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    Documents Required for Home Loan SBI

    Getting a home loan is the biggest financial decision you make in your life. Nowadays, with most lending institutions reducing the amount of paperwork, availing a home loan is a simple process. With everything in order, your home loan can be sanctioned in as less as 24 hours as well. SBI offers a broad portfolio of retail loans and SBI home loan is one of the most preferred option by home buyers. Read on for more information on documentation and guarantor requirements to avail a home loan from SBI.

    List of Documents Required to Be Submitted for An SBI Home Loan

    • A duly-filled loan application form
    • Three passport size photographs of the applicant
    • A government issued photo identity proof (Voter ID, passport, driving license, etc.)
    • Proof of residence (telephone bills or electricity bills would suffice)
    • For non-salaried applicants, proof of business is required
    • Bank statement for the past six months
    • Statement of personal liabilities
    • Personal assets statement
    • Signature identification from the present banking institution
    • Documents required for the guarantor
    • Statement for personal assets and liabilities
    • Two passport size photographs
    • Identity proof (Voter ID, passport, driving license, etc.)
    • Proof of the current and permanent residence
    • Address of the firm, in case the guarantor is self employed
    • Signature identification from the present banking institution

    Documents Required For Guarantor (Wherever Required):

    • Needed Statement of Your Personal Assets and Liabilities
    • 2 passport size photocopies
    • Proof of identification as above
    • Proof of residence as above
    • Proof of business address as above
    • Signature identification from his/her present bankers

    Additional Documents Required for Salaried Home Loan Applicants

    In addition to the above, salaried home loan applicants are required to submit the following documents:

    • Salary certificate from the current employer (original)
    • TDS certificate or Form 16 or copies of tax returns for last 2 years

    Additional Documents Required for Self-Employed Home Loan Applicants

    • Copies of IT returns for the last three years or assessment orders
    • Copies of challans as a proof of Advance Income Tax payment
       
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    Home Loan Reviews

    • SBI Home Loan
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      SBI home loan interest rate is good, they offered me around 8.75% of interest for the tenure of 20 years. I took the amount Rs. 30 lakhs for apartment. But their SBI documentation was difficult, but their executive coordinated very well with me on loan process.
      Was this review helpful? 13
      , hyderabad
      Reviewed on Dec 02, 2017
    • SBI Home Loan
      "Secured One By SBI"
      0.5 3.0/5 "Satisfactory"
      SBI documentation was very slow, They had taken almost 15 days to complete whole process. There were no response on the process update, I used to call them often. But private bank usually gives proactive response. But SBI, EMI part was good, I used to pay principal + Interest it was good, Its reducing my principal amount.
      Was this review helpful? 10
      , mumbai
      Reviewed on Dec 24, 2016
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