SBI has brought a special home loan scheme for all salaried employees. Under this, the borrower gets many benefits. Under the SBI Flexipay Home loan, any person can take a home loan 20 percent more than the loan capacity.
In this way, you get many benefits in SBI Flexipay Home loan. Let's know about them one by one.
What are the benefits?
SBI has claimed that low processing fees are charged in SBI Flexipay Home loans.
Along with this, no hidden charges are levied in it.
If you repay the loan on time, then no prepayment penalty will have to be paid.
Under this, 20 percent more loans are available than the loan capacity.
You can repay this loan within 30 years.
On the other hand, if a woman applies for a loan, she gets a discount on interest.
These documents will be required.
If you want to apply to this scheme, then you will need the documents mentioned below.
The borrower will have to provide an Employer Identity Card.
For proof of identity, you will have to provide any one of your PAN cards, passport, voter ID card, etc.
Along with this, telephone, electricity or water bill will also have to be given for proof of home address.
Apart from this, some documents related to the property for which you are taking the loan will be required.
A Bank account statement of the last 6 months in the bank passbook will also be required.
If any other loan has been taken, then the statement of the loan account of the last year will be required.
Keep these things in mind while taking a home loan
If you want to apply for a home loan, then it is important to keep some things in mind. Like-
You should compare the loans of different banks. The lower the interest rate on the loan, the more beneficial it will be. Taking a loan at a lower interest rate will also reduce your EMI.
Apart from this, check whether the bank is charging any kind of pre-payment charge or not.
Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.
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