SBT Home Loan Interest Rates

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Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

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    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-

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    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

    ParticularsDescription
    Interest Rate9.20%-10.45% p.a.
    Maximum Loan Amount₹5 Crore
    Tenure30 Years
    MarginNIL
    Processing Fee0.50% of the loan amount+ Service Tax
    Maximum- ₹10,000
    SecurityProperty 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.

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    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 ₹)
    200000019.20%1,75,0881,01,06221,01,062
    200000029.20%91,5531,97,27521,97,275
    200000039.20%63,7862,96,28922,96,289
    200000049.20%49,9603,98,09123,98,091
    200000059.20%41,7115,02,66725,02,667
    200000069.20%36,2506,09,99426,09,994
    200000079.20%32,3827,20,04827,20,048
    200000089.20%29,5088,32,80028,32,800
    200000099.20%27,2989,48,21529,48,215
    2000000109.20%25,55210,66,25730,66,257
    2000000119.20%24,14311,86,88431,86,884
    2000000129.20%22,98613,10,05333,10,053
    2000000139.20%22,02414,35,71534,35,715
    2000000149.20%21,21315,63,82035,63,820
    2000000159.20%20,52416,94,31536,94,315

    Amortization Table

    YearPrincipal (In ₹)Interest Outgo (In ₹)Balance (In ₹)
    164,985181,3031,935,015
    271,219175,0691,863,796
    378,056168,2321,785,740
    485,549160,7391,700,191
    593,759152,5291,606,432
    6102,757143,5311,503,675
    7112,621133,6671,391,054
    8123,430122,8581,267,624
    9135,276111,0121,132,348
    10148,26198,027984,087
    11162,49083,798821,597
    12178,08568,203643,512
    13195,17951,109448,333
    14213,91332,375234,420
    15234,57611,844

    SBT Housing Loan Documents Required

    ProofsSalaried ProfessionalsSelf-employed
    Identity ProofVoter ID/Pan Card/Driving License/PassportVoter ID/Pan Card/Driving License/Passport
    Address ProofVoter ID/Passport/Electricity Bill/Telephone, Property Tax ReceiptVoter ID/Passport/Electricity Bill/Telephone, Property Tax Receipt
    Business Address ProofN.A.Registration of Service Tax/VAT/Sales Tax & Electricity or Telephone Bill
    Income ProofLatest Salary Slips, 6-month Bank StatementITR, Profit & Loss Account and Balance Sheet for Last 2-3 Years, 6-month Bank Statement
    Assets & Liabilities StatementApplicableApplicable
    Duly Signed Loan Application FormApplicableApplicable
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    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)