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Most of the people in India interested to buy land in their chosen cities. After purchasing land they want to build their own house. It is the biggest dream of every person. Due to the increase in the land price they do not afford it. So they need a Loan to purchase this land. Nowadays it’s very difficult to avail of a loan for land purchase. As per the 2021 case study, few Banks are providing land loans to their customer. SBI Realty is one of them.      

     

About SBI Realty : 

Under this scheme, a person can apply for a loan to purchase land. India’s largest lender is providing this loan at the lowest interest price. Depending upon eligibility the loan amount will be sanctioned by the Bank. 

Interest and other charges:

Under this SBI Realty Land Loan, the interest rate will have an Interest of 7.5 to 9.5 percent per annum. Sometimes Bank Provides an offer as a waived-off processing fee or no foreclosure charges and pre-payment penalty for customers.

Tenure and Loan Moratorium : 

Apart from the lowest interest rates, SBI Realty Loan provides a flexible tenure of 10 years. The borrower will have 18 months of loan moratorium. Bank offers a time frame to the borrower to start construction work in that particular plot. Depending upon eligibility Bank provides another loan for construction work and the previous loan converted to a Home Loan with the very lowest interest rate. This is a unique product. 

Who can apply? 

This scheme is for salaried as well as business profiles along with pensioners. Everyone can apply depending upon the income source bank to fix the loan amount. 

Documents required for availing loan :

As per the Bank following documents required for availing of this loan.

 For Salaried Person;

1. Three months up to date salary slip.

2. Six months up to date bank statement ( salary credited account )

3. Adhar Card.

4. PAN Card 

5. Passport size photo. 

6. Residence proof.

7. Form 16 two years

For Business Person;

1. Three years IT Returns

2. Form 26 As 

3. Six Months Up Date Bank Statement.

4. Adhar Card

5. PAN Card

6. Passport size Photo

For Pensioner :

1. Three months up to date Pension Book

2. Six Months Up to date Statement

3. Adhar Card

4. PAN Card

5. Passport size  Photo

6. Residence Proof 

Where to apply for this loan:

Customers can visit the nearest SBI Branch to check the eligibility and loan amount. SBI users can also book it through YONO mobile banking application. The loan will be credited to the salary or Pension or SB account of the customer.

Contact us for your Loan : 7008385943 ( Bhubaneswar )