The State Bank of India is the largest bank of India and the SBI home loan services are one of the best in the country. The bank is the largest in the world in terms of employees and branch offices. The SBI or the State Bank of India came into existence in 1806 as the Bank of Bengal which makes it the oldest Indian commercial bank. Nationalized in 1955, this bank has a banking base amounting to $126 billion. This is a colossal banking conglomerate and therefore it is easily understandable that the home loan services of SBI are out of the ordinary.
Home loans of SBI are provided for the following purposes:
Purchasing existing house or flat
Purchasing new house or flat
Repairing, making extensions, renovating, altering existent houses or flats
Purchasing plots of land in order to construct houses
In addition to have the standard home loan packages, the State Bank of India also has a wide array of customized packages for home loans, which caters to particular types of customers. One example is the SBI-Flexi Home Loans. This helps customers in circumventing their home loans against erratic movement of interest rates. Besides, this scheme also provides the customers the one time irrevocable choice of the customized combinations of floating and fixed interest rates.
In order to suit the individuals having high net worth, the SBI-Freedom Home Loans have been designed. This scheme provides full financing of projects. If the customer can produce liquid securities like NSCs or LIC policies, then, mortgage of the property is not required.
The following are some of the advantages of opting for SBI home loans:
While calculating the loan amount that is receivable by the customer, one has the option of pooling together the incomes of one's children and spouse
There is no maximum limit for purchasing a flat or house
An international ATM debit card can be got on a complimentary basis
Personal insurance cover against accidents
Contact Address of SBI:
Corporate Center,
Madame Cama Road,
Mumbai 400 021 India
