What are the eligibility criteria for SBI home loan?

Q: I am looking to apply for State Bank of India home loan. I want to know about the eligibility criteria required for the loan.

mhsh250,

22nd September 2011

Home Loan in Allahabad

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Allahabad Home Loan Home Loan in Allahabad

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To apply for SBI home loan, the applicant should be a self employed or salaried. The salaried applicant must be having at least 2 years of work experience, whereas the self employed should have 3 years of experience.

Suresh Khanna, Mumbai

22nd September 2011

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Any one residing in India and aged between 18 to 70 and having sufficient, regular and continuous source of income for servicing the loan repayment is eligible for SBI home loan. If you have a bad or poor credit history, your eligibility can be increased if collaterals are provided in the form of life insurance policies, national saving certificates (NSC) and other Long-term investment investments. If you have more than one property, it can also be used as collateral but Provident fund (PF) is not accepted anymore as no authority is allowed to freeze your PPF account.

Kamal Shekhawat, Ahmedabad

22nd September 2011

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