SBI is one of the most trusted banks in India. They provide different kinds of home loans to cover a wide range of customers. Some of the home loan types offered by SBI are Privilege Home Loan, SBI Flexipay Home Loan, SBI Realty Home Loan, SBI Bridge Home Loan, SBI Shaurya Home Loan, and SBI PAL.
Here, we will discuss every section of the SBI Home Loan Application so that you don’t make any mistakes while filling your form.
SBI Home Loan Application Form: Types
For any SBI Home loan, you will get four types of forms, form A, B, C and D. These are the classic SBI Home Loan application forms.
- Form A – In this form, you need to provide all your details
- Form B – Applicant need to provide his employment and income details in this form
- Form C – Property and Loan-related details you need to mention here
- Form D – The final part comprises the declaration
Form A
In this form, the first thing that you need to mention is if you are a guarantor, applicant or a co-applicant. A guarantor is a person who will take a guarantee for the person who wants to avail a loan, whereas an applicant is a person who is availing a loan. Here you need to fill all your details, such as:
- Nationality
- Number of dependents
- Name of father & spouse
- Date of birth
- Name
- Gender & salutation
- Residential status
- Place of birth
- Highest education qualification
- Telephone number or mobile number
- Current address/ permanent address
- PAN or GIR number
- Office contact details
- Personal email id
- Office address
- Driving license number
- References – For verification bank needs two persons, who are not related to you.
- Repayment mode – You need to assure which method of payment you will choose to repay your loan amount. These are the following methods that you can choose from
Standing Instruction: As per your given instruction bank will debit your account to pay your loan EMI.
Check-off: Your employer deducts EMI from your salary
Electronic Clearing System (ECS): If you have an account in another bank still you can pay your EMI to another bank, without any manual interference.
Other options: If your bank provides any other option for the repayment of a loan, you can avail that.
Post-dated cheques: Here you can provide cheques to the bank, mentioning the advance date on it and the bank will make your payment, on that date.
Relationship with the bank: You need to mention the number of years you have been banking with SBI.
Form B
In Form-B, you need to mention whether you are a pensioner, salaried, businessman or self-employed person. The details mentioned below, you need to provide if you are a salaried person:
- Your employment status
- Name of your employer
- In which industry you are operating- like, sales, digital marketing, banking or insurance, etc.
- Type of organization
- Website of your current company
- Till date total experience of your professional life: previous employer details needed
- The total number of employees in your organization and remaining service, if close to retirement.
The details mentioned below are required for a self-employed person:
- Name of your business, and it’s nature
- Trade license number & its expiry date
- Number of shares, you have in your company
- Details of the assets you own
- Information related to your bank account
- The name of the person who holds the power of attorney
Form-C
Here you will choose the type of home loan you want to take. Details required are:
- Builder’s name
- Property type
- Cost of property
- Loan amount, if you have taken
- Down payment, and other loan repayment details
- Plot area in square feet, built-up area, flat no, block no
- Address of the property
- Seller contact details
- Building name
- Insurance option, you like to choose
- Purpose of loan
- Moratorium period: This is the period when you don’t pay any EMIs. You also need to specify, do you want to capitalize on your interest.
Form-D
Once you read the terms and conditions of SBI and mention all the required details of yours, you need to sign the contract that you agree with the terms and conditions of SBI. By signing this form, you mean that all the details mentioned in the form are correct as per your knowledge.
Once you are done with your Home Loan application form, you will be approved by the bank and the loan will be sanctioned. These above-mentioned details will help you to fill your form without any hazards.
