SBI Home Plus

Background
Personal Loan to Existing Home Loan Customers.
To Meet their Personal Expenditure
Leverage the Value of the House Property

Loan Amount
Present market value of the house property less

(i) margin of 25% on the property value and

(ii) the present outstandings in the Home Loan account.
The present market value of the house property would be
decided by a fresh valuation from an approved panel
engineer/valuer.
However, for loans, upto Rs.2,00,000/- valuation as above is
not required and an assessment could be done by the
sanctioning authority.
Minimum loan amount: Rs.25,000/-maximum Rs.10,00,000.

Eligibility
All Home Loan customers with a
satisfactory repayment record of at least
one year and who maintain a SB/CA
account with us.

Repayment
Cases where Equitable Mortgage has been extended to cover
SBI Home Plus loan.
The term loan will be repayable in Equated Monthly
Installments beginning one month after the disbursal of the
loan.
Total loan tenure including moratorium, if any should not
exceed 120 months.
The overdraft facility will operate on a reducing drawing power
arrangement on the EMI basis. Total loan tenure including
moratorium, if any should not exceed 120 months.

Repayment
Cases where Equitable Mortgage is not proposed to be
extended to cover SBI Home Plus loan.
The maximum repayment period for loans under such cases
should not exceed beyond the remaining tenure of the
existing Home Loan.
The term loan will be repayable in Equated Monthly
Installments beginning one month after the disbursal of the
loan. In any case loan tenure should not exceed 120 months
including moratorium, if any.
The overdraft facility will operate on a reducing drawing power
arrangement on the EMI basis subject to a maximum of 120
months including moratorium period or remaining Home Loan
tenure whichever is lower.

Repayment
Within the overall repayment period , the
sanctioning authority may permit, at the request
of the borrower, a moratorium of upto 12 months
under both the cases mentioned above. Interest
will be required to be serviced by the borrower
during the moratorium period.

EMI/NMI Ratio
EMI/NMI ratio Not to exceed 60%.
In the case of borrowers with NMI of Rs. 10
lacs and above, the ratio may be relaxed upto
70%.
The EMI will include EMI of both proposed
and present borrowings, including all other
loans by the same borrower(s).

Number of Loans
Second loan under the scheme may be
considered after a gap of 2 years from the first
loan.

At any point of time not more than 2 loans will be

allowed to exist under the scheme, within the
overall ceiling of Rs.10,00,000/-, other than the
Home Loan.

Thank You