A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • SBI Home Loan Application Form

    The State Bank of India (SBI) is one of the most popular nationalised banks in the country. They also have a series of home loan products targeted at different strata and types of customers, such as SBI PAL Home Loan, SBI Her Ghar Home Loan and SBI MaxGain Home Loans.

    Application forms can be confusing. To make them easier for you to understand, we will explain the components and confusing sections of the SBI Home Loan Application Form here.

    SBI Home Loan Application Form Explained:

    The standard SBI Home Loan Application Form contains 4 forms – A to D, which are:

    1. Form A – Personal Details
    2. Form B – Employment and Income Details
    3. Form C – Property and Loan Details
    4. Form D – Declaration

    Form A – Personal Details:

    On the topmost part of the form is where you declare whether you are the applicant, co-applicant or guarantor. If you are taking the home loan alone, then you are the applicant; if you are taking it jointly with someone you are a co-applicant and if you are standing as a collateral guarantee to someone who is taking the loan, you are the guarantor.

    In this section you have to fill in your personal details:

    • Name (leave spaces between 2 words)
    • Gender and salutation (title)
    • Date of Birth
    • Marital Status
    • Name of spouse and father
    • The number of people dependent on your income
    • Mother’s maiden name (your mother’s surname before she got married)
    • Category for special benefits (SC/ST or General)
    • Nationality, Residential status and Religion
    • Place of Birth
    • Photo identification type (Aadhaar, Voter’s ID, Ration card, etc.) and the number of whichever card you are submitting, and its validity
    • Driving licence number and its validity
    • PAN or GIR number (the older version of PAN)
    • Passport number and its validity
    • Highest education qualification and the year of completing this course
    • Current address in full (you also need to indicate how long you have been staying at this address)
    • Contact numbers – telephone and mobile number(s)
    • Personal email id
    • Permanent address in full (if different from the current address). If the permanent address is the same as current address, just tick ‘Yes’ in this column.
    • Telephone number of permanent address
    • Office address or address of the place where you run your business
    • Office contact details and official email id
    • Repayment mode: This refers to which method you’d like to choose to repay the loan/pay the equated monthly instalments (EMIs). You can select any of the following:
      • Check-off: Where your employer will deduct the EMI amount from your salary and deposit it with the bank.
      • Electronic Clearing System (ECS): Where you can have the amount deducted from your account without manual interference. This can be done for an account in another bank as well.
      • Post-dated cheques: Where you provide the bank with cheques dated for a specific date every month and the bank will encash them accordingly.
      • Standing Instruction: Where you provide the bank with an instruction to debit the EMI amount from your account in the same bank.
      • Others: Any other mode of payment you choose. Check with the banker for the options available.
    • Relationship with the bank: The number of years you have been associated with SBI.
    • References: You have to provide references of two individuals not related to you to certify your good conduct and debt levels.

    Form B – Employment and Income Details:

    In this section, you have to first specify whether you are salaried, self-employed or running your own business or a pensioner. Following that, these details need to be filled in if you are a salaried person:

    • Name of employer
    • Your employment status
    • Total professional experience and breakdown in terms of experience in the present job and previous job
    • If you are specifying a previous employment, you also have to give the previous employer’s name, contact number and address
    • The industry you are involved in currently – for example, media, textile industry, banking or insurance, digital marketing, sales, accountancy, etc.
    • The type of organisation you are working in, your department and designation
    • Your employee number in the current organisation, and service remaining (if you are close to retirement)
    • Website of your current company
    • If you are a self-employed individual, the details given below have to be provided:
    • Nature of business and type of ownership, and the number of partners if it is a partnership firm
    • Name of business and the industry it falls under
    • Trade licence number and its expiry date
    • The percentage of shares you hold in the company
    • Name of the person who holds the power of attorney (POA)
    • Income with a detailed break-up of net income, gross income, frequency of receiving income and mode of payment (cheque/net transfer)
    • Deduction details including gross obligations, net obligations and the number of times in a month you have to meet these obligations. These could include deductions by your company or bank on overdraft or debts you owe your friends and relatives, etc.
    • Details of existing loans with banks, the type of loan (car loan, personal loan, etc), EMI amount, frequency of EMI deduction, the number of EMIs paid and outstanding balance
    • Information about the number of bank accounts you hold
    • Details of the credit cards you hold
    • Information about the fixed deposit accounts you own
    • Details of assets owned, such as land, property, shares and bonds, jewellery, etc.

    You and your co-applicants and guarantor (if applicable) have to sign at the end of this form with date as a self-notarisation of the information provided.

    Form C – Property and Loan Details:

    Here you can select the home loan type that you want to take from SBI. You also have to indicate whether the builder is part of the tie-up with SBI or is willing to form a collaboration. If the builder is already linked with SBI, the tie-up ID has to be provided.

    Other details required are:

    • Property type
    • Builder’s name and name of the project
    • Building’s name or survey number and wing name
    • Built-up area, plot area and plinth area in square feet (you can find these details from your builder)
    • Flat or plot number and block number (if applicable)
    • Name and address of the seller (if different from the builder) and name of the registered owner
    • Phone number of the seller
    • Full address of the property
    • Cost of property
    • Down payment required and the percentage of down payment sought
    • Loan amount sought
    • Repayment frequency sought
    • The period of loan in months
    • Purpose of loan: Indicate whether you want the loan to construct a new house, buy a new or old house or flat, purchase of plot, renovation of existing house, home extension or balance transfer of a home loan from another bank.
    • Interest rate you’d like, whether fixed or floating
    • Moratorium period: The period of time where you are not required to pay any EMIs or interest. You also have to specify whether you want interest to be capitalised during this period.
    • Insurance option: You can opt for a home insurance from the SBI. If you wish to, you have to indicate which of the insurance policies you’d like to choose: SBI Life RiNn Raksha Policy, SBI Life Saral Shield Policy or SBI Life Smart Shield Policy. You also have to indicate whether you will pay the premium separately or you want the amount to be added to the home loan amount. You and your co-applicants and guarantor need to sign at the end of this form as well.

    Form D – Declaration:

    This section is more about reading the terms carefully. Once you read, you need to indicate your consent or dissent in sharing, disclosing or using the data provided by you. This form needs to be signed by all parties concerned along with place and date.

    Once you are clear about what information needs to be filled in each sections of the form, you need not get confused or worried about whether you are making mistakes. If you are unable to understand any part of the form, consult your personal banker or a friend who knows what the details are about. Do not fill in wrong details, or it could lead to rejection of the loan. This will impact not only your chance of getting another loan but also your overall credit score.

               

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    SBI Home Loan Application Form Reviews

    • SBI Home Loan
      "Excellent bank for a home loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in STATE BANK OF INDIA few months before, the loan amount was sufficient which was provided from bank for the duration of 30 years. It got sanctioned within 48 hours. The rate of interest is nominal as per the market rate and for the processing fee is waived off.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 18, 2019
    • SBI
      SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I hold my housing loan with State bank of India from long time, the loan amount which they have given to me was sufficient, the rate of interest they have charged me was nominal,so far i did not face any issue from them , still this loan is running.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 17, 2019
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my home loan with State bank of India previously, their rate of interest is not fixed it use to get fluctuated according to the time now the rate of interest is nominal, there processing fee they have charged me was nominal. and they customer service is good they have explain me about everything relating to loan was clear.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 17, 2019
    • SBI Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      I am using the home loan from last 3 years, the documentation process was easy and done quickly, i got the loan amount on one shot. The loan amount was sufficient the rate of interest was 8.65% it is a nominal. The duration for repaying is for 25 years, there is no issues with the customer support.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 16, 2019
    • SBI Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a home loan in STATE BANK OF INDIA before 4 years ago. As per my requirement the loan amount was not sufficient from which bank provided and was low for the duration of 20 years. The rate of interest and the processing fee are nominal for this loan.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 14, 2019
    • SBI Home Loan
      "Good loan services"
      0.5 5.0/5 "Blown Away!"
      Once i mail to the mail support team they used to give me a prompt reply. They have given me a interest rate of 8.5% for my loan. Since the interest rate is less and its good for central Government employee and they give loan upto 70 years of age and EMI also it would be less hence i have recommended SBI to many people
      Was this review helpful? 0
      , thane
      Reviewed on Jun 09, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for the past 5 years ago, at the time loan amount was sufficient which was provided from bank for the duration of 20 years.The rate of interest is nominal and the customer service is excellent whenever contact them.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 09, 2019
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I hace selected loan amount 6 lakhs and tenure 20 years, EMI Rs 5000 and Rate of interest 8.50% floating one time processing there Rs 7500. Customer service is good and responsive. Documents submitting through executive There is no delay receiving loan amount disbursement.
      Was this review helpful? 1
      , thane
      Reviewed on Jun 09, 2019
    • SBI Home Loan
      "Good home loan"
      0.5 4.0/5 "Great!"
      I have applied the home loan with State bank of India. They took 1 month to sanctioned the loan. The given interest rate was 8.5% and there is no processing fee. I have selected the tenure period of 15 years. Because of the lower interest rate i have chosen them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 08, 2019
    • SBI Home Loan
      "Need scope of improvement"
      0.5 3.0/5 "Satisfactory"
      Before 10 years I took home loan from SBI, the service is lacking compared to private sector interms of follow up and processing time. The staff were not helpful whenever I visited to the bank I didn't good response from their end. One thing the interest is good, I took the loan amount of Rs. 2 lakhs with the interest around 8.75% for 10 years.
      Was this review helpful? 0
      , amravati
      Reviewed on Jun 08, 2019
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      A year back i have been applying for housing loan with State bank of India, the loan amount which they have given to me was sufficient , i directly bank with SBI without any third party , the rate of interest they have charged me was up to 8.5% which i felt was less comparing to market rate, no processing fee was available .Still this loan is running.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am running a home loan with SBI and it was processed by the dealer. The rate of interest was very good and there was a minimal processing fee. The loan duration is 15 years. I have purchased a residential property. I am paying monthly 22K through ECS.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 07, 2019
    • SBI Home Loan
      "Trusted Bank"
      0.5 5.0/5 "Blown Away!"
      I took home loan from SBI , they guided well hence the loan processing was done on time. I took the loan amount of Rs. 15 lakhs with the tenure of 10 years, they taken some processing fee it was nominal. They gave me door step service, on time sanctioned the loan amount as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 06, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for more than 9 years ago. As per my requirement I got the loan amount for the duration of 20 years. The rate of interest is nominal and good. The processing fee is applicable and is nominal. The customer service is good.
      Was this review helpful? 3
      , chennai
      Reviewed on May 30, 2019
    • SBI Home Loan
      "Cheap home loan services"
      0.5 4.0/5 "Great!"
      Taken my home loan from SBI since the builder has a tie up with them. Since its a Government bank, the interest rate is very less. Documentation process was smooth. Total tenure period of the loan is 20 years in that 4 years has been completed.
      Was this review helpful? 1
      , chennai
      Reviewed on May 30, 2019
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Home loan through State Bank Of India which i have directly applied ,The rate of interest and processing fee was very less ,The loan amount got sanctioned on time ,I have applied for the loan amount of 15lakhs for the tenure of 10years .The loan process was very smooth according to me .
      Was this review helpful? 4
      , chandigarh
      Reviewed on May 28, 2019
    • SBI Home Loan
      "Unhappy Service"
      0.5 1.0/5 "Really Bad"
      SBI home loan is not upto the mark, they are not providing the top up loans for the existing customer. Then I have moved to Bajaj Finserv, finally now I am getting from their end for loan enhancement but I am not interest to continue with them, initially I took the home loan amount of Rs.18 lakhs.
      Was this review helpful? 1
      , chennai
      Reviewed on May 28, 2019
    • SBI Home Loan
      "Documentation process should be easy "
      0.5 5.0/5 "Blown Away!"
      Taken my home loan from SBI. While I'm applying the home loan they have given me a very good offers. If i have an anything extra some amount and if we are saving in SBI savings account, they will reduce the interest rate which is SBI Max Gain plan which is only for the home loan customer. They have taken 4 days to sanctioned the loan and the documentation process was fine. I have sent the documents through online.
      Was this review helpful? 2
      , vadodara
      Reviewed on May 28, 2019
    • SBI Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in state bank of India . As per my requirement I received a loan amount for the duration of 30 years. The rate of interest is nominal and the processing fee is applicable. On time the loan got sanctioned from the bank. Customer service is good .
      Was this review helpful? 1
      , pune
      Reviewed on May 27, 2019
    • SBI Home Loan
      "Need to improve their service"
      0.5 3.5/5 "Pretty good"
      I was taken a home loan in SBI bank. When I was applying for a verification myself have to reach the branch often no there will not be proper customer service. They made delay process for the loan. The rate of interest is nominal. Then I have done loan transfer to another bank.
      Was this review helpful? 1
      , jaipur
      Reviewed on May 26, 2019
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