SBI Her Ghar Loan: Special Home Loan For Women

By BankBazaar | June 15, 2017

SBI Her Ghar Loan: Special Home Loan For Women

Yearly increases in rent, humongous security deposits, constant arguments with the landlord over visitors coming by too often and a curtailed sense of freedom. Do any of these experiences describe your current living situation?

Sadly, these are just few of the disadvantages of living in a rented house. If you happen to be going through any of these ordeals, maybe it’s high time you started thinking about moving into your own house.

Additional Reading: Document Checklist For Buying A House

While you may be worried about the down payment and monthly EMIs that come with a Home Loan, we have some good news to put your mind at ease. Apart from a ton of great Home Loan offers at low interest rates to choose from, we have a Home Loan scheme designed exclusively for women.

Additional Reading: Should I Buy A House Or Continue Staying On Rent?

Have you heard of the SBI Her Ghar Loan? If yes, you must consider applying for one (if you’re a woman, of course). If you’re curious to know more then drop what you’re doing and keep reading.

What is the SBI Her Ghar Loan?

As the name suggests, the SBI Her Ghar Loan is a Home Loan scheme started by the State Bank Of India to empower and encourage women to buy/build houses of their own. SBI is also known for its comprehensive range of loan products for every class of applicants.

What is the SBI Her Ghar Loan a great option for women?

Here are some points that make this loan scheme one of the best available options for women applicants:

  • Affordable Rate Of Interest:

SBI Her Ghar Home Loan for women comes at a concessional interest rate of 9.85% per annum. That means an EMI of only Rs. 867 per lakh when calculated for a period of 30 years. 

  • Flexibility Of Repayment:

The maximum repayment tenure for SBI home loans is 30 years, or until the borrower reaches 70 years of age, whichever is earlier.

  • High Quantum of Finance:

After taking several factors into consideration, like the applicant’s income, assets and liabilities, property value, repaying capacity etc., SBI offers a high quantum of financing for Home Loans.

  • Hassle-Free Application Process:

With minimal documentation requirements, low processing charges and an online portal for application management, applicants can be assured of a hassle-free Home Loan application process.

What Is The Eligibility Criteria?

In order to apply for a Home Loan under this scheme, the following conditions will need to be fulfilled:

  • A woman must be the sole applicant or the first co-applicant
  • The property to be financed should either be in the sole name of the woman applicant or she should be the first owner in case of joint ownership
  • The applicant must be an Indian resident
  • The applicant should be aged at least 18 years as on the date of sanction and not more than 70 years
  • She should have a regular income and a good credit rating

All these in place? Congratulations! You are eligible to apply for the loan.

So, what are you waiting for? Apply for an SBI Her Ghar Loan and make your dream of owning a home of your own come true. If you are still unsure, you can explore and compare our Home Loan offers and make a pick.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Home Loans Your dream home

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