The premium amount broadly relies on few conditions:-
- Age of the person availing the loan (the younger the person, the lower the premium amount)
- Loan amount (the lesser the loan amount, the lower the premium)
- Period of the loan (the more the loan repayment period, more is the premium)
- Health of the loan taker (the premium amount would be low in case of good health of the individual)
SBI offers mortgage life insurance policy to the SBI home loan applicants thereby consolidating the insurance premium along with the EMIs. The State Bank Of India offers a free personal accident insurance cover to their clients availing home loan so that the client's family doesn't have to face any problem if he/she meets an accident that proves to be fatal.
The home loan applicants can get more information about SBI Home loan Insurance on the website
of bank: www.statebankofindia.com, www.sbi.co.in, www.onlinesbi.com.