Housing Loan

Purpose

SBI SA offers loans to individuals to enable them to

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.

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