Hassle-free centralized processing with minimum turnaround time.

No administrative fees.

Complete transparency with no hidden costs.

Attractive takeover options.

Provision to reduce EMI, when interest rates get reduced by 1%

Eligibility for higher loans, by clubbing spouse's income.

No prepayment penalty if loan is closed after half the original tenor.

Unique opportunity to avail mortgage loans, student loans with minimum formalities on maintaining a good repayment record.

Concessions on charges for personal remittances and outstation cheques.

Provision to add expected rent accruals, if the applicant proposes to let out house / flat.

Free personal accident insurance coverage.

Optional life cover from SBI Life with concessions on premium.

Complimentary International ATM cum Debit Card, International Credit Card (with waiver of joining and first year's fees).

Complimentary E-Banking facility.

Dedicated network of NRI Branches, Personal Banking Branches, Special Housing Finance Branches, Intensive Housing Finance Branches, and Home Loan Outbound Sales Force catering exclusively to Home Loans.

SBI-Maxgain

Park your surplus funds and withdraw the same whenever required.

Earn optimal yield on your savings, at no extra cost.

Get a Home Loan as an overdraft on your account.

Minimize interest on the home loan.

Maximize income in the wake of low yields from other deposits and investments.

Enjoy flexibility to operate your Home Loan account like a Savings or Current account.

SBI-Realty

Get a Home Loan to purchase a plot of land.

Enjoy low margin, high loan eligibility with a maximum of Rs.20 lacs*

Avail easy repayment period of up to 15 years.

Avail another Home Loan to construct a home on the plot.

Enjoy the benefit of running both the loans concurrently.

Ensure that you construct the house within 2 years from the date of availing the Home Loan.

(*Relaxation considered on case-to-case basis)
(Other terms and conditions as applicable to regular Home Loans)

Eligibility:
Personal Criteria

Minimum age 18 years.

Valid Indian Passport (for NRIs) / valid foreign passport (for People of Indian Origin - PIOs).

Steady source of income.

Employed abroad for at least 2 years.

Valid job contract or work permit.

Minimum Net Monthly Income (NMI) of US$ 500 or minimum Net Annual Income (NAI) of US$ 6000/- (or its equivalent in any other foreign currency).

Property Types
Non Resident Indians (NRI) and Persons of Indian Origin (PIO) can avail SBI Home Loans for the following:

New home

Home improvement or extension

Land purchase

Home furnishings and consumer durables

Loan Amount
Minimum Loan Amount: Rs. 3 lakhs 

Maximum Loan Amount: 


For Purchase of Home
Maximum permissible loan amount would be determined by EMI/NMI ratio criteria as applicable to regular Home Loans scheme for Resident Indian customers, which is:

Net Annual Income (NAI)	Maximum permissible loan amount
Upto Rs. 2 Lacs	40%
Above Rs. 2 Lacs & upto Rs. 5 Lacs	50%
Above Rs. 5 Lacs	55%

Clubbing of income will be permitted as per the norms specified for Home Loan scheme for residents.

For Other Property Types

Repair and renovation: Rs.10 lacs.

Purchase of plot: Rs.20 lacs.

Home furnishings and Consumer Durables: 10% of the project cost, subject to a maximum of Rs.3 lacs.

Additional Clause

Aggregate repayment obligations should not exceed 50% of NMI / NAI Margin: 15%

Documents:
List of Documents

Completed Home Loan Application Form.

2 passport size photographs.

Proof of Identity - Copy of first four pages of passport and page with visa stamp, or IC / PIO card.

Valid work permit.

Copy of the employment contract. An English translation of the contract duly attested by employer / consulate / SBIs foreign branches / offices, or Embassy in case the contract is available in any other language.

Last salary certificate / slip in original.

Copy of salary certificate duly attested by Indian Embassy / Consulate / SBI Branch / Exchange Companies abroad recognized by SBI.

Copy of identity card issued by the current employer / proof of income in case of self employed professionals / businessmen.

Brief profile of applicant and work establishment.

Details of previous employment.

Bank account statement / passbook for the last six months.

Account statement / passbook of overseas bank showing salary and savings.

Proof of residence (driving license / utility bills).

Copy of Continuous Discharge Certificate (CDC) - for applicants employed in the merchant navy.

Sale Deed / Agreement for Sale.

Copy of approved building plans / approvals in respect of proposed construction/purchase/extension.

Original NOC under the Provisions of ULC Act.

For Purchase / construction of house-Original title deed, non-encumbrance certificate on the property for 13 years, possession certificate and land tax receipt.

For purchase of flat- construction agreement, allotment letter, copy of approved plan, estimates-payment schedule, undertaking from the builder in Form B format as specified by the bank.

Copy of the Order permitting Land Conversion in case of conversion of agricultural land.

Copy of the land tax receipt / building tax receipt.

Copy of the Allotment letter of Housing Board / Builder / Co-op. Society.

Detailed Cost Estimate / Valuation Report from approved valuer in case of outright purchase of an existing house / flat.

Undertaking from the builder in Form B, which is the specified format for the bank.

Notarized Power of Attorney, if applicant proposes to authorize a third party to execute the documents / complete the mortgage formalities / avail the loan installments.

Any other documents as required by the Bank.

Processing Fee
Revised processing fee structure w.e.f 1st May, 2011 is as under:

Loan Amount	Processing Fee
Upto Rs. 25 Lacs	0.25% of loan amount
Above Rs.25 Lacs & upto Rs. 75 Lacs	Rs. 10,000/-
Above Rs. 75 Lacs	Rs. 20,000/-

Note:

Processing fee has to be paid by the customer only if the loan is sanctioned and availed.

Actual charges for the following will be payable by the customer in addition to the processing fee:

Pre-sanction
i. Advocate's fee for property search and the title investigation report.
ii. Valuer's fee for valuation report.

Post-sanction
i. Stamp duty payable for Loan agreement & mortgage.
ii. Property insurance premium.

Repayment:
Mode of Repayment

Repayment in EMIs (Equated Monthly Installments).

Remittances from abroad through normal banking channels.

Funds transfer from NRE / FCNR / NRO accounts.

Remittance from local funds by close relatives.

Repayment Period

Applicants below 45 years: 20 years

Applicant s above 45 years: 15 years

Note: Subject to liquidation of loan by the age of 60 years or the age of retirement whichever is earlier.


Moratorium

New house / flat: 24 months from the date of first disbursement or 2 months after completion, whichever is earlier.

Other cases: 2 months after last disbursement.

Provision to reschedule repayment obligations if you return to India.

Interest

Interest is applied on the basis of daily diminishing balance.

Interest rates are same as applicable for resident Indian borrowers for various tenures, available on fixed / floating / combination of fixed and floating rates (under SBI-Flexi Home Loans).

Click here to view interest rates


Security

Equitable mortgage by deposit of title deeds.

Registered mortgage when considered necessary.

Additional security by way of lien over credit balances in deposit accounts, NSCs, life insurance policies, third party guarantees, if security is either inadequate or not free from encumbrances.

To qualify for a HSBC Home Loan, the following criteria apply

a.	Net Income (Rs.)	5, 00,000 p.a (salaried) 7, 50,000 p.a (self-employed)
b.	Minimum Age (in years)	21
c.	Maximum Age (in years)	58 (salaried) 60 (Public limited/Government Employees) 65 (self employed)
d.	Minimum Loan Amount (Rs.)	500,000
e.	Maximum Loan Amount (Rs.)	5,00,00,000*
f.	Maximum Tenor (in years)	25**

Note:
Available to both Residents as well as NRIs. NRI Applicants must have a local co-applicant or a local contact person. All joint owners of the property would necessarily have to be co-applicants and would need to sign all loan documents.

The interest rate on your floating rate loan, if disbursed on / after July 01, 2010 is linked to HSBC's Base Rate. Any revision in the Base Rate would impact your interest rate. The Base Rate is 8.50% effective from March 09, 2011.

The interest rate on your floating rate loan if disbursed prior to July 01, 2010 is linked to HSBC's Retail Lending Rate (RLR) and any revision in the RLR would impact your interest rate. The RLR is 15.75% effective from February 2, 2011.

For further details on the Base Rate and it's impact on your floating rate loan, please refer to the FAQs.

*Rs. 5,00,00,000 for applicants in Mumbai, New Delhi (NCR) and HSBC Premier customers. Rs. 3,00,00,000 for applicants of Bengaluru, Chennai and Pune.

**For Resident Indian/NRI professionals and self employed applicants, the maximum tenor is 20 years.

Terms and conditions apply. All loans at the sole discretion of The Hongkong and Shanghai Banking Corporation Limited, India. Loans available for applicants and properties in and around the city limits of Mumbai, Pune, New Delhi (NCR), Bengaluru and Chennai and are subject to change from time to time.
Resident Indians - You will be required to present the following documents:
Completed loan application form with one passport size photograph
Proof of individual’s identity (any one of the following)

Passport

Photo PAN card

Defence identity card

Voter's identity card

Driving licence

Photo ration card

Government identity card

Proof of residence (any one of the following)

Passport

Ration card

Telephone (land/mobile) bill

Electricity bill

Driving licence

Society outgoing bill

Voter's identity card

Life Insurance Policy
Only Passport can be used as both Proof of individual's identity and Proof of residence.

Proof of age (any one of the following)

Passport

Valid driving licence

Voter's identity card

Birth certificate

School leaving certificate

LIC Policy or Premium receipt clearly indicating the applicant's age

Letter from the employer stating the age of the employee #

# Applicable only for employees of select Public Limited Companies. Conditions apply.

Financial documents

Salaried individuals

Latest salary slip showing statutory deductions AND

Form 16 (Declaration from the employer giving the details of income and deductions, duly signed by an authorised signatory of the Company) OR Latest acknowledged IT returns AND

Bank statements for the last 3 months

Self-employed individuals / Proprietor

Computation of income + P&L for the last 2 years certified by a C.A. OR P&L and Balance sheet for the last 2 years certified by a C.A. AND

Copies of acknowledged IT returns for the last 2 years AND

Bank statements for the last 6 months

Partnerships (Loans will be extended in favor of partners)

Computation of income + P&L for the last 2 years certified by a C.A. OR P&L and balance sheet for the last 2 years certified by a C.A. AND

Copies of acknowledged IT returns for the last 2 years AND

Bank statements for the last 6 months AND

Partnership deed, letter of authority, Proof of office 

Private Limited Companies (Loans will be extended in favor of Directors)

Computation of income + P&L for the last 2 years certified by a C.A. OR P&L and Balance sheet for the last 2 years certified by a C.A. AND

Copies of acknowledged IT returns for the last 2 years

Bank statements for the last 6 months

Memorandum and Articles of Association

Board resolution

Authority letter from all directors to accompany the application form with photographs of authorized signatories if not specified in the board resolution

Proof of office

NRIs - You will be required to present the following documents:
Salaried NRI Applicants

Copy of valid passport showing VISA stamps

Copy of valid visa / work permit / equivalent document supporting the NRI status of the proposed account holder

Latest contract copy evidencing Salary / Salary Certificate / Wage Slips

Overseas Bank A/C for the last 3 months showing salary credits

Self Employed NRI Applicants

Trade license or equivalent document

6 months overseas bank account statement and NRE/ NRO account

Computation of income, P&L account and Balance Sheet for last 3 years certified by the C.A. / CPA or any other relevant authority as the case may be (or equivalent company accounts)

Passport copy with valid visa stamp

Brief profile of the applicant and business

What is the eligibility criteria to get a Loan Against Property?
You are eligible for a Loan Against Property, if you are
• A minimum age of 25 years
• Employed or self-employed with a regular income
• Owner of a self-occupied property

How much loan can I get?
• You can get a loan of upto Rs 3 Crores
• You can get upto 70% of the value of the property, subject to a minimum valuation criteria. The amount varies depending on the nature of the property and term of the loan that you need
• Your repayment capacity as determined by ICICI Bank, taking into account your age, income, qualification, number of dependents, assets, liabilities, stability/ continuity of your employment/ business and the co-applicant's income.

Can I take a loan against another property if I have a home loan with ICICI Bank?
Yes, you can take a loan against any other property. To know more about loans against property, please contact an ICICI Bank Counselor.

How do I approach ICICI Bank for a Loan Against property?
Fill in the form given alongside and we will get in touch with you shortly or You can just walk into any of our branches.

Can I avail of fixed or floating rate loan?
You can opt for either the fixed or floating rate loan. In the fixed rate loan, the interest rate is constant throughout the tenure of the loan.
In case of floating rate loan, the interest rate is adjusted with changes in the ICICI Bank Floating Reference Rate (FRR).

Over how many years can I repay the loan?
You have the option of selecting a term you are comfortable withdrawing
• Upto 15 years for salaried and self-employed professionals
• Upto 15 years for other self employed individuals
The term does not extend beyond your retirement age, or your reaching 65 years years whichever is earlier.

How would the value of my property be determined?
The value of your property would be determined through a valuation conducted by ICICI Bank.

Do I need to open an account with ICICI Bank for availing and/ or servicing the loan?
We will encourage you to start a banking relationship with us so that we will be able to offer host of other value added services, which are complementary to the loan, however opening an account with us is not mandatory.

What are the stages involved in taking a loan?
There are three main stages -
• Application – Whereby you submit a completely filled in application with all necessary documents.
• Sanction - Whereby you get an approval for a specific loan amount based on the value of your property and repayment capabilities.
• Disbursement – Whereby the loan amount is transferred.

 What are the various products under LAP that ICICI Bank provides?
• LAP – Residential
• LAP – Commercial
Other products offered with property collateral
• Lease Rental Discounting

What is a Monthly Reducing balance?
An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in a significant saving for the customer over the tenure of the loan.

What is an Annual Reducing balance?
An Equated Monthly Installment (EMI) has 2 components, interest and principal. When the interest is calculated on annual rests, the principal reduces only at the end of the year. Therefore, you continue to pay interest on a portion of the principal that you have already actually paid back to the lending company.

When will the loan be disbursed?
Your loan will be disbursed on:
• Submission of the completed application form with a copy of all the documents.
• Legal and technical clearance of the property
• Sanction of the loan amount
• Request for disbursal
• Collection of original property documents

What is an amortisation schedule?
An amortisation schedule is a table giving the reduction of your loan amount by monthly installments. The amortisation schedule gives the breakup of every EMI towards repayment interest and outstanding principal of your loan.

How can I foreclose the loan?
The Loan can be foreclosed by approaching our ICICI Bank Home Loans branch representative, who will give you the working of your foreclosure. Then issue a cheque favoring ICICI Bank, upon clearance of which the documents will be released for that loan.

How long will the whole process of foreclosure take? When will I get my PDCs and documents back after I foreclose the loan?
The whole process from taking the cheque to releasing the documents will take approximately 2 weeks.

What are the charges on foreclosure?
The charges will be as per the rates mentioned in your agreement.

The Product aims to cater to the needs of MSME segment and other small corporate customer by way of providing loan against their existing commercial and residential properties. The end use of the loan would be for various business related purposes or to take care of any financial requirements viz., retiring of high cost debt, balance transfer/ takeover or any other business exigencies.

Sr. No.	Field	Content
1	Eligible Segments	All proprietorship, partnership, public and private limited companies engaged in the business for the last 3 years.
2	Facility	Term Loan/ Overdraft limit to fund all kinds of business needs (excluding for speculative purposes)
3	Loan Amount	Minimum:  5 lakh   Maximum:  500 lakh
4	Tenor	Term Loan: Max 7 years OD:Max 12 months
5	Pricing	Linked to Bank Base Rate and Rating
6	Security	EMT or Registered Mortgage of Residential / Commercial property
7	Guarantee	Personal guarantee of the borrower
8	Processing Charges	As per Bank's applicable rates

 

 

 

 

 

 

 

Documentation Features:
• Legal and technical assistance
• Reassessment and adjustment of applicant's loan eligibility in case of change of income and residence status
• Special insurance cover on the home loan for a small premium.

Eligibility:
• Salaried individuals
• Self-employed professionals/businessmen
• NRI’s.

Loan Amount:
• Loan can be applied for a maximum of 90% of the property value subject to credit discretion.of a house.

Margin:
• 10-15% as down payment.

Processing Fee:
• 1 per cent of the home loan amount.

Pre-payment Fee:
• If the loan is foreclosed before 6 months, 2 per cent of the loan outstanding will be charged as penalty
• After 6 months, no pre-payment charges if prepaid from own, verifiable sources
• Prepayment fee of 2 per cent of the loan outstanding if loan is transferred to another bank/financial institution.

Repayment Period:

• Tenor of a home loan can be up to 20 years for a resident individual and 10 years for NRIs, subject to maximum age of 60 years on loan maturity date.

Term Premium (TP) of 0.50% is to be added where specifically mentioned
  NO-1 Housing Finance to Individuals including NRIs / Flexible Housing scheme / Existing Fin Basket a/c  

The aforesaid revised rates of interest under floating option will also be applicable in:

• Existing as well as new accounts in Flexi-Housing scheme (Term Loan component)
• In existing accounts in Fin Basket scheme which stands closed.
• The fixed rate of interest option of Housing Loans, disbursed on or after 01.08.2006, will be subject to reset clause of five years on all repayment tenors except tenor upto 05 year.
• Extra 0.50% rate of Interest on card rate will be charged in a/cs in respect of 3rd or subsequent house/flat.(as advised by RAMD (RBD) from time to time.)