The giant in public sector banks in India, State Bank of India (SBI) has decided to give top priority to home loans this year. In its new venture, it has decided to go at the top speed while capturing the home loan segment in India. Unveiling its plans, the bank’s managing director, informed the public that the bank has disbursed home loan worth Rs 3000 crore in the year 2012-13. SBi has strengthened its position by catering to the home loan segment by availing loans at the lowest interest rate of 9.95 percent. Remarkably SBI also stays ahead in taking over loans from other banks from the new customers. The bank has also maintained a strong position by refinancing home loans mortgaged or loaned by the other banks.
SBI’s home loan business has grown at the fastest rate over the years.
Providing a host of benefits, SBI has made the home loans really beneficial by the following services.
- It has given a package of select benefits. The benefits are low interest rate, which go lower with the reducing balance.
- Remarkably the processing charges are also lower.
- There is nothing like hidden charges or administrative costs, while you can prepay the loan when you have surplus amounts of money.
How can you apply for a home loan from State Bank of India (SBI)?
- There are 13, 700 branches throughout the nation. You can select the branch nearest to your home and apply for the loan in consultation with the branch head. All the branches of SBI have in them application forms for loans.
- Login to this page and know about the provisions about home loan facilities available with SBI in its portal.
- This portal of SBI has exclusively mentioned about the home loan on the left of the web page. Click on all the features under the HOME LOANS category to know about the highlights.
- You can also download the home loan application form listed under the HOME LOANS.
- You can file application with the nearest branch of your city with all the documents and credentials.
- If you have earlier maintained an online account with SBI, you can login to check your status of home loan.
- Else, SBI takes one month of time to process your application and after due inquiry gives you the sanctioned amount as loan.
How to check your application status with Online SBI
- Please login to www.onlinesbi.com and login with your username and password.
- Please click on the top row on “enquiries” as shown in below image:
- Click on the “home loan int. Cert.”
- It will show you the option to download home loan interest certificate. In above shown image you can also click on ‘Housing Loan Interest’ that will show the current interest rate application on your home loan and also show the status for your home loan application.