SBI Shaurya Home Loan : Eligibility, Interest Rate, Features & Benefits

SBI Shaurya Home Loan



SBI Shaurya Home Loan (SBI SHL) plan is dedicated to the Army and Defence Personnel of the nation.
This special SBI home loan scheme will be only provided to the defence employees.
SBI Shaurya Home loans will have lower interest rates and also other added benefits which will only be provided to the defence employee applicants.
Apart from reduced interest in the, the defence employees will also have the ease of re-payment options and may get longer re-payment period of the loaned amount.

SBI Shaurya Home Loan Eligibility

Before applying for loan, customers must check their eligibility for it to avoid loan rejection. Shaurya loan eligibility criteria is given as below:

  1. Resident Type is Indian
  2. Minimum Age is 18 years.
  3. Maximum Age is 75 years.
  4. Loan Tenure is up to 30 years.
  5. Loan Amount – As per the applicant’s credit score.
  6. Employment Type – Defence Personnel.

SBI Shaurya Home Loan Interest Rate

SBI Shaurya Interest rates as applicable to others category will be applicable after taking into consideration the LTV Ratio, Risk Grade, gender and limit.

Click here to view old Interest Rates (Source-SBI).

SBI Shaurya Home Loan Calculator

Documents Required

List of documents applicable to all applicants:

  • Employer Identity Card.
  • Loan Application – Completed loan application form duly filled in and affixed with latest three passport size photographs.
  • Proof of Identity – PAN/ Passport/ Driver’s License/ Voter ID card.
  • Proof of Residence or Address- Recent copy of Telephone Bill/ Electricity Bill/copy of Passport/ Driving License/ Aadhar Card.

Property Papers:

  • Permission for construction.
  • Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale.
  • Occupancy Certificate (in condition of ready to move property).
  • Share Certificate – Maintenance Bill, Electricity Bill and property tax receipt.
  • Approved Plan copy (Xerox copy) & Registered Development agreement of the builder, Conveyance Deed (New Property).
  • Payment Receipts or bank account statement showing all the payments made to Builder or Seller.

Account Statement:

  • Last 6 months Bank a/c statements for all Bank Accounts held by the applicant/s.
  • If any previous loan from other Banks, then Loan account statement for last one year.

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary Slip or Salary Certificate of last three months.
  • Copy of Form 16 for last 2 years or IT Returns for last two financial years.

Income Proof for Non-Salaried Co-applicant/ Guarantor:

  • Business address proof.
  • IT returns for last 3 years.
  • Balance Sheet & Profit & loss account for last 3 years.
  • Business License Details.
  • TDS Certificate.
  • Certificate of qualification.

Features & Benefits

The main features and benefits of SBI Shaurya Home Loan are:

  • Offers loan at attractive interest rates
  • Zero processing fees on the loan scheme
  • Zero prepayment charges for easy repayment
  • Long repayment tenure of up to 30 years.
  • Interest concession for women home loan borrowers.

Source – SBI

Frequently Asked Questions

What is SBI shaurya home loan?
SBI Shaurya Home Loan is a housing loan facility designed especially for Defence Personnel, Individuals working in Army, Navy, Air force, etc.

What will be the EMI for 20 lakhs home loan?
The loan amount an applicant will get depends many factors which includes their risk grade, LTV ratio, repayment capacity.