Apply For SBI Home Loan and benefits of SBI home loans

“The ache for home lives in all of us, the safe place where we can go as we are and not be questioned.”- Maya Angelou

There is nothing more secure, comforting and happier than our own home. Buying own home is dream of many and the home loans have made it easier for many to start living in their own homes. It provides an opportunity to book the house even when somebody has small amount. State Bank of India, being a government bank gives more opportunities and relief to those who wish to apply for home loans. One can easily apply for home loan online and offline. There are various types of SBI home loans like SBI Yuva home loan, SBI Maxgain home loan and many more. Every plan has its own features and eligibility criterion. For instance, the SBI MaxGain home loan gives borrowers the benefit of using their temporary surplus money in their account to reduce the interest payable on their home loans. Let’s assume that there is a home loan customer who has funds for a while in his account but cannot use it to foreclose the loan because of his other obligations in the near future, then that customer can put his same money in the Maxgain home loan account. This surplus amount will be deducted from the principal loan amount due, and the interest for the home loan will be calculated accordingly. The benefit of this is that the surplus parked is available for the customer to withdraw at any time, which will ease up the interest paid with each EMI and it will help clear the loan faster. So, the home loan is sanctioned as an overdraft which will operate like a savings bank or current account wherein the customer can use the account as a regular savings account and maximize savings on the interest. Applying online for SBI home loans has made it easier for customers. The documents required for applying for a SBI home loan, the procedure to apply for a SBI home loan and all other details are available online. However, if you wish to get more benefits on the interest rates and also want to save time during application process then the Loanyantra team is always there to guide and assist you throughout the process. For calculating the eligibility and other essentials for applying for SBI home loans, you can use our calculators here.

Zero prepayment penalty
Lump sum interest profits