SBI HOME LOAN
Customers of State Bank of India who wants to buy a house can apply for a home loan in the bank. The interest rate and process fees on the loan are low. There are no hidden costs on it. A person can do pre-payment and there is no penalty for it. You can apply for an overdraft on the loan. Different types of SBI home loan are available like the regular home loan, Balance transfer, NRI home loan, flexipay home loan, and privilege home loan.
The regular home loan is available for buying an already built property or pre-owned homes. Take the loan for meeting expenses of construction or buying a property that is still being constructed. You can also take the loan for home repair, extension, and renovation. The balance transfer loan allows a person to shift a home loan in other banks to SBI. The NRI home loan helps Non-Resident Indians in buying a house or a property for investment purposes. The Flexipay SBI home loan allows a person to pay interest on pre-EMI period. After this time, one has to pay moderated EMIs. Thus, you get a higher loan and it is mainly meant for salaried people. The privilege loan is specifically available for government employees who have a pensionable service.