SBI offers the best home loan schemes to the customer for their house purchase, renovation, construction, etc. The SBI has been serving customers for a long time with its best banking products and knows what a customer needs. So, SBI makes your home financing easier by providing home loans at an attractive rate of interest. With great assistance and support of the tools like SBI home EMI calculator that will make the procedure easier. To know about SBI home loan schemes and their features read the given article.
Why to choose SBI home loans?
The SBI bank home loans is suitable because it can finance 75 to 90% of your property value. You can borrow as much amount from the bank up to your loan eligibility and property value. If you are buying a property in the area where transportation facility isn’t good enough then your property value decreases that resulted in a high-interest rate on your loan amount. So before applying for SBI home loan make sure you meet the loan eligibility criteria.
To avail SBI home loan your minimum age should be at least 21 years and above with a decent flow of income whether you are salaried or self-employed. And to manage the loan payments you can use the SBI home EMI calculator, an online tool that calculates the monthly installments.
How to use SBI home EMI calculator?
You just have to visit the SBI official website and click on the “EMI calculator” button. When you click on it, you will be directed to the SBI home EMI calculator page. Then enter your loan details like the borrowed amount, interest rate and loan tenure to generate the equated monthly loan installment (EMI). To understand the device better suppose, if you took a home loan of INR 50 lakh on an 8.99% interest rate for 30 years then according to the SBI home EMI calculator your EMI would be INR 40,195.
Apply for SBI home loan for the effortless housing financing service
Visit your nearest SBI bank branch or apply for a home loan through SBI online banking service. Login to your account enter your details like mobile number, name, email address, etc. And, if you received a call from the bank regarding the home loan then you are one step closer to your home purchase. After that submit documents like income proof such as Bank statement, salary slip, income tax return (ITR) report, etc to the bank along with ID and address proof.
If you are done with all the formalities then you are required to pay a processing fee and other charges for your SBI home loan only then the application procedure is completed. SBI charges a processing fee of INR 10,000 to 30,000 plus Goods and Service Tax (GST) or 0.405 of your loan amount. The women applicants get the extra benefits of a lower SBI home loan interest rate starting from 8.15% and every applicant may get the flexible loan repayment duration up to 30 years. So, don’t wait more to finance your house or property with SBI home loan.