SBI Securities Home Loan
SBI CAP Securities Ltd. is a subsidiary of the State Bank of India or SBI. It came into existence mainly to offer financial services and products such as SBI Securities Home Loans. These are home loans offered at a very affordable interest rate, starting at 8.40% per annum. The NBFC has assisted over 30 lakh consumers in achieving their dream of buying a home with its easy-to-apply and approved housing loan schemes at a processing fee of 0.35% of the loan amount subject to a maximum of Rs. 10,000. The loan repayment tenure for SBI CAP Securities Ltd. Home Loans is up to 30 years. Both salaried and self-employed borrowers can easily apply for an SBI CAP Securities home loan, available with minimum eligibility criteria. The maximum loan amount is at the discretion of the NBFC and the borrower's repayment capacity, along with other factors.
SBI Securities Home Loan EMI Calculator
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SBI Securities Home Loan Key Highlights
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| Loan Amount | At the discretion of the NBFC |
|---|---|
| Rate of Interest | Starts at 8.40% per annum |
| RPLR | |
| Processing Fee |
0.35% of the loan amount (Max: Rs. 10,000) |
| Maximum Tenure for Repayment | 30 years |
| Penal Rate of Interest | |
| Rate Packages | Floater |
| Charges for Prepayment/Foreclosure | Nil |
SBI Securities Home Loan Interest Rates in 2024
SBI Securities has set a benchmark for itself, offering affordable housing loan schemes. The SBI CAP Securities home loan rate of interest starts at 8.40% per annum, which may vary from plan to plan. The table below shows the current SBI Cap Securities home loan interest rate 2023:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Floater Plan (For Salaried) | Starting at 8.40% per annum |
| Floater Plan (For Self Employed) | Starting at 8.40% per annum |
Interest rates were last updated on 28th September 2023
SBI Securities Home Loan Eligibility Criteria
SBI Securities home loan eligibility is based on general criteria such as age, nationality, and employment status. The NBFC works with an aim to make it easy for any interested applicant to buy a dream home by laying out easy eligibility criteria. The table below highlights all the main eligibility criteria for SBI CAP Securities home loans:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 18 - 70 Years | 18 - 70 Years |
| Nationality | Indian Resident/ NRIs | Indian Resident/ NRIs |
| Minimum Income Earned | Rs. 1,80,000 per annum | Rs. 1,80,000 per annum |
SBI Securities Housing Loan Processing Fee and Charges
SBI Securities home loan processing fee is an amount charged by the NBFC to process each home loan application. Besides, the NBFC also charges some fees as fines for late payments or cheque bounce for home loan repayment. The table below highlights the fees levied by SBI Securities housing loan schemes:
| Processing Fee | 0.35% of the loan amount (Max: Rs. 10,000) |
|---|---|
| Statutory Charges | As applicable |
| EMI/ Cheque Bounce Charges | Rs. 250 per instance |
| Late EMI Payment Charges | 2% per annum for loans above Rs. 25,000 |
| Penal Interest Rate | 2% per month |
| Foreclosure/ Prepayment Charges | Nil |
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SBI Securities Home Finance Schemes and Top Plans
SBI CAP Securities Home Finance offers interested applicants a wide range of housing loan schemes. Listed below are some of the popular offerings of this NBFC:
1. SBI Regular Home Loans
- Ideal home loans at affordable rates to purchase a ready-to-move-in home or under-construction home
- Maximum tenure of up to 30 years
- Special interest rate concessions for women borrowers
2. SBI Max Gain Home Loans
- Flexible overdraft facility
- Low Monthly Interest Rate in EMIs
- Minimum loan amount Rs. 20 lakhs
3. SBI Balance Transfer Home Loans
- Flexible option to switch to SBI home loans from existing scheme
- Additional top-ups available
- Low interest rates
4. SBI Flexipay Home Loans
- Special home loan schemes for salaried borrowers at low-interest rates
- Maximum loan repayment tenure of up to 30 years
- Flexible EMI repayment options
5. SBI Privilege Home Loans
- Special housing scheme for government employees, employees working in central government departments and public sector banks
- Maximum loan repayment tenure of up to 30 years
- No processing fee is charged
6. SBI Smart Home Top-Up Plan
- Easy and smart top-up scheme for existing home loan customers
- Quick loan sanction of up to Rs. 5 lakhs without submitting any documents
- The minimum CIBIL score required is 550
7. SBI Pre-Approved Home Loans (SBI PAL)
- Pre-approved home loan agreement letter with a validity of up to 4 months
- Special home loans with pre-approval for the purchase of a home
- Minimum loan amount starting at Rs. 10 lakhs
8. SBI Shaurya Home Loans
- Special home loan schemes for defence personnel
- No processing fee is charged
- Extended repayment age up to 75 years
9. SBI Insta Home Top-Up Loans
- Pre-approved online home loan for existing SBI loan borrowers
- Loan amounts ranging between Rs. 1 lakh to Rs. 5 lakhs
- Paperless and quick home loan processing
10. SBI NRI Home Loans
- Special home loan schemes for Non-Resident Indians who wish to own a residential property in India
- Also available as an Overdraft
- Channelize option for repayment through NRO/ NRE account or abroad
Note: All of the above home loan plans are made available to applicants solely at the discretion of SBI Securities Ltd, taking into consideration the earning and repayment capacity of the applicant.
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Documents Required For SBI Securities Home Loan
SBI CAP Securities Ltd. requires some KYC documents to verify the income, nationality, address, identity, and other details of the applicant. The SBI Securities home loan documents required list is shared below for your reference:
Documents Required for Salaried Applicants
- Salary slips for the last 6 months
- Form 16
- Income Tax Returns for the last 2 years
- Bank Statements for the last 6 months
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favor of SBI CAP Securities Home Loans
Documents Required for Self-Employed Applicants
- Business Address Proof
- Professional Practice License
- Profit and Loss Account Statements for the last 3 years attested by a CA
- Balance sheet for the past 3 years
- ITR for the last 3 years
- Form 16
- Duly filled and signed application form with a passport-size photograph
- A processing fee cheque in favor of SBI CAP Securities Home Loans
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof | Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card |
| Documents Related to Property |
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Find SBI CAP Securities Home Loan Offices Near You
Suppose you are planning to visit one of the offices of SBI CAP Securities Ltd. Home Loans near you to understand the SBI CAP Securities Loan Offer in detail and apply for the Home Loan; you can fill in the Free Consultation form, and the team of BASIC Home Loan will reach out to you for needful assistance in the process.
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
To get up to 90% of the home loan from SBI Securities, you must choose a longer repayment tenure, the right plan, and maintain a good CIBIL Score.
The processing fee charged by SBI securities for home loans is 0.35% of the loan amount, subject to a maximum of Rs. 10,000.
SBI CAP Securities home loans are offered to both salaried and self-employed individuals or joint applicants living in India as Indian Residents.
SBI CAP Securities Ltd., or SSL, is a wholly owned subsidiary or stock broking arm of the SBI. In short, it is a full-service broker offering a range of financial services and products to eligible applicants.
There is no specific minimum salary requirement put forth by SBI CAP Securities Ltd. You can verify the same by contacting the NBFC’s officials.
The current interest rate of SBI Securities home loans starts at 8.40% per annum. However, we recommend you verify the same through the official website of the NBFC.
Yes, SBI Securities home loans are good and reliable for eligible applicants who wish to buy a home of their own. It provides comprehensive and affordable housing loan schemes to customers PAN-India.
The maximum home loan amount offered is at the discretion of SBI CAP Securities Ltd. So, please check about the same for different housing loan schemes from the NBFC website.