NRI Home Loan form

Based on the provided application form for SBI Home Loans, the key points are organized into five primary sections (Form A through Form E).

1. Personal Details (Form A)

• Applicant Roles: The form collects data for the Applicant, Co-applicant, and Guarantor.

• Identity Verification: Requires standard identifiers such as Aadhaar/UID, PAN, Passport, Driving License, or Voter ID.

   

• Relationship Disclosure: Applicants must disclose if they are a near relative of any Director or the Chairman of SBI or other banks.

2. Employment & Income (Forms B & C)

• Employment Type: Covers Salaried individuals (PSU, Private, Govt, etc.) and Self-employed/Businessmen.

• Work History: Requests details on total work experience, remaining service until retirement, and whether there was a service break longer than 3 months in the last 2 years.

• Financial Tracking: Includes sections for gross/net monthly income, existing loan outstanding balances, and three years of net profit for business owners.

3. Loan & Property Details (Forms C & D)

• Loan Purposes: Options include purchase of new/old houses or flats, construction, plot purchase, repairs, or balance transfers from other banks.

• Specific Schemes: Lists various products such as Maxgain, Privilege HL (for govt employees), Shaurya HL (for defense), and NRI Home Loans.

• Property Status: Requires information on whether the property is under construction or ready to move, and its RERA registration status.

4. Insurance & Collateral (Forms D & E)

• Insurance Options: Offers optional group life insurance plans (e.g., SBI Life-RiN Raksha) to cover the loan liability in case of the borrower’s death.

• Security: Identifies the primary property being mortgaged and any collateral security like Term Deposits, Life Insurance Policies, or Immovable Property.

   

5. Important Declarations

• Verification Consent: By signing, applicants authorize the bank to verify information through third parties and share data with CIBIL.

• Processing Timeline: The acknowledgment section notes that requests are typically disposed of within 15 days from the receipt of a completed application.