SBI Home Loans is the largest Mortgage Provider in the country. It has successfully helped over 30 Lakh families achieve their dream of owning a home. 1 in every 3 Home Buyers in the country today avail Home Loan from SBI. More than 40 lakh families have chosen SBI as the preferred Banker for their home loan.Â
The following are some of the reasons why SBI Home Loans are so popular :
- Complete TransparencyÂ
The State Bank of India is the country’s largest public sector bank, or “govt bank,” as it is also known. With SBI, you can expect complete transparency during the loan procedure and afterward. This includes eligible loan amount, documentation, and more importantly, all the fees and charges. You can be sure and assured that everything will be communicated in a simple and precise manner to you.
- Lowest Interest Rate
Interest rates for SBI Home Loans are known to be the most attractive in the market today. SBI offers interest rate starting at just 6.70% p.a. for women borrowers, celebrating the importance of a woman in the Indian Household milieu. In fact, SBI is the market leader in defining the direction of the Mortgage industry.
- Dedicated Relationship Managers at Various Locations
At various locations, SBI employs dedicated Relationship Managers for home loan applicants. These relationship managers assist home purchasers from the beginning of the application process to the conclusion. This guarantees that the customer receives door-to-door service and that the entire process runs smoothly. SBI has 8500+ feet on the street, delivering door-to-door services for house loan aspirants, in addition to specialised relationship managers.
- More than 1000 SBI Home Loan Processing Centres
SBI has more than 1000 home loan processing centres located throughout the country. These specialised centres are well-known for ensuring that all home loan applications are processed within the stipulated time frame of less than two weeks.
- Pre-Approved Home LoansÂ
If you haven’t decided on a home yet, you can apply for an SBI Pre-Approved Home Loan. This provides you an idea of how much money you have to work with when looking for a home.
- Instant Top-Up Loans for existing Home Loan borrowers
Existing customers who are eligible can get a Top-Up instantaneously through the SBI YONO app, which can be used for a variety of things like weddings, vacation, and so on. In as little as 5 minutes, the Top-Up amount will be credited immediately to their savings account.
- Swift Processing of PMAY subsidy
For Pradhan Mantri Awas Yojana subsidy claims for Home Loans, SBI has been designated as a Central Nodal Agency (CNA). As a result, the subsidy is expected to be distributed as soon as practicable.
Many people today want to own their ideal homes in their preferred cities. However, rising real-estate costs frequently make this ideal a pipe dream. However, with the availability of reasonable home loan interest rates and flexible EMI alternatives, the situation has altered. While there are other banks and Housing Finance Companies (HFCs) in the country that provide house loans, SBI Home Loans stands out as the clear winner due to the trust aspect.