Saurashtra Gramin Bank Home Loan Interest Rate at 8.95% to 10.15%
| INTEREST RATE | 8.95% to 10.15% |
| LOAN TENURE | 20 Years |
| PROCESSING FEE | 0.50 % of loan amount |
| GUARANTOR REQUIRED | Please Contact Bank Branch |
| PRE CLOSURE CHARGES | As per bank's discretion |
Calculate Saurashtra Gramin Bank Home Loan EMI Calculate EMI Now
About Saurashtra Gramin Bank
Saurashtra Gramin Bank is a gramin bank in india established on 1978. It has headquarter in Rajkot and address is Wing-2, 1st Floor, LIC, Jeevan Prakash Building, Tagore Road, Rajkot - 360001 Gujarat, India. it has 563 branches across the state.
It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.
Saurashtra Gramin Bank Home Loan Interest Rates, Housing Loan at and 8.95% to 10.15% Updated on February 2024. Apply for Home Loan Online. Find Saurashtra Gramin Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Saurashtra Gramin Bank Home Loan?
- Saurashtra Gramin Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Saurashtra Gramin Bank offers timely assistance to the customers
Saurashtra Gramin Bank Home Loan Purpose
- To purchase or construct a new or old house or flat
- To repair, renovate, extend, alter an existing house
- To purchase ready flat or house from housing societies or State Government Housing Board or private builder
- To buy consumer durables for a new house under Total Home Loan Scheme
Saurashtra Gramin Bank Home Loan Eligibility
- The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
- The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
- The applicant must be salaried or self-employed with a regular income.
- The applicant must earn more than the minimum required income.
Saurashtra Gramin Bank Home Loan Document Required
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
Tax Benefits of availing Saurashtra Gramin Bank Home Loan
There are two types of tax benefits associated with home loan for Resident Indians:
Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).
Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.
Saurashtra Gramin Bank Home Loan Amount
Up to 60 NMI or 5 NAI for applicants over 21 to 45 years of age.Up to 48 NMI and 4 NAI
for applicants over 45 years of age.
Total deduction including installment of this loan should not exceed 60% of GMI.
EMI| NMI Ratio should not exceed 57.50% for A and 50% for B as above.
Margin
For purchase of existing or construction of new house|flat, extension of existing house, Furniture & Consumer durables -15 % for loan upto Rs. 25.00 Lac
20 % for loan above Rs. 25.00 Lac
For Repairing | Renovation -
20% For Purchase a plot of land
30% Max & Min Loan:
Saurashtra Gramin Bank Home Loan Repayment
For applicants up to 45 years of age : Maximum of 20 years (inclusive of moratorium period, if any).For applicants over 45 years of age : Maximum of 15 years (inclusive of moratorium period, if any).
Security
Equitable Mortgage of Property for which applied for Housing Loan.- Third party guarantee for delayed mortgage.
- Post Dated Cheques
- Check - off facility for salaried person
In Case of Prepayment of Saurashtra Gramin Bank Home Loan, will EMI change?
One can pre-pay Saurashtra Gramin Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.
How to reduce your Home Loan EMI?
- Negotiate with your banker on lower interest rate
- Apply for longer tenure
- Give maximum amount as down payment
- Pre-pay loan amount
- Switch to another bank/ FI offering lower interest rate
Contact details of Saurashtra Gramin Bank, Saurashtra Gramin Bank SMS balance check number SMS banking, Saurashtra Gramin Bank mobile banking, Saurashtra Gramin Bank toll free number,Saurashtra Gramin Bank toll free number 24*7, Saurashtra Gramin Bank miss call number.
- MISSED CALL NUMBERS - 9289200123
- CUSTOMER CARE NUMBERS - 0281-2482421, 2482422, 18005327444, 18008331004
- CONTACT NUMBERS - 0281-2482421, 2482422, 18005327444, 18008331004, Fax-0281-2371127
Saurashtra Gramin Bank Contact Details
- BANK OFFICIAL WEBSITE - https://www.sgbrrb.org
- CONTACT NUMBERS - 0281-2482421, 2482422, 18005327444, 18008331004, Fax-0281-2371127
- EMAIL ID - [email protected]
- MISSED CALL NO. - 9289200123
- CUSTOMER CARE NO. - 0281-2482421, 2482422, 18005327444, 18008331004
- TOTAL BRANCHES - 563
- HEADQUARTER - Rajkot
- BANK ADDRESS - Wing-2, 1st Floor, LIC, Jeevan Prakash Building, Tagore Road, Rajkot - 360001 Gujarat, India
Saurashtra Gramin Bank Home Loan FAQs Home Loan Document Required
