SBI HER GHAR (HOME LOAN FOR WOMEN) AT CONCESSIONAL INTEREST RATE
HER GHAR
HOME LOAN FOR WOMEN
AT REDUCED INTEREST RATES
@ 10.10 % (EMI RS 885/ lac for a period of 30 years) subject to the following two conditions
1. The woman should be the sole applicant or first co-applicant of Home Loan
2. The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership
Eligibility:
Minimum age: 18 years as on the date of sanction
Maximum age: 70 years. i.e. the age by which the loan should be fully repaid, subject to availability of sufficient, regular and continuous source of income for servicing the loan repayment.
Loan Amount:
Actual loan amount will be determined taking into consideration such factors as applicant's income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc. To enhance loan eligibility you have option to add:
1) Income of your spouse/ your son/ daughter living with you, provided they have a steady income and his/ her salary account is maintained with SBI.
2) Expected rent accruals (less taxes, cess, etc.) if the house/ flat being purchased is proposed to be rented out.
3) Depreciation, subject to some conditions.
4) Regular income from all sources.
Security:
Equitable mortgage of the property
Home Loan Interest Rates for Women
For Women Borrowers w.e.f. 20.12.2013
| Loan Amount | Spread over the Base Rate(Base Rate: 10%) | Effective Rate |
|---|---|---|
| Upto Rs. 75.00 lacs | 10 bps above the Base Rate | 10.10 % p.a. |
| Above Rs. 75.00 lacs | 25 bps above the Base Rate | 10.25% p.a. |
| No Fixed Rate option will be available in any limit brackets. | ||
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i. The woman should be the sole applicant or first co-applicant of Home Loan and also
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ii. The property proposed to be financed should be either in the sole name of the woman borrower or she should be the first owner in case of joint ownership
