
Always compare the Equated Monthly Instalments (EMIs) and the total payments you would be required to make and not the rates of interest.
The Scheme
Purpose :
You can take finance for :
A new car, jeep or Multi Utility Vehicles (MUVs)
A used car / jeep (not more than 5 years old). (Any make or model).
Take over of existing loan from other Bank/Financial institution (Conditions apply)
Eligibility :
To avail an SBI Car Loan, you should be :
* Individual between the age of 21-65 years of age.
* A Permanent employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment or
* A Professionals or self-employed individual who is an income tax assessee or
* A Person engaged in agriculture and allied activities.
* Net Annual Income Rs. 100,000/- and above.
Salient Features
Loan Amount:
There is no upper limit for the amount of a car loan. A maximum loan amount of 2.5 times the net annual income can be sanctioned. If married, your spouse's income could also be considered provided the spouse becomes a co-borrower in the loan. The loan amount includes finance for one-time road tax, registration and insurance!
No ceiling on the loan amount for new cars.
Loan amount for used car is subject to a maximum limit of Rs. 15 lacs.
Type of Loan :
1. Term Loan
2. Overdraft - a) For New vehicles only
b) Minimum loan amount: Rs. 3 lacs.
Documents Required :
You would need to submit the following documents along with the completed application form if you are an existing SBI account holder:
1. Statement of Bank account of the borrower for last 12 months.
2. 2 passport size photographs of borrower(s).
3. Signature identification from bankers of borrower(s).
4. A copy of passport /voters ID card/PAN card.
5. Proof of residence.
6. Latest salary-slip showing all deductions
7. I.T. Returns/Form 16: 2 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted.
8. Proof of official address for non-salaried individuals.
If you are not an account holder with SBI you would also need to furnish documents that establish your identity and give proof of residence.
Margin:
New / Used vehicles : 15% of the on the road price.
Repayment :
You enjoy the longest repayment period in the industry with us.
Repayment period:
For Salaried: Maximum of 84 months
For Self-employed & Professionals: Maximum 60 months
Repayment period for used vehicles :Up to 84 months from the date of original purchase of the vehicle (subject to maximum tenure as above).
Prepayment Penalty:
Prepayment fee of 2% of the amount of the loan prepaid will be levied subject to certain conditions.
Processing Fee :
0.50% of Loan amount and to be paid upfront.
Minimum: Rs. 500/-
Maximum Rs. 10,000
25% of Processing fee will be ratained if application is rejected after pre-sanction survey.
Security :
As per bank's extant instructions.
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SBI - Gram Nivas Scheme
SBI - Gram Nivas Scheme
This customized offering is an extension of the social responsibility that we have shouldered since the very inception of the Bank. The objective of this scheme is to comprehensively cater to the needs of the village community with special focus on poorest of the poor for Housing Loans keeping in view the peculiarity of the ownership title in rural areas, social habits, type of construction and other related needs.
Scheme Highlights :
Purpose
*Purchase or construction of a house, including cost of construction of work shed for pursuing income generating activities viz. dairy shed, tailoring shop, grocery store, work shed for village artisans etc
* Renovation or repair of existing house/ shed which is not more than 15 years old in case of RCC/ Tiled Roof (with steel/ wooden beams) and 5 years for other types of construction
* Purchase of a plot of land for the purpose of house construction
*Extension of existing house/ work space
If the plots owned are in different places in the same village, two separate loans for construction of house and work shed may be extended.
Operational Area :
The Scheme will cover all rural and semi-urban centres. 'Rural Area' for the purpose of the Scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50000 as per 1991 census
Eligibility :
*The applicant should be between 21 years and 50 years of age*
*Individuals having satisfactorily conducted deposit accounts for two years, or
*Individuals whose existing loan account is satisfactorily conducted and is a Standard Asset, or
*A member of a Self Help Group having savings/ loan accounts with us
* Applicants above 50 years may be considered for sanction of loan with all the legal heirs joining as guarantors or after obtaining a suitable no objection agreement/ power of attorney from the legal heirs
Loan Amount:
The loan amount will be:
*5 times the Average Annual Income from agriculture including income from ancillary agricultural activity, or
*5 times the Net Annual Income in case of employees, or
*5 times the Average Annual Income from the business/ profession
To enhance the loan eligibility you have the option to add:
*Income of your spouse
*Regular income from all sources
The loan amount is, however, subject to the following limits:
*For construction/purchase of house: Rs.2.00 lacs
*For repairs/renovation: Rs.1.00 lac
*For purchase of land: Rs.0.30 lac
Margin : 10% of the project cost
Assessment of Eligibility :
*For loans upto Rs.0.50 lacs – on the basis of simple estimates
*For loans above Rs.0.50 lacs – on the basis of unit costs for different types of houses as fixed by the Bank
Security :
For loans upto Rs.0.50 lacs – only third party guarantee is required
For Loans above Rs.0.50 lacs:
Equitable/ Registered mortgage of the House/ Flat, or
Any other tangible security including agricultural land to cover 100% of loan amount
Repayment :
Maximum repayment period of upto 15 years with option to repay in equated monthly/ quarterly/ half yearly/ yearly installments, decided upon the merits of each case
Processing Charges : Nil. (Lawyer’s fee, not exceeding Rs.500, to be paid by the borrower)
(Other terms and conditions – as applicable to regular housing loans)
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This customized offering is an extension of the social responsibility that we have shouldered since the very inception of the Bank. The objective of this scheme is to comprehensively cater to the needs of the village community with special focus on poorest of the poor for Housing Loans keeping in view the peculiarity of the ownership title in rural areas, social habits, type of construction and other related needs.
Scheme Highlights :
Purpose
*Purchase or construction of a house, including cost of construction of work shed for pursuing income generating activities viz. dairy shed, tailoring shop, grocery store, work shed for village artisans etc
* Renovation or repair of existing house/ shed which is not more than 15 years old in case of RCC/ Tiled Roof (with steel/ wooden beams) and 5 years for other types of construction
* Purchase of a plot of land for the purpose of house construction
*Extension of existing house/ work space
If the plots owned are in different places in the same village, two separate loans for construction of house and work shed may be extended.
Operational Area :
The Scheme will cover all rural and semi-urban centres. 'Rural Area' for the purpose of the Scheme is the area comprised in any village including the area comprised in any town, the population of which does not exceed 50000 as per 1991 census
Eligibility :
*The applicant should be between 21 years and 50 years of age*
*Individuals having satisfactorily conducted deposit accounts for two years, or
*Individuals whose existing loan account is satisfactorily conducted and is a Standard Asset, or
*A member of a Self Help Group having savings/ loan accounts with us
* Applicants above 50 years may be considered for sanction of loan with all the legal heirs joining as guarantors or after obtaining a suitable no objection agreement/ power of attorney from the legal heirs
Loan Amount:
The loan amount will be:
*5 times the Average Annual Income from agriculture including income from ancillary agricultural activity, or
*5 times the Net Annual Income in case of employees, or
*5 times the Average Annual Income from the business/ profession
To enhance the loan eligibility you have the option to add:
*Income of your spouse
*Regular income from all sources
The loan amount is, however, subject to the following limits:
*For construction/purchase of house: Rs.2.00 lacs
*For repairs/renovation: Rs.1.00 lac
*For purchase of land: Rs.0.30 lac
Margin : 10% of the project cost
Assessment of Eligibility :
*For loans upto Rs.0.50 lacs – on the basis of simple estimates
*For loans above Rs.0.50 lacs – on the basis of unit costs for different types of houses as fixed by the Bank
Security :
For loans upto Rs.0.50 lacs – only third party guarantee is required
For Loans above Rs.0.50 lacs:
Equitable/ Registered mortgage of the House/ Flat, or
Any other tangible security including agricultural land to cover 100% of loan amount
Repayment :
Maximum repayment period of upto 15 years with option to repay in equated monthly/ quarterly/ half yearly/ yearly installments, decided upon the merits of each case
Processing Charges : Nil. (Lawyer’s fee, not exceeding Rs.500, to be paid by the borrower)
(Other terms and conditions – as applicable to regular housing loans)
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SBI Easy Travel Loan
Easy Travel Loan
Do you want funds readily available to you whenever you desire to go on a vacation that you plan with your family or friends? SBI's Easy Travel Loan is the answer to your questions.
Enjoy the SBI Advantage:
· Low interest rate. Further, we charge interest on a daily reducing balance!!
· Low processing charges; only 1% of loan amount.
· Complete transparency; No hidden costs or administrative charges.
· No security required ……which means minimal documentation…something that you had always wanted.
· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
· Long repayment period of up to 48 months.
The Scheme
Purpose
To meet any kind of Travel expense such as cost of ticket, hotel stay, visa, airport tax, purchase of Basic Travel Quota, etc.
Eligibility
You are eligible if you are:
A State/Central Govt. Employee, employee of public sector undertaking/reputed profit making public limited company, reputed institutions, MNC with a minimum service experience of 2 years.
A self employed professional, with a minimum 2 years standing. You should be 60 years of age or less.
A Pensioner of PSU/Govt. (Central/State)/Public Sector Bank who has taken premature voluntary retirement and is 60 years of age or less
Agent of insurance/KVP/Mutual funds etc. with 3-5 years standing who is a tax assesse and whose gross annual income exceeds Rs. 2 lacs.
A trader, who has cash flows to repay the loans and can provide suitable third party guarantee, you should restrict your banking requirements to the branch where the loan is proposed to be taken.
Salient Features
Loan Amount
Your personal loan limit would be determined by your income and repayment capacity.
Minimum: Rs.24,000/-
Maximum : 12 times Net Monthly Income for salaried individuals and pensioners and 1 year's net annual income in case of self employed professionals with the under noted ceilings.
For Salaried individuals and self employed professionals: Rs.2.5 lacs (Rs.5 lacs in New Delhi, Chennai, Bangalore, Hyderabad, Mumbai and Kolkata and can be further increased to Rs.10 lacs if the self-employed professional maintains a satisfactorily conducted account with our branch or the salary of individual is regularly credited to their account with our Bank)
For pensioners: Rs.1.5 lacs
For members of business community: Rs.3.0 lac or 1 year’s net annual profit during the preceding financial year, whichever is lower.
Documents Required :
For existing bank customers
*Copy of Passport (for overseas travellers)
*Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
*Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
*Passport size photograph
*For salaried individuals Latest salary slip and Form 16, for Self-employed individuals and Professionals IT returns for the last two financial years.
*Proof of Professional Qualification (for self employed professionals)
*Copy of highest Professional degree held
For New Customer:
Important documents to be furnished while opening a Personal Loan Account:
· Proof of Identity
· Copy of Passport (for overseas travellers)
· Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
· Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
· Passport size photograph
· For salaried individuals Latest salary slip and Form 16 for Self-employed individuals and Professionals IT returns for the last two financial years.
· Proof of Residential address, this can include home and establishment certificate/Lease deed/Telephone Bill.
· Proof of Professional Qualification (for self employed professionals)
· Copy of highest Professional degree held
Proof of official address (for members of business community),this can include shop and establishment certificate/Lease deed/Telephone Bill.
Margin
We do not insist on any margin amount.
Interest Rates
3.25% above SBAR Floating i.e.16.25% p.a.
Repayment
The loan is repayable in a maximum of 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security
No security is needed except in the case of members of business community where suitable third party guarantee is required.
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Do you want funds readily available to you whenever you desire to go on a vacation that you plan with your family or friends? SBI's Easy Travel Loan is the answer to your questions.
Enjoy the SBI Advantage:
· Low interest rate. Further, we charge interest on a daily reducing balance!!
· Low processing charges; only 1% of loan amount.
· Complete transparency; No hidden costs or administrative charges.
· No security required ……which means minimal documentation…something that you had always wanted.
· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan.
· Long repayment period of up to 48 months.
The Scheme
Purpose
To meet any kind of Travel expense such as cost of ticket, hotel stay, visa, airport tax, purchase of Basic Travel Quota, etc.
Eligibility
You are eligible if you are:
A State/Central Govt. Employee, employee of public sector undertaking/reputed profit making public limited company, reputed institutions, MNC with a minimum service experience of 2 years.
A self employed professional, with a minimum 2 years standing. You should be 60 years of age or less.
A Pensioner of PSU/Govt. (Central/State)/Public Sector Bank who has taken premature voluntary retirement and is 60 years of age or less
Agent of insurance/KVP/Mutual funds etc. with 3-5 years standing who is a tax assesse and whose gross annual income exceeds Rs. 2 lacs.
A trader, who has cash flows to repay the loans and can provide suitable third party guarantee, you should restrict your banking requirements to the branch where the loan is proposed to be taken.
Salient Features
Loan Amount
Your personal loan limit would be determined by your income and repayment capacity.
Minimum: Rs.24,000/-
Maximum : 12 times Net Monthly Income for salaried individuals and pensioners and 1 year's net annual income in case of self employed professionals with the under noted ceilings.
For Salaried individuals and self employed professionals: Rs.2.5 lacs (Rs.5 lacs in New Delhi, Chennai, Bangalore, Hyderabad, Mumbai and Kolkata and can be further increased to Rs.10 lacs if the self-employed professional maintains a satisfactorily conducted account with our branch or the salary of individual is regularly credited to their account with our Bank)
For pensioners: Rs.1.5 lacs
For members of business community: Rs.3.0 lac or 1 year’s net annual profit during the preceding financial year, whichever is lower.
Documents Required :
For existing bank customers
*Copy of Passport (for overseas travellers)
*Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
*Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
*Passport size photograph
*For salaried individuals Latest salary slip and Form 16, for Self-employed individuals and Professionals IT returns for the last two financial years.
*Proof of Professional Qualification (for self employed professionals)
*Copy of highest Professional degree held
For New Customer:
Important documents to be furnished while opening a Personal Loan Account:
· Proof of Identity
· Copy of Passport (for overseas travellers)
· Copies of Rail-tickets/Bus tickets/Air tickets and visas(for overseas travellers)
· Copy of consolidated invoice containing ticket charges, insurance charges, other sundry charges, etc.
· Passport size photograph
· For salaried individuals Latest salary slip and Form 16 for Self-employed individuals and Professionals IT returns for the last two financial years.
· Proof of Residential address, this can include home and establishment certificate/Lease deed/Telephone Bill.
· Proof of Professional Qualification (for self employed professionals)
· Copy of highest Professional degree held
Proof of official address (for members of business community),this can include shop and establishment certificate/Lease deed/Telephone Bill.
Margin
We do not insist on any margin amount.
Interest Rates
3.25% above SBAR Floating i.e.16.25% p.a.
Repayment
The loan is repayable in a maximum of 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security
No security is needed except in the case of members of business community where suitable third party guarantee is required.
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Loan to Employees to Purchase ESOPs Of Their Companies
Loan to Employees to Purchase ESOPs Of Their Companies:
Purpose:
To assist employees for purchasing shares of their own companies under the Employee Stock Option Scheme (ESOP).
Eligibility:
Permanent employees with minimum 2 years service.
Quantum of Loan/Margin:
Loan amount not to exceed 90% of the purchase price of the shares or Rs.20.00 lacs, whichever is lower with a cap of 24 months Net Monthly Income(NMI).
Rate of interest : 225 bps above SBAR presently @15.25% p.a.
Type of Loan : Demand Loan
Processing fee: Rs.2000 per application
Repayment :
Loan should be repaid within a period of 3 years in equated monthly instalments(EMIs), A moratorium period of upto 12 months can be allowed within this 3 year period, during which the interest component should be regularly serviced.
Other Terms and Conditions:
The shares shall be held in Demat account and lien marked in our favour. All the shares financed under ESOP to be taken as security. Employer company to give a certificate indicating DPID/Customer ID/ Name of account holders and number of shares held and confirming noting of our lien/charge on the holdings.
One of the branches at the centre where the principal office of the Company is situated will be designated to finanlise the arrangement with the Company.
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Purpose:
To assist employees for purchasing shares of their own companies under the Employee Stock Option Scheme (ESOP).
Eligibility:
Permanent employees with minimum 2 years service.
Quantum of Loan/Margin:
Loan amount not to exceed 90% of the purchase price of the shares or Rs.20.00 lacs, whichever is lower with a cap of 24 months Net Monthly Income(NMI).
Rate of interest : 225 bps above SBAR presently @15.25% p.a.
Type of Loan : Demand Loan
Processing fee: Rs.2000 per application
Repayment :
Loan should be repaid within a period of 3 years in equated monthly instalments(EMIs), A moratorium period of upto 12 months can be allowed within this 3 year period, during which the interest component should be regularly serviced.
Other Terms and Conditions:
The shares shall be held in Demat account and lien marked in our favour. All the shares financed under ESOP to be taken as security. Employer company to give a certificate indicating DPID/Customer ID/ Name of account holders and number of shares held and confirming noting of our lien/charge on the holdings.
One of the branches at the centre where the principal office of the Company is situated will be designated to finanlise the arrangement with the Company.
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SBI Reverse Mortgage Loan
(1) Objective of the scheme : To provide a source of additional income for senior citizens of India who own self-acquired and self-occupied house property in India.
(2) Eligibility :
a. No. of borrowers : Single or jointly with spouse in case of a living spouse.
b. Age of first borrower : Above 60 years
c. No. of surviving spouses on the date of sanction of loan :Should not be more than one. Borrowers will have to give an undertaking that they will not remarry during the currency of the loan. If the borrowers choose to remarry, the loan will be foreclosed.
d. Age of spouse : Above 58 years
e. Residence :
Borrower should be staying at self-acquired and self owned house /flat against which loan is being raised, as his permanent primary residence.
Mobile/Telephone/Credit Card bills/ Certificate from the Housing Society where the borrower is staying / Affidavit made before the Executive Magistrate may be accepted as proof of residence.
Borrowers will be required to inform the Bank when they cease to use this residence as their permanent residence.
f. Title of the Property :
Borrowers should have a clear and transferable title in their names.
Title verification and search report for a period of 30 years will be required to be obtained from the Bank’s empanelled advocate at borrowers’ cost.
g. Title of the property and number of borrowers :
Case– Title in single name and loan availed jointly with spouse.Title holder should make a Will in favour of the other spouse.
The Will should confirm that this is the last Will and that it supercedes all earlier Wills, if any. The borrower to undertake that no fresh Will shall be made during the currency of the loan.
h. Encumbrances : The property should be free from any encumbrances.
However in case of property purchased by availing Home Loan from SBI and mortgaged to SBI, it will be considered for RML, subject to closure of the Home Loan account out of the proceeds of RML.
i. Residual Life of property :
Should be at least 20 years in case of single borrower and 25 years in case of spouse being below 60 years of age.
Certificate from empanelled engineer/architect will be required to be obtained for this purpose, in addition to valuation of property.
(3) Security :
The RML shall be secured by way of equitable mortgage of residential property.
(4) Tenor :
Age of the younger of theborrowers
between 58 and upto 68 years:15 years
Age of the younger of the borrowers
above 68years:10 years
ORtill death ofthe borrower(s), whichever is earlier.
(5) Disbursement :
By credit to an SB account in the joint names of the borrowers operated by E or S.
(6) Periodicity of availing loan :
1.Monthly / quarterly payments
2.Lumpsum payment
(7) Quantum of loan :
The loan amount would be 90% of the value of property.Loan amount would include interest till maturity.The loan installments payable to the borrower(s) would be as under for a loan amount of Rs.1 lac (at interest rate of 10.75% p.a.):
Loan Tenor10 (years) : Monthly instalments (Rs.) 468 Quarterly instalments (Rs.) 1423
Lumpsum payment (Rs.) 36,022
Loan Tenor15 (years) : Monthly instalments (Rs.) 225 Quarterly instalments (Rs.) 687
Lumpsum payment (Rs.) 21,619
The maximum loan amount is kept at Rs.1 Crore (monthly payment Rs.22,500/- for 15 years) and minimum Rs.3 lacs (monthly payment Rs.675/- for 15 years).
Example of arriving at the monthly instalments:
Property value:Rs.10 lacs
Qualifying loan amount
(90% of property value):Rs.9 lacs
Tenor:15 years
Monthly instalment:Rs. 225 x 9 = Rs.2,025/-
(8) Purpose of Loan :
Supplementing income, any personal expenses, house repairs, etc.Loan amount should not be used for speculative, trading and business purposes.
(9) Repayment/Settlement :
The loan shall become due and payable only when the last surviving borrower dies or opts to sell the home, or permanently moves out of the home forto an institution or to relatives. Typically, a "permanent move" may generally mean that neither the borrower nor any other co-borrower has lived in the house continuously for one year or do not intend to live continuously. Bank may obtain such documentary evidence as may be deemed appropriate for the purpose.
Settlement of loan along with accumulated interest is to be met by the proceeds received out of sale of residential property or prepayment by borrowers and his next of kin.
The borrower(s) or his/her/their legal heirs / estate shall be provided with the first right to settle the loan along with accumulated interest, without sale of property.
A reasonable amount of time, say up to 6 months, may be provided when RML repayment is triggered, for house to be sold.
The balance surplus (if any), remaining after settlement of the loan with accrued interest and expenses, shall be passed on to the borrower or the estate of the borrower/legal heirs.
Borrowers will be required to submit annual life certificates in the month of November every year. This certificate will also include clauses regarding marital status, and permanent residence of the borrowers, in addition to the balance confirmation as on 31st October of that year.
List of legal heirs will be obtained at the time of sanction of loan. With aview toavoidingdisputes at the time of settlement of loan amount by legal heirs, specific instructions about inheritance of the property and payment of balance amount, if any,of the sale proceeds after settling the Bank’s dues , will be required to be part of the borrowers’ Will.
(10) Foreclosure
The loan shall be liable for foreclosure due to occurrence of the following events of default.
oIf the borrower(s) has/have not stayed in the property for a continuous period of one year
oIf the borrower(s) fail(s) to pay property taxes or maintain and repair the residential property or fail(s) to keep the home insured, the Bank reserves the right to insist on repayment of loan by bringing the
oResidential property to sale and utilizing the sale proceeds to meet the outstanding balance of principal and interest.
oIf borrower(s) declare himself/herself/themselves bankrupt.
oIf the residential property so mortgaged to the Bank is donated or abandoned by the borrower(s).
oIf the borrower(s) effect changes in the residential property that affect the security of the loan for the lender. For example: renting out part or all of the house by creating a tenancy right; adding a new owner to the house's title; changing the house's zoning classification; or creating further encumbrance on the property either by way of taking out new debt against the residential property or alienating the interest by way ofa gift or will.
Due to perpetration of fraud or misrepresentation by the borrower(s).
If the government under statutory provisions, seeks to acquire the residential property for public use.
If the government condemns the residential property (for example, for health or safety reasons).
Any other event such as re-marriage of the borrower(s) etc which shall have an adverse impact on the loan settlement prospects.
Borrowers do not accept the revised terms on revaluation of property and interest reset at the end of every 5 years from sanction.
Any violation of the terms and conditions of RML.
(11)Pre-payment of loan :
·The borrower(s) will have option to prepay the loan at any time during the loan tenor.
·There will be no prepayment penalty.
(12) Valuation/Revaluation of property and option for the Bank to adjust payments.
·After the initial valuation to determine the loan amount, subsequent revaluations will be done at intervals of 5 years.
·The Bank shall have the option to revise the periodic/lump-sum amount every 5 years along with revaluation.In the scenario of fall in property prices, the Bank may decide to revise the amount at any time earlier than 5 years. At every stage of revision, it should be ensured that the Loan to Value ratio does not exceed 90% at maturity.
·If the Borrower does not accept the revised terms, no further payments will be effected by the Bank. Interest at the rate agreed before the review will continue to accrue on the outstanding amount of the loan. The accumulated principal and interest shall become due and payable as mentioned in clauses 9 and 10.
(13)Interest Rate : 10.75% p.a. (Fixed) subject to reset every 5 years.
(14) Processing fee : 0.50% of the loan amount, minimum Rs.500/- and maximum of Rs.10,000/-
(15) Right of Rescission :
As a customer-friendly gesture and in keeping with international best practices, after the documents have been executed and loan transaction finalized, borrowers will have right of rescission up to seven days to cancel the transaction. If the loan amount has been disbursed, the entire loan amount will need to be repaid by the borrower within this period. However, interest for the period may be waived. Processing fee shall not be refunded in such cases.
(16) Insurance and maintenance of house property :
house property will be insured by the borrower at his cost against fire, earthquake and other calamities.
The borrower shall ensure to pay all taxes, charges etc.
Bank reserves the right to pay insurance premium, taxes, charges etc. by reducing the loan amount to that extent.
The borrower shall maintain the property in good condition.
(17) Operational issues:
a. Type of facility :
Non-renewable Overdraft without ledger folio charges.No cheque book / debit card will be linked to this account.
b. Availability of product : All branches.
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SBI - Short Term Housing Loan
SBI - Short Term Housing Loan
Home is where the heart is! At SBI, we know this better than most - the toil and sweat that goes into building/buying a house and the subsequent pride and joy of owning one.
This is why our Housing loan schemes are designed to make it simple for you to make a choice at least as far as financing goes!
No hidden clauses or costs or unnecessary documentation. Our loans have the longest tenors and our repayment terms are amongst the most flexible. We offer you a totally transparent process and yes, there is no fine print! We even give you an in-principle approval prior to identifying a house/flat, relieving you of the tension of anticipating the approved amount!
Last, but not the least, we have specialized Housing loan branches to serve your needs better.
Our newly opened Personal Banking branches also specialise in this. Click here for a list of our PBBs
Our special Short Term Housing Loan Scheme for loans of repayment period upto 5 years carries still lower rates of interest.
The Scheme
You can avail of a housing loan for:
* Purchase or construction of a new house/ flat.
* Purchase an existing (old) house/ flat.
* Extension, repair, renovation or alteration of a house/ flat.
* Purchase a plot of land meant for construction of a dwelling unit.
Enjoy the SBI Advantage
Why should you opt for a housing loan from State Bank of India?
* Excellent service and lower costs.
A quick survey of similar schemes available elsewhere and you will find that SBI housing loans offer you the..
* Lowest Equated Monthly Instalments (EMI)
Lowest interest rates, currently between 7.50% pa and 8.50% p.a. on daily reducing balances
A nominal processing fee of 0.25% will be charged. Compare this with the 1.5% - 2% charged by others.
* No hidden costs or administrative costs
* In-principle approval given prior to your identifying a house /flat, giving you flexibility in choice.
* Complete transparency - When we say our rate of interest is 8% p.a. you pay only 8%. When others say 8.5%, you may be paying even 10% p.a., as interest may be levied even on the amounts you have already repaid. This is because we apply interest on a daily reducing balance while housing finance companies/ other banks mostly apply interest on annual reducing balance.
Always compare the Equated Monthly Instalments (EMI) and the total repayments you would be required to make rather than rates of interest.
Salient Features
Purpose
You can take a loan for:
# Purchase or construction of a new house/ flat.
# Purchase an existing (old) house/ flat.
# Extension, repair, renovation or elteration of a house/ flat.
# Purchase a plot of land meant for construction of a dwelling unit.
# Repayment of housing loan availed from other banks/financial institutions to avail of the benefit of our low rates of interest.
Eligibility
You can avail of an SBI Housing loan if you are over 21 years of age and have steady source of income.
Documents Required
What are the documents that I need to provide?
You will need to furnish the following documents along with the completed application form:
* Passport size photograph
* Proof of residence
(This applies only to new or non-bank customers, and could be either a PAN identity card, voter identification card or passport)
* Sale Deed/ Agreement of Sale
* Bank account Statement or passbook, for the last six months
* For employees or people in service, you also need to provide:
* Salary certificate and other information, if any, about your repayment capacity
* Form 16 or a copy of the Income Tax Returns for the last 2 years
* For self employed and other IT assessees:
* IT returns for the last 3 years· Receipts of advance tax paid
* Any other information about your repayment capacity
In addition to the above mandatory documents, you are also required to furnish one or more of the following documents wherever applicable:·
* Letter of allotment from the housing board or society
* Copy of the approved plan
* Permission for construction
* Copy of the relative order in the case of conversion of agricultural land. (not required where the house/flat has been constructed by an approved builder)
* In the case of an old existing house, you will need to get a valuation certificate from approved valuers as well as a certificate from a government approved architect /structural engineer regarding the condition of the flat/house as well as its remaining life. This will give you the comfort of knowing that the property you are purchasing is of sound construction.
Loan Amount
While there is no ceiling to the amount of loan we sanction the actual loan amount is determined on the basis of repayment capacity taking into account your income, age, assets and liabilities. As a rule of thumb - Upto 60 times the net monthly income will be sanctioned depending upon your age. Usually, your spouse's income and the expected rental would also be taken into account.
Margin
Your contribution (margin) for the housing loan is as under: 15% for new house/ flat 20% for old house/ flat 20% for repairs and renovation.
Interest
Avail of the lowest interest rates in the market. We give you the option of locking in the low interest rates for the full tenure of the loan or keeping your interest option open by linking it to the Bank's Term Lending rate. Therefore, you could either avail the loan at a fixed rate of interest, which stays constant throughout the loan period, or at a floating rate of interest where the interest changes (increases or decreases) depending on changes in the Bank's Term Lending Rate.
Click here to view the interest rates.
Repayment
In 60 Equated Monthly Instalments.Our repayment terms are amongst the most flexible in the market. Depending on your age and capacity to repay, you could pay back the loan in easy installments.You may prepay at will without attracting any penalty, or pay more than your stipulated monthly installment at any time, depending upon availability of funds with you. However, in case of takeover of loan by other banks/finance companies, prepayment penalty of 2% may be levied.
Security
As per bank's extant instructions.
Take Over of Loan
If you have already taken a housing loan from any other bank/financial institution and wish to benefit from our low rates of interest, we can take over your existing loan.
In-principle Approval
We also give in-principle approvals based on your income and capacity to repay, to enable you to identify a house/ flat with full confidence.
All loans are at the sole discretion of the Bank.
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Home is where the heart is! At SBI, we know this better than most - the toil and sweat that goes into building/buying a house and the subsequent pride and joy of owning one.
This is why our Housing loan schemes are designed to make it simple for you to make a choice at least as far as financing goes!
No hidden clauses or costs or unnecessary documentation. Our loans have the longest tenors and our repayment terms are amongst the most flexible. We offer you a totally transparent process and yes, there is no fine print! We even give you an in-principle approval prior to identifying a house/flat, relieving you of the tension of anticipating the approved amount!
Last, but not the least, we have specialized Housing loan branches to serve your needs better.
Our newly opened Personal Banking branches also specialise in this. Click here for a list of our PBBs
Our special Short Term Housing Loan Scheme for loans of repayment period upto 5 years carries still lower rates of interest.
The Scheme
You can avail of a housing loan for:
* Purchase or construction of a new house/ flat.
* Purchase an existing (old) house/ flat.
* Extension, repair, renovation or alteration of a house/ flat.
* Purchase a plot of land meant for construction of a dwelling unit.
Enjoy the SBI Advantage
Why should you opt for a housing loan from State Bank of India?
* Excellent service and lower costs.
A quick survey of similar schemes available elsewhere and you will find that SBI housing loans offer you the..
* Lowest Equated Monthly Instalments (EMI)
Lowest interest rates, currently between 7.50% pa and 8.50% p.a. on daily reducing balances
A nominal processing fee of 0.25% will be charged. Compare this with the 1.5% - 2% charged by others.
* No hidden costs or administrative costs
* In-principle approval given prior to your identifying a house /flat, giving you flexibility in choice.
* Complete transparency - When we say our rate of interest is 8% p.a. you pay only 8%. When others say 8.5%, you may be paying even 10% p.a., as interest may be levied even on the amounts you have already repaid. This is because we apply interest on a daily reducing balance while housing finance companies/ other banks mostly apply interest on annual reducing balance.
Always compare the Equated Monthly Instalments (EMI) and the total repayments you would be required to make rather than rates of interest.
Salient Features
Purpose
You can take a loan for:
# Purchase or construction of a new house/ flat.
# Purchase an existing (old) house/ flat.
# Extension, repair, renovation or elteration of a house/ flat.
# Purchase a plot of land meant for construction of a dwelling unit.
# Repayment of housing loan availed from other banks/financial institutions to avail of the benefit of our low rates of interest.
Eligibility
You can avail of an SBI Housing loan if you are over 21 years of age and have steady source of income.
Documents Required
What are the documents that I need to provide?
You will need to furnish the following documents along with the completed application form:
* Passport size photograph
* Proof of residence
(This applies only to new or non-bank customers, and could be either a PAN identity card, voter identification card or passport)
* Sale Deed/ Agreement of Sale
* Bank account Statement or passbook, for the last six months
* For employees or people in service, you also need to provide:
* Salary certificate and other information, if any, about your repayment capacity
* Form 16 or a copy of the Income Tax Returns for the last 2 years
* For self employed and other IT assessees:
* IT returns for the last 3 years· Receipts of advance tax paid
* Any other information about your repayment capacity
In addition to the above mandatory documents, you are also required to furnish one or more of the following documents wherever applicable:·
* Letter of allotment from the housing board or society
* Copy of the approved plan
* Permission for construction
* Copy of the relative order in the case of conversion of agricultural land. (not required where the house/flat has been constructed by an approved builder)
* In the case of an old existing house, you will need to get a valuation certificate from approved valuers as well as a certificate from a government approved architect /structural engineer regarding the condition of the flat/house as well as its remaining life. This will give you the comfort of knowing that the property you are purchasing is of sound construction.
Loan Amount
While there is no ceiling to the amount of loan we sanction the actual loan amount is determined on the basis of repayment capacity taking into account your income, age, assets and liabilities. As a rule of thumb - Upto 60 times the net monthly income will be sanctioned depending upon your age. Usually, your spouse's income and the expected rental would also be taken into account.
Margin
Your contribution (margin) for the housing loan is as under: 15% for new house/ flat 20% for old house/ flat 20% for repairs and renovation.
Interest
Avail of the lowest interest rates in the market. We give you the option of locking in the low interest rates for the full tenure of the loan or keeping your interest option open by linking it to the Bank's Term Lending rate. Therefore, you could either avail the loan at a fixed rate of interest, which stays constant throughout the loan period, or at a floating rate of interest where the interest changes (increases or decreases) depending on changes in the Bank's Term Lending Rate.
Click here to view the interest rates.
Repayment
In 60 Equated Monthly Instalments.Our repayment terms are amongst the most flexible in the market. Depending on your age and capacity to repay, you could pay back the loan in easy installments.You may prepay at will without attracting any penalty, or pay more than your stipulated monthly installment at any time, depending upon availability of funds with you. However, in case of takeover of loan by other banks/finance companies, prepayment penalty of 2% may be levied.
Security
As per bank's extant instructions.
Take Over of Loan
If you have already taken a housing loan from any other bank/financial institution and wish to benefit from our low rates of interest, we can take over your existing loan.
In-principle Approval
We also give in-principle approvals based on your income and capacity to repay, to enable you to identify a house/ flat with full confidence.
All loans are at the sole discretion of the Bank.
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SBI - Home Loans
WELCOME to SBI Home Loans
Apply SBI Home Loan Online
"THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards along with the MOST PREFERRED BANK AWARD in a survey conducted by TV 18 in association with AC Nielsen-ORG Marg in 21 cities across India.
SBI HOME LOANS now offers Interest Rates concessions on GREEN HOMES in accordance with SBI's commitment to Environment protection.
SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India.
Best Practices followed in SBI mentioned below will tell you why it makes sense to do business with State Bank of India
Best practices followed in SBI
People dealing with you End to End service by Permanent employees of SBI who are accountable to you.
Place SBI branch of your choice will service your loan account. You can always meet our employees face to face.
Price Complete transparency.
Interest charged on the daily reducing balance.
Prepayment charges No penalty for prepayments made, out of bonafide savings or windfall gains for which evidence is produced.
Costs hidden in fine print No hidden costs
Transparency Complete transparency. All the features of our product, including interest rates, are in the public domain.
Unique features:
* 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 upto Rs.40 Lac.
*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
Package of exclusive benefits:
Complimentary international ATM-Debit card
Complimentary SBI Classic/ International Credit Card.
Option for internet-banking
Concessional package under ‘Credit Khazana’ for prospective Auto Loan, Student Loan, Personal Loan borrowers whose accounts are conducted satisfactorily
50% concession in charges in respect of all personal remittances/ collection of outstation cheques
Personal loan at attractive rates under SBI Home Plus scheme tailored exclusively for SBI Home Loan customers.
Purpose :
Purchase/ Construction of House/ Flat
Purchase of a plot of land for construction of House
Extension/ repair/ renovation/ Home Improvement Loan/ Flat
Purchase of Furnishings and Consumer Durables as a part of the project cost.
Takeover of an existing loan from other Banks/ Housing Finance Companies.
Eligibility :
Minimum age 18 years as on the date of sanction
Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid.
Availability of sufficient, regular and continuous source of income for servicing the loan repayment.
Loan Amount :
40 to 60 times of NMI, depending on repayment capacity as % of NMI as under -
Net Annual Income EMI/NMI Ratio
Upto Rs.2 lacs 40%
Above Rs.2 lac to Rs. 5 lacs 50%
Above Rs. 5 lacs 55%
To enhance loan eligibility you have option to add:
1. Income of your spouse/ your son/ daughter living with you, provided they have a steady income and his/ her salary account is maintained with SBI.
2. Expected rent accruals (less taxes, cess, etc.) if the house/ flat being purchased is proposed to be rented out.
3. Depreciation, subject to some conditions.
4. Regular income from all sources.
Margin
Purchase/ Construction of a new House/ Flat/ Plot of land:
25% for loans up to Rs.30 Lacs,
30% for loans above Rs.30 lacs and upto Rs.1 cr.
40% for loans above Rs.1 cr.
Repairs/ Renovation of an existing House/ Flat: 20%
Interest
Processing Fee
0.50% of Loan amount with a cap of Rs.10,000/-(including Service Tax)
Pre-closure Penalty
No penalty if the loan is preclosed from own savings/windfall gains for which documentary evidence is produced by the customer.
In case, such proof is not produced by the borrower, penalty @2% on the amount prepaid in excess of normal EMI dues shall be levied if the loan is preclosed within 3 years from the date of commencement of repayment.
Security :
Equitable mortgage of the property.
Other tangible security of adequate value like NSCs, Life Insurance policies etc., if the property cannot be mortgaged.
Maximum Repayment Period
For applicants upto 45 years of age: 25 years
For applicants over 45 years of age: 15 years
Moratorium
Upto 18 months from the date of disbursement of first instalment or 2 months after final disbursement in respect of loans for construction of new house/ flat (moratorium period will be included in the maximum repayment period)
Disbursement :
In lump sum direct in favour of the builder/ seller in respect of outright purchase.
In stages depending upon the actual progress of work in respect of construction of house/ flat etc.
Documents:
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
‘SBI-Flexi’ Home Loans
A customized product designed to enable borrowers to hedge their Home Loan against unfavourable movement in interest rates. The product gives you a one time irrevocable option to choose one of the three customized combinations of fixed and floating interest rates and also to choose the order in which the fixed and floating rate will be availed.
Minimum Loan Amount: Rs.5 lacs
(Other terms and conditions – as applicable to regular Home Loans)
‘SBI-Maxgain’ Home Loans
An innovative and customer-friendly product to enable you to earn optimal yield on your savings and minimize interest burden on Home Loans, with no extra cost.
The loan is granted as an Overdraft facility with the added flexibility for you to operate your Home Loan Account like your SB or Current Account.
The product serves to minimize your interest cost by enabling you to park your surplus funds in ‘SBI-Maxgain’ (with the benefit to withdraw the surplus funds whenever you require), specially in the wake of low yields from other deposit/ investment avenues.
Minimum Loan Amount: Rs.5 lacs
(Other terms and conditions – as applicable to regular Home Loans)
‘SBI-Realty’ Home Loans
A unique product if you are on the look out for a loan to purchase a plot of land for house construction. The loan is available for a maximum amount of Rs.1 crore* and with a comfortable repayment period of upto 25 years.
You are also eligible to avail another Housing Loan for construction of house on the plot financed above with the benefit of running both the loans concurrently.
(House construction should commence within 2 years from the date of availment of ‘SBI-Realty’ Housing Loan)
(Other terms and conditions – as applicable to regular Home Loans)
(* relaxation considered on case to case basis)
‘SBI-Freedom’ Home Loans
A revolutionary product designed for customers who are on the look out for a source of finance for a property they want to invest in without mortgaging the same. All you have to do is pledge any financial security that you have and you will get a Home Loan for your dream home.
A must-take for those who do not want to pay stamp duty for mortgage of their property or go through the hassles of creation of mortgage.
You also have an option to take the loan by way of mortgage of the property and pledge financial securities in lieu of margin money.
Repayment is highly customized, giving you the option to repay through regular EMIs or through maturity proceeds of the securities pledged.
(Other terms and conditions – as applicable to regular Home Loans)
‘SBI-OPTIMA’ ADDITIONAL HOME LOANS
‘SBI-HOMELINE’ SPECIAL PERSONAL LOANS
Innovative and value added products extended to existing Home loan borrowers with a satisfactory repayment record of 3 years and whose loan is Standard Asset, with a view to reinforce the customer loyalty and to maintain long term relationship with the borrowers. In case of take-over of Home Loans from other Banks/HFCs, the borrower should have fulfilled the above conditions with the present Bank/HFC.
Purpose :
‘SBI-Optima’ Additional Home Loans
To meet expenditure towards major repair, renovation, addition to their house/flat, purchase of furniture, fixtures and consumer durables
‘SBI-Homeline’ Special Personal Loans
General purpose loan to meet expenditure to meet forseen/unforeseen contingencies
Eligibility :
‘SBI-Optima’ Additional Home Loans
18 times NMI (for salaried borrowers)/
1 ½ times NAI ( for others) or
(i)25% of the original project cost of house/flat (ii) 85% of the cost of repairs etc. or (iii) gap between 85% of the current market price of flat/house and actual outstanding loan dues ,
whichever is lower (EMI/NMI ratio of all loans should not exceed 60%)
‘SBI-Homeline’ Special Personal Loans
18 times NMI (for salaried borrowers)/
1 ½ times NAI (for others)
Interest Rates/processing fee
‘SBI-Optima’ Additional Home Loans
As applicable to Home Loans
‘SBI-Homeline’ Special Personal Loans
Interest rates 50 bps above rates applicable to the repayment tenure (floating rates only)
Processing fee : 0.50% of the loan amount (including service tax)
Other Salient Features :
* Inbuilt provision for availment of the loans on the expiry of each bloc of 5 years, the first bloc commencing on the expiry of 5 years from the date of sanction of original Home Loan.
* Original Home Loan and all ‘SBI-Optima’ Home Loans/’SBI-HomeLine’ Personal Loans can run concurrently
* Comfortable repayment obligations – Tenure of the loans equal to the residual maturity of the original Home Loans -
‘PRASHASAN PLUS’, ‘TEACHER PLUS’ AND ‘OIL PLUS’
The above ‘ plus’ schemes offer concessional interest rate of 0.25% below the applicable interest rates on Home Loans to niche client groups like Government Employees, Teachers, employees of public sector oil companies etc.
For more information you may please call our contact centre on toll free number 1800 11 22 11
This information is brought to you by Harmony Infotech.
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Apply SBI Home Loan Online
"THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards along with the MOST PREFERRED BANK AWARD in a survey conducted by TV 18 in association with AC Nielsen-ORG Marg in 21 cities across India.
SBI HOME LOANS now offers Interest Rates concessions on GREEN HOMES in accordance with SBI's commitment to Environment protection.
SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of State Bank of India.
Best Practices followed in SBI mentioned below will tell you why it makes sense to do business with State Bank of India
Best practices followed in SBI
People dealing with you End to End service by Permanent employees of SBI who are accountable to you.
Place SBI branch of your choice will service your loan account. You can always meet our employees face to face.
Price Complete transparency.
Interest charged on the daily reducing balance.
Prepayment charges No penalty for prepayments made, out of bonafide savings or windfall gains for which evidence is produced.
Costs hidden in fine print No hidden costs
Transparency Complete transparency. All the features of our product, including interest rates, are in the public domain.
Unique features:
* 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 upto Rs.40 Lac.
*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
Package of exclusive benefits:
Complimentary international ATM-Debit card
Complimentary SBI Classic/ International Credit Card.
Option for internet-banking
Concessional package under ‘Credit Khazana’ for prospective Auto Loan, Student Loan, Personal Loan borrowers whose accounts are conducted satisfactorily
50% concession in charges in respect of all personal remittances/ collection of outstation cheques
Personal loan at attractive rates under SBI Home Plus scheme tailored exclusively for SBI Home Loan customers.
Purpose :
Purchase/ Construction of House/ Flat
Purchase of a plot of land for construction of House
Extension/ repair/ renovation/ Home Improvement Loan/ Flat
Purchase of Furnishings and Consumer Durables as a part of the project cost.
Takeover of an existing loan from other Banks/ Housing Finance Companies.
Eligibility :
Minimum age 18 years as on the date of sanction
Maximum age limit for a Home Loan borrower is fixed at 70 years, i.e. the age by which the loan should be fully repaid.
Availability of sufficient, regular and continuous source of income for servicing the loan repayment.
Loan Amount :
40 to 60 times of NMI, depending on repayment capacity as % of NMI as under -
Net Annual Income EMI/NMI Ratio
Upto Rs.2 lacs 40%
Above Rs.2 lac to Rs. 5 lacs 50%
Above Rs. 5 lacs 55%
To enhance loan eligibility you have option to add:
1. Income of your spouse/ your son/ daughter living with you, provided they have a steady income and his/ her salary account is maintained with SBI.
2. Expected rent accruals (less taxes, cess, etc.) if the house/ flat being purchased is proposed to be rented out.
3. Depreciation, subject to some conditions.
4. Regular income from all sources.
Margin
Purchase/ Construction of a new House/ Flat/ Plot of land:
25% for loans up to Rs.30 Lacs,
30% for loans above Rs.30 lacs and upto Rs.1 cr.
40% for loans above Rs.1 cr.
Repairs/ Renovation of an existing House/ Flat: 20%
Interest
Processing Fee
0.50% of Loan amount with a cap of Rs.10,000/-(including Service Tax)
Pre-closure Penalty
No penalty if the loan is preclosed from own savings/windfall gains for which documentary evidence is produced by the customer.
In case, such proof is not produced by the borrower, penalty @2% on the amount prepaid in excess of normal EMI dues shall be levied if the loan is preclosed within 3 years from the date of commencement of repayment.
Security :
Equitable mortgage of the property.
Other tangible security of adequate value like NSCs, Life Insurance policies etc., if the property cannot be mortgaged.
Maximum Repayment Period
For applicants upto 45 years of age: 25 years
For applicants over 45 years of age: 15 years
Moratorium
Upto 18 months from the date of disbursement of first instalment or 2 months after final disbursement in respect of loans for construction of new house/ flat (moratorium period will be included in the maximum repayment period)
Disbursement :
In lump sum direct in favour of the builder/ seller in respect of outright purchase.
In stages depending upon the actual progress of work in respect of construction of house/ flat etc.
Documents:
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
‘SBI-Flexi’ Home Loans
A customized product designed to enable borrowers to hedge their Home Loan against unfavourable movement in interest rates. The product gives you a one time irrevocable option to choose one of the three customized combinations of fixed and floating interest rates and also to choose the order in which the fixed and floating rate will be availed.
Minimum Loan Amount: Rs.5 lacs
(Other terms and conditions – as applicable to regular Home Loans)
‘SBI-Maxgain’ Home Loans
An innovative and customer-friendly product to enable you to earn optimal yield on your savings and minimize interest burden on Home Loans, with no extra cost.
The loan is granted as an Overdraft facility with the added flexibility for you to operate your Home Loan Account like your SB or Current Account.
The product serves to minimize your interest cost by enabling you to park your surplus funds in ‘SBI-Maxgain’ (with the benefit to withdraw the surplus funds whenever you require), specially in the wake of low yields from other deposit/ investment avenues.
Minimum Loan Amount: Rs.5 lacs
(Other terms and conditions – as applicable to regular Home Loans)
‘SBI-Realty’ Home Loans
A unique product if you are on the look out for a loan to purchase a plot of land for house construction. The loan is available for a maximum amount of Rs.1 crore* and with a comfortable repayment period of upto 25 years.
You are also eligible to avail another Housing Loan for construction of house on the plot financed above with the benefit of running both the loans concurrently.
(House construction should commence within 2 years from the date of availment of ‘SBI-Realty’ Housing Loan)
(Other terms and conditions – as applicable to regular Home Loans)
(* relaxation considered on case to case basis)
‘SBI-Freedom’ Home Loans
A revolutionary product designed for customers who are on the look out for a source of finance for a property they want to invest in without mortgaging the same. All you have to do is pledge any financial security that you have and you will get a Home Loan for your dream home.
A must-take for those who do not want to pay stamp duty for mortgage of their property or go through the hassles of creation of mortgage.
You also have an option to take the loan by way of mortgage of the property and pledge financial securities in lieu of margin money.
Repayment is highly customized, giving you the option to repay through regular EMIs or through maturity proceeds of the securities pledged.
(Other terms and conditions – as applicable to regular Home Loans)
‘SBI-OPTIMA’ ADDITIONAL HOME LOANS
‘SBI-HOMELINE’ SPECIAL PERSONAL LOANS
Innovative and value added products extended to existing Home loan borrowers with a satisfactory repayment record of 3 years and whose loan is Standard Asset, with a view to reinforce the customer loyalty and to maintain long term relationship with the borrowers. In case of take-over of Home Loans from other Banks/HFCs, the borrower should have fulfilled the above conditions with the present Bank/HFC.
Purpose :
‘SBI-Optima’ Additional Home Loans
To meet expenditure towards major repair, renovation, addition to their house/flat, purchase of furniture, fixtures and consumer durables
‘SBI-Homeline’ Special Personal Loans
General purpose loan to meet expenditure to meet forseen/unforeseen contingencies
Eligibility :
‘SBI-Optima’ Additional Home Loans
18 times NMI (for salaried borrowers)/
1 ½ times NAI ( for others) or
(i)25% of the original project cost of house/flat (ii) 85% of the cost of repairs etc. or (iii) gap between 85% of the current market price of flat/house and actual outstanding loan dues ,
whichever is lower (EMI/NMI ratio of all loans should not exceed 60%)
‘SBI-Homeline’ Special Personal Loans
18 times NMI (for salaried borrowers)/
1 ½ times NAI (for others)
Interest Rates/processing fee
‘SBI-Optima’ Additional Home Loans
As applicable to Home Loans
‘SBI-Homeline’ Special Personal Loans
Interest rates 50 bps above rates applicable to the repayment tenure (floating rates only)
Processing fee : 0.50% of the loan amount (including service tax)
Other Salient Features :
* Inbuilt provision for availment of the loans on the expiry of each bloc of 5 years, the first bloc commencing on the expiry of 5 years from the date of sanction of original Home Loan.
* Original Home Loan and all ‘SBI-Optima’ Home Loans/’SBI-HomeLine’ Personal Loans can run concurrently
* Comfortable repayment obligations – Tenure of the loans equal to the residual maturity of the original Home Loans -
‘PRASHASAN PLUS’, ‘TEACHER PLUS’ AND ‘OIL PLUS’
The above ‘ plus’ schemes offer concessional interest rate of 0.25% below the applicable interest rates on Home Loans to niche client groups like Government Employees, Teachers, employees of public sector oil companies etc.
For more information you may please call our contact centre on toll free number 1800 11 22 11
This information is brought to you by Harmony Infotech.
Contact us if you are looking for a Flash Website.
SBI Loans - Personal Loan
SBI SARAL PERSONAL LOAN
Do you want funds readily available to you whenever you desire or need, be it a sudden vacation that you plan with your family or urgent funds required for medical treatment? SBI Saral - Personal Loan is the answer to your questions.
Enjoy the SBI Advantage :
· Low interest rates. Further, we charge interest on a daily reducing balance!!
· Low processing charges; only 2%-3% of loan amount
· No hidden costs or administrative charges.
· No security required ……which means minimal documentation…something that you had always wanted.
· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan before 6 months)
· Long repayment period of up to 48 months.
The Scheme Purpose
The loan will be granted for any legitimate purpose whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability, such as marriage of son/daughter, defraying educational expenses of wards, meeting margins for purchase of assets etc.)
Eligibility
You are eligible if you are a Salaried individual of good quality corporate, self employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing.
Salient Features
Loan Amount
Your personal loan limit would be determined by your income and repayment capacity.
Minimum : Rs.24,000/- in metro and urban centres
Rs.10,000/- in rural/semi-urban centres
Maximum : 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centres
Documents Required
Important documents to be furnished while opening a Personal Loan Account:
For existing bank customers
Passport size photograph
From salaried individuals
Latest salary slip and Form 16
Margin
We do not insist on any margin amount.
Interest Rates
4.25% above SBAR FLoating i.e. 17.25% p.a.
Repayment
The loan is repayable in 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security NIL
Processing Fee
Processing charges are 2-3% of the loan amount. This is amongst the lowest fees in the industry. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.
This information is brought to you by Harmony Infotech. Contact us if you are looking for a Free Website.
Access this facility from over 3000 branches across the country and confidently face the challenge of meeting any kind of personal expenses!!
Enjoy the SBI Advantage :
· Low interest rates. Further, we charge interest on a daily reducing balance!!
· Low processing charges; only 2%-3% of loan amount
· No hidden costs or administrative charges.
· No security required ……which means minimal documentation…something that you had always wanted.
· No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan (1% of the loan amount will be charged if you repay the loan before 6 months)
· Long repayment period of up to 48 months.
The Scheme Purpose
The loan will be granted for any legitimate purpose whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability, such as marriage of son/daughter, defraying educational expenses of wards, meeting margins for purchase of assets etc.)
Eligibility
You are eligible if you are a Salaried individual of good quality corporate, self employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing.
Salient Features
Loan Amount
Your personal loan limit would be determined by your income and repayment capacity.
Minimum : Rs.24,000/- in metro and urban centres
Rs.10,000/- in rural/semi-urban centres
Maximum : 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centres
Documents Required
Important documents to be furnished while opening a Personal Loan Account:
For existing bank customers
Passport size photograph
From salaried individuals
Latest salary slip and Form 16
Margin
We do not insist on any margin amount.
Interest Rates
4.25% above SBAR FLoating i.e. 17.25% p.a.
Repayment
The loan is repayable in 48 EMI. You are allowed to pay more than the EMI if you wish to, without attracting any prepayment penalty.
Security NIL
Processing Fee
Processing charges are 2-3% of the loan amount. This is amongst the lowest fees in the industry. Processing fees have to be paid upfront. There are no hidden costs or other administrative charges.
This information is brought to you by Harmony Infotech. Contact us if you are looking for a Free Website.
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