SBI Privilege Home Loan

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

• Minimum age: 18 years
• Maximum age: 75 years
• Resident Indian

Documents Required

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

For all applicants:

1. Proof of residence/address proof (any one of the following): Recent copy of the telephone bill/Water Bill/electricity bill/piped gas bill or copy of driving license/Aadhaar card/passport
2. Proof of identity (any one of the following): Voter ID card/PAN/passport/driver's license
3. Employer identity card
4. Completed loan application form with 3 passport-sized photographs affixed

Income proof for non-salaried individuals (applicant, guarantor, or co-applicant):

1. IT returns of the last 3 years
2. Profit and loss A/C and balance sheet of the last 3 years
3. Details of business license or equivalent
4. Proof of business address
5. TDS certificate or Form 16A, as applicable
6. For doctors, CA, or other professionals: Certificate of qualification

Income proof for salaried individuals (applicant, guarantor, or co-applicant):

1. Salary certificate or salary slip of the last 3 months
2. Copy of IT returns of the last two years (acknowledged by the IT Department) or copy of Form 16 of the last two years.

Property Papers

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

Account Statement

1. Loan account statement for the last one year (if any previous loan from other banks or lenders)
2. 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:

1. Concession on interest for women borrowers
2. Repayment tenure of up to 30 years
3. No penalty for pre-payment
4. No processing fees
5. No hidden charges
6. Lower interest rates
7. Daily reducing balance on interest charges

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