SBI Home Loans

Published by Virtual India Index on October 21, 2008 – 6:00 am34 Comments

SBI Home Loans

The State Bank of India, or SBI, is one of the earliest banks of our country and still respected by its competitive private counterparts. Like various other companies financing for your Home loans, the SBI has developed its own Home loan policies. The SBI Home loans have been formulated, especially with the knowledge of the basic needs of our nation’s people and are quite thrifty.

The different forms of SBI Home loans under which the bank may provide finance to the individual are:

• ‘SBI-Maxgain’ Home Loan
• ‘SBI-Flexi’ Home Loan
• ‘SBI-Freedom’ Home Loan
• ‘SBI-Realty’ Home Loan

The schemes that are provided by SBI Home loans allow full transparency among the bank and the customer and are conducted in such a manner, in which the individuals do not have to go through much of a hassle. The most interesting aspect about SBI Home loans is that they do not have any upper boundary on the maximum amount, with which we would be able to build or buy a new house for ourselves. Even the eligibility criteria is broadened in case of SBI Home loans, as to apply for it you simply have to be an adult, i.e. above 18 years, or you must be having a income source that is steady.

The SBI Home loans generally cover up to 90% of the total amount that we have to pay for having a new house, and it enables us the liberty to repay the entire loan and the interest till we are of 70 years. Like many other home loan policies the SBI Home loans also provide the Free Personal Accident Insurance cover for their clients.

Along with all such facilities, the SBI Home loans provide us with exclusive benefit packages that may cover several things, ranging from the ATM-Debit card to be used internationally to SBI Classic or International Credit card. There are also other features along with these, which may include 50% concession on the remittance charges or for outstation cheques being collected and the option of doing online banking. Thus, many individual prefer to go for SBI Home loans than any other services, because of the smooth functioning assured.

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