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SBT Home Loan Interest Rates

SBT Home Loan Interest Rates

Last Updated : May 22, 2017, 5:57 p.m.

You may get a feel of missing something precious when your landlord asks for the rent every month. The regular payout of rent each month, coupled with the uncertainty over the sustenance of your stay in the same house add to your misery. And if you are married and have kids, then you could be in for a torrid parenthood as you have to change their schools from time to time due to the change of location. So, the solution for all these hassles is there in a self-occupied home, which you can purchase by either paying the whole price or buy it on loan. Since a home loan is a productive debt by fetching you more than you pay in EMIs over a period of time, you can opt for the same to be free from the hassles of a monthly rent.

Now when you have understood the importance of home ownership on loan, make sure you choose the right lender for years of happiness ahead. State Bank of Travancore (SBT), an associate bank of State Bank of India (SBI), operates its home loan business from over 1,100 branches across India. You can take a home loan for the following purposes-

Purchase/construction/repair or renovation of home
Purchase of plot for the construction of house

Want to catch more of the bank’s home loan offering? Check out the details below.

SBT Home Loan Interest Rate Details

Particulars Description
Interest Rate 9.20%-10.45% p.a.
Maximum Loan Amount ₹5 Crore
Tenure 30 Years
Margin NIL
Processing Fee 0.50% of the loan amount+ Service Tax
Maximum- ₹10,000
Security Property mortgage by submission of title deeds

SBT Home Loan Eligibility Calculator

Well, SBH Home loan eligibility calculator is nothing but a tool to know how much lending support you can get from the bank. The calculator performs the operation by taking into consideration your income and savings. However, before calculating the loan amount, the calculator computes per lac EMI. You can check below the calculation of per lac EMI.

Amount- ₹1,00,000
Interest Rate-9.20%-10.95% p.a.
Tenure-30 Years
Per Lac EMI-₹819-949

Now, SBT will assess your net monthly income and savings, which if assumingly are ₹60,000 and ₹30,000, respectively, to calculate the expected loan amount. Formula for loan amount is shown below.

Loan Amount Eligibility- ₹1,00,000 x savings/Per Lac EMI
– ₹1,00,000 x 30,000/819 = ₹36.63 lacs
– ₹1,00,000 x 30,000/949 = ₹31.60 lacs

Thus, you can expect to bag away a loan amount of ₹31 lakhs to ₹36 lakhs from SBT.

SBT Home Loan EMI Calculator

Being aware of the EMI amount will put you in a good stead while you start repaying the home loan. How to know the EMI amount, is the question you would ask now. The calculator will tell you the amount you need to be ready with the EMI to pay each month. The loan amount, interest rate and tenure are key variables to decide the EMI amount. Suppose you take a home loan of ₹20,00,000 for a tenure of 15 years. The EMI on the same will come out be ₹20,524 at the existing interest rate of 9.20% p.a. While interest and total outflow stand at ₹16,94,315 and ₹36,94,315, respectively. Glance below the EMI table to get a sight of the payouts in different tenures of the said loan amount.

Table Showing EMI, Interest and Total Outflow on a Loan of 20,00,000 for Different Tenures Up to 15 Years

Loan Amount (In ₹) Tenure (In Years) Interest Rate (In p.a.) EMI (In ₹) Interest (In ₹) Total Outflow (In ₹)
2000000 1 9.20% 1,75,088 1,01,062 21,01,062
2000000 2 9.20% 91,553 1,97,275 21,97,275
2000000 3 9.20% 63,786 2,96,289 22,96,289
2000000 4 9.20% 49,960 3,98,091 23,98,091
2000000 5 9.20% 41,711 5,02,667 25,02,667
2000000 6 9.20% 36,250 6,09,994 26,09,994
2000000 7 9.20% 32,382 7,20,048 27,20,048
2000000 8 9.20% 29,508 8,32,800 28,32,800
2000000 9 9.20% 27,298 9,48,215 29,48,215
2000000 10 9.20% 25,552 10,66,257 30,66,257
2000000 11 9.20% 24,143 11,86,884 31,86,884
2000000 12 9.20% 22,986 13,10,053 33,10,053
2000000 13 9.20% 22,024 14,35,715 34,35,715
2000000 14 9.20% 21,213 15,63,820 35,63,820
2000000 15 9.20% 20,524 16,94,315 36,94,315

Amortization Table

Year Principal (In ₹) Interest Outgo (In ₹) Balance (In ₹)
1 64,985 181,303 1,935,015
2 71,219 175,069 1,863,796
3 78,056 168,232 1,785,740
4 85,549 160,739 1,700,191
5 93,759 152,529 1,606,432
6 102,757 143,531 1,503,675
7 112,621 133,667 1,391,054
8 123,430 122,858 1,267,624
9 135,276 111,012 1,132,348
10 148,261 98,027 984,087
11 162,490 83,798 821,597
12 178,085 68,203 643,512
13 195,179 51,109 448,333
14 213,913 32,375 234,420
15 234,576 11,844 0

SBT Housing Loan Documents Required

Proofs Salaried Professionals Self-employed
Identity Proof Voter ID/Pan Card/Driving License/Passport Voter ID/Pan Card/Driving License/Passport
Address Proof Voter ID/Passport/Electricity Bill/Telephone, Property Tax Receipt Voter ID/Passport/Electricity Bill/Telephone, Property Tax Receipt
Business Address Proof N.A. Registration of Service Tax/VAT/Sales Tax & Electricity or Telephone Bill
Income Proof Latest Salary Slips, 6-month Bank Statement ITR, Profit & Loss Account and Balance Sheet for Last 2-3 Years, 6-month Bank Statement
Assets & Liabilities Statement Applicable Applicable
Duly Signed Loan Application Form Applicable Applicable

In addition to the documents mentioned above, you have to submit the following property documents at the time of application.

  • Copy of existing owner’s title deeds
  • Copy of agreement for sale
  • Land tax receipt copy
  • Building tax receipt copy
  • Encumbrance certificate from Sub-Registrar for last 31 years
  • Bank-approved valuator prepared valuation report of the property and building
  • Title clearance certificate the advocate approved by the banks

(Updated on 6th Jan 2017)

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