SBI Home Loan Check List of Documents

• Bank: State bank of India Special Home Financing Branch, Jayanagar, Bangalore (Pros and cons of this branch)
• Interest rates (As of 1st Jan 2011) : 1 year – 8.5% per annum
  2 & 3rd year – 9.25% per annum

List Of Documents

Applicant Documents

2. Duly Completed Application form
4. 3 Passport size photographs
6. Employee ID card
8. PAN Card
10. Passport
12. Date of birth proof: Birth Certificate/School Leaving Certificate/SSLC Marks card.
14. Driving License
16. Proof of Residence: Telephone bill/Electricity Bill/Property tax Receipt/Letter from Employer/Lease or Rent Agreement/Gas Connection
18. Appointment Letter
20. Cost to the Company (Latest hike letter will be suffice)
    
22. Payslips: Latest 3 months Salary slip
24. Form 16 for the previous 2 years along with the IT Return duly acknowledged by the IT authorities
26. Bank statement /Pass book for the last 6 months where salary is credited
28. Loan Closure Statement: If you have any other Loans sanction letter with full settlement of account till date
30. Proof of Source of Margin Money (which should be mentioned in the application at the sources of funds and use of funds column)
32. Proof of Margin Money already paid
34. Proof of Assets as declared in the application form (eg: photocopies of LIC policies, papers of immovable properties, shares/debentures. you can show gold as asset which doesn’t require any proof)
36. Marriage Certificate in case of joint borrowing
38. Highest Qualification Certificate
40. RC book of Vehicles used
42. Cost Breakup letter from the builder
44. E-mail id of HR person for confirmation of employment Status

Property Related Docments

2. Legal Opinion from an advocate who is a member of SBI Panel
4. Opinion from a Valuator who is a member of SBI Panel (This is to ascertain that the property which we are planning to buy has a market value which the builder is claiming. Bank will give loan for the minimum of the following min[80% of the value by builder, 80% of the value quoted by Valuator])
6. Photocopies of Land originals to be kept ready for verification
8. No Objection letter from the financier in case the builder has availed project loan or a letter from the builder certifying that no loan has been availed
10. Sales Agreement & Construction Agreement Copy

Guarantors Documents (Guarantor is required only if the construction is going on)

2. 3 Passport/Stamp size photograph
4. Employee ID Card
6. Passport, Voter’s ID Card, PAN Card
8. Bank Statement/PassBook for the last 6 months where Salary is credited
10. pay Slips for the last 3 months
12. 2 years IT Returns and Form 16
14. Proof Assets as declared in application form