Every financial dealings involve risk and there is no exemption in lending money to public. Bank calculates their risk factor in each and every loan products hence making ways to subdue collecting authenticated documents from its loan customers. Here we can find what are the documents usually banks ask to a loan customer. Please note that the list is only indicative and not exhaustive, and depending upon the local requirements at different places addition could be made as per necessity.
SBI Home Loan Documents
Loan customers may think possibility of transferring loan to more customer friendly bank, sometimes, reasoning better interest rate, relaxation of fine imposing etc. When they think about taking a loan, there may not have studied various bank's terms, conditions, policies. After starting repayment of some installments, they would have learned about their bank's merits and demerits. If another bank has better offer, they can transfer loan to another bank, if current bank allows and economically beneficial.
As we all know, one of the main function of Commercial Bank is giving loans and advances to their customers, in which a major share goes as Home Loan product that comes under Personal Banking. Home Loan is considered as a secured, low risk loan to all banks because it compulsorily requires collateral or immovable assets as a security to loan amount. Here is the comprehensive list of documentation for Home Loan takers. Check this Home Loan Document List and keep this listed documents ready with you prior obtaining your loan. This Home Loan Document List is applicable not only to SBI but all other banks seeks more or less same documentation.
SBI Housing Loan becomes the most demanding home loan across the banking sector in India and you will never regret if you have taken housing loan from State Bank Of India. Other banks have very attractive offers for housing loan, once you have availed one of those home loans, there will be a day that you realize "I could have at least gone through the details of SBI housing loan". There is a saying among the home loan takers "Upto loan sanctioning, other banks are good; after sanctioning, SBI is good".