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Www Homeloanhomefinancing R Home Loan Home Financing Szh Zh Member Message GetBoardMessageByToMember Do Home Loan Home Financing

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   Personal Loan Products
At SBT, we have a number of lending products to meet your varied needs of funds. 

                           Types of Personal Loan

Against deposits  Cash Key Facility 
Gold Loans  Conventional         Liquid Gold
Against scrips   Mitra Varsha 
Personal Loans

click on the above links for details

Interest Rates & PLR 

contact any of our branches to avail the loans

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Cash Key facility 

  • The most convenient method of obtaining advance against deposits. 
  • Unlimited withdrawals permitted in a Current account upto 90% of the deposit amount and interest accrued.  
  • Cheque book facility is available. 
  • Interest charged on these loans will be 1% above the interest rate allowed on the deposit  irrespective of the amount, rate of interest and period.

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Gold Loans

Conventional

  • Loans against Gold ornaments. 
  • Amount of Loan - Maximum 10 lacs
  • Period of loan - 6/12 months and can be further renewed 
  • Simple easy documentation. 

Liquid gold - SBT Gold overdraft

  • Overdraft facility against pledge of Gold ornaments, operated as a running account with facility of cheque book. 
  • Amount of Loan - Maximum 10 lacs
  • Loans are granted for 6/12 months and can be further renewed.

 

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Mitra Varsha  Loan against shares & securities

A single over draft limit against the pledge of various types / combination of securities viz. IVP,LIC Policy, SBI Life Policy, Treasury FD, Post Office FD.

By pledge of

 Minimum Limit Rs.50000/-

Maximum Limit
LIC/SBILife Policies

Govt Of Kerala Treasury FD/Post Office FD

Indira Vikas Patra

 95% of Surrender value Max  Rs.20.00 lacs

70% of deposit + accrued interest. Max Rs.20.00 lacs

75% of purchase value 
Max Rs.5.00 lacs

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Housing Loan  

PURPOSE

For construction, purchase / repair / renovation / alteration of a house or for purchase of a plot for the construction of a house.

PERSONS ELIGIBLE

  1. All Resident with regular monthly income with a  minimum NMI of Rs. 12,000/- and  Non-Resident Indians with a regular monthly income with a minimum NMI Rs. 15,000/-.
  2. Spouses of Non-Residents, who are residents and receiving regular monthly income.
  3. Salaried persons, self employed businessmen, professionals and agriculturists, who have regular monthly income and who have a minimum of three years of standing / experience in their line of activity.
  4. The age should be such that the borrower is able to close the account before he attains the age of 70.
  5. Relaxation in eligibility criteria from the minimum of 3 years to 1-2 years is allowed to employees of government/quasi government departments /establishments and listed companies whose minimum NMI is Rs. 20,000/- or more.

AMOUNT OF LOAN

  1. 60 times of Net monthly income (NMI)/ Average monthly income (AMI) for individuals upto 45 years of age.
  2. 48 times of Net monthly income (NMI)/ Average monthly income (AMI) for individuals over 45 years of age

However the repayment obligation is restricted to Maximum 60% of the NMI/AMI.

Maximum amount of the loan is Rs.300 lacs.

MARGIN 

  • upto Rs.30 lac - 20%

  • above Rs.30 lac and upto Rs.3 crore - 25%

INTEREST click here for interest rates

DISBURSEMENT

  1. Construction of new building

    In three stage, 30%, 40% and 30% of the loan amount. The last installment will be disbursed three or four weeks prior of the completion of the building

  2. Outright purchase 100% to the seller, after payment of the margin by the applicant.
  3. Purchase of plot and construction of the building.

The loan component for purchase of the plot will be 50% of the total project cost upto Rs.75 lac and 30% of the project cost above Rs.75 lac or 80% of the land value whichever is lower.

REPAYMENT

  • UPTO 30 YEARS SUBJECT TO LIQUIDATTION OF THE LOAN BEFORE THE BORROWER REACHES THE AGE OF 70 YEARS.

    It includes the repayment holiday of a maximum of 18 months. Repayment will begin on completion of the house or 18 months from the disbursement of the first installment of the loan, whichever is earlier.

  • NO PREPAYMENT PENALTY ON PRECLOSURE OF FLOATING RATE HOUSING LOANS W.E.F 31/10/2011

SECURITY

Mortgage of property by deposit of title deeds.

PROCESSING CHARGES

Limit upto Rs.25,000 - Nil

Limit above Rs.25,000 to Rs.2 lacs - 0.55% of the loan amount (Max.Rs.500/-)

Limit above Rs.2 lacs - 0.55% of the loan amount maximum Rs.10000/-

INSURANCE

Insurance is to be arranged for the total cost of building.

PAPERS TO BE SUBMITTED TO BANK

In addition to the application form(in duplicate) and two passport size photographs, the following papers are to be submitted to the Bank.

PROOF OF INCOME

In case of salaried persons:

    1. Salary certificate showing deductions.
    2. Authorisation to deduct monthly installments from the salary of employee for credit of the loan account wherever available.
  1. In the case of self employed / professional / business men.

Audited accounts and Balance Sheets/income tax assessment orders/Returns/Memo/Statements of computation of taxable income filed for the last 3 years.

DOCUMENTS TO BE SUBMITTED FOR CONSTRUCTION / IMPROVEMENT OF HOUSES

  1. A copy of the plan inclusive of site plan approved by the Corporation/ Municipality/Development Authority/Panchayat as required.
  2. A copy of the building permit issued by the Corporation/ Municipality / Panchayat as required. In areas where building permit is not required a No Objection Certificate from the authority concerned.
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