SBI home loan : do we need to submit bills

POSTED BY chandan blr ON May 9, 2013 8:02 pm COMMENTS (8)

Hi All,

When I filled loan disbursement form (first installment) for my SBI Maxgain loan,the processing guy told me that for filling next disbursement form I need to submit bills of construction .

(my loan is for construction of house – independent)

Wanted to know 

1) Is this a rule – and applicable to all

2) what percent of bill should I submit

3) if my loan is say 18L should I submitt bills for all 18L split across all disbursement forms ( which I think is not practical )




8 replies on this article “SBI home loan : do we need to submit bills”

  1. Venkatesh says:


    Recently, even i encountered same problem with Bank of Baroda, I am half way done with the construction, and the bank is asking for bills. Should all the bills have VAT etc.. or a normal bill is enough. Please suggest.

    1. Normal bill is fine !

      1. Venkatesh says:

        Hi Manish, thanks a lot for your reply. I submitted normal bills and it was accepted by the bank.

  2. ashalanshu says:

    Dear Amit and dear chandan, the Bill thing can be sorted out if you people arrange a development contract with some one and who ‘ll develop the whole property and ‘ll issue bills/demand notice for the construction. all individual things ‘ll be taken care by this developer.



  3. Amit says:

    Dear Chandan,
    I am also planning to take loan for home construction. SBI told me that I need to submit bills to get disbursement. As mentioned in your mail, its not possible to get bill for all expenses.

    Did you find any solution for that? Did SBI gave any alternative?

    Thanks in advance…


  4. Dear Chandan, please contact RACPC people & they ‘ll help you out.



  5. chandan blr says:

    I am half way through the construction , what I can fore-see is that I can get only 40 to 50% of the bill (only Cement , Iron guys give me bills )
    Sand ,Stones , bricks and Labor does not give bills

    Should I talk to SBI RACPC guys , any one with previous experience share me ideas on how to proceed , few of my friends told NO such construction bills were produced by them , no sure why I am struck with this issue .

  6. Dear Chandan, Let’s say your total construction cost is 25L Rs. & you are availing 18L Rs. loan & balance 7L Rs. from your own pocket. Now for an under construction property, bank ‘ll release the loan in tranches subject to %age completion of the property. You have to submit bills as per these tranches. For example, bank is releasing 5L+5L+5L+3L, in this case you should provide the bills accordingly.



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