Apply for State Bank of Hyderabad Home Loan

Purpose

To purchase, construct, renovate, and purchase plots to construct dwelling units For consumer durables and furnishings (10% of the project cost or Rs.3.00 lacs whichever is less)

Eligibility

Individuals over 21 years of age and younger than 70 years

Amount of finance

For employees, who are over 21 years to 45 years of age, the loan amount is 60 times the net monthly income (NMI), net of all deductions including loan repayments and actual monthly TDS. The spouse's income can also be included.



For employees over 45 years of age, the loan amount is 48 times NMI, net of all deductions including loan repayments and actual monthly TDS The spouse's income can also be included.



The expected rentals fewer taxes in the case of house / flat being purchased which is proposed to be rented out may be added for computation of the eligibility ceiling. 

For the amount of finance, reimbursement of investment made while preceding 12 months & adding back depreciation to compute Net Annual Income for determining home loan eligibility in case of proprietary concerns is also considered.


SBOH also grants housing loans for purchase of old houses not more than 15 years old

Margin

20%  For purchase or construction of new house/flat for loan up to Rs75 lacs 
For Housing Loans to others 

Loan Amount

For House/ Flat under construction

New House/ Flats for ready possession

Old House/ Flats for ready possession

 

Up to   `20 lacs

 

15%

 

15%

 

15%

 

Above `20 lacs

 

20%

 

20%

 

20%


To purchase House Plot alone  
35% Cost of the Plot including registration, stamp duty etc.
For furnishings/consumer durables as a part of the project cost  
20%  of the cost of the estimation.

Repayment

Repayment is in Equated Monthly Installments (EMI)
For applicants up to 45 years of age: 240 months
For applicants over 45 years of age: 180 months (subject to repayment of the loan with interest, before the borrower attains 70 years of age, where check-off facility is available)

State Bank of Hyderabad Home Loan Interest Rate

Period/ Amount

Up to Rs 30 lacs

Above Rs 30 lacs

Up to 5 Yrs

11.75%

12.00%

Above 5 to 15 years

11.75%

12.25%

Above 15 to 20 years

11.75%

12.50%

Fixed rate Housing Loan

Max Loan of Rs 10.00 lacs Max Term 10 years

13.00%

Processing charges

0.5 %, irrespective of the loan amount, subject to a cap of Rs.10,000/- (including applicable service tax) payable at the time of submission of application to the bank.

Insurance

Property purchased with bank finance should be fully insured

Security

Mortgage of the property purchased