Fulfill the SBI home loan document required to get a quick home loan approval. The list of SBI home loan documents varies for existing and new customers. Also, salaried and self-employed individuals submit different income proofs. Existing customers get the advantage of no-paperwork approvals with a simplified documentation process. Check the list of SBI home loan documents required to get your dream loan.
The Documents Required for Home Loan SBI must be submitted along with a filled up application form. The document requirements vary according to the profile of the applicant. Below is a list of all the SBI Home Loan documents that one needs to submit for a Home Loan as per their employment status and other parameters.
In general, there are some SBI Home loan documents that every applicant has to submit. We will view the specific SBI documents required as per the profile of the applicant in the following sections.
However, these are the main documents that are mandatory for all:
Tip: Check credit score before applying for a loan
SBI has special loan products directed towards government employees. The SBI home loan documents for government employees are as follows:
The SBI home loan documents for self-employed applicants vary slightly in comparison to government employees or salaried individuals.
Here is a list of documents that they need to submit:
Also Check: SBI Home Loan CIBIL
Most SBI Home Loan products do not require a guarantor. Wherever required, the SBI home loan documents required for salaried, self-employed and NRI guarantor are as follows:
Here is a detailed SBI Home Loan Documents List for NRI and PIOs in order to avail a loan for property purchase:
Additional Reading: Cibil score required for home loan
State Bank of India allows customers to transfer the balance from existing home loans with other banks or financial entities to SBI in order to enjoy the features and benefits of the SBI Home loans.
The SBI home loan documents required for Home Loan Balance Transfer are as follows:
Also Check: SBI Free Cibil Score
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The loan documents required for SBI home loans vary according to the individual profile. However, here is a list of general documents required for SBI home loans:
You can now apply for a home loan online with SBI. Follow these simple steps and send in your application:
The property documents needed for SBI home loans are as follows:
The best way to apply for an SBI Home loan is to submit an application online. The procedure is as follows:
Yes. You can apply for an SBI home loan online directly on the SBI portal or through MyMoneyMantra. Online application is more convenient and allows faster approvals on the loan application as well.
In order to show their income, self-employed individuals must submit the following documents:
The documents submitted with your SBI home loan application allow the bank to determine your eligibility for the loan. Here are the primary eligibility criteria that you need to fulfil in order to get an SBI Home Loan:
These eligibility criteria show that you have the financial ability to make regular repayments towards the loan. Customers who fulfil these criteria are also eligible for lower interest rates.
Yes. You can choose balance transfer with SBI Home Loans. So, if you have any pending home loan with another banking institution, you can transfer it to SBI. This allows you to get all the benefits of the home loans offered by SBI including competitive interest rates.
You can contact the customer care service to inform them that you have sent in the wrong document. However, it is advisable that you check your application thoroughly before submitting it to prevent it from getting rejected.
SBI offers both fixed and floating interest rates on their home loans. The lower interest rate offered is 6.70% per annum. This is subject to change based on the eligibility criteria of the individual.