Housing Loan - SBI - South Africa
- Purchase of a house / flat.
- Repair or renovate an existing house /flat. Cost of furnishing/ purchase of consumer durables for the house/flat shall be treated as part of the project cost.
- Re-imbursement of investment made from own sources during the preceding twelve months for purchase of property / construction / repairs/ extension of house.
- Takeover of Home Loans availed by an individual borrower from other banks / financial institutions may be considered subject to compliance of takeover norms.
- Loan available to individuals between 18-60 years with steady source of income
- Earning family members can join as co-borrower/guarantor
- Minimum loan amount : ZAR 500, 000 and maximum: ZAR 50, 000, 000 depending on repayment capacity
- Security: mortgage bond over the property/ personal guarantee/ third-party guarantee
- Attractive and competitive pricing with PLR-linked interest rates
- Repayment : in equated money instalments (EMI) that takes care of interest component.
- Maximum repayment period : 20 years or in the case of expats expiry date of work permit, whichever is earlier.