Pre-Approved Home Loan

Pre-approved home loans provide sanction of loan limits before finalization of the property and help customers negotiate with the builders or sellers. The pre-approved loan is assessed based on your income. The processing fee applicable to the home loan is non-refundable and is collected at the time of sanction. The repayment tenure of a pre-approved home loan can go up to 30 years with the interest rates being affordable.

1. SBI Pre-Approved Home Loan
   1. Interest concession offered to women borrowers
   2. The loan amount can be repaid in 30 years
   3. The processing fee is low
   4. Interest is charged on daily reducing balance
   5. Home loan is available as overdraft
2. BOB Pre-Approved Home Loan
   1. It offers you greater flexibility in negotiations with builders/sellers
   2. You are assured of eligible loan amount
   3. The in-principle approval is valid for 4 months from the date of issue
   4. In-principle approval for the home loan is done prior to identification of a specific house
   5. Balance amount of unified processing charges will be recovered after sanction of the loan
3. IOB Subhagruha Pre-approved Home Loan
   1. Maximum repayment tenure can go up to 30 years
   2. Can avail a maximum holiday period of 18 months from the date of first disbursement or completion of construction
   3. Pre-approved loan arrangement letter is valid for a period of 3 months
   4. Margin ranges from 10 - 25 percent of the estimated cost

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