How to Get the SBI Home Loan statement online?

This article contains information regarding the steps as to how to get the SBI home loan statement online. It also discusses the benefits of checking the home loan statement online. It also mentions the procedure of getting the SBI home loan statement. The various schemes and offers of home loans are also summarized below. The mortgage interest rates and their benefits are also discussed.

SBI Home Loan Provisional Certificate/ SBI Home Loan Statement Online

The State Bank of India is one of the oldest and most reputed banking institutions. This prime banking institution offers home loans to whoever wishes to purchase a plot of land for the construction of their own home or an apartment. There are many benefits of a home loan like lesser interests, low-cost easy EMIs, etc. It is one of the leading loan providers in India. SBI offers various schemes with an impressive interest rate.

The bank is now offering a home loan at an interest rate starting from 6.95%. It also charges a processing fee starting from up to 0.20 % (minimum-Rs. 4000 and maximum-Rs. 17,400). The various attractive schemes offered by the bank are SBI Maxgain home loan, SBI home loan top up, SBI Realty home loan, SBI repo rate linked home loan and SBI Shaurya home loan. The two methods offered for knowing your SBI Home Loan Provisional Certificate: Online and Physical. 

The online method of getting your SBI Home Loan Provisional Certificate:

You can now download or view the Provisional Interest Certificate of your home loan account by logging onto the SBI Online Portal. The SBI internet banking site has a personal banking section which provides answers to your questions on selecting the “Home Loan Int. Cert (Prov)” link. You then have to select your specific loan account for getting the SBI home loan interest certificate. Then you can either view the certificate online or download it in pdf form and get it printed. 

The physical method of getting your SBI Home Loan Provisional Certificate:

You can visit the nearest SBI branch and fill the relevant form. Then submit it with the required documents. 

The different types of home loans are:

• Home Purchase Loan- Loans with attractive interest rates that can be availed by an individual to buy a housing property, be it new or old.
• Home Extension Loan- It is offered to an individual who aims to extend the already existing house.
• Land Purchase Loan- this is offered so that an individual can buy a plot of land and use it for investing or residential purposes. 
• Home Conversion Loan- this is offered to customers who have already availed a home loan previously and wish to buy a new home. In such a case, the bank reassigns the current loan with the new house and funds the acquisition of the new residential property.
• Home Improvement Loan– This is offered to carry out repair and renovation in the current home. The application process of these loans is a bit different from general home loans.
• Balance Transfer Loan- It is offered for the transfer of an individual’s home loan from any other bank in India to the State Bank of India.

Benefits of SBI Home Loans

This prime banking institutions offer home loans at affordable rates. People can apply for loans for various purposes like home renovation, home construction, or extension loans. The benefits that are offered to the borrowers are:

• Loans are available for both self-employed and salaried individuals.
• Women loan borrowers can avail of extra concessions in SBI home loan interest rates. Daily reducing balance is charged.
• SBI loan providers offer various loan schemes that fit every customer need such as for the Government employees, NRIs, defense personnel and others.
• The home loan process is transparent which means it has no hidden charges.

SBI Home Loan Offers and Schemes

There are various schemes and offers available as per the need of the customers.

Some of the most popular schemes of SBI home loan are as follows:

• SBI Maxgain
• SBI Realty Home Loan
• SBI Shaurya Home Loan
• SBI Home Loan Top-up
• SBI Repo Rate Linked Home Loan

SBI Home Loan EMI and Eligibility Calculator

SBI Home Loan EMI Calculator- The home loan calculator helps the borrowers in planning their home loan EMIs based on the monthly interest rate and monthly reducing balance. The calculator works on the basic component like the principal amount, loan tenure, and interest rate. It helps the loan borrowers to plan their home loan. The result of the EMI calculator is reliable and accurate. 

SBI Home Loan Eligibility Calculator- It is an online tool that helps the loan borrower to get an estimate of their eligibility. Various factors like the income of the applicant, age, work experience, employment, and credit score are considered in calculating the borrower’s home loan eligibility. It also helps in understanding the borrower’s ability and affordability of a home loan.

SBI Home Loan Procedure

It is a fairly easy online process to apply for a home loan. There are five simple steps to avail the SBI home loan:

Step 1: You need to visit the website, branch, or website of authorized online channel partner of SBI. Then fill the application form with your required amount, property details, personal details, occupation details, and contact number. 

Step 2: An online partner or an SBI official will contact you to discuss your loan eligibility and also explain to you the loan rates, terms, processing fees, and other charges.

Step 3: After you agree to proceed with your loan application, you will have to submit your property documents and income proof papers. This can be done either through online services or by having the SBI representative visit your home for collecting these documents. 

Step 4: You will then be asked to submit the processing fees and take some time to conduct a credit appraisal to technically evaluate your property.  

Step 5: If you pass the loan eligibility and your property qualifies, a sanction letter will be issued to you from SBI. You will have to sign a loan agreement with the bank. After all this, the loan will be disbursed to your account.  

Documents required for SBI Home loan

The documents required for availing the SBI Home loan are as follows:

• Identity proof: PAN card, Voter ID, Driving License, and Aadhar Card.
• Property documents.
• Application form with a photo.
• Income proof:

1. For salaried candidates – Income Tax Returns for the previous 02 years in addition to the calculation of income, as qualified by the Chartered Accountant, is required.
2. For salaried candidates- salary slip for the past 03 months consisting of all deductions as well as form 16 (previous 03 years) also.

How to get SBI Home Loan Statement online?

SBI home loan statement, or the SBI home loan provisional certificate, can be availed by both offline and online services.

To avail the certificate through offline mode, the following steps are:

• You have to visit the nearest SBI bank branch.
•  Get a home loan statement form. Fill in the required information accurately, like the applicant’s name, date of birth, PAN number, residential address, the home loan details like the home loan amount, email ID of the applicant, and the phone number.
• Then submit the form after filling it, along with the necessary documents like the Aadhar card, PAN card, or passport copy. 

To avail the certificate through online mode, the following steps are:

• Visit the SBI net banking official website.
• Open the login page to enter your user id and password given to you for the net banking services.
• Then click on the ‘Enquiries’ tab.
• Under the enquiries tab, select the ‘Home loan provisional certificate’.
• To get the desired information, enter your home loan details.
• After the information is entered, the SBI home loan statement is displayed. You can view, download or print the statement as pdf file. 

Why is the SBI home loan statement required?

SBI home loan statement serves the following purposes:

• It helps to keep a regular check on the activities of the home loan. 
• It keeps the borrowers updated about their upcoming home loan EMIs, the paid and unpaid amount, and the remaining tenure.
• They are useful also after the completion of the loan. It marks the loan payment capability for future lending loans. 
• SBI home loan certificates help in claiming tax deductions. 

Mortgage loan

SBI also offers loans against property which is considered one of its prominent offerings. It offers loans to fulfill the cash requirement of the customer against their asset or property. This type of loan is also called the all-purpose loan to meet your financial emergency. You can avail this mortgage by leveraging your property. The interest rate of the SBI property loan is 10% onwards. The loan should be liquidated before 70years of age. The loan tenor is a minimum of 5 years and a maximum of 15years. The minimum loan amount is Rs. 10 lakhs and the maximum amount is Rs. 7.5 crores. The processing fee is up to 1% (maximum Rs. 50000 with added GST). The minimum net income is Rs. 25000/month. The types of SBI Loan against property are:

A). Loan against mortgage of immovable property.

This loan is issued against the immovable properties. The features/benefits of this loan are:

1. It is issued for general purposes and not for speculative purposes (in real estate or capital market).
2. The ratios of both the equated monthly installment and the net monthly income should not be more than 50%.
3. The minimum amount granted is Rs. 10 lakhs.
4. The maximum amount granted is Rs. 5 crores.
5. The maximum repayment period is 180 months.
6. The borrower can repay the loan whenever he has a surplus as the bank does not charge the pre-payment amount. 

B). Rent Plus Loan against the property.

This loan provides future rents assignment to both the residential and commercial estate owners that meet their monetary requirements. The features/benefits of this type of loan are as follows:

1. The minimum amount of loan granted in this scheme is Rs. 50,000 and the maximum amount is Rs. 7.5 crores for metropolitan cities and Rs. 5 crores for non-metropolitan cities.
2. The reserved margin by the bank is 25% of the loan amount. 
3. A lower EMI will be availed with a higher tenure and vice versa. The repayment period should not exceed 10years.
4. Repayment done either through – (PDCs) Post-dated cheques drawn on the applicant’s bank or through (ECS) electronic clearing system service.
5. The processing fee is 2.02% + GST and service tax.
6. There are no pre-payments. 

FAQS

Also read : SBI home loan interest rates 2020