9 Steps to Understand Well About SBI Home Loan
When we talk about home loans, SBI is one of the largest facilitators of home loan in India . It offers a wide variety of home loan products meeting the requirements of different customers. The bank offers lowest interest rate with a tenure of up to 30 years. Some of the salient features of SBI home loan are:
Special discount for women borrowers, flexible payment options, no hidden charges, exclusive packages depending upon individual needs of customers. You can apply for SBI home loan online as well as offline. Process to get offline home loan from SBI is as follows: You are required to keep all property related documents ready which includes booking receipt as well as the copy of the cheque. Then you need to visit the advocate to get the property documents verified. Post legal stage, a property valuator from the SBI panel will evaluate the property and issue a letter to the borrower.
After this, the borrower must visit SBI along with all the required documents and the application form. Time taken for the approval of the loan varies from person to person.As soon as the loan is sanctioned, the borrower gets a call from the bank’s representative asking him/ her to submit few more documents like NOC stating that the property is not mortgaged at any other bank, tripartite agreement, if the property is under construction, demand note from the builder. Then begins the registration process, before registration verify the stamp duty and inform the bank of the same. Once the registration process is complete, an officer from SBI visits you to handover the DD to the builder or even you may be asked to collect it from your branch. Availing a housing loan from SBI is a hassle-free process and you can apply for it through online aggregators also.
Special discount for women borrowers, flexible payment options, no hidden charges, exclusive packages depending upon individual needs of customers. You can apply for SBI home loan online as well as offline. Process to get offline home loan from SBI is as follows: You are required to keep all property related documents ready which includes booking receipt as well as the copy of the cheque. Then you need to visit the advocate to get the property documents verified. Post legal stage, a property valuator from the SBI panel will evaluate the property and issue a letter to the borrower.
After this, the borrower must visit SBI along with all the required documents and the application form. Time taken for the approval of the loan varies from person to person.As soon as the loan is sanctioned, the borrower gets a call from the bank’s representative asking him/ her to submit few more documents like NOC stating that the property is not mortgaged at any other bank, tripartite agreement, if the property is under construction, demand note from the builder. Then begins the registration process, before registration verify the stamp duty and inform the bank of the same. Once the registration process is complete, an officer from SBI visits you to handover the DD to the builder or even you may be asked to collect it from your branch. Availing a housing loan from SBI is a hassle-free process and you can apply for it through online aggregators also.
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