State Bank of Bikaner & Jaipur (SBBJ) is an associate bank of State Bank of India. As of 2012, SBBJ had 1,037 branches, mostly located in the state of Rajasthan, India. Its branch network out of Rajasthan covers all the major business centers of India. In 1997, the Bank entered in the capital market with an Initial Public Offering of 13,60,000 shares at a premium of Rs 440 per share. SBBJ will be a right partner to purchase and own a house. Enjoy the SBBJ Advantages with its extensive features and competitive interest rates will help you in making your dream true
At least 21 years old
Less than 60 years old
Salaried / Self-employed
with regular income
Earn more than the minimum
EMI limited to about 50%
of monthly income
Loan capped @ 75% of property value
EMIs of other loans lower
Make your spouse a co-applicant,
and her income will add
to your eligibility
Choose longer tenure loan up to 30 years
Alternatively add your parents
|Processing Fees||Min Rs.500 & Max Rs.10,000|
|Loan Tenure||1 year to 30 years|
|Partial PrePayment Charges||Nil|
Most of us dream of the day that we do not have to worry about the stringent rules that our landlords impose on us. The day that we can call our home our own. To make our dreams come true, we need a little help financially. If you have been looking for such help, SBBJ Home Loan may be exactly what you need. SBBJ (State Bank of Bikaner and Jaipur) Home Loan provides home loans that have flexible tenures, hassle-free loan application process and attractive interest rates. SBBJ Housing Loan can be used for anything from purchasing the property to spending for home renovation.
You will not be charged for processing fee for loan amounts up to Rs.25,000. If the loan amount is above Rs. 25,000, you will be charged 0.25% of the loan amount, for both regular and online home loans (minimum Rs. 500 and maximum of Rs. 10,000).
You will not be charged processing fee for home loans that are booked until the date 31/3/2016.
State Bank of Bikaner offers home loans at a floating interest rate of 9.55% from loans starting from Rs.10,00,000 to 3 crore for a maximum tenure of over 30 years. The main aim of the bank is to offer low interest rates to its customers.
The State Bank of Bikaner and Jaipur has set its Marginal Cost of Funds Based Lending Rate (MCLR) for its home loans at 9.70%. The new rate came into effect as on April 1st 2016 and is applicable to all home loan products offered by the bank including the following:
The MCLR Rates set by State Bank of Bikaner and Jaipur are as follows:
|Loan Amount||MCLR Rate|
|Upto Rs 75 Lakhs||9.70%|
|More Than Rs 75 Lakhs||9.70%|
SBBJ Home Loan Eligibility:
These are the criteria that you must fulfill in order to be eligible for a SBBJ Housing Loan:
|Minimum age||21 years|
|Maximum age on maturity of loans||70 years|
|Maximum Loan Amount||If your income is up to Rs. 2.00 lacs, you can borrow an amount which does not exceed 40%. If your income is between Rs. 2.00 lacs and Rs. 5.00 lacs, you can borrow an amount which does not exceed 50%. If your income is above Rs. 5.00 lacs, you can borrow an amount which does not exceed 55%. The incomes of spouse /son/ daughter (any two) can be clubbed for the amount as well. If you are in business, the loan amount will be considered on the basis of sales if the loan amount is more than Rupees 2.00 lakhs.|
|Maximum Tenure period||If you are a salaried applicant, you can take up to 30 years to repay|
The documents required for a SBBJ Home loan will vary depending on the applicants’ nature of employment and income source. You will need to provide proof of income, your photographs, duly filled out application as well as proof of residence. You will have to contact the bank for more details about which documents in particular you will have to provide.
Why Apply for SBBJ Housing Finance Home Loan through BankBazaar?
The benefits of applying for SBBJ Home Loan through BankBazaar are plenty:
It is quick and hassle-free to apply for a home loan through Bankbazaar. Any queries that you may have regarding the loan can be answered promptly by the diligent customer support team of BankBazaar.com. The instant rate quotes and quick approvals at the touch of a finger make it possible for you to be on the way to owning your own home from the comforts of your home.
There are so many options out there when it comes to home loans in India. Bankbazaar.com will compare them all and help you narrow down on the options. All you have to do is simply answer a few questions and BankBazaar.com will take care of the rest.
Any information that you may need in regard to the loan, Bankbazaar.com will have it. From the fees and charges for home loan, prepayment penalty, tenure and documents required and much more, bankBazaar.com is your complete guide.
Your money and time is equally important. You will be saving both when you use BankBazaar to do your comparisons for you. Instead of going from bank to bank collecting brochures and information, everything from eligibility criteria, interest rates and other details can be found out while sitting in your pajamas.
Following are the steps you need to follow to apply for a SBBJ Housing Finance Home Loans on BankBazaar.com.
SBBJ Housing Finance decides the maximum loan amount that one can borrow based on the applicant’s repayment capacity. This is calculated based on factors such as age, income, savings history, co-applicants’ age, assets, liabilities and more.
You can calculate the monthly EMI for your loan amount by using an online home loan EMI calculator. You will have to put in details like the tenure, loan quantum, interest rate and processing charges into the calculator which will generate the monthly EMI amount as well as the repayment history. Having these numbers will help you decide if you can afford the loan.