STATE BANK OF INDIA

SBI HOME LOAN

IN-PRINCIPLE OFFER LETTER

Application Number: YLAPHL202212011617003

Date: 11-09-2024

To, Mr.Ruparam Songar and Mrs. Aruna Songar

We are pleased to advise that on the basis of documents submitted by you and the information furnished by you
vide application dated 08-03-2024, we are in-principle agreeable to sanction Home Loan up to maximum amount
of Rs.23,00,000.00 , subject to fulfillment of eligibilty norms and other terms and conditions governing SBI Home
Loans.

Product(Product Name) Home Loan

Maximum Eligible Loan Amount Rs.23,00,000.00

Interest rate(floating) 9.50 %

Loan Tenure 180 months

EMI Rs.24,018.00

Consolidated Processing Fee Rs.0.00

1) Agency Channel Coordinator:

In case of difficulty please be in touch with

2) SSL:
Faizan Memon
9324160512

Special Conditions:
1)Final eligible loan amount will be arrived after submission of complete sets of required documents and detailed
assessment.
2)The interest rate and Consolidated Processing Fee quoted are subject to change after detailed assessment of
loan as per eligibility and other norms.

MOST IMPORTANT TERMS AND CONDITIONS

Purpose for which home loan can be availed: The loan will be sanctioned for the purpose of purchase/
construction/ extension/ repairs/ renovation of new/ second- hand residential house/ flat plot of land and
furnishings and interiors (hereinafter referred to as the 'project‘).

Premium of Home Loan Insurance cover (Optional): The premium for the optional Home Loan Life Insurance cover
(if availed) may also be added to the loan amount.
Loan to Value Ratio (LTV): For loan amount up to Rs.30 Lacs, maximum permissible LTV ratio is 90% of the
realizable value of the property. For loan amount greater than Rs.30 Lacs and up to Rs.75 Lacs, maximum
permissible LTV ratio is 80%. A maximum permissible LTV ratio of 75% is applicable on a loan amount above Rs.75
Lacs.

Rate of Interest:

Floating Rate of Interest: - Interest on the loan outstanding will be charged at the rate of - 0.15 % (spread) above
RBI’s Repo Rate which is 5.9 % p. a. The present effective rate of interest being 8.40 % p. a calculated on daily
balance of the loan amount at monthly rests, subject to the interest rate reset from time to time as per Bank’s
extant guidelines in force, on the basis of the prevailing RBI Repo Rate. The spread is sum of Credit Risk Premium
of - 0.15 %. and other cost including operating cost. The Bank shall at any time and from time to time be entitled
to change Credit Risk Premium when borrower’s credit assessment undergoes change. Also. other cost including
operating cost can be altered periodically at Bank’s discretion.

Intimation of change in Interest Rate:- The borrower shall be deemed to have notice of changes in the rate of
interest whenever there are changes in RBI Repo rate or increase in interest rates ,where there is no change in RBI
Repo rate are either displayed on the Notice Board of the Branch or published in news papers or made through
entries of the interest rate charged in the passbook/ statement of account furnished to the borrower or displayed
on Bank’s website (https://bank.sbi) and the borrower is liable to pay such revised rate of interest.

Penal interest: - In the event of a default in payment or any irregularity in the account, the Bank reserves the right
to levy a higher rate of interest as it deems fit. Enhanced rate of interest 2% per month on the irregular amount for
the period of irregularity, over and above the applicable rate will be charged if the Equated Monthly Installment
(EMI) remains unpaid for a period of 30 days from the due date, for any reason, including a bounced cheque.

Repayment: The loan is to be repaid in Equated Monthly Installments over the tenure of the loan. The repayment
installment commences from a date specified in the sanction letter. The liability to the bank will be extinguished
only when the outstanding in the loan account becomes Nil, on payment of residual amount, if any.

Loan Tenor: Maximum 30 years (or) up to the age of 70 years (the age by which the loan should be fully repaid) of
the borrower, whichever is early.

Pre•closure Charges:- No pre- payment/ Pre- closure penalty will be levied on floating interest Home Loans
irrespective of the period for which the account has run or source of funds.
Security:

Primary: - The loan will be secured by Equitable / Registered mortgage/ extension of mortgage of the land and
building/ flat for which the loan is to be sanctioned.

Collateral:- Liquid securities of adequate value in the form of Life Insurance policies, Government Promissory
Notes, shares/ debentures, gold ornaments or such other tangible security as may be deemed appropriate, may
be pledged by the customer in lieu of mortgage of the residential property financed by the Bank.

Interim Security Pending Mortgage:- Wherever creation of mortgage is likely to be delayed tor any valid reason,
suitable security including third party guarantee, as considered necessary, may be taken for the interim period.

Utilization of the loan: The amount of the loan shall be utilized strictly for the purpose detailed in the Arrangement
Letter and in the manner prescribed. The construction of the house/ flat or the modification/ extension proposed
by the borrower
in the existing house/ flat should be strictly according to the plan approved by the

Local Authorities/ Town Planning and Development authorities. Any modification desired in the plan as originally
approved, can be undertaken only after express sanction for it has been obtained from the appropriate authority.

Insurance: The house/ flat purchased/ constructed with Bank's finance should be insured against the risk of fire/
riots/ earthquakes/ lightning/ floods etc. in the joint names of the borrower and the Bank for the actual project
cost after netting off the cost of land (including undivided share of land in case of flats), cost of stamp duty and
registration charges. Cost of the same shall be borne by the borrower.

The Borrower shall always be responsible to ensure that the insurance policy in respect of the hypothecated assets
remain valid till all the dues of the Bank are repaid and to keep such insurance policy renewed each year. The Bank
shall not be liable for any consequence arising from non- renewal of insurance in any year even if the Bank has in
any previous year renewed the insurance of the hypothecated assets by debiting the borrower’s account for failure
of the Borrower to renew such insurance policy.

Inspection: The Bank will have the right to inspect, at all reasonable times, the borrower's property by an
officer of the Bank or a qualified auditor or a technical expert as decided by the Bank and the cost
thereof shall be borne by the customer.

Fees and charges:

1. Processing fee: Processing fee as applicable to the Home Loan will be collected upfront. 0.35% of the loan
amount plus applicable GST subject to a minimum of Rs 2000/- and maximum of Rs 10000/- plus GST.
2. Other Fee/Charges: Reason Particulars Fee Amount Collected for Payment to Stamp Duty (- - - % of project of
State Govt cost) Registration Charges (% of project cost) % Other Fee Rs Total Rs.
The above-mentioned rates may vary from time to time
Fees paid to Bank’s empanelled advocate and valuer for their professional services will not be refunded even if the
loan is not sanctioned for any reason. State Bank of India retains the right to alter any charges or fees from time to
time or to introduce any new charges or fees, as it may deem appropriate, with due intimation to customer.
3 Conversion charges for switching loan from higher interest rate: Option for switching over loan from higher
interest rate to current / prevailing Coating rate is permissible on payment One- time switchover fee of Rs 5000/-
plus applicable taxes irrespective of the loan limit/ D.P (Drawing Power) or Outstanding Fees and Charges are
subject to change from time to time at the sole discretion oF SBI.
4. Disbursement: 4.1 All the security documents prescribed have been executed by borrower/ co- applicant (s)/
guarantor/s 4.2 A valid mortgage (equitable or registered if equitable mortgage is not possible) has been created
in favour of the Bank as per the laws of the State. 4.3 Wherever creation of mortgage is likely to be delayed for any
valid reason, suitable security including third party guarantee, has been taken for the interim period. 4.4 The loan
will be disbursed in stages where a loan for construction is desired or purchase is through payment to seller in
installments. 4.5 All necessary statutory compliances are in place.
SBI may disburse the quantum of loan in lump sum or in installments at its own discretion depending on the level
of construction of the House/Flat as acceptable to SBI. SBI will disburse loan amount directly to the builder/ seller/
society as the case may be and as requested / specified/ directed by the customer to SBI at the time of each
disbursement. SBI shall not be responsible / liable in any manner whatsoever for any delay by the customer in
providing such request/ specification/ direction to SBI and the customer snail not claim any costs, charges and
expenses in any relation to any non-disbursal by SBI due to any such delay by the customer.
The Bank reserves the right to collect any tax if levied by the State/Central Government and/or other Authorities in
respect of this transaction.
respect of this transaction.

Default:

In the event of default i.e. if the amount due is not paid by due date, the customer will be sent reminders from
time to time for payment of any outstanding on his loan account, by post, fax, telephone, email, SMS messaging
and/or through third parties appointed for collection purpose to remind, follow- up and collect dues. Any third
party so appointed, shall adhere to the Indian Banks Association's (IBA) code of conduct on debt collection.

Customer Service:

For any service related issue, customer can get in touch with SBI by:
• Calling Customer Help Line Numbers
• Contact Customer Grievance Cell at our Local Head Offices
• Write to Grievance Cell at our Local Head Offices
(Details on Help line Numbers and Grievance Cell available on www.sbi.co.in) In case a customer is not satisfied
with the handling of grievance by the Local Head Office, a communication may be sent (enclosing the message
sent earlier to Local Head Office) to the

Deputy General Manager(Customer Service), Customer Service Dept, State Bank Of India, State Bank
Bhawan, 4th floor, Madame Cama Road Mumbai-400021, Telephone No.(022) 22029456

Disclosure: State Bank of India is authorized to disclose from time to time any information relating to the loan to
any credit bureau (Existing or Future) approved by Government of India and Reserve Bank of India without any
notice to the borrower. State Bank of India is also authorized to make inquiries with the Credit Information Bureau
of India (CIBIL) and get the applicants Credit Information Report.
Disclaimer: The offer letter should not be construed as sanction of Home Loan and the Sanction of Home Loan
arise only after successful verification and completion by the borrower of the conditions of sanction and detailed
due diligence as per the Bank’s norms and requirements. This offer letter shall be deemed to have been revoked
unless the borrower is intimated of the sanction of Home Loan within 30 Days of this letter.
Annexure-A
Key Fact Statement

HOME Loan amount Rs.23,00,000.00

LOAN

2 Loan term 15 Years 0 months

3 Interest type (fixed or floating) Floating

​ (a) Interest chargeable (In case of Floating Rate

(a) 9.50 % (REPO RATE + ......) (b) Not
4 Loans) ​ (b) Interest chargeable (In case of
Applicable
FixedRate Loans)

​ (a) ….% (REPO RATE + ……) ​ (b) Not

5 ​Date of reset of interest
Applicable

Mode of communication of changes in interest ​ ank’s web-site:www.sbi.com entry in

B
6
rates statement of loan account

7 Fee payable

(i) Processing Fee: Rs.0.00

On application (Pl individually specify all type of (ii) Fee for Legal opinion: Rs.4000/-
a
fee) (iii) Valuation Fee: Rs. 2950/-
(iv) CERSAI Registration: Rs. 118/-

During the term of the loan (Pl individually NIL (Cost of insurance of the property has to
b
specify all type of fee) be borne by the customer)

On foreclosure (Pl individually specify all type of

c NIL
fee)
 STATE BANK OF INDIA
SBI HOME LOAN
CHECK LIST OF DOCUMENTS FOR HOME LOANS

FOR SELF-CONSTRUCTION PROPERTIES

(A) KYC DOCUMENTS

Officially Valid Documents (OVDs):(Any one of the following documents)

▷ PAN Card

▷ Passport

▷ Voters ID card

▷ Driving license

▷ Job card issued by NREGA duly signed by an officer of the State Government

▷ The letter issued by the National Population Register containing details of name and address

If the OVDs furnished by the customers does not contain updated address, any one of
the following documents shall be deemed to be OVDs for the limited purpose of proof
of address:

▷ Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid
mobile phone, piped gas, water bill);

▷ Property or Municipal tax receipt

▷ Pension or family pension payment orders (PPOs)

▷ Driving license

▷ Letter of allotment of accommodation from employer issued by State Government or Central Government
Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks,
financial institutions and listed companies and leave and licence agreements with such employers allotting
official accommodation.
 INCOME DOCUMENTS:
(B)

For Salaried Customers :

▷ Current pay slip (Original Salary Certificate from employer when pay slip is not available)

▷ Copy of Form 16 or copy of IT Returns for last two financial years Statement of Bank Account/ Pass Book
for last six months

▷ Personal Assets and Liabilities statement on Bank’s standard format (Annexure /HL-B)

For Businessmen and Professionals:

Copies of three years I.T. returns or Assessment Orders. Balance Sheets (Financial Statements) for last three
years.

Audited Balance Sheet:

▷If total annual sales or turn over or gross receipts exceed Rs. 1 crore in case of customers engaged in
business

▷If gross receipt in one year exceed Rs.50 lacs in case of customers carrying on profession

▷ Photocopies of challans evidencing payment of Advance Income Tax.

▷ Opinion report from the respective Bank, if firm/company has availed any credit facility from any Bank

▷ Personal Assets and Liabilities statement on Bank’s standard format (Annexure /HL-B)

▷ Statement of Bank Account/ Pass Book for last six months

▷ Proof of business address for non-salaried individuals

(B) PROPERTY DOCUMENTS

▷ Chain of title tracing the title from the oldest title deed to the latest title deed establishing title of the
property (copy of lease Deed, / Govt. grant/ allotment/Lease-cum/Sale Agreement/ Gift Deed /Settlement
Deed/ partition/family settlement deeds/ testamentary documents /will/ POA is involved in the chain of title
etc.,)
▷ RTC extracts/mutation extracts/ Katha extract etc.,

▷ Copy of approved plan/ building plan, permission of appropriate/local authority, etc.;

▷ Copy of property tax or land revenue or other statutory dues

▷ Permission from Govt. or any other authority for creation of mortgage, if required

▷ Copy of relative order in case of conversion of agricultural land or relevant Records/documents as per
local laws.

▷ Estimate from the empanelled Valuer.

▷ All statutory approvals as per local practice.