SBI Home Loan Information and Check List

SBI Home Loan (New Loan / Takeover existing loan)
Interest Rate Information
Up to 75 Lacs
10.15% p.a. 
Above 75 Lacs
10.15% p.a.
Discount of 0.05% for ladies as a first applicant for loan

Processing Fee Information
Upto Rs. 25Lacs
Above Rs. 30 Lacs
Rs 6500
Loan Takeover
Before Sanction
1-Search Report -4000Rs (Not required if project has valid APF no)      2- Valuation  --  843Rs
Post Sanction
3- Loan Mortgage charges 0.2 % of loan amount.(and Rs 4500 for documentation)  
4-Property insurance Premium (aprox.- 262 per lakh)    5-Life insurance premium (added to loan)
Pre-closure / Pre-payment Penalty   NIL


Credit documents

  1. Salary slip for last 3 months stamped by HR
  2. Form no. 16 for last 2 years. (no gap )                                                   
  3. All operating Bank A/C statement for last 6 months stamped by bank.
  4. Proof of residence (ration card / electricity bill/ telephone bill/company letter)
  5. Proof of identity (pan /driving license/ voter card/ passport)
  6. All Loan A/C statement if any other outside loan.
  7. Experience letter of previous company if Present employment is less than 2 years.
  8. Confirmation letter /Increment letter of present company
  9. Investment details (FD, PPF, PF, Insurance ,FD, gold, land etc.)
  10. Margin Proof (In case of new / resell property it is proof of own contribution)

Property Documents

  1. Agreement for sale with Index2, Stamp & regi. Receipt..
  2. Approved plan copy (Sanction Plan Blue print)
  3. NOC from society/ builder.     4.Down payment receipts.
  4. Property Document Set containing   ( Development agreement, Power of attorney, NA permission, ULC order, 7/12 extracts, Title and search report, Commencement certificate)

For resale and Takeover

  1. Latest Electricity bills
  2. tax paid bill to corporation.                                 
  3. Registration certificate of the society.
  4. Completion certificate. 5.Possesion letter.        6.Conveyance deed

For Take over

  1. Sanctioned letter   2. List of documents 3. Foreclosure letter 4. Loan A/c statement   (2years)
Seller Documents for resell property-
-Pan card, Address proof, Cancelled check, Account declaration
-Cancelled cheque with sign on it. and Declaration of account no to receive funds
-Receipt of payment  made by buyer, Bank statement if requested. (originals of documents needs to be verified in branch)

Important Notes-
  • One set of document will be submitted in branch. Original documents will be required for verification and will be returned after verification.
  • Completeness of documents at first stage is key in reducing time for processing loan.
  • Complete form to be filled in own hand writing with all details.
  • Builder /Society NOC, Adv search, Valuation report will be submitted in original
  • Self Attestation is necessary on all Xerox copies Submitted like Pan Card, Passport, and Residence Proof-MSEB bill, Telephone Bill, Tax Receipt etc.
  • Guarantor is required if repayment history is less than two years in case of loan transfer
  • Interim guarantor is required in case of resale if seller has loan outstanding. Net worth of guarantor should be more than outstanding loan.
  • Two years of form 16 are compulsory. In case of gap in form 16 declaration is required.
  • In case of project has valid APF no then search report is not required.
  • Search report by SBI panel advocate for takeover and resell property is compulsory.
  • In case of loan takeover acknowledgement of payment made to old bank and original documents
received from old bank needs to be submitted by loan applicant.
  • In case of takeover loan conditional possession letter will not work.
  • For bonus consideration for loan eligibility last two year poof is required in terms of salary slip and bank statement
  • If significant money is taken from parents, relatives, friends for own contribution payment then declaration from them is required Also their pan card and bank statement will be required.

SBI Max gain Feature
An innovative and customer- friendly product to enable you to earn optimal yield on your savings and minimize interest burden on Home Loans, with no extra cost.
The loan is granted as an Overdraft facility with the added flexibility for you to operate your Home Loan Account like your saving bank or Current Account.
The product serves to minimize your interest cost by enabling you to park your surplus funds in ‘SBI-Maxgain’ (with the benefit to withdraw the surplus funds whenever you require)

Example – Person A has 20 lacs of home loan and has 2 lacs in maxgain account. Then bank will charge interest for 18lacs only instead of 20lacs. Saved interest on 2lacs will reduce you principal component by that amount

Advantages of SBI Home loan
  • Low  Interest Rate
  • Max gain Feature saves lacs rupees.
  • Bank quickly reduces interest rate as per RB rate.
  • Saving account with 4 lacs accidental insurance cover (cost 100Rs)
  • Loan transfer with Top up
Loan agreement process and Location
After loan sanctioning Loan agreement will be scheduled in slot of 2-3 hour at RACPC
Wakadewadi. Following activities need to be completed at RACPC.
-Loan agreement on stamp papers and e mortgage
- Submission of original documents like agreement, sanction plan, demand letter, architect letter.
-payment of documentation fee and equitable mortgage (in cash), processing fee, insurance    payment by cheque
-Please carry pan card copy, Index 2 copy, registration receipt copy, cheques 10-15 no.
State bank of India,
Tara chambers, Pune GPO, PO Box6, Mumbai Pune Highway, Wakadewadi, Shivaji nagar, Pune
Land mark -

After loan agreement Arrangement letter need to be sent to RACPC by registered post to by Applicant.

Useful links- (to get these documents ctrl + click on below links)
Procedure and documents to open saving account in SBI
Documents - Pan card, Address proof, 2 photo
Saving account also can be opened online with the help of below link


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  2. Experience for Home loan from Axis
    -Axis insist on Investment products alog with Home Loan from LIC, MAX Newyork,
    (i.e Mr. Gowli has been asked to take LIC Jivan Saral Policy of yearly premium of 75000/year)
    -Interest rate is more comparatively
    -Processing time compared to other private banks is much more

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