Why BankBazaar Home Loan?
  • Compare multiple bank offers
  • Apply Online for Lowest Rates
  • Get e-approval instantly
SBI Home Loan Ratings
3.5 / 5.0 by 8 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

SBI Home Loan Reviews

"First i applied the home loan in axis bank but i did not receive call from them not sure why, later i approached SBI then i got the home loan...after applied within one month i got the loan. customer service response not good but interest rate is good."

, Coimbatore
More Reviews
Choose Loan Offers From

SBI Home Loans

Great Housing Loan deals from world’s largest bank State Bank of India. Check SBI Home Loan deals.

SBI Home Loan Interest Rates

Apply for SBI Home Loans with low interest rates and minimal documentation.

SBI Home Loan Comparison

Check Processing Fees, Calculate EMI and Compare SBI Home Loan Interest rates online.
Secure & Safe

Compare SBI Home Loan with other banks & check your loan eligibility

We've identified the lowest interest rate quotes for your profile with great savings.

Rates & special offers displayed below are accurate & applicable ONLY for applications made on BankBazaar.com

  • Some fields are incorrect or have not been filled in. Please correct this to proceed.
  •       Self Employed?
    Slowly start typing your employer's name and choose from the recommendations provided. If you do not see your employer on our list, simply type the name in this field.
  • This is your gross monthly salary as per your monthly payslip prior to deductions (include only payments via direct deposit or cheque i.e. exclude payments in hard cash and in-kind components)
  • Include only the following components of cost: Basic Cost, car parking (if being sold), Firefighting charges, electricity/water charges,Electrification charges, Power Back Up, Internal Development Charges (IDC), External Development Charges (EDC), Preferential Location Charges (PLC), Interest Free Maintenance Security Deposit ( IFMS), Club Membership, VAT & Service Tax, Stamp duty and registration charges.
  • Please provide First Name as it appears in your PAN card.
  • loading..
Step 1 of 3

SBI Home Loan Overview

SBI Home Loan Compare & Apply for Low Interest Rate Home Loans from SBI.

SBI is the most ideal Home Loan providers in India. State Bank of India is the world’s largest bank with over 13,700 branches in India. State Bank of India is dedicated to protect environment and is offering Unique Interest rates offers on Green Homes Housing Loans. Check your Eligibility Now!

SBI Housing Loans come with unique advantages:
  1. Low interest rates with interest on daily reducing balance
  2. Low processing fees
  3. No hidden cost & no administrative charges
  4. Zero prepayment penalties. Use excess funds to reduce the interest load
SBI Home Loan Products:
  1. SBI Maxgain
  2. SBI Realty
  3. SBI Home Plus
  4. NRI Home Loans
  5. SBI Tribal Plus
  6. Gram Niwas
  7. Sahyog Niwas
  8. SBI Green Home Loan
  9. Earnest Money Deposit (EMD) Scheme
  10. SBI Reverse Mortgage Loan
  11. SBI Surakshit Home Loan
  12. SBI Yuva Home Loan
  13. SBI Home Loan PAL
SBI Home Loan Amount:

Actual loan amount will be based on the factors such as loan applicant’s income and repaying capacity, age, assets and liabilities, cost of the property etc. To enhance loan eligibility you have option to add:

  1. Your Spouse, Children’s living with you as co-applicants.
  2. Expected rent from the proposed property purchase, incase you plan to rent it out.
  3. Regular additional income from other sources.

SBI Home Loan FAQs

  1. Will SBI offer in-principle approval for home loans before finalising the home?
    Yes, State Bank of India gives in-principle approval for your home loans. The approval is based on your income and repayment capacity.

  2. How long does SBI take to sanction a home loan?
    If your documents are ready and valid then it will take around 7 days time for the home loan approval.

  3. Is it possible to apply for SBI home loan with co-applicant?
    Yes, you can certainly apply with a co-applicant like your spouse; this will help in getting better loan amount. Your spouse can be joint owner for the property or can be a guarantor as well.

  4. What would be the security against the SBI home loan?
    Generally all banks including State Bank of India require a mortgage of the property for which the loan is being taken.

  5. What is the processing fee for SBI Home Loans?
    SBI charges a minimum of 0.25% of the loan amount and a maximum of Rs. 10,000 if the loan amount is above Rs. 75 lacs. The processing fee is payable at the time of documentation only.

  6. Is there a penalty to prepay the SBI home loan?
    No, there is no prepayment or pre-closure penalty with SBI Home Loans.

  7. Will I get tax benefit with SBI housing loan?
    Yes, under the Income Tax Act of 1961, you are eligible to get tax benefits of up to Rs. 1,50,000 per annum for repayment of Interest component and up to Rs. 1,00,000 per annum for repayment of Principal component.

  8. Do SBI offer home loan on daily reducing balance interest rates?
    Yes, SBI offers home loan interest rates on daily reducing balance.

SBI Home Loan Eligibility & Documentation

State Bank of India Home Loans Eligibility Criteria:

  • Loan Applicant should be minimum 18 years of age.
  • Maximum age of applicant can be 70 years by which the loan amount has to be paid in full.

Documentation required for SBI Home Loan:


Documents required for Salaried:

  • Application form with 3 photographs.
  • Identification proof (photocopies of Passport/Voters Identity Card/IT PAN card/ Driving licence).
  • Residence/address proof (photocopies of latest electricity bill/telephone bills/ passport/property tax receipt/Voters identity card).
  • Pass Book or bank account statement for past 6 months.
  • Statement about individual assets and liabilities.
  • Signature authentication from current bankers.
  • Original Salary Certificate/Pay Slip from employer.
  • Copy of Income Tax Returns for past two financial years or TDS certificate on Form 16 properly approved by the Income Tax Department.
  • Processing fee cheque.

Additional Document required for Self Employed:

  • Education qualifications certificate & proof of business existence.
  • Business profile.
  • Last 3 years profit/loss & balance sheet.
  • Photocopies of receipts showing Advance Income Tax payment.

SBI Home Loan Interest RatesUpdated on 17 April 2014

Details of SBI Home Loan

SBI Bank Loan Interest Rate.(Monthly reducing balance)
9.95% to 10.10% floating
Base rate - 9.7%. Check Customized Interest Rates Now!
Processing Fees
Varies by loan amount from Rs.1,000 to Rs. 10,000
SBI Bank Home Loan Tenure
5 year to 30 years
Other Fees
Advocate's fee for property search & title investigation report. Fee for valuation report
Prepayment Charges
Nil
Guarantor Requirement
Guarantor is required in same city

Home Loan Articles

  • Checklist-Home loan documentation!
    Home loans are easy to come by these days. So, don’t fret over it. Focus on the documents you need to furnish while applying for a home loan. Documents required: We give you a standard list of documents your bank will ask for. Besides this you need to submit details of the property or home you are obtaining the loan for.
  • Are you loan eligible?
    Home loans are the most easily accessible financial supplement to purchase your dream home. To understand how to enhance your eligibility to apply for a home loan, make a simple self-assessment. Here is how banks do it.
  • Beware of these home loan facts!
    A bank is eligible to demand additional security when property prices fall. Even if you are loyal on your EMI payments, this clause demands a security cover in addition to your loan amount and if a borrower fails to provide such a security then he/ she may be declared a defaulter by the lender.
  • Have more questions on loans? Ask us now!
    GATEWAY_HL_ARTICLE5_SUMMARY

Home Loan Forum

Comments: 97    Views:      September 26

Comments: 3    Views: 35     March 27

Comments: 1    Views: 28     March 25

Comments: 1    Views: 71     March 23

Comments: 1    Views: 1     March 21

Comments: 1    Views: 32     March 18

Comments: 1    Views: 42     March 13

Comments: 3    Views: 13     March 12

Comments: 1    Views: 42     March 11

Comments: 1    Views: 21     March 07

Comments: 0    Views: 22     March 06

Comments: 2    Views: 22     March 04

Comments: 1    Views: 21     March 03

Comments: 3    Views: 12     March 03

Comments: 0    Views: 11     February 26

Comments: 0    Views: 32     February 18

Comments: 0    Views: 41     February 17

Comments: 3    Views: 52     February 08

Comments: 1    Views: 51     February 08

Comments: 0    Views: 12     February 14

Comments: 0    Views: 21     February 10

Comments: 1    Views: 102     January 07

Comments: 1    Views: 51     January 07

Comments: 1    Views: 11     January 07

Comments: 4    Views: 112     December 27

Comments: 1    Views: 71     December 27

Comments: 1    Views: 42     December 27

Comments: 3    Views: 52     December 27

Comments: 0    Views: 1     December 27

Comments: 1    Views: 2     December 16

SBI  Home Loan Reviews
100 % of our customers would recommend this bank. (8 out of 8) Write Review
Customer Reviews
Page 1 of 1 1
  • Customer Support should be improved
    /images/customer_review/default-unknown-person.png
    VIJAYA SARATHY, chennai
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    3.0/5
    validated-source
    (0)

    "SBI's customer support is not that much good. They charge annual fees and no waiver options are available like other bank credit cards. They have lot of formalities for everything which is annoying. They must improve their customer support. Since their response level was poor I had to close my credit card account and for that also i faced lot of problems when i requested initially for closure via phone banking. Later I approached the bank directly to close the credit card.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Good service from SBI!!!!
    /images/customer_review/default-unknown-person.png
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    validated-source
    (1)

    First i applied the home loan in axis bank but i did not receive call from them not sure why, later i approached SBI then i got the home loan...after applied within one month i got the loan. customer service response not good but interest rate is good.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Excellent service from SBI!!!!
    /images/customer_review/default-unknown-person.png
    SHEETAL JAIN, indore
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    5.0/5
    validated-source
    (1)

    I very happy with SBI services they have responded to me on time whenever i tried to contact them. they must improve their customer support team. I guess their interest rate is ok it would be nice if they reduce their processing fees. otherwise everything is good.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Best service from SBI!!!!
    /images/customer_review/default-unknown-person.png
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    validated-source
    (0)

    I tried to apply for this loan through other banks and was not able to get one. when i approached SBI they helped me effectively in getting this loan for me. to my surprise they processed my loan within 30days...i am very much satisfied in their interest rate as well

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Slow Process
    /images/customer_review/default-unknown-person.png
    ASHISH CHANDRAKAR, raipur
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    3.5/5
    validated-source
    (0)

    I have opened a new account in SBI recently.I approached SBI for saving account since being a nationalized bank.Rate of interest on loans are very low and my saving account request was processed within 15 days. SBI account is very useful and can be given as a reference when few organizations ask for same from the nationalized banks

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Online Services should be well advanced
    /images/customer_review/default-unknown-person.png
    ARUNAVA DEY, delhi
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    3.0/5
    validated-source
    (1)

    Net banking Service of SBI is not so good.They must update their sites regularly and make it user friendly.Though a request for cheque book can be made online ,for collecting the same , I have to visit the branch as SBI sends the parcel by normal post and the post man is unable to deliver the cheque book and returns the same to the bank.It will be better if they send it via courier.SBI's rate of interest on loans are reasonable,comparative and attractive

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Fine Services
    /images/customer_review/default-unknown-person.png
    PRASHANT SURESH SHANDHAR, mumbai
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    validated-source
    (1)

    I have my salary account with SBI and till now i have not faced any problem in my account.Their services are fine.With regard to credit card, they promised me that i will not be charged any annual fees as the card given to me was life time fee but they waived off the charges only for 2 years and from next years onwards they started charging which is bit worrying

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Needs Improvement
    /images/customer_review/default-unknown-person.png
    KAMLESH H PATEL, vadodara
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    3.0/5
    validated-source
    (0)

    SBI's customer service is satisfactory. I have my saving account with SBI for the past 7 years and got my account opened in my native place. For every transaction i need to visit my native place which i feel it as a very difficult process.It will be better if SBI brings a easy process to transact and thier customer service is satisfactory.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 1 1