SBI Mortgage Loan in Pune

Pune, one of the most important cities of Maharashtra, is one of the loved destinations for people in India. One of the important cities of India, Pune is also a home of several people who with their own home; quite effectively search for a lender to finance them for several other works by keeping home as a collateral. Many people having their own home may need additional finance for several urgent needs, which can be complemented by the well known lenders. When it comes to Mortgage loans, the State Bank of India is most preferred choice of the country.

Eligibility for SBI mortgage loan in Pune

For the people residing in Pune, the State Bank of India has put forward some eligibility criteria, which in fact are quite similar to the eligibility criteria of the other cities. The reason is quite obvious; State Bank of India is bank having its full operations in the entire country and thus follows the same guidelines and rules. The eligibility for the SBI Mortgage Loan in Pune can be described as follows :

A person needs to be at least 18 years of age, with the upper age limit fixed at around 60 years
A person can be self employed or may be employed, both
Should be earning more than the specified minimum Income in case of Salaried which is around 25k Monthly for salaried and 3 lacs annually for self employed
Many other factors depending upon various issues like how to respond in the application form while applying for a Mortgage Loan
40% of the market value of the property is the margin

The decision on if a person is eligible to avail Mortgage loan is decided by the factors mentioned above, along with many other replies, which a person responds to.  For the Eligibility for SBI Mortgage loan in Pune, some documentation is needed. Documentation in the form of ID and proof of residence, processing fee cheque, last 6 months bank statement, and signed application with photo attached to it. In case of salaried people, last 3 months salary slip and Income Tax Return or form 16 are required. For self employed people, educational qualification certificate and proof of residence along with the last 3 years of income tax returns based on Income computation and audited balance sheet and profit/loss account.

Interest Rate for Mortgage loan in Pune

The interest rate for a Mortgage loan in Pune as updated to the nearest date is around 12.25%. The processing fee for the loan sanction is 1.01% which is in fact an amount at maximum Rs. 50933. The Maximum Loan Tenure is 10 years and pre-closure charge is zero.

Always remember that the requirements and conditions for the people of a particular city will almost be same and thus, details of any city can be taken as the reference point in case, you are residing in any other city. Enjoy Mortgage Loans with State Bank of India, the most convenient way of Mortgage loans in the country!

Mortgage, SBI Mortgage Loan August 21st, 2015

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