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State Bank Of India NRI Home Loan

If you are looking out for a nationalized bank in India with great online facility including internet banking, ATM facility and many such great features, the best bank would be State Bank Of India. Popularly called as SBI this bank offers plenty of useful services for NRI including NRO, NRE,FCNR bank accounts, Home Loan etc. Today I explored the SBI website and found the interesting features available in NRI (Non Resident Indian) home loan scheme :
1) Fast Processing – This will not take more than a month provided you submit all the documents needed without any fail
2) Administrative Fee Waived – This is fee associated with processing the home loan. This is charged by some private banks. This is totally waived in case of SBI. This is a great option to be looked at if you are planning for small loan amount of around Rs.3,00,000 (3 lakh and around)
3) No Hidden Costs – This bank loan has complete transperancy
4) Bank Takeover Option available – You can transfer your existing loans from other bank to SBI
5) Higher loan amount is possible
6) Early payment no issues – If you repay the amount after half of the original tenor, you don’t have any penalty. So, you can clear 20 year loan in 11 years without any penalty
7) Avail other loans – Mortgage loan, student loan can be availed if we have a good payment record
8) Concessions on charges for personal remittances and outstation cheques
9) Best e-banking facility
10) Availability of branches across globe – This great network makes process simple and more easy

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