Home Loan / Balance Transfer / Top-up




Special offer
  • Preferential rates on home loans starting 7.99%*
Product Features
  • Loans up to INR 15 crores*
  • Flexible repayment tenure up to 25 years*
  • Quick and hassle free process
  • Zero prepayment charges*
* Terms and conditions apply

 

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Home Loan Eligibility & Documentation

Eligibility Requirement for your SCB Home Loan application:

Eligibility Requirement for your SCB Home Loan application:

  • Applicant's age should not be more than 60 years in case salaried employee and not more than 65 years in case of self-employed professional/ non-professional, at the time of loan maturity.
  • Applicant should be a salaried employee or a self-employed professional/ non-professional.

Document Requirement for your SCB Home Loan application:

  • Identity Proof (Any One of the following Photo cards): Passport, PAN Card, Voter Id Card, Govt ID, etc
  • Address Proof (Any One of the following documents with current residence address): Passport, Driving License, Phone bill, Electricity / Other Utility bill, Rental agreement etc.
  • 1 recent passport-sized Photograph
  • Financial Documents:
    • Salaried: Latest three month salary slip
    • Self Employed Businessmen/Self Employed Professionals: Certificate & Proof of business existence along with Business Profile.
  • OR
    • Salaried: Last 6 months Bank Statements(salary account)
    • Self Employed Businessmen/Self Employed Professionals: Last 12 months Bank Account Statements (self & business)

Payment Options

Online Modes
  • Bill Desk Bill Desk: Now make your Home Loan payments anytime, anywhere and from any bank in a secure and convenient manner.
  • Online Banking If you are registered for SCB Home Loan online payment facility, you can transfer the Home Loan bill amount from your Savings or Current account to the Home Loan account online.
  • Visa Credit Card payment An innovative service that allows transfer of funds from your Bank account to any other Visa Credit Card issued in India

    • Offline Modes
  • Cheque Payment You can drop a cheque, favoring SCB Home Loan.
  • Cash Payment You can deposit cash towards your Home Loan at any of the SCB Home Loan Branches.
  • Auto Debit If you have an account with SCB Home Loan, you can instruct us to automatically debit your bank account with either the Minimum Amount Due or Total Amount Due of your monthly outstanding on your Home Loan. Your account should be a sole account or a joint account with an 'any' or 'either' signing mandate

    SCB Home Loan introduces ECS (Electronic Clearing System), an innovative facility for busy people. With this facility, your Home Loan amount gets debited from your registered savings bank account at your request, so that you don't ever have to worry about the last minute payment rush.

    Since this entire process happens through the Reserve Bank of India's electronic clearing mechanism, you can enjoy the advantages of ECS, no matter which bank you have your Savings Account with.

    • Home Loan FAQs

  • What is the process of applying for a Home Loan?
    • Step1:Submit your loan application along with required set of documents.
    • Step2:Your application would be accessed on the basis of various eligibility and funding norms.
    • Step3:A property valuation and title check may be carried out by the company representative to determine the property value and legal clearance of the property to arrive at the loan amount.
    • Step4:Based on the internal and regulatory guidelines, SCB Home Loan may approve or reject the loan application.
    • Step5:Submission of the original property documents are required along with signing of agreements, handing over of registered property papers and submission of post-dated cheques/ECS.
    • Step6:Upon finding all the documents in order, SCB Home Loan will disburse the loan amount to the developer/contractor based on the progress of construction. The EMI/Pre-EMI will commence after the disbursement.

  • Am I eligible for a Home Loan?
    You are eligible for a loan if you are a salaried, self- employed professional or a businessman. Your loan eligibility will be determined by SCB Home Loan on the basis of factors such as income, age, qualifications, number of dependants, co-applicant’s income, assets, liabilities, stability and continuity of occupation and savings history. Further, the loan eligibility will also be dependent on the value of property selected by you.

  • What percentage of property value can be funded?
    We can fund upto 80% of the property value in case of Home Loan and upto 60% in case of Loan Against Property. However, SCB Home Loan funding norms may change from time to time.

  • I purchased a property 3 months back; can i get a Home Loan?
    Yes, you can avail re-finance at applicable Home Loan rate within 6 months from the date of property purchase.

  • What is EMI and Pre-EMI?
    Your loan is repaid through Equated Monthly Installments, which include principal and interest component. EMI repayment starts from the subsequent month of full loan disbursement, while Pre-EMI is the simple interest, payable every month till the time loan is fully disbursed.

  • What are the documents required for applying for a Loan?
    • Salaried:
      • Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
      • Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
      • Latest three month salary slip
      • Last 6 months Bank Statements(salary account)
      • Form 16 for last 2 years
    • Self Employed Businessmen/Self Employed Professionals:
      • Age Proof (PAN Card, Passport, Any other Certificate from Statutory Authority)
      • Residence Proof (Passport, Driving License, Telephone Bill, Ration Card, Election Card, Any other Certificate from Statutory Authority)
      • Certificate & Proof of business existence along with Business Profile
      • Last 12 months Bank Account Statements (self & business)
      • Last 3 years Income Tax returns (self and business) with Profit & Loss Account & Balance Sheets duly certified/audited by a Chartered Accountant

  • How does floating rate change during the loan tenure?
    Floating rate is linked with our reference rate SCBHFR and may change from time to time as per the market conditions.

  • In case of change of floating rate of interest, will my EMI change or tenure?
    Keeping the borrower’s interest in consideration, EMI is kept unchanged till a point. In exceptional situations, the EMI is changed to support the principal repayment within a time frame.

  • What security do I need to provide?
    The prime security for the loan is by way of deposit of title deeds and/or such other collateral security as may be necessary. The title of the property should be clear, marketable and free from any encumbrances.

  • Can I prepay my Home Loan? Are there any charges applicable?
    Yes, you can prepay your Home Loan any time during the loan tenure. Currently it is free from any charges; however prepayment norms may change from time to time.

  • Can I get additional loan through my existing loan account?
    Yes you can get additional loan through the existing loan account based upon your repayment capacity and title/value of the property. You may contact any of our branches or place a request on our website for any such requirement.

  • How do I get my loan statement and income tax certificate?
    You need to contact your nearest SCB Home Loan branch to get the required documents; we also send income tax statement to all our customers at the end of every financial year.

  • How do I replenish exhausted PDCs?
    Kindly submit the Post Dated Cheques to your nearest SCB Home Loan branch before the EMI due date to avoid any late payment charges.

  • Does the property need to be insured?
    Property insurance is mandatory in order to protect your property against uncertainties like earthquake, fire or any damage and destruction due to natural and man-made calamities, during the tenure of the loan.

  • What does 10 years fixed rate of interest mean?
    SCB Home Loan offers a pure fixed rate of interest from the day of first disbursement for the period of 10 years (120 months); thereafter residual loan amount automatically moves to a floating rate of interest which prevails at that time.

  • Can I convert my existing loan from Fixed rate of interest to floating rate of interest to or Vice Versa?
    You will have an option to convert an existing loan under Fixed Rate of Interest scheme to Floating Rate of Interest scheme or vice versa by paying applicable switch fee, please refer to the schedule of charges under “fair practice code” section.

  • Can I prepay my Home Loan? Are there any charges applicable?
    Yes, you can prepay your Home Loan without any charges any time during the loan tenure if the same is under floating rate scheme. For home loan under other schemes, prepayment charges may be applicable, please refer to the schedule of charges under “fair practice code” section.




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