SBI FESTIVAL LOANS
Purpose – To meet any kind of festival related expenses.
Eligibility – You are eligible to avail a Festival Loan if you are:
-An Employee of Govt., PSUs, profit making public/private limited companies/ institutions etc with a minimum of 2 years service OR
-Self employed person with minimum 3 years standing/experience OR
-A person having regular source of income from verifiable channels like Pension and interest from TDRs/NSCs/Govt. Securities etc
-You have a net monthly income of Rs.3000/- and above.
-Your spouse’s income can also be considered in calculating the loan amount provided he/she guarantees the loan or the loan is taken jointly.
Loan Amount – Your festival loan limit would be determined by your income and repayment capacity.
Minimum : – Rs.5000/-
Maximum : – 4 times your Net Monthly Income, subject to a ceiling of Rs.50,000/-.
Documents Required –
-Passport Size Photograph
-Proof of official address for self...
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RELATED HOME LOAN PRODUCTS
A) Earnest Money Deposit (EMD) Scheme – Many Government agencies, like Urban Development Authorities and Housing Boards, periodically come out with schemes for sale of plots/houses, wherein applicants have to submit 10-20% of the cost of plot/house as Earnest Money Deposit (EMD) and allotments are made by draw of lots.
The SBI EMD scheme is designed for financing against earnest money for allotment of a house/plot. Individuals above 21 years of age and with a steady source of income are eligible to avail loans under this scheme.
Attributes of Earnest Money Deposit (EMD) Scheme –
-No minimum income criteria.
-Margin waived in al cases.
-Eligible for 100% of application money, subject to maximum loan amount of Rs.10 Lacs.
-Waiver of security in all cases irrespective of the loan amount.
The above mentioned features of the scheme are applicable subject to the following conditions:
-Allotment letters/refund orders should be routed through SBI.
-Lump...
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HOME LOAN TOP-UP PRODUCTS
A) SBI Home Line – SBI Home Line Special Personal Loans come with inbuilt provision to sanction personal loans to home loans borrowers with a satisfactory repayment record of 3 years. The rate of interest charged on these personal loans is only 50 bps above the Home Loan interest rate applicable to the repayment tenure opted by the borrower (floating rates only), prevailing as on the date of sanction of ‘SBI-Home Line’ Special Personal Loans.
B) SBI Home Plus – SBI Home plus is scheme is launched for granting personal loans to the banks home loans customers against the security of their house property. All home loans customers with a satisfactory repayment record of at least one year and who maintain a Savings bank or current account with us.
The loan can be used for any purpose, viz. extension/repair of house, purchase of car/ consumer durables, education / medical expenses of family members, personal expenses, etc. There will be no need to...
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HOME LOAN PRODUCT VARIANTS
A)SBI Max Gain (HOME LOAN AS AN OVERDRAFT)
-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 SB 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), specially in the wake of low yields from other deposit/ investment avenues.
Minimum Loan Amount: Rs.5 lacs
B)SBI Freedom
-A revolutionary product designed for customers who are on the look out for a source of finance for a property they want to invest in without mortgaging the same. All you have to do is pledge any financial security that you have and you will get a Home Loan for your dream home.
-A must-take for those who do not...
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