SBI Home Loan Eligibility | Shaurya Loann

Shaurya Home Loan" is a Home Loan Scheme designed exclusively to cater the housing loan requirements of Indian Defence forces.

SBI SHAURYA HOME LOAN

SBI “Shaurya Home Loan" is a Home Loan Scheme designed exclusively to cater the housing loan requirements of Indian Defence forces. SBI launched Shaurya Home loan Scheme to serve Indian Defence forces and provided various benefits to defence personnel. This home loan scheme is at par with Regular home loan schemes provided by SBI.

SOME MAJOR BENEFITS OF ‘SHAURYA’ SCHEME:

•         Low Interest Rates as compared to Regular home Loan Schemes.

•         Zero Processing Fees.  

•         No Hidden Charges.

•         No Pre Payment Penalty.

•         Interest charges on Daily Reducing Balance.

•         Repayment relaxed up to 30 years.

•         Interest concession for Women Borrower.

•         Additional Interest concession in case Check Off is provided.

ELIGIBILITY

Resident Type: Resident Indian.

Minimum Age: 18 years

Maximum Age: 75 years

Loan Tenure: up to 30 years.

NOTE: ONLY DEFENCE PWERSONAL ARE ELIGIBLE FOR THIS SCHEME

CHECK YOUR ELIGIBILITY: ELIGIBLE LOANAMOUNT

RATE OF INTEREST:

CATEGORY	ABOVE 10 LAC UPTO     30 LAC	30 LAC                        TO  75LAC	ABOBE 70 LAC  UPTO   50 CR
WITH CHECK OFF FACILITY
WOMEN	8.45 - 8.55%P.A.	8.60 - 8.70%P.A	8.60 - 8.80%P.A
OTHERS	8.45 - 8.55%P.A.	8.60 - 8.70%P.A	8.70 - 8.80%P.A
WITHOUT CHECK OFF FACILITY
WOMEN	8.45 - 8.55%P.A.	8.60 - 8.70%P.A	8.70 - 8.80%P.A
OTHERS	8.50 - 8.55%P.A.	8.65 - 8.75%P.A.	8.75 - 8.85%P.A.

CHEQUE OFF FACILITY

•         The Check-off facility is the facility under which Employer of the borrower agrees to deduct the EMI from his/her salary.

•         The EMI deducted from the salary of the employee will be directly remitted to the Bank (lender) by the employer.

•         A tri-party agreement is signed between Bank, Employer and the Employee / Borrower with an undertaking from the employer to deduct EMI from salary

•         An employer also guarantees that outstanding will be repaid if the employee will leave the job before the loan is closed.

•         The outstanding amount of bank is deducted from the full and final settlement of the employee by the employer.

APPLICABLE CHARGES:

Pre-sanction:

•                   Advocate’s fee for property search and title investigation report.

•         Valuer's fee for the valuation report.

Post-sanction**

•         Stamp duty payable for loan agreement & mortgage.

•         Property insurance premium.

•         CERSAI registration fee of rs 50 + gst up to rs 5 lakh limit; and rs 100 + gst for limits above rs 5 lakh.

List of papers/ documents applicable to all applicants:

•         Employer Identity Card

•         Loan Application: Completed loan application form duly filled in and affixed with 3 Passport size   photographs

•         Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card

•         Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Papers:

•         Permission for construction (where applicable)

•         Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale

•         Occupancy Certificate (in case of ready to move property)

•         Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt

•         Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed (For New Property)

•         Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

•         Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s

•         If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

•         Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

•         Salary Slip or Salary Certificate of last 3 months

•         Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

CONTACT DETAILS:

TOLL FREE:   1800 112 211, 1800 425 3800

EMAIL: homeloan.complaints@sbi.co.in

ADDRESS: REAL ESTATE AND HOUSING BUSINESS UNIT

                     STATE BANK OF INDIA CORPORATE CENTER

                     MADAME CAMA ROAD

                     STATE BANK BHAVAN NARIMA POINT

                    MUMBAI-400021, MAHARASHTRA

                    SBI HOME LOANS