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State Bank of India Home Loan - Processing Fee, Pre-closure and Other Charges
State Bank of India (SBI), the largest bank in India, has the most significant loan portfolio amongst all other banks in the country. Of all the different kinds of loan products offered by SBI, the Home Loan is the most popular one. The advantage of SBI Home Loan is that the bank charges one of the lowest interest rates in the country. Recently, the bank has switched over to the Repo-linked Home Loan Interest Rate. The interest rate structure is one of the reasons for the popularity of SBI Home Loan.
The other contributing factors are as follows:
- SBI is highly accessible from anywhere in India because of its vast presence. It has more than 24,000 branches situated in every nook and corner of the country.
- SBI has a transparent loan approval procedure with a large number of credit processing centres in the major cities and towns in India.
- The bank has a reasonable fee structure comprising of processing fees and other charges related to Home Loans.
- Foreclosure of SBI Home Loan is a convenient procedure
SBI Home Loan Processing Fee
SBI offers a bouquet of Home Loans catering to different segments of society. The processing fee for each product can differ. GST as applicable is payable on such processing fees separately.
The processing fees for the following Home Loan products are as listed below:
- SBI Regular Home Loan
- SBI Balance Transfer of Home Loan
- SBI NRI Home Loan
- SBI Flexipay Home Loan
- SBI Pre-approved Home Loan
- SBI Realty Home Loan
- SBI Home Loan Top-Up
- SBI Home Loan to Non-Salaried - Differential Offerings
- SBI Tribal Plus
- SBI Commercial Real Estate (CRE) Home Loan
- SBI Repo Rate (RLLR) Linked Home Loan
0.35% of the loan amount with a minimum of 2,000 and a maximum of 10,000 plus applicable taxes
Advocate fee and valuer's fee
As per actual, payable separately
Stamp duty for loan agreement and mortgage
Depends on the State Laws
Payable separately depending on the amount of loan
CERSAI registration fee
50 for loans up to 5 Lakhs and 100 for limits more than 5 Lakhs
- SBI Privilege Home Loan: There are no processing fees for this Home Loan product. However, the structure of the other fees remains the same as that for other loan products.
- SBI Shaurya Home Loan: No processing fees, the other fee structure remaining the same as above.
- SBI Bridge Home Loan: The processing fee is 0.35% of the loan amount with a maximum of 5,000. Other charges remain the same.
- SBI Smart Home Top-Up Loan: A flat processing fee of 2,000. As this product is available for existing Home Loan borrowers, the advocate and valuer's fees do not apply.
- SBI Insta Home Top-Up Loan: A flat processing fee of 2,000. Other charges do not apply
- SBI Corporate Home Loan: Processing fee is 0.50% of the loan amount with a minimum of 50,000 and a maximum of 10 Lakhs. The other charges remain the same.
- SBI Earnest Money Deposit (EMD): Processing fee is 0.50% of the loan amount with a minimum of 1,000.
SBI Home Loan - Prepayment Charges
SBI permits part as well as a full prepayment of Home Loans. As on date, SBI does not charge any penalty on Home Loan prepayment.
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What data is collected from you automatically?
We will automatically receive and collect certain anonymous information in standard usage logs through our Web server, including computer-identification information obtained from "cookies," sent to your browser from a:
- Web server cookie stored on your hard drive
- An IP address, assigned to the computer which you use
- The domain server through which you access our service
- The type of computer you use
- The type of web browser you use
Data which we collect from you:
- Name including first and last name
- Email address
- Mobile phone number and contact details
- ZIP/Postal code
- Demographic profile (like your age, gender, occupation, address)
- Preferences (such as housing loan, education loan, personal loan, credit card, car loan);
- Financial information (like salary)
Why we collect the information?
We use contact information internally to send sms/email alerts to you for your login details and alerts on bidders requests or some advertising messages/emails from us. If at any time you wish to stop these sms/email alerts all you have to do is write an email to us
firstname.lastname@example.org with your mobile numbers and your mobile number will be deleted from the alerts list. Your information may remain stored in archive on our servers even after the deletion or the termination of your account. The site contains links to other Web sites.
We are not responsible for the privacy practices of such Web sites which we do not own, manage or control.
We will not use or rent your financial information for any purpose other than to complete a transaction with you. By giving us the information you are giving us permission:
- To provide products or services you’ve requested
- To disclose the information under special circumstances such as compliance with applicable local law, court summons, court orders, requests/order from legal authorities or law enforcement agencies requiring such disclosure.
We will send information about you to other companies or people when:
- We need to share your information to provide the product or service you have requested to enable them to contact you;
- We have your consent from you to share the information;
- We will never share/sell your information to anyone except to banks and marketing partners (like Google, Facebook, etc.);
- We will share the information to banks will be solely for the purpose of completion your application;
- We need to share your information with certain service partners in order to respond to your queries / comments or to resolve service issues and to serve you better.
- To unsubscribe for alerts, the email should be email@example.com and user needs to mention his email and/or mobile number which he wants to unsubscribe;
- Financial information (like salary)
mymoneymantra may amend the policy from time to time.