Quick Answer: What Documents Are Required For Home Loan In SBI?

What is the EMI for 4 lakhs home loan?

Calculated Monthly EMI for 400000 of loan amount for 3 years at various rate of Interest :Loan AmountRate of InterestPer Month EMI4 Lakh14.00%Rs.13671.054 Lakh15.00%Rs.13866.134 Lakh16.00%Rs.14062.814 Lakh18.00%Rs.14460.961 more row.

Is SBI good for home loan?

SBI is a large public sector bank with the lowest home loan percent rate in India. Currently, the bank offers home loans at an interest rate beginning from 6.95% and charges a low processing fee starting from Upto 0.20%, Minimum ₹ 4,000 and Maximum ₹ 17,400. The floating rate home loan from SBI is a RLLR linked loan.

What is the EMI for 60 lakhs home loan?

60 Lakh at 9% (0.75% per month) rate of interest with tenure of 20 years (240 months). Then, EMI = [60,00,000 x 0.75% x (1+0.75%)^240]/[(1+0.75%)^ (240-1)].

What is the EMI for home loan in SBI?

SBI offers Home Loans with loan tenure upto 30 years, and the lowest EMI offered by the bank is ₹ 662 per lakh. The Lowest Rate of interest offered by SBI on Home Loan is 6.95% and is one of the most popular housing loans in India.

Which bank home loan is best?

Best Bank for Lowest Home Loan Interest RateCitibank banks are the best choice for home loans with their lowest interest on home loan starting from 6.75%.Axis bank, ICICI Bank, and Kotak Bank are the best banks for home loan as they have quick loan disbursal with low-interest rates.More items…

What are the documents required for getting home loan?

Checklist of Documents Required for Home LoanCompleted Home Loan Application Form.Passport size Photographs.Proof of Identification: (Any one of the below) PAN Card. … Proof of Age: (Any one of the below) Aadhaar Card. … Proof of Residence: (Any one of the below) … Income Documents: … Property Documents Required For Home Loan:

How can I check my SBI home loan eligibility?

SBI Smart Home Top Up Loan EligibilityResident Type: Resident Indian & NRI.Minimum Age: 18 years.Maximum Age: 70 years.CIBIL Score: 550 or above.Satisfactory repayment track record of 1 year or more, after completion of moratorium.No other Home Top-up or Insta Home Top-up loans should be active.

What are the rules for home loan?

Home loans are usually sanctioned for maximum long tenure of 30 years. It is observed that the average period people take to pay off their home mortgage fully is around 8 years. As per RBI circulars, banks are not allowed to charge prepayment penalty or charges on floating rate home loans.

How much loan I can get if my salary is 25000?

Home Loan Eligibility Based on SalaryAgeNet monthly income (in Rs.)25,00050,00025 Years18.64 Lakh37.28 Lakh30 Years18.64 Lakh37.28 Lakh35 Years18.64 Lakh37.28 Lakh

How is EMI for home loan calculated?

Therefore, EMI = principal amount + interest paid on the loan. The EMI, usually, remains fixed for the entire tenure of your loan and it is to be repaid over the tenure of the loan on a monthly basis. During the initial years of your loan tenure, you pay more towards interest.

What is the procedure to take home loan from SBI?

SBI Home Loan ProcedureStep 1: Keeping the Property related Documents ready. … Step 2: Taking Legal Opinion. … Step 3: Valuation of Property. … Step 4: E-stamping or Franking of Agreement. … Step 5: Submission of Application. … Step 6: Wait Period. … Step 7: Documentation. … Step 8: Loan Disbursement.More items…

What is the EMI for 20 lakhs home loan?

Housing Loan Interest CalculatorEMI for various home loan amounts15 years20 years₹ 20 Lakh₹ 17,698₹ 15,207₹ 25 Lakh₹ 22,123₹ 19,009₹ 30 Lakh₹ 26,547₹ 22,811₹ 50 Lakh₹ 44,245₹ 38,0181 more row

Which SBI home loan is better?

SBI Home loan interest rate starts from 8.35%, which is one of the best rates available in the market….Interest Rate.Loan AmountSBI Home Loan FloatingRate for Female BorrowerUp to Rs. 30 Lakh8.40%8.35%Rs. 30 Lakh – 75 Lakh8.55%8.50%Above Rs. 75 Lakh8.65%8.60%Sep 9, 2020

What is the EMI for 10 lakhs home loan?

Check EMI Calculation for 10 Lakh home loan for 5, 10, 15, 20 Years or How much EMI you have to pay for 10 Lakh home loan amount per month?…EMI Calculation for 10 Lakh Home Loan amount for Various Tenure Options:Tenure OptionsEMI Per Month15 YearsRs.956020 YearsRs.836025 YearsRs.772030 YearsRs.73402 more rows