Why you should trust SBI home loan?

Why you should trust SBI home loan?

It is observed that the SBI home loan is one of the most preferred home loans in India. There are several reasons for which it has gained our trust. Here are all the reasons that have made SBI home loan so much trustworthy. 

Several choices

SBI offers ample amount of Home loans for residents and NRIs, balance transfer, top-up loans, bridge loans, pre-approved loans and many more. An additional concession of 0.05% is also offered to lady borrowers. Here is a complete list of SBI home loans along with all the benefits and interest rates. 

SBI Regular Home loan: 

This loan can be availed by anyone between an age range of 18 years to 70 years. No extra charges are needed to be paid in case of prepayments. A processing fee of only 0.35% of the total loan amount is required. The Interest rates are different for men and women respectively 8.40% and 8.25% onwards. 

SBI Flexi Home Loan:

This loan offers you a special payment option, where you can pay just the interest component during the pre-EMI period. Just for younger professionals, there is an improvement in the criteria of 20%. The interest rate for women and the processing fee is the same as that in the Regular Home Loan SBI. the interest rate is 8.40% onwards for male borrowers.

SBI Privilege Home Loan:

This loan is specially designed for central as well as state government employees. So, it is obvious that there will be some add-on benefits that will be provided. If the borrower goes for the check-off then an additional discount will be given on the interest rate also no processing fee is charged for availing this loan. The normal interest rate is 8.45% onwards and if one chooses the check-ff the interest rate will be 8.40% onwards.

SBI Shaurya Home Loan: 

This home loan is for armed forces and defense personnel. It offers a lower interest rate along with a longer tenure option. The interest rate and processing fee are similar to the SBI Privilege Home Loan.

SBI Tribal Plus:

This loan is for those who belong to the tribal community or hilly area. With a processing fee of 0.35%, this loan can be availed with a tenure of up to 15 years. This offers an interest rate of 8.55% and 8.50% for males and females respectively without mortgaging the land and also any third party guarantor is allowed.  

Apart from all these, there are many more options for the SBI home loan that one can avail of. 

Fully legally verified

The verification process of SBI is one of the best. Before giving any loan, State bank of India verifies all the details duly and one can be assured that if a project passed by SBI verification then there is little chance of having any legal issue. 

Huge branch network

SBI has the largest network among all other banks. It has 13000 branches all across India. So, it is quite easy to find the nearest branch of SBI for availing a loan. The process also can be done online by visiting the official website of SBI.

Before opting for any loan, the borrower should do good research and get a thorough knowledge of all the terms and conditions along with current home interest rates in order to choose the best suitable one as per the requirement. 

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