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  • SBI Her Ghar Home Loan for Women

    Established in 1921, State Bank is India is a financial and banking services behemoth. SBI provides a wide range of financial products and services that cater the ever-growing banking needs of the Indians. State Bank of India sanctions one-fifth of every loan in India and was adjudged as the Most Preferred Home Loan provider by CNBC. When it comes to home loans , SBI has a unique, comprehensive scheme for every class of applicants. Best known for its competitive interest rates , SBI’s “Her Ghar” home loan was specially crafted to make every women, the owner of a house.

    Features and Benefits of SBI “Her Ghar” Housing Loan:

    Unique, borrower-centric features like attractive interest rates and flexible repayment options make SBI home loans the most sought-after financial product. Offered at concessional interest rates, SBI’s “Her Ghar” home loan will financially empower and motivate women to buy their dream home. Here are some of the features that make SBI home loan for women stand out from the rest.

    • Reduced Interest Rates:

      State Bank of India home loan for women, “Her Ghar”, comes at a concessional interest rate of 9.85% per annum. This amounts to an EMIof only Rs.867 per lakh when calculated for a period of 30 years.

    • Repayment Flexibility:

      The maximum repayment tenure for SBI home loans is 30 years or up to the age of 70 years of borrower, whichever is early.

    • High Quantum of Finance:

      SBI offers a high quantum of financing for home loans after taking into consideration, factors such as applicant’s income, assets and liabilities, property’s value, repaying capacity etc.,

    • Hassle Free Application Process:

      With minimal documentation requirements, online portal for application management and less processing charges, borrowers can be ensured of a hassle-free home loan application process.

    SBI Her Ghar Home Loan Eligibility Criteria:

    To apply for a home loan under the “Her Ghar” scheme, the following two conditions must be satisfied.

    • A woman must be the sole applicant or the first co-applicant.
    • The property which is to be financed should be either in the sole name of woman applicant or she should be the first owner in case of joint ownership.

    Apart from the above mentioned conditions, the applicant must also satisfy the following conditions to be eligible for SBI Home Loan .

    • The applicant must be an Indian resident.
    • The applicant should be aged at least 18 years as on the date of sanction and not more than 70 years.
    • Should have a regular income and a good credit rating.

    Documents Required for SBI Her Ghar Home Loan:

    • Three passport sized photos
    • Completed loan application
    • PAN card
    • Identity proof like driving license/ passport/ voter ID (photocopies)
    • Residential proof like electricity bill, telephone bill, etc.
    • Bank account statement or passbook for past 6 months
    • Liability statements and personal assets
    • Signature identification from the current bankers

    New SBI Home Loan Interest Rate for Women:

    Under SBI’s “Her Ghar” scheme, home loans are offered to women applicants or first co-applicants who are women, at a concessional interest rate of 9.40% per annum. This interest rate is 20 bps above the MCLR of 9.2% per annum.

    SBI Her Ghar Home Loan MCLR Rate:

    SBI announced its Marginal Cost of Funds-Based Lending Rate (MCLR) on April 1, 2016, at 9.2%. The benchmark for home loans will be the 1-year MCLR rate , so the interest rate will be reset every year.


    1. What documents do I have to submit while applying for SBI Home loan for women?
      • You will have to submit the following documents.
      • Completed loan application with 3 passport size photos
      • Proof of identity and residence
      • Proof of business address for non-salaried applicants
      • Statement of assets and liabilities
      • Signature identification from all present bankers
    2. How can I enhance my home loan eligibility?

      To increase your loan eligibility, you can add the income of your spouse or children, provided that they have steady income and their salary account is with SBI. If the house being financed is proposed to be rented out, you can add the expected rent accruals. You also have the option to include your regular income from all sources and depreciation.

    3. Can I use the SBI “Her Ghar” home loan to buy a second-hand residential house?

      Yes. You can use the loan for varied purposes like purchase, construction, extension, repairs, renovation of a new or second-hand house or plot.


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