Home > Home Loan Process > Pros and Cons of Special home Loan branch

Pros and Cons of Special home Loan branch

Bank: State bank of India Special Home Financing Branch, Jayanagar, Bangalore


  • Very Fast (As per the Chief Manager, Maximum number of days to get a loan Sanctioned is 8 days provided you have submitted all the required documents)
  • Good Personal relationship: Once a Loan application is submitted a Manager is assigned just for you and from now on we will be in touch with the manager
  • They work on Saturdays(till 12 PM) and Sundays(till 3PM) as well (Monday is the holiday for them)


  • Have to go personally to the Bank multiple times (They say at max 3 times we have to come to the bank..but that actually matters. In my case I have gone there more than 10 times)
Categories: Home Loan Process
  1. Vijay
    February 13, 2012 at 6:42 PM

    Hi Joseph,
    Thanks for your information on SBI home loan process. Really appreciate your initiative. I have a query. I am planning to take a home loan for a flat under construction near KR Puram. The builder says it is not advised to go for SBI loan as they will take minimum 3 months for the loan amount to be sanctioned which may result in paying a penalty to the builder for delayed payment?? Is it really the case?
    Also, could you please suggest how can I get the SBI loan get sanctioned quickly? I have taken a pre-legal opinion form my private lawyer and all the docs are in place.


  2. February 13, 2012 at 8:18 PM

    Hi Vijay,
    Thanks. As I mentioned in the post, normal SBI branches take considerable amount of time where as the advantage wth Special home loan branch is that normally if you have all the documents and the legal opinion from an SBI approved advocate and Valuation statement from a SBI approved valuator, then you may get the loan in atmost 8 days. But again in my case due to some unexpected audits which happened in the branch delayed my approval. It took me almost a moth including the collection of all the docs which I mentioned(including legal and valuator).

    • Vijay
      February 14, 2012 at 6:01 PM

      Thanks for the response.

  3. abrar
    February 20, 2012 at 9:21 AM

    hi Joseph,
    thanks for all explanations. I am also in the process of taking a home loan. Can you give me the address of this branch?

  4. February 20, 2012 at 9:58 AM

    Hi abrar,
    The address is State bank of India Special Home Loan Branch
    No.1151/A, 2ND Floor, Opp BTS Bus Depot, 26th Main, jayanagar 4th block, Bangalore – 560041

    Address Courtesy: justdial.com

  5. May 22, 2012 at 1:18 PM

    Hi Joseph,

    I am premal, looking for SBI Home loan of amount Rs. 11,44,000/- However i want the knowledge for loan approval to end process. i.e. no one clearly indicate the same in short way.

    regarding property i have purchased Flat at forth floor (Banakhat + construction agreement)

    As verbally informed by SBI brach Manager
    Processing : 0.25% of loan amount
    Handling charge : Rs. 1500
    Mortgage : 0.35% of Loan amount (advocate fee extra : Rs. 1660 to 2000)
    Stamp : Approx 6000
    Lump sum Property Insurance : Rs. 7,000 (is it compulsory or ….it is not applicable if we can go for liability insurance)
    as well as i want to know stap in short way i.e. where and when we have to move ahead with abvoe charges (it is in cash or through cheque)
    no one agree to clear the above fact…..

    • June 7, 2012 at 7:54 PM

      Hi Premal,
      Sorry for the late reply. As per my experience, SBI wont accept any thing in cash. All the transactions between me and SBI was either through Cheque/DD. Regarding insurance, I am not sure. I have taken it anyways.

  6. sk
    May 26, 2012 at 8:49 PM

    there is some more to add.. Under the recent RBI guidelines, banks should not finance for registration and stamp duty. In this regard..

    My property is a approved by SBI. Developer has referred me to an agent who is a retired SBI office.
    *He asked 1500+1500 for legal and technical valuation apart from processing charges.
    * He claims that Registration and stamp duty will be funded by SBI.
    * After adding the interiors cost, if the loan amount crosses 30L the slab will be 10.75.

    Now, according Spl HF Branch
    * No need of paying Rs. 3000/- as this is an approved project
    * Registration and stamp duty can not be funded
    *After interiors cost is added, if the loan amount beccomes >30 where as the original loan is <30, the slab is still going to be the slab of <30. — (This i neede confirm once again)

    I'm not sure how come SBI general banking branches are funding for registration and ST where as the RBI guidelines and the Spl HF branch are saying NO.

    • June 7, 2012 at 7:51 PM

      Hi Sk,
      Sorry for the late reply. I think Spl home loan branch must have revised it policies. At least when I got the loan, SBI only paid for the registration and stamp duty.

      • Raju Sahu
        June 16, 2012 at 7:19 PM

        Hi Joseph,

        I am planning to take a joint home loan. My wife have only 1 year Form 16 as she has completed 1 and half year service only. Will the SBI home loan authority will accept this. As per rule it should be last 2 years form 16 to be submitted. Please guide if you have any knowledge on this.


      • June 17, 2012 at 2:59 PM

        Hi Raju,
        I think that wont be an issue as my wife also had only 1 year Form16 when I applied the homeloan and SBI was ok with that.

    • praba
      November 16, 2012 at 4:18 PM

      Please let me know do we need to pay if the project is unapproved.If its unapproved then how SBI will be releasing the fund.
      Please clarify.

  7. Raju Sahu
    June 18, 2012 at 2:45 PM

    Hi Joseph,

    Thanks for your quick and postive response.

    I have one more query regarding recent change of job. Because of higher CTC changed the company 2 months back. Will it cause any problem for home loan.Is there any rule to have atleast 1-2 years of job in same company before applying for loan.


    • June 18, 2012 at 2:57 PM

      Hi Raju,
      I am not sure on that. Please check with the manager.

      • praba
        November 16, 2012 at 10:14 PM

        Please let me know do we need to pay if the project is unapproved.If its unapproved then how SBI will be releasing the fund.
        Please clarify.

    • praba
      November 16, 2012 at 4:21 PM

      Hi Raju,
      did you get answer for your questions.Can you please share with me.


      • Raju Sahu
        November 16, 2012 at 6:26 PM

        Hi Praba,

        Yes I got the answer. Recent Job change is not an issue. You need to have at least one month Full month Pay slip from your new employer and the Offer letter.


    • praba
      November 16, 2012 at 10:19 PM

      Hi All,
      I have one more query.
      1)I have applied for home loan through SBI,but i am not 100% sure that the project is approved by SBI.(Because the builder says the project has been approved by SBI,but when i cross checked,it seems like the property has not yet been approved by SBI.)Since I am processing throgh the SBI person shown by the builder,i am not able to check with anyone else.My questions is “Will SBI disburse the loan only after the project has been approved by SBI””.Am I correct?? Or do they apparoval on any other instances.

      Please clarify

      • Manoj
        December 12, 2013 at 1:04 AM

        Hi Praba,

        even i am facing the same issue. Did u check with the bank.


  8. July 16, 2012 at 3:40 PM

    Share good Blog again Thanks for this post. It Very nice Blog. It was a very good Blog. I like it. Thanks for sharing knowledge. Ask you to.

    • Mach
      February 11, 2013 at 10:21 AM

      Hi jeri
      What are the documentation required to get loan from sbi jayanagar branch.
      Are they diffrent from documents I submitted for legal and valuation report.


  9. Piyush
    March 18, 2014 at 12:40 PM

    Duly completed Application Form.
    3 passport size photographs.
    Employee ID Card.
    PAN Card
    Proof of Residence – Letter from Employer – HR
    Appointment Order / Service record for 5 years (Offer letter / reliving letter)
    Latest 3 months Salary Certificate signed by Employer – HR
    Statement of Account for the last 6 months where salary is credited
    Form 16 for 2 years along with IT Return duly acknowledged by IT Dept.
    If you have any other loans, sanction letter with full statement of account till date and property papers xerox
    Marriage Certificate (for joint account)
    Company Profile
    Asset proof (Property papers, LIC last premium paid, Fixed Deposit, Mutual Fund, etc.

    Additional Documents for TAKE OVER LOANS (Processing fee Rs. 1000 + ST up to 31/3/2014)
    Pre Closure Offer Letter from other Bank with HL o/s
    Home Loan sanction letter.
    Statement of HL account from beginning
    Letter stating list of original documents with the existing bank and to confirm that property is mortgaged only to Home Loan and not to any other liability.
    Certified copy of Sale Deed, Approved Floor Plan Copy.
    A Katha, Upto date EC, Tax Paid Receipt, Mother deed copies.

  10. Piyush
    March 18, 2014 at 12:42 PM

    Anybody has any idea of having other special branch for home loan(same as jaya nagar branch) in bangalore (whitefield , indra nagar, marathahalli etc)

  11. October 31, 2014 at 1:22 PM

    I have a basic question regarding SBI housing loan, as I am taking it for the first time.
    It is said that when you take loan from SBI then property will be registered on both You and SBI’s name. Why is that so? Is it same to do so?
    Where as other banks like HDFC/AXIS are not doing so.

    Another point is, when you re-pay complete loan, you’ll need to re-register property back to your name, which will attract considerable amount of fees. How much that amount will be?

    Thanks in advance

    • October 31, 2014 at 2:00 PM

      Yes you are correct. Thats called Mortgage deed and once thats registered, then the flat will eb in the name of both owner as well as the finance(in this case SBI). Not sure why other pvt banks are not asking for this. From banks point of view,I think its a safe option for them as in case the borrower is not able to pay back the loan, then in that case they can take the flat and get the amount from that.
      Regarding the re-pay part,
      yes once you have paid the complete loan amount, you have to register it back to your name and I dont think it costs a lot of money. My cobrother recently did the same and for him it didnt took more than 3000 rupees.

  12. Harsh Maheshwari
    December 5, 2014 at 2:20 PM

    How long did it take in your case ?

  13. June 10, 2015 at 2:56 AM

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  14. amit kumar
    June 15, 2015 at 9:11 PM

    I want to know something for sbi home loan for house of construction
    Hmare area me construction ke leye doubara map approve nahe hote hae kyuke hamara area nigam ke under atta hae.
    You kya hamar loan pass nahe how salts kya?

  15. December 22, 2017 at 6:22 PM

    Mortgage Loan Software is very important when you are working in a mortgage industry. All the loan officers, mortgage brokers and loan processors need a way to organize and keep track of all their loans in their pipelines.

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