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    SBI Loan against Units of SBI Debt Fund Series

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    17.65% Fixed
    2% to 3% + S.T. One time fee
    25 times of monthly salary
    1-4 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria
    Personal Loan BYTES FROM OUR KITCHEN

    State Bank of India Loans against units of SBI Debt Fund Series

    This loan product is a scheme which will provide short term finance to those who require it against their Debt Fund schemes of Fixed Maturities (FMPS).

    Where is the purpose of SBI Loans against units of SBI Debt Fund Series?

    Loan amount can be used for necessities and personal needs of an individual. The loan amount cannot be used to boost sales of another mutual fund. And cannot be used to purchase share and debentures or any other purposes which are speculative in nature.

    What is the eligibility criteria for State Bank of India Loans against units of SBI Debt Fund Series?

    Eligibility criteria for SBI Loans against units of SBI Debt Fund Series:

    • Individuals applying for the loan has to be over 21 years with a steady source of income who are working employees, professionals, self-employed and others who file income tax returns.
    • Engaged in agricultural and allied activities
    • Pensioners of central and state governments, defence establishments, POSUs/ Public Sector Banks.
    • Maximum of 65 years of age
    • The minimum of a net monthly income of a salaried individual should be Rs. 5,000 or in case of a self-employed a net annual income should be Rs. 50, 000.

    Even a Non Resident Indians holding a valid Indian passport with a steady source of income can apply for this loan.

    What are the types of financing available?

    This will be a short term or medium term loan, the margin on the loans will be

    • Short Duration Loan: Loans up to 1 year – 30%
    • Long Duration Loan: Loans above 1 year – 50%

    What is the maximum amount of loan I can avail?

    The loan amount will be at a minimum of Rs. 10, 000 to maximum of Rs. 20 lakhs.

    Subject to:

    • Employees or Pensioners will receive 10 time their net annual income
    • Self Employed will receive 1 year’s net annual income

    What is the rate of interest on State Bank of India (SBI) Loans against units of SBI Debt Fund Series?

    The base rate 9.3%

    The scheme details Interest Rate
    Equity Plus Scheme 15.80% per annum (BR = 9.3% + 6.50%)
    Loans against Shares 12.30% per annum (BR = 9.3% + 3.00%)
    Loans against Debentures 15.80% per annum (BR = 9.3% + 6.50%)
    Loan to employees to subscribe for ESOPs 15.80% per annum (BR = 9.3% + 6.50%)

    What are the documents required for State Bank of India Loans against units of SBI Debt Fund Series?

    Documents required by the bank will be:

    • Completed loan application
    • 3 Passport size photographs
    • Proof of identify
    • Proof of residence
    • Original Salary Certificate from employer - in case of salaried individuals
    • TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Dep’t - - in case of salaried individuals

    What are the terms for State Bank of India Loans against units of SBI Debt Fund Series?

    • The short loan will be divided in 12 monthly instalments either by PDCs or a check of facility applicable or even available for you.
    • The long duration loan will be divided into 36 monthly instalments either by PDCs or a check of facility or even available for you.
    • The processing fees is 0.51% of the loan amount. The minimum of Rs.101.00

    How do I apply for this loan?

    You can apply for this loan against State Bank of India Loans against units of SBI Debt Fund Series from the nearest State Bank of India branch or apply via their website. All you need to do is login with your details and then fill in the online application form

    Can I apply for SBI Loans against units of SBI Debt Fund Series online?

    Yes, you can apply for this loan via the State Bank of India website.

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