SBI is one of the most confided-in banks for Indians. It is a public sector banking and financial services multinational from India. As far as I am aware, all of my family members have at least one account in SBI. My grandpa and father both used to work in SBI. And no doubt it is the largest commercial bank in India, which has been in business for 200 years. But even after all this, I came to know what is SBI CRE home loan very recently.
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A mortgage secured by a landlord on commercial property is known as a commercial real estate loan. Any income-generating real estate that is used for business purposes, such as offices, retail, hotels, and apartments, is referred to as CRE. Women borrowers are eligible for a discount on interest under this housing program, which is also available as an overdraft. The SBI CRE Home Loan is intended for people who are looking for a third home but already own at least two. Under this plan, you can own up to three apartments, houses, or residential plots.
Benefits of CRE home loan SBI
There is an interest allowance for all of the women borrowers
There are no hidden charges in SBI CRE home loans
The interest rates for these loans start from as low as 7.45%
They also provide the facility for overdraft
Under the SBI CRE scheme, you can own up to 3 properties
There is no penalty for prepayment of this loan
The repayment tenure of this loan is as long as 30 years.
Fee and Charges of CRE home loan SBI
To apply for a home credit you need to pay expenses and charges applied by the SBI CRE. It covers all fees and charges a bank charges its customers. The processing fee, prepayment fees, and CERSAI registration fees, among others, are taken from the SBI CRE Home Loan.
| TYPE | CHARGES |
Processing fee |
0.35% of the loan amount applicable service tax, minimum Rs.5000 |
Prepayment charges |
NIL |
CERSAI Registration charges |
Rs.50 plus GST for loans upto Rs.5 lakh Rs.100 plus GST for loans above Rs.5 lakh |
Eligibility Criteria for CRE home loan SBI
AGE |
18 years to 70 years |
NATIONALITY |
Indian Resident |
I hope this helps you understand what is SBI CRE home loan.
Read More: How to Close SBI Home Loan Online? What are the SBI Home Loan Prepayment Rules? How to avoid part period interest in SBI Home loan?Your Feedback Matters! How was this Answer?
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What is SBI CRE Home Loan?
Deepali
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2023-04-17T10:54:51+00:00 2023-04-17T11:26:32+00:00Comment
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