SBI Mortgage Loan in Bangalore
Bangalore, the IT City of India, is the home to the many people preferring IT Field. With the people prefer to stay at the home of their own, Mortgage loans are one of the most availed loans in the city of Bangalore. SBI Mortgage Loan in Bangalore is available at the lowest rate of Interest for the people of Bangalore. Based on the study, it is widely judged that the State Bank of India is the most preferred bank for Mortgage Loans in the Silicon city of India.
Based on the Survey, the State Bank of India is the preference of around half of the people residing in the IT City. State Bank of India is the best bank for Mortgage Loans in the city of Bangalore.
Eligibility for SBI mortgage loan in Bangalore
Being a Government Bank, The State Bank of India follows some specific set of rules and regulations for the proper sanctioning of Mortgage Loans for people in Bangalore and other cities. There are several important criteria, which ought to be followed by the people seeking Mortgage Loans. The eligibility criteria for the people seeking Mortgage Home Loans in Bangalore can be summed in the following way :
• Applicants should be from the minimum of 18 years of age and at maximum 60 years
• The applicant cannot be a retired person for Mortgage Loan, thus a person who will be retiring in a matter of few time, should follow check off method.
• The applicant can be a salaried person or self employed person
• The applicant belonging to agricultural or allied activities is also eligible for Mortgage loans through State Bank of India
• The monthly income of a salaried person should be more than Rs. 25k on a monthly basis, while the annual income of self employed should exceed Rs. 300000
• In the eligibility criteria, the person can also add a spouse as a guarantor or co-borrower and the salary of spouse can be added for the same purpose
Based on the survey, considering several factors like rate of Interest, the difficulty and ease of sanctioning of mortgage Loans, tenure of loans, and many other factors; the State Bank of India is the top choice of the people residing in Bangalore. Considering the strict rules and regulations of the bank in allotting the Mortgage Loans to the people, and the features and benefits of the Mortgage loans, the deals seem to be the finest one for any person living in Bangalore.
With the lowest rate of Interest of around 12.5%, the Mortgage Loans through State Bank of India in Bangalore is the lowest available. Even the long tenure of 10 years is just one of the salient features available with the State Bank of India only.
The transparency and the genuine process of disbursement of loans is just what makes the State Bank of India, one of the most favorite among many others available. The lowest processing fees of the bank are what motivate people towards the State Bank of India in addition to several other factors. The trust, which banks have established for such a long time, has made it the most preferred bank for Mortgage Loans in Bangalore.