Advantage of SBI CAR Loans
Ques: What makes of cars does SBI finance?
Ans: We finance all makes of new cars and Heavy Vehicles, you are free to choose any vehicle you want to own.
Ques: Can my spouse's income be included for calculating the loan amount?
Ans: Yes, your spouse's income can be included provided he/she joins as co-borrower.
Advantage of SBI Housing Loan
SBI Provides Housing Loan for
Ques: How long does it take to get my loan sanctioned?
Ans: Your loan can get sanctioned in a matter of days provided you have all the documents in place.
Ques: Can I apply jointly with my spouse? Will both our salaries be taken into consideration for calculating the loan amount?
Ques: Can I prepay the loan? Are there any penalties?
Ans: There is no pre-closure / prepayment penalty applicable on SBI Home Loans.
Ques: What are the tax benefits of taking an SBI Housing Loan?
Ans: Under the Indian Income Tax Act of 1961, resident Indians are eligible for certain tax benefits on principal and interest
components of a loan. Under Section 24(1), interest repayment of Rs.1,50,000/- per annum qualifies for tax saving.
An added benefit under Section 80(c) on repayment of principal amount to the extent of Rs.1,00,000/- is also available
on the same loan subject to compliance with conditions stipulated in the IT Act.