SBI Privilege Home Loan

The following are the eligibility criteria for the SBI Privilege home loan:

1. Minimum age: 18 years
2. Maximum age: 75 years
3. Resident Indian

Documents Required

These are the documents required for income proof and identity proof:

For All Applicants: 

• Employer Identity Card  

• Loan Application Form: Completed form with 3 passport-size photographs affixed  

• Identity Proof (any one): PAN Card, Passport, Driver’s License, or Voter ID  

• Residence Proof (any one): Recent telephone, electricity, water, or piped gas bill; or Passport, Driver’s License, or Aadhaar Card  

Property Papers: 

• Permission for construction (if applicable)  

• Registered agreement for sale (Maharashtra only), allotment letter, or stamped agreement for sale  

• Occupancy certificate (for move-in property)  

• Share certificate (Maharashtra only)  

• Maintenance bill, electricity bill, property tax receipt  

• Approved plan copy (Xerox blueprint) and registered development agreement of the builder  

• Conveyance deed (for new property)  

• Payment receipt or bank statement showing all payments made to builder/seller  

Account Statements: 

• Last 6 months’ bank statements for all accounts held by applicant(s)  

• Loan account statements for last 1 year if any previous loans exist  

Income Proof – Salaried Applicants / Co-applicants / Guarantors: 

• Salary slips or salary certificate for the last 3 months  

• Form 16 for last 2 years or IT returns for last 2 financial years (acknowledged by IT department)  

Income Proof – Non-Salaried / Co-applicants / Guarantors: 

• Business address proof  

• IT returns for last 3 years  

• Balance sheet and profit & loss account for last 3 years  

• Business license details (or equivalent)  

• TDS certificate (Form 16A, if applicable)  

• Professional qualification certificate (for C.A.s, doctors, and other professionals) 

Property Papers

• Conveyance deed (for new property), builder's registered development agreement, and approved plan copy (photocopy of the blueprint)
• Bank account statement or payment receipts of payments made to the seller or builder
• Property tax receipt, electricity bill, maintenance bill (for Maharashtra, share certificate also)
• For properties that are ready-to-move, occupancy certificate
• Stamped agreement for sale, allotment letter (for Maharashtra, registered agreement for sale)
• Permission for construction

Account Statement

• Loan account statement for the last one year (if any previous loan from other banks or lenders)
• Bank account statements of the last 6 months for all bank accounts

Features and Benefits

SBI Privilege Home Loan comes with many features and benefits that offer higher value to borrowers such as:

• Concession on interest for women borrowers
• Repayment tenure of up to 30 years
• No penalty for pre-payment
• No processing fees
• No hidden charges
• Lower interest rates
• Daily reducing balance on interest charges

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