Privilege Home Loan

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Home Loan for employees of State & Central Govt/PSBs/PSUs

SBI has established the SBI Privilege Home Loan exclusively for government personnel. Individuals who work for the central or state governments, including PSBs, PSUs of the central government, and other individuals with pensionable service, are eligible to qualify for this house loan. The loan amount will be established based on parameters such as the applicant’s income and repayment capacity, age, assets and liabilities, and the cost of the planned house/flat.

Features Eligibility Documents Required
  • Low Interest Rates
  • Zero Processing Fee
  • No Hidden Charges
  • No Pre Payment Penalty
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Interest Concession for Women Borrowers
  • Interest Concession in case Check Off is provided
  • Resident Type: Resident Indian
  • Minimum Age: 18 years
  • Maximum Age: 75 years
  • Loan Tenure: up to 30 years.

List of papers/ documents applicable to all applicants:

  • Employer Identity Card
  • Loan Application: Completed loan application form duly filled in and affixed with 3 Passport size photographs
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Papers:

  • Permission for construction (where applicable)
  • Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt
  • Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary Slip or Salary Certificate of last 3 months
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Co-applicant/ Guarantor:

  • Business address proof
  • IT returns for last 3 years
  • Balance Sheet & Profit & loss A/c for last 3 years
  • Business License Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)
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