The SBI Privilege Home Loan is launched by State Bank of India specifically for government employees. This includes state and central government employees (including Central government PSBs and PSUs) and pensioners.
Interest rates vary according to the customer’s risk score, LTV ratio, and other factors where check-off facility is not available. For the check-off facility, the interest rate is in the range of 6.80% p.a. - 7.15% p.a.
The following are the eligibility criteria for the SBI Privilege home loan:
These are the documents required for income proof and identity proof:
For all applicants:
Income proof for non-salaried individuals (applicant, guarantor, or co-applicant):
Income proof for salaried individuals (applicant, guarantor, or co-applicant):
SBI Privilege Home Loan comes with many features and benefits that offer higher value to borrowers such as:
Loan amounts are determined by taking into account the applicant’s age, income, repayment ability, cost of the proposed property, assets and liabilities, etc.
Yes, SBI has a list of approved projects on the SBI Realty website.
Some fees that are not covered under the loan are the fee for valuer for the valuation report, advocate’s fee for a legal opinion, as well as CIBIL and CERSAI charges.
Yes, at the pre-sanction stage, it is the valuer’s fee and advocate’s fee. At the post-sanction stage, it is the premium for property insurance, stamp duty for mortgage and loan agreement, and CERSAI registration fee.
No, only government employees and pensioners are eligible for this loan.
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