Presentation home loan products
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Transcript of Presentation home loan products
HOME LOAN PRODUCT VARIANTS
RELATED HOME LOAN PRODUCTS
HOME LOAN PRODUCTS
HOME LOAN PRODUCTS - VARIANTS
Higher Home Loan eligibility with flexible repayment option.
Up to 1.2 times higher loan eligibility compared to loan eligibility under normal
Home Loan schemes available to working professionals/executives. Loan
amount, however, must be Rs.20 Lacs or higher.
Salaried applicants with minimum 2 year experience and aged between 21-45
years will be eligible to avail of SBI Flexi Pay Home Loan.
To neutralize the impact of such additional loan on monthly EMIs, customers
have the option of paying only interest during the moratorium (pre-EMI) period,
and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the
subsequent years.
Option of selecting moratorium of up to 36-60 months. Only interest to be repaid
during the selected moratorium period.
Longer repayment of 25 to 30 years is available under the scheme. However,
customers will be free to make prepayments towards their Home Loan without
any pre-payment penalty.
(Other terms and conditions are as applicable to regular Home Loan Scheme)
SBI FLEXIPAY HOME LOAN
An innovative and customer-friendly product enabling the customers to
earn optimal yield on their savings by reducing interest burden on Home
Loans, with no extra cost.
The loan is sanctioned as an Overdraft with added flexibility to operate
the Home Loan Account like SB or Current Account. Bank also provides
Cheque Book/Net Banking facility for the purpose.
The product enables customers to park their surplus funds/savings in •
SBI Maxgain• (with an option to withdraw whenever required), especially
in the wake of low yields on other Deposit/Investment products.
Loan Amount : Minimum : Rs.20 Lacs
Maximum : No Cap
(Other terms and conditions are as applicable to regular Home Loan Scheme)
SBI MAXGAIN HOME LOAN AS AN OVERDRAFT
Eligibility:
Non Resident Indians (NRIs) or Persons of Indian Origin(PIOs)
The applicants should have a regular source of income.
Minimum employment tenure in India/Abroad should not be
less than 2 years.
Loan Amount : Minimum : Rs.3 Lacs
Maximum: No upper cap.
(Other terms and conditions are as applicable to regular Home Loan Scheme)
NRI HOME LOANS
HOME LOANS TO NON RESIDENT INDIANS (NRIs) & PERSONS OF INDIAN ORIGIN (PIOs)
SBI Realty provides an opportunity to the customer to
purchase a plot for construction of house.
The construction of house should commence within 2 years
from the date of availment of •SBI Realty Loan•.
Customers are also eligible to avail another Home Loan for
construction of house on the plot financed under the SBI
Realty with the benefit of running both the loans concurrently.
Loan Amount : Maximum: Rs.10 Crores
Repayment Period : Up to 15 years
(Other terms and conditions are as applicable to regular Home Loan Scheme)
SBI REALTY HOME LOANS FOR PURCHASE OF PLOT FOR CONSTRUCTION
OF A DWELLING UNIT
The SBI PAL provides sanction of Home Loan limits to the customers
before finalization of the property which enables them to negotiate with
the Builder/Seller confidently.
The loan eligibility will be assessed on the basis of income details of the
applicant.
Non-refundable processing fee as applicable to the Home Loan will be
collected at the time of sanction.
Validity Period :
Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4
months. Property papers will be required to be submitted by the borrower
within the validity of PLAL. Processing fee will not be levied again.
Loan Amount :
Pre-approved loan arrangement letter (PLAL) will carry the eligible loan
amount calculated on the basis of prevailing interest rates.
Minimum Loan amount: Rs.10 Lacs.
(Other terms and conditions are as applicable to regular Home Loan Scheme)
SBI PAL PRE-APPROVED HOME LOAN
‘SBI Tribal Plus' is a Special Home Loan Scheme designed
for Hill/Tribal areas (where mortgage of the property is not
possible) for extending financial assistance to individuals.
Loan is sanctioned for Purchase or construction of a new
house/flat (without mortgage of land).
Purchase of an existing (old) house/flat which is not more
than 10 years old.
Repair/Renovation/extension of an existing house or flat.
Loan Amount:
Minimum : Nil
Maximum : Rs. 10 lacs
Repayment Period
Maximum repayment tenure: 15 years
SBI TRIBAL PLUS SPECIAL HOME LOAN SCHEME FOR HILLY/TRIBAL AREAS
Scheme covers all Rural and Semi-urban centres
having population upto 50,000 as per 2001 census.
Home Loans under •Gram Niwas Scheme• are
sanctioned for purchase/ construction/repair and
renovation of house and purchase of plot for
construction of a house/shed etc.
Loan Amount : Minimum : Nil
Maximum : Rs.5 lacs
Repayment Period
Maximum repayment period : 15 years
(Processing Charges are waived under the Gram Niwas Scheme)
GRAM NIWAS
HOME LOANS IN RURAL AREAS
The Sahyog Niwas Scheme provides Home Loan to Self help
groups, having good payment record of 2 years, for on lending
to their members for :
Purchase or construction of a house exclusively or including
the housing needs of activities carried by them (Dairy shed,
tailoring shed/shop, grocery stores etc.)
Renovation or repair of an existing house/shed
Purchase of a plot for the construction of house
Extension of existing house/work space to existing house/
shed.
Loan Amount : Home Loan amount under •Sahyog Niwas
Scheme• is restricted to 10 times of the saving corpus of SHG
subject to a maximum amount of Rs.50,000/- per member.
SAHYOG NIWAS
HOME LOANS TO SELF HELP GROUPS IN RURAL AREAS
RELATED HOME LOAN PRODUCTS
Processing Fee - 0.35% of Loan Amount subject to a minimum of
Rs.2000/- and Maximum of Rs 10,000/-.
Permissible Loan amount is calculated at 75% of present market
value of the house property less present outstanding in the Home
Loan account.
SBI TOP UP HOME LOAN
Top-up loan amount Term Loan
Up to Rs. 25 lacs 0.35% above MCLR, effective rate 9.55%
Above Rs. 25 lacs & Upto Rs. 2 crores 0.80% above MCLR, effective rate 10.00%
Above Rs. 2 crs & upto Rs. 5 crores 2.05% above MCLR, effective rate 11.25%
Top-up loan amount Overdraft
Above Rs. 20 lacs & Upto Rs. 2 crores 1.80% above MCLR, effective rate 11.00%
Many Government agencies, viz. Urban Development Authorities and
Housing Boards, periodically come out with schemes for allotment of
plots/houses, wherein applicants have to deposit 10-20% of the total
cost of plot/house as Earnest Money Deposit (EMD).
SBI Earnest Money Deposit Scheme provides finance for Earnest
Money deposit to all individuals above 21 years of age.
Applicant should have regular source of income.
No minimum income criteria.
Margin waived. Finance upto 100% of application money, subject to a
maximum loan amount of Rs.10 Lacs.
No security, irrespective of the loan amount.
Above mentioned features of the scheme are applicable subject to
the following conditions:
Allotment letters/refund orders should be routed through SBI.
Lump sum amount equal to 6 months interest to be paid upfront.
Two PDCs, one for the principle amount of EMD and another towards
interest for the next 6 months should be taken to meet the
eventuality of refund getting delayed.
EARNEST MONEY DEPOSIT (EMD) SCHEME
LOAN FOR EARNEST MONEY FOR ALLOTMENT OF A HOUSE/PLOT
House-owning Senior Citizens having inadequate income can avail
this loan to meet their financial needs for renovation/repairs to
house, medical & other personal uses.
No compulsion for the borrower to repay the loan amount during
his or her lifetime or till such time he or she continues to stay in
the house.
Borrowers have the options to prepay the loan at any time
without any pre-payment penalty.
Processing Fee : 0.50% of the Loan Amount with a Minimum of
Rs.500/- and Maximum of Rs.10,000/-
Interest Rate : 2.75% above the MCLR, present effective rate
being 11.95% p.a. (Fixed) subject to reset every year.
Disbursement : Either in Monthly/Quarterly payments or 50% of
the sanctioned limit in lump-sum and the remaining in periodic
payments.
SBI REVERSE MORTGAGE LOAN [FOR THE WELFARE OF SENIOR CITIZENS IN INDIA]
REVISED RATE OF INTEREST EFFECTIVE 01ST APRIL, 2016 home loan product - variants
Sr.
No.Product Type
MCLR
(1 Year)
Spread
Over
MCLR
Effective Rate
(1 Year Reset)
Her Home 9.20% 0.20% 9.40%
Others 9.20% 0.25% 9.45%
Her Home 9.20% 0.30% 9.50%
Others 9.20% 0.35% 9.55%
Her Home 9.20% 0.55% 9.75%
Others 9.20% 0.60% 9.80%
Her Home 9.20% 0.75% 9.95%
Others 9.20% 0.80% 10.00%
Upto Rs.1 Crore 9.20% 1.60% 10.80%
Above Rs.1 Crore
& Upto Rs.2 Crores9.20% 2.10% 11.30%
Above Rs.2 Crores
to Rs.5 Crores 9.20% 2.60% 11.80%
Upto Rs.7.50 Crores
& Upto Rs.2 Crores in
Metro & Rs.5 Crores in
Non-Metro
9.20% 3.35% 12.55%
Above Rs.7.50 Crores
in Metro & Rs.5 Crores
in Non-Metro
9.20% 3.50% 12.70%
4 CRE Maxgain (Irrespective of Loan)
5
6
Loan Against Property (LAP)
Rent Plus
Home Loan (Term Loan) and CRE Home Loan
(Term Loan)1
Maxgain Home Loan above Rs.20 Lacs & upto
Rs.1 Crore2
3 Maxgain Home Loan above Rs.1 Crore
REVISED RATE OF INTEREST EFFECTIVE 01ST APRIL, 2016 RELATED home loan products
Sr.
No.Product Type
MCLR
(1 Year)
Spread
Over
MCLR
Effective Rate
(1 Year Reset)
Upto Rs.25 Lacs 9.20% 0.35% 9.55%
Above Rs.25 Lacs
& Upto Rs.2 Crores9.20% 0.80% 10.00%
Above Rs.2 Crores 9.20% 2.05% 11.25%
Home Top Up Loan (Overdraft)
Upto Rs.7.50 Crores
& Upto Rs.2 Crores in
Metro & Rs.5 Crores in
Non-Metro
9.20% 1.80% 11.00%
2 Earnest Money Deposit (EMD) Scheme - 9.20% 4.55% 13.75%
For Public 9.20% 2.75% 11.95%
SBI Pensioners 9.20% 1.75% 10.95%
Home Top Up Loan (Term Loan)
3 Reverse Mortgage Loan
1
Individual Documents – Salaried Person
Two Passport size photographs
Self attested photo copy of PAN Card/Passport/Voter ID/Aadhar
Residence Proof - Self attested Photo Copy of BSNL or MSEB Bill or Company
Letter affixing rubber seal
Experience letter of previous Company , if present employment less than 2 years
Self attested photo copy of Confirmation letter of present Company
Self attested photo copy of latest 3 month’s Salary slips
Self attested photo copy of latest 6 month’s salary account Bank statement
Self attested photo copy of 2 year’s Form-16
Self attested photo copy of all loan Account statement for at-least one year if any
current loan running
Self attested photo copy of all investment proof i.e. LIC/Mutual Funds/PPF
Account/Shares/FD etc.
Letter from financial institution or Bank stating the outstanding amount including
foreclosure charges if any [Additional document in case of Take Over (Transfer from
financial institution or Bank)
List of original documents with financial institution or Bank [Additional document in
case of Take Over (Transfer from financial institution or Bank)
LIST OF DOCUMENTS
Doctors and Self Employed Customer :
Two Passport size photographs
Self attested photo copy of PAN Card/Passport/Voter ID/Aadhar
Residence Proof - Self attested Photo Copy of BSNL or MSEB Bill or Index II or
Telephone Bill
Self attested photo copy of Degree Certificate
Self attested photo copy of Shop Act License [Not Applicable in case of
Partnership Firm]
Self attested photo copy of Notarized Partnership Deed
Self attested photo copy of MOA and AOA along with Share Holding Pattern and
Company Financials for last 3 years along with Bank Statements for 6 months
Self attested photo copy of latest 3 years Income Tax return with Computation of
Income Profit & Loss and Balance Sheet. If audited, then audit reports duly attested
by the Chartered Accountant.
Original latest 1 Year Bank Statement of firm
Original latest 1 year Saving Bank Account Statement
Self attested photo copy of all investment proof i.e. LIC/Mutual Funds/Property/NSC/
PPF etc.
All loan details and track record.
LIST OF DOCUMENTS
Builder’s Documents (At present Photo Stat Copies)
Registered Agreement along with Index II and registration receipt
Approved Blue Print of the Floor Plan
No Objection Certificate from the Builder/Society
Property Documents Set i.e. 7/12Extract, Development Agreement, Power of Attorney if
any, ULC order, N.A. Order, Builder’s Title Search Report, Commencement Certificate to
construct etc.
Additional documents in resale property purchase along with the above documents :
Draft of Agreement to Sale and Sale Deed
Copy of latest outstanding letter of the earlier institute/Bank, if there is any of the
previous owner
List of original documents from the earlier financial institute/Bank
Completion and Possession Certificate
Copy of latest Property Tax paid as well as MSEB Bill
Conveyance Deed, if any
Share Certificate
Possession/Allotment Letter
Pan Card and address proof of the seller
A letter from Seller for cheque favoring along with complete details of Bank account, Bank
name and Branch
Bank Statement as per cheque favoring.
LIST OF DOCUMENTS
Additional Documents in case of Balance Transfer case along with
the Builder Documents :
Copy of latest outstanding letter of the earlier financial institute/Bank , if there is
any of the previous owner
List of original document from the earlier financial institute/Bank
Track record of the loan for latest one year
Conveyance Deed, if any
Society registration certificate along with Share Certificate
Latest Property Tax paid receipt along with M.S.E.B. Bill
Possession Certificate
ONE INTERIM GUARANTOR WORTH LOAN AMOUNT IS REQUIRED if Balance
Transfer case Or Resale case, where there is existing loan. His / Her net-worth
should be equal to the loan amount taken.
o Charges for Housing Loan Processing :
Processing Fee 0.25% of Loan amount with a maximum of Rs.6,500/- up to Rs.75
Lacs
Advocate Fee Rs.4,000/-
Stamp duty for Equitable Mortgage – 0.2% of Loan amount + Rs.2,000/- approx.
Property Insurance for the tenure – one time. Premium approx. Rs.562/- per Lac
(property cost)
Valuation Charges – Rs.845/-
LIST OF DOCUMENTS
THANK YOU VERY MUCH FOR GIVING US YOUR PRECIOUS TIME ! PS : As Counselor is appointed by Bank only, customer doesn’t pay anything except Rate Structure decided by Bank.