People have many questions about home loan documents. So here we bring you some important information about SBI home loan documents. Before applying a home loan, you should know what the requirements are about it. Here is the list of SBI Home Loan Documents:
Related to Identity of Applicant:
- Employer Identity Card
- Dily Filled SBI Home Loan Application Form affixed with 3 passport size photographs
- Proof of Identity: PAN Card / Aadhaar Card / Passport / Driver’s License / Voter ID Card
- Proof of Residence: Passport / Driving License / Aadhaar / Utility Bill such as Telephone Bill, Electricity Bill, Water Bill or Piped Gas Bill
Property Papers:
- Permission for construction
- Registered Agreement for Sale / Allotment Letter / Stamped Agreement for Sale
- Occupancy Certificate (in case of ready to move property)
- Share Certificate, Maintenance Bill, Electricity Bill, Property Tax Receipt
- A copy of Approved Plan (Xerox Blueprint) & Registered Development Agreement of the Builder, Conveyance Deed (For New Property)
- Payment Receipts or Bank Account Statements showing all the payments made to the Builder/Seller
Account statement:
- Last 3 months’ Bank Account Statements for all Bank Accounts held by the Applicant
- Loan account statement of last 1 year (if any previous loan from other banks / lenders
- Income Proof for Salaried Applicant / Co-applicant / Guarantor
- Last 3 months’ Salary Slip Salary Certificate
- Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
Income Proof for Non – Salaried Applicant / Co-applicant / Guarantor
- Business address proof
- Last 3 years’ IT Returns
- Last 3 years’ Balance Sheet & Profit and Loss A/c Statements
- Business License Details (or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A. / Doctors / other professionals
Why SBI is better than any other bank for home loan?
So, as we all know, SBI is one of the oldest financial institutions in India. It is important for you to get a home loan if you are planning to buy a house/land or build a house. SBI home loan is the best because there is an easy EMI system on loan repayment and there are other striking benefits as well. You can get your SBI home loan statement through the online portal. SBI home loan interest rates are often cheaper than any other bank.
For example:
| CATEGORY | SBI | HDFC |
| AMOUNT OF LOAN | From Rs. 5,00,000 to 10 Cr. | Up to Rs. 10 Cr. |
| INTEREST RATE (annual) | 6.95% to 7.50% | 6.95% to 8% |
In disobedience of the fact that SBI’s balance sheet is four times larger than HDFC Bank, it has 10 times more customers, and is owned by the Government of India.
| BANK | MARKET CAPITALISATION(As of May 4) |
| STATE BANK OF INDIA | Rs. 1.6 lakhs crore |
| HDFC BANK | Rs 5 lakh crore |
Conclusion
SBI home loan interest rates are the most attractive in the market today.
SBI home loan interest rates are starting at just 8.15% per annum for women borrowers.
A 0.05% discount is also given in housing loans, including the importance of a woman in the domestic environment.
This is more beneficial due to complete transparency in housing loans.
