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An Expert Guide For SBI Loans

Sometimes, in our life we meet financial needs and liabilities suddenly. At that time, we required a certain amount of funds instantly which will spend money generally on education, vehicles, home, vacation, marriage and any medical emergency. In that situations, we have no time to arrange massive amount with in shorter period. In order to face that financial needs personal loans playing a crucial role. State Bank of India (SBI) is one of the largest lender in all over the country which offers an exciting personal loans and Schemes to remove your financial stress with less interest. SBI bank offers various categories of loans such as SBI home loan, SBI Car loan, SBI home loan and other.

SBI Home Loan

Home loan is a most crucial and important financial need in every one’s life. Get ownership of a house is one of the successful step to all the middle-class people. State bank of India provides a home loan with a low processing charges which makes affordable for the customers. Before going to apply for home loan just try to refer all the current and previous Interest rates at every rates. The rates of interest for SBI are also low when compared to other providers. SBI runs nearly 15,969 branches which make it easier for the Customers to get Home loan from the nearest branch of his or her present residence. SBI also provides great offers on SBI Credit Cards and SBI Debit Cards for hassle free banking.

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SBI Home Loan Interest Rates for Women & others

Women (Up to 30 Lacks): 8.30%
Others (Up to 30 Lacks): 8. 35%
Women (Rs. 30- 75 Lacks): 8.50%
others (Rs. 30- 75 Lacks): 8.55%
Women (Above 75 Lacks): 8.65%
Others (Above 75 Lacks): 8.70%

Eligibility to Get SBI Home Loan

  • Candidates age limit must be in between 18 to 70 years as on the date of Loan Section.
  • Depends on the following factors the age limit will be increased.
  • Income of Spouse, Son/Daughter living with the candidates and they have to maintained steady income or respective salary account with SBI.
  • Expecting rent income to be gain whether the house is expecting to be rented out.
  • Regular Income details.
  • As security, equitable mortgage of the property will be needed. You can also check the loan status with the help of SBI Mobile App instead of net banking.

Required Documents For SBI Home Loan

  • Filled Loan Application Form.
  • 3 recent pass port size photographs.
  • photo copy of Identity cards it maybe Voter ID or Aadhaar Card or Driving License or IT Pan Card or Passport
  • Residential Proof along with the photo copy of recent Electricity bill or telephone bill or Property Tax receipt.
  • For non-salaried individuals have to submit proof of Business address.
  • Last 6 months SBI Bank account Statement or Passbook.
  • Identification of Signature from the current bankers. You can also check the eligibility criteria with the help of SBI Net Banking.

Willing Applicants may apply for home loan through SBI home page and fill the application through online in a prescribed format.

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SBI Car Loan

SBI is one of the key provider of car loans in Indian. It provides the best deal for financing to buy a new car with lowest interest rates and EMI. It required minimum paper work and quick payment of the loan. SBI offers car loan in different categories such as New car loan, Pre-owned car loan, Nano youth car loan, Combo Loan, Loyalty Car Loan, NRI Loan scheme and Used car loan. Candidates have minimum 2.50 lakh Annual income to get car loan in SBI. The bank of SBI charges 9.65% interest for women candidates and 9.70% for other candidates.

Loan Schemes With Vehicle & Category wise

New Car Loan

  • Interest rate for Women: 9.65%
  • Interest rate for men: 9.70%

Combo Loan

  • Interest rate for Women: 9.65%
  • Interest rate for men: 9.70%

NRI Car Loan

  • Interest rate for Women: 9.65%
  • Interest rate for men: 9.70%

Pre-Owned Car Loan (certified)

  • Interest rate for Women: 13.10%
  • Interest rate for men: 13.10%

New car under Loyalty Scheme

  • Interest rate for Women: 9.55%
  • Interest rate for men: 9.60%

Used car under Loyalty Scheme

  • Interest rate for Women: 10.85%
  • Interest rate for men: 10.90%

Eligibility For SBI Car Loan
Candidates those who want apply for the car loan through SBI, age limit should be in a middle of 21 to 65 years.
Applicants have to maintain a regular income source it may be a self employed or Salaried Individual.

  • Candidates must have SBI Savings Account to apply for car loan.
  • The net income essential to varies based on their employment type.
  • The Net annual income for Self-Employed candidates: Income between 2 lacks to 4 Lacks
  • The Net annual income for Employed candidates: Income between 2 lacks to 3 Lacks

How to Apply for SBI Car Loan
Before going to apply for car loan, utilize the online car loan EMI calculator to check and compare the other car loans which scheme is the best for your budget and requirements. Now, fill the application through online mode by following the official site and get instant approval. If you have any queries regarding loans you can contact SBI Customer Care with out vising the bank personally.

SBI Loan Status, Calculator & Interest Rates

After completion of all the process to apply loan, you can check your status whether it will approved or not. By following the below steps you can get the Status of loan immediately.

  • Login to the Official Site of SBI
  • Select the type of loan and type the application ID
  • Enter your date of birth
  • Then it will ask to enter the string which displays on the monitor
  • Click on to the submit button and get the status.


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