Borrower to maintain the property in good condition and ensure to pay all taxes and charges on time.House property to be insured against fire, earthquake and other calamities by the borrower at his cost with usual Bank clause.Self-occupied and owned residential property by the borrower.Valuation / Legal / Stamp Duty / CERSAI / Memorandum registration charges as per actual.Rate of Interest to be reset in every five years.As on date, the rate of interest is 12.15% (Fixed).The rate of interest to be charged would be as per the extant guidelines issued.Settlement of loan along with accumulated interest is to be met by the proceeds received out of sale of residential property or prepayment by borrowers and his next of kin.Loan shall become due and payable only when the last surviving borrower dies or opts to sell the home or permanently moves out of the home to an institution or to relatives.Borrower need not pay the amount in his/her lifetime.Minimum tenure of 10 years and maximum tenure of 20 years, if the borrower's age is above 65.Minimum tenure of 15 years and maximum tenure of up to 20 years, if the borrower's age is between 60 and 65.In case the property located in other than Metro/Urban – 70% of the assessed value of the property.In case the property located in Urban – 80% of the assessed value of the property.This tool is designed to show you how compounding interest can make the outstanding balance. In case the property located in Metro – 90% of the assessed value of the property Use this free calculator to help determine your future loan balance.Loan amount is inclusive of future interest up to maturity.Loan eligibility depending on value of property.Number of surviving spouses on the date of sanction should not be more than one.Minimum age of borrower to be 60 years and that of the spouse to be 55 years. Individual, either singly or jointly with spouse as co-applicant. Use the reverse mortgage calculator to help determine the balance of a reverse mortgage.Owns self-occupied residential property in India. SBI Reverse Mortgage loan offers a unique system of cashflow to senior citizens.
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