With SBI’s Regular Home Loan product you are eligible to borrow up to a percentage of the property value (the Loan to Value or LTV ratio) and subject to your income, age, existing obligations and the property’s eligibility. So, how much loan can I get from SBI? According to SBI’s General Home Loans, the LTV ratio is up to 90% for loan amounts up to Rs. 30 lakh, 80% for loans above Rs. 30 lakh up to Rs. 75 lakh and 75% for loans above Rs. 75 lakh.
How Much Home Loan Can I Get in SBI?
That means, for example, if you are purchasing a property assessed at say Rs. 40 lakh, SBI might lend you about 80% of that i.e. around Rs. 32 lakh (subject to your other eligibility).
Of course, the actual maximum you can borrow will also depend on your monthly income, other EMIs, age (the loan tenure must end by the age limit; SBI uses maximum 30 years or up to the age of 70 years whichever is earlier) and existing liabilities.
In addition, SBI’s collateral and documentation requirements, as well as property title and location, will influence how much ultimately can be approved.
It’s advisable to use SBI’s online calculator and speak to a branch so you can estimate a more specific borrowing amount based on your salary, age and the property you are targeting.
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I have recently availed of the SBI realty home loan. SBI realty home loan has provided me with an opportunity to buy a plot of land to build a residence on it. So, I can share the maximum home loan amount SBI. The main condition is that within three years of the loan's approval and disbursement, the house's construction should be finished.
How Much Home Loan Can I Get SBI?
There are several SBI home loan products. So the SBI housing loan maximum limit for each home loan differs. However, as I said I availed of the SBI realty home loan, I will let you know that an SBI realty home loan applicant may receive a maximum loan amount of Rs. 15 crores with a manageable 10-year repayment period.
Factors affecting SBI Home Loan Maximum Limit:Income
Age
Employment type
Credit score
Property value
To get an accurate estimate, it’s best to visit the SBI branch or their website to check the maximum limit that you are eligible for.
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| Eligibility Criteria | Self-Employed and Salaried |
| Income Criteria | Minimum salary for SBI Home Loan Rs. 25,000 |
| Age Criteria | Minimum: 18 years Maximum: 70 years |
| Loan Tenure | Up to 30 years |
| Prepayment Charges | Nil |
| Nationality | Indian |
| Monthly Income | Loan Amount |
| Rs. 25,000 | Rs. 15,10,693 |
| Rs. 30,000 | Rs. 20,39,435 |
| Rs. 35,000 | Rs. 23,79,341 |
| Rs. 45,000 | Rs. 30,59,153 |
| Rs. 50,000 | Rs. 33,99,059 |
| Rs. 55,000 | Rs. 41,54,405 |
| Rs. 60,000 | Rs. 45,32,079 |
| Rs. 65,000 | Rs. 49,09,752 |
| Rs. 70,000 | Rs. 52,87,425 |
| Rs. 75,000 | Rs. 56,65,098 |
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Read more: What is the home loan interest rate in SBI? How to transfer home loan to SBI? How to reduce home loan interest rate in SBI? How to check SBI home loan status? I hope I cleared all your doubts on how much home loan can I get from SBI.
How much Home Loan can I Get from SBI?
Mannu
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2021-10-27T14:37:41+00:00 2024-01-23T20:10:07+00:00Comment
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