How To Apply For SBI Home Loan Online/APP?

Published: Tuesday, May 4, 2021, 8:51 [IST]

SBI Home Loans is India's largest mortgage lender, having assisted over 30 lakh families in realizing their dream of homeownership. The new home loan interest rates start at 6.7 percent for loans up to Rs 30 lakh and rise to 6.95 percent for loans above Rs 30 lakh and up to Rs 75 lakh, according to the latest figures. The interest rate on home loans of more than Rs 75 lakh would be 7.05%.

Borrowers who are women will receive a special 5 basis point discount. Customers may also apply for a loan from the comfort of their own homes using the YONO App, receiving a 5 basis point interest reduction, according to SBI.
The longer the term, the lower your EMI will be, but the higher your interest outgo will be. You pay a higher EMI for a shorter term, but the loan is repaid quicker and you pay less interest.

SBI Home Loan Balance

SBI home loans are usually disbursed within 3-10 days of receiving adequate and full documents and completing all necessary procedures. The home loan balance is usually determined based on your EMI and NMI ratio, where NMI is your take-home pay after taxes and other payroll deductions, in addition to other requirements and norms of the lending bank. The EMI/NMI ratio ranges between 20 and 70 percent depending on the Net Annual Income slab. By adding a co-applicant, the loan amount may be increased.
To calculate the loan amount, you and your spouse's wages can be combined. When the property is jointly owned with the spouse or the spouse is a guarantor, this may be accomplished. As a result, it ensures that the entire process of financing your home is as flexible as possible.

You can apply for a Home Loan through the following online modes:

Website at- https://onlineapply.sbi.co.in/personal-banking/home-loan
YONO Mobile App- https://www.sbiyono.sbi
SMS 'HOME' to 567676
Call on 1800112018
https://homeloans.sbi

How to apply for SBI home loan online?

Step 1: Visit the SBI website at https://onlineapply.sbi.co.in/personal-banking/home-loan
Step 2: Enter all the required details of including property, income source.
Step 3: Enter captcha, tick the box
Step 4: Click on the 'Get Loan Quote' option
Step 5: You will receive a loan offer Via email
Step 6: Complete the application for an SBI home loan
Step 7: Get instant approval for your SBI home loan.

To calculate the loan amount, you and your spouse's wages can be combined. When the property is jointly owned with the spouse or the spouse is a guarantor, this may be accomplished. As a result, it ensures that the entire process of financing your home is as flexible as possible.

How to apply for SBI home loan Via Yono APP?

Step 1: Download the SBI Yono application
Step 2: Sign in using credentials
Step 3: Click loans and Home loans
Step 4: Click on Apply new home loan tab
Step 5: Enter personal details, Work details, Income details, and select the mode of payment
Step 6: Tick mark the terms and conditions
Step 7: Enter co-applicant details
Step 8: Enter Property details and click next
Step 9: Enter home loan details such as loan amount, tenure and Click next
It will display your monthly EMI
Step 10: Once it is processed, it will show recommended home loan products, interest rates, and click on next.

Congratulations! You will receive notification of in principle notification and you can download the same. Submit this application along with other documents to the required SBI branch for processing.

Basic Documents required for home loan approval

Application Form
2 passport photos
PAN Card
Aadhaar Card
2 Years ITR or Form 16
6 months salary
Bank account statement
Valuation and TIR Report

SBI Customer Care

For instance, if you're contacting SBI about a home loan, provide all pertinent information, such as the application ID, dates, and so on. Keep all of these documents on hand in case you get a call from the bank's customer service department.
customercare@sbi.co.in
Toll-Free No - 1800 425 3800
080-26599990
Send SMS, 'REGAccount Number' to 09223488888