Using SBI Home Loan, you can buy your own dream house after fulfilling SBI Home Loan Eligibility. You can go for SBI Home Loan Eligibility check using SBI Home Loan Eligibility Calculator. You need to input some details in the SBI Home Loan Eligibility Calculator to check your eligibility. SBI Home Loan Eligibility criteria that you need to fulfill include stable income source, good credit score, decent repayment history, etc. Also, you must meet the minimum criteria under SBI Home Loan Eligibility based on salary requirement.
SBI Home Loan Eligibility Criteria
SBI Home Loan Eligibility is very simple and easy to fulfill. So, before applying for the home loan, you can go for SBI Home Loan Eligibility check. With the help of SBI Home Loan Eligibility calculator, you get to know whether you are eligible to avail the loan or not. Your chances of application rejection get reduced if you check SBI Home Loan Eligibility based on salary, credit score, repayment capacity, etc.
Following are the SBI Home Loan Eligibility criteria that you need to fulfill-
| Age | 18 to 70 years |
| Minimum Income | Rs. 25,000 and more |
| Employment Type | Salaried or Self-Employed |
| Work Experience | For Salaried- 2 years For Self-Employed- 5 years |
| Interest Rate | 8.35%* onwards |
| Loan Tenure | 30 years |
| Processing Fees | 0.35% of the loan amount |
| Loan Amount | Max Rs. 3 crores (might vary) |
*interest rate might vary from time to time
What factors affect SBI Home Loan Eligibility Criteria?
- Age- The age of applying for SBI home loan is an important factor that affects the eligibility criteria for SBI Home Loan. Your minimum and maximum age limit must be 18 to 70 years respectively. It is advisable to apply at an early age as you will have a high repaying capacity.
- Credit History– One of the important factor that affects SBI Home Loan Eligibility is your credit history. You must repay your previous debts properly and must practice a regular repayment habit. A good credit history helps you to avail a high loan amount.
- Income- Your net monthly income is a crucial factor that affects SBI Home Loan Eligibility. The minimum limit of SBI Home Loan Eligibility based on salary requirement is Rs. 25,000. If you do not earn more than this level, then you might not fulfill the home loan eligibility of SBI .
- Property Documents- One of the crucial factor that affects SBI Home Loan Eligibility is the property documents. At the time of SBI home loan apply, you need to submit the legal property documents. In case there is some discrepancy regarding property documents, your home loan application might get rejected.
