SBT or State bank of Travancore is a part of the State Bank of India. It provides home loans to everyone with good income and good credit history. To buy a new flat/house for loan amount upto Rs. 30 lakhs the bank provides 80% of the value of the property and above Rs. 30 lakhs and upto Rs. 3 crores it provides upto 75% of the value of the property as loan. The loan component for purchase of the plot will be 50% of the total project cost upto Rs.75 lac and 30% of the project cost above Rs.75 lac or 80% of the land value whichever is lower.
The maximum repayment term is 30 years or upto the applicant age is 70 years, whichever is earlier. Processing fees for the loan is nil upto a loan amount of Rs. 25, 000; 0.55% for a the loan amount of Rs. 20, 000 to Rs. 2 lakhs upto a maximum of Rs. 500 and above Rs. 2 lakhs 0.55% with a ceiling of Rs. 10, 000. No pre-payment charge are levied by the bank. The interest rate for the loan is 11.25%.