State Bank of Travancore is a subsidiary of the State Bank Group and also has private share-holders. It is the premier bank of Kerala, India, where it has 777 branches. Overall, SBT has a network of over 1036 branches spread over 16 Indian states.You can avail home loans for construction, purchase / repair / renovation / alteration of a house or for purchase of a plot for the construction of a house.All Resident with regular monthly income with a minimum NMI of Rs. 12,000/- and Non-Resident Indians with a regular monthly income with a minimum NMI Rs. 15,000/-.Spouses of Non-Residents, who are residents and receiving regular monthly income.Salaried persons, self employed businessmen, professionals and agriculturists, who have regular monthly income and who have a minimum of three years of standing / experience in their line of activity.The age should be such that the borrower is able to close the account before he attains the age of 70.Relaxation in eligibility criteria from the minimum of 3 years to 1-2 years is allowed to employees of government/quasi government departments /establishments and listed companies whose minimum NMI is Rs. 20,000/- or more.
At least 18 years old
Less than 70 years old
Salaried or self-employed
with regular income
Minimum income required
12000 per month
Earn more than the minimum
Loan capped @ 80% 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
|Interest Rate||9.20% to 9.45%|
|Loan Tenure||30 years|
|Processing Fees||Below 25,000 - Nil Rs.25,001 to Rs.2.00 lacs : Rs. 500 /- Above 2L : 0.50% of the loan amount plus service tax , with a maximum of Rs. 10,000/-|
A home is the symbol of peace, love and harmony. This shared living space is an important aspect of everyone’s life. Sometimes it is not easy to pull up the finances required to own a home of your own or to renovate and extend it, but this is where home loans from State Bank of Travancore steps in to provide the perfect solution to your housing needs. The Bank offers affordable home loans to its customers with competitive interest rates, hassle-free documentation, flexible EMI options, quick loan disbursement and much more.
Housing loans from State Bank of Travancore can be availed for various purposes such as: purchase or construction of a house, or for repairing, renovating, extending or altering your house or for purchase of a plot for the construction of a house, with or without bank finance.
Self-employed Individuals/ Professionals / Business men
Documents to be submitted for loans taken for construction of house or home improvement:
Documents to be submitted for purchase of house/flats:
The MCLRs set by State Bank of Travancore are as follows:
The home loan interest rates offered by State Bank of Travancore are as follows:
|Loan type||Rate of Interest|
|Home loan up to Rs.75 lakh||9.85%|
|Home loan above Rs.75 lakh||10.1%|
|Maxgain up to Rs.75 lakh||10.35%|
|Maxgain more than Rs.75 lakh||10.6%|
|Flexipay housing loan up to Rs.75 lakh||9.85%|
|Flexipay housing loan above Rs.75 lakh||10.1%|
|GOK housing loan||11.6%|
|Housing For All||9.85%|
Before you avail a home loan, you should be aware of the affordability of the loan and the debt burden that you’ll have to shoulder. You have to make a detailed evaluation of the overall manageability of your finances and the cost incurred from taking the loan. This will assist in ensuring that you are not indulging in an expense that is beyond your means and one which would negatively impact your budget. With the help of an online home loan EMI calculator you can ensure that the EMIs fit your monthly budget expectations. You can easily calculate the EMI schedule and amortization details by using an online home loan EMI calculator . This tool will provide detailed and accurate information about your repayment schedule. All you have to do is:
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You can apply for a State Bank of Travancore Housing Loan anytime and anywhere, in a few easy steps. All you need to do is follow the simple steps given below.
Up to Rs. 75.00 lacs
Above Rs. 75 lacs
A customer can avail a maximum loan amount of Rs. 500 lacs.
The maximum number of co-applicants who can apply for a home loan is three (this includes parents, spouse, siblings, and children).
Construction of new building
30%, 40% and 30% of the loan amount will be provided in three stages. The disbursement of the last instalment will be done three-four weeks prior to the completion of the building.
100% of the loan is disbursed to the seller, once the margin in paid out by the applicant.
Purchase of plot and construction of the building
The loan disbursed will be 50% of the overall project cost of up to Rs.75 lac and 30% of the project cost above Rs.75 lac .
Repayment of the home loan can commence with the completion of the house or after 18 months from the disbursement of the first installment of the home loan, whichever is earlier. Maximum repayment tenure is as follows:
The State Bank of Travancore has introduced an option using which customers can move to the MCLR system from the base rate system. MCLR stands for Marginal Cost of Funds based Lending Rate and it is a new benchmark lending rate that borrowers can avail.
From April 1 2016, the base rate offered by banks were replaced by the MCLR for home loans. Existing customers can switch over to the MCLR based benchmark rates based on mutual consent, and the customer’s adherence to terms and conditions specified by the Reserve Bank of India.
SBT customers interested in utilizing this facility are required to get in touch with their respective branches to avail the same.
27th September 2016
State Bank of Travancore (SBT) has revised its Marginal Cost Of Funds-Based Lending Rates (MCLR) for new loans and advances disbursed or renewed from Friday.
The bank released the following MCLR rates on July 22:
Overnight – 9% (earlier 9.35%)
1 month – 9.10% (earlier 9.45%)
3 months – 9.20% (earlier 9.55%)
6 months – 9.40% (earlier 9.75%)
1 year – 9.60% (earlier 9.85%)
27th July 2016