SBI offer home loans for the construction of the residential house on the already owned land. SBI also offers loans for other purposes like purchase of plot by salaried people, purchase of flat or house, renovation of residential house and other purposes.
Home loans are offered to permanent salaried people, businessmen, self employed persons and individuals with regular income who can liquidate loans. SBI offers term loans to the loan seekers.
For the salaried persons the SBI home loan amount is restricted to 60 times of the monthly gross salary. For other individuals, the SBI home loan amount is limited to 4 times of the gross income.
