Advantages And Benefits Of The SBI Flexipay Home Loan
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SBI is the largest public sector bank of the country and has the maximum number of customers among all banks. It has multiple credit schemes for almost every type of lifestyle needs. The SBI Flexipay Home Loan is one of such schemes and has been created specifically for the needs of the middle-classes of the country.
SBI Flexipay Home Loan:
This is a special scheme which offers up to 1.2 times more chance of clearing the eligibility criteria as compared to other home loan schemes for working professionals. The scheme offers a minimum loan of Rs. 20 lakh. Salaried applicants with at least 2 years of experience in the professional category can apply for the SBI Flexipay home loan, provided their age is between 21 and 45 years. Customers can also choose to pay only interest in the moratorium period which is the pre-EMI period and they can pay EMIs thereafter once the moratorium period ends. The moratorium period can be up from 36 to 60 months.…show more content… This means that the customer can choose a longer repayment period up to 30 years and they are free to prepay the SBI Flexipay home loan without any penalty or prepayment charges.
SBI Flexipay Home Loan: Eligibility Criteria at a Glance
• Salaried executives or professionals with minimum 2 years experience
• Age should be more than 21 and less than 45 years…show more content… SBI Flexipay Home Loan: Documents Required
The documents required to apply for the SBI Flexipay home loan are:
• The application form duly filled by the borrower with all the details
• 3 passport sized photographs
• Copy of ID proof of any of the following: o PAN