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SBI home loans are designed to meet the diverse needs of home buyers across India.The criteria of SBI home loan eligibility for self employed in 2025 has been made very easy and flexible so that all self employed professionals and non-professionals can buy or build their house as they dream of.
Most Suitable Product:
The most suitable product for under SBI home loans for self employed persons is SBI home loans to non-salaried (Differential Offerings) which make every self employed professional or non-professional person eligible enough to get the loan as per their financial eligibility.
This product is specifically designed for self employed individuals by offering the best possible SBI home loan eligibility for self employed professionals and non-professionals or business persons by providing the optimum loan amount to customers. Home Loans for the purpose of construction or acquisition of residential house or flat, takeover of existing home loans from other Banks or HFCs or NBFCs along with enhancement and repair or renovation of existing house or flat.
SBI home loan eligibility for self employed persons:
The most important criteria for SBI home loan eligibility for self employed persons are as follows:
- Resident Type: Resident Indian
- Wherever the applicant is Proprietor of a Proprietorship firm or is one of the partners in a Partnership Firm or is one of the Directors in a Company, the firm or the company.
A. Should be in existence for at least last 3 years.
B. Must have earned Net Profit in the last two years.
C. Any existing credit facilities, where applicable, must be operating on a regular basis and be classified as standard. An opinion report confirming this status will be obtained from the borrower’s current bankers.
D. Wherever the proposed House Property is acquired in joint names of the Proprietor and the Proprietary Firm, the firm should be our existing borrower or a debt free entity.
3. Minimum Age: 18 years
4. Loan Tenure: up to 30 years.
5. Loan Amount: Minimum: Rs. 50,000/- & Maximum: Rs. 50 crores.
Documents required for SBI home loan eligibility for self employed persons:
- List of papers and documents applicable to all self employed applicants :
- Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs.
- Proof of Identity (Any one): PAN or Passport or Driver’s License or Voter ID card or Aadhar card.
- Proof of Residential Address (Any one): Recent copy of Telephone Bill or Electricity Bill or Water Bill or Piped Gas Bill or copy of Passport or Driving License or Aadhar Card.
5. Property Papers :
(a) Permission for construction (where applicable)
(b) Registered Agreement for Sale (only for Maharashtra) or Allotment Letter or Stamped Agreement for Sale
(c) Occupancy Certificate (in case of ready to move property)
(d) Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
(e) Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
(f) Payment Receipts or bank A/C statement showing all the payments made to Builder or Seller.
6. Account Statement :
(a) Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
(b) If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year
(c) Income Proof for Non-Salaried Applicant or Co-applicant or Guarantor.
Features and benefits:
- Home Loan products to suit every need of self employed customers applying.
- Lower rate of interest.
- Low Processing Fee.
- No Hidden Charges.
- Interest charges on Daily Reducing Balance.
- Repayment up to 30 years.
The employment status, age, and income substantially affect the chances of loan approval of self employed persons.
The criteria of SBI home loan eligibility for self employed in 2025 has become very much flexible and easy which can help every self employed professionals and non-professionals make better decisions about buying or constructing their home. These vital factors determine if the applicant can qualify for up to 90% property cost coverage.
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