Sbi home equity loan application form pdf download

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SBI Reverse Mortgage Loan- Personal Loan of Senior Citizens

After a lifetime of working and raising families, you deserve a good retirement period

SBI Reverse Mortgage Loan provides an additional source of income for senior citizens of India, who have a self-acquired or self-occupied home in India. This product is beneficial for senior citizens who do not have adequate income to support themselves. The Bank makes payments to the borrower /borrowers (in case of living spouse), against mortgage of his / their residential house property. The borrower is not expected to service the loan during his lifetime.

• Features
• Eligibility
• Interest Rates & Fees
• Documents Required

• Low Interest Rates
• Low Processing Fees
• No Hidden Charges
• No Pre Payment Penalty

• Resident Type: Resident Indian
• Minimum Age: 60 years when single borrower. In case of joint borrowers, spouse’s age should be more than 58 years.
• Loan Tenure : 10-15 years, depends on age of borrowers
• Maximum Loan Limit:
  Rs. 2.00 crore – Property located within Municipal Corporation Areas of NCR, Mumbai, Pune, Chennai, Ahmedabad, Bengaluru and Hyderabad Centre
  Rs. 1.50 crores – At all Other Centres (except above Centres)

Click here for old Card Rates

• Processing Fee*
  1. 0.50% of the loan amount.
  2. Minimum: Rs. 2000/-
  3. Maximum: Rs. 20,000/-

*Plus applicable taxes

• Post-sanction**
  1. Stamp duty payable for Loan agreement
  2. Property insurance premium.
  3. CERSAI Registration Fee of Rs 50 + GST up to Rs 5 Lakh limit and Rs 100 + GST for limits above Rs 5 Lakh.

** To be paid at actuals.

List of papers/ documents applicable to all applicants:

• Loan Application: Completed loan application form duly filled in 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

Property Papers:

• Registered Sale deed and link documents for tracing of title
• Occupancy Certificate (optional)
• 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