The SBH has revised the base rates of the SBH home loan interest rate to make the dream of the owing a house depending on the individuals economical class come true. The minimum lending rate of the bank is 10.25% per annum. The SBH is laying foundation for grabbing new customers with new loans, and advanced features. Most of the customers are curious to avail the instant SBH home loan facility from SBH as well.
EMI of the home loan
Customers are keen to avail a personal loan to construct, purchase, or renovate their dream home. The eligibility of pursuing a home loan starts from 21 years to a maximum of 67 years. One can go for the EMI option for repaying the amount take from bank as SBH home loan interest rate. Individual opting for 240 months EMI should pay upto 45 years with a float interest of 9.25%. The prepayments of the loan include free of cost.
The processing fee of the SBH home loan is 0.05% irrespective of the loan amount. The amount should be paid at the time of application submission to the bank. Spouse income can also be included in the monthly TDS. For employee at 21 years age should pay amount in 60 times to the net monthly income.
The documentation of home loan from SBH loan include:
- Complete loan application
- 3 passport size photographs
- Statement of Bank account
These also include proof of identity such as Driving license, Voter identity, Aadar card.
Margin for Home Loan
The SBH offers considerable margin for the individuals interested in pursuing home loan:
Consider 20% For SBH Home Loans to employees and self-employed. The Government services include both State and Central Government employees. Purchase of house plot can be upto 35% including registration and stamp duty. The processing fee is 50% off for the customers.
Individuals interested to avail loan upto Rs. 30Lakhs for a period of 20 years is 10.20%. The SBH home loan interest rate home loan more than Rs 30Lakhs upto 20 years is 10.20%.
SBH Home Loan Interest Rate
Home loan has become a compulsion in today’s life. This is the reason why banking sector is enjoying its golden period, and is most likely to enjoy even more in the months and years to come. All banks in India are well aware from this demand and that’s why are working day in and day out to increase their customer base. There is tough competition going on between the banks to provide better service, offers so as to catch attention of customers. In this field of competition, the State Bank of Hyderabad is not behind. SBH is counted among the best state banks of country. This bank has got lucrative offers to please us all. Yeah, it has got offers in the Housing Loan field as well.
Talking about the home loans, SBH provides them at a low interest rate. Oh! So you are interested in knowing about the SBH Home Loan Interest Rate? Well, writing about the most up-to-date SBH home loan interest rate in the below section.
The current interest rate on home loans by SBH has been into the effect since 1st of April of this year. As per it, for loans of up to Rs. 30 lacs, there is annual interest rate of 10.20 percent. The maximum time limit is 30 years. So you don’t only have to pay low interest rate, but also you get a long time to clear the loan amount. Win-win situation, right? For the amount of more than Rs. 30 lacs, the same interest rate, that is 10.20 percent is applicable. Under the SBH Maxgain Housing Loan, there is again interest rate of 10.20 percent.
The interest rate that SBH demands is not high at all. The bank is known for its good friendly service. In case you find yourself interested in getting house loan from the SBH, just give them a call, or have a meet with the manager of your local branch. For any queries regarding SBH home loan interest rate, just use the below comment box.
Raj Kumar is a qualified business/finance writer expert in investment, debt, credit cards, Passive income, financial updates. He advises in his blog finance clap.