SBI Home Loan

SBI Home Loan
 3.5 / 5.0   by 34 users
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Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

State Bank of India (SBI), the world’s largest bank, has many home loan schemes tailored to the needs of customers including SBI Maxgain, SBI Realty, SBI Home Plus & NRI Home Loans. Some of the advantages of an SBI housing loan are low interest rates with interest on daily reducing balance, low processing fees, no hidden cost & no administrative charges, plus zero prepayment penalties. View more details about SBI home loan below.


You’re probably eligible for an SBI Home Loan if you are

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SBI Home Loan Minimum Age

At least 21 years old

 SBI Home Loan Maximum Age

Less than 60 years old

SBI Home Loan Eligible Employment Type

Salaried / Self-employed
with regular income

SBI Home Loan Minimum Income

Earn more than the minimum
income required


Your SBI Home Loan amount eligibility is based on these factors

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SBI Home Loan Minimum Salary

EMI limited to about 50%
of monthly income

SBI Home Loan Maximum Loan to property value

Loan capped @ 75% to 80%
of property value

SBI Home Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible SBI Home Loan amount by these steps

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SBI Home Loan Add Spouse as Co-applicant

Make your spouse a co-applicant,
and her income will add
to your eligibility

SBI Home Loan Maximum Tenure

Choose longer tenure loan up to 30 years

SBI Home Loan Add parents as Co-applicant

Alternatively add your parents


Documentation needed to apply for an SBI Home Loan

  • 1. Signed application form with photograph
  • 2. ID and residence proof
  • 3. Processing fee cheque
  • 4. Last 6 months bank statements
  • 5. Documentation for salaried applicants:
    • Last 3 months salary-slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:

    • Education qualification certificate & proof of business existence
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

SBI Home Loan Interest RatesUpdated on 23 Jul 2014

SBI Home Loan Details
Interest Rate (Monthly reducing balance) 10.15% to 10.30%
Processing Fees Rs. 1,000 to Rs. 10,000
Loan Tenure 1 year to 30 years
Partial pre-payment Charges Nil
Pre-closure Charges Nil

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SBI Home Loan Reviews

97 % of our customers would recommend this bank. (33 out of 34) Write Review
Customer Reviews
Page 1 of 2 1 2
  • Validated User

    I was very keen to take a home loan from SBI as their interest rates are low, but later I dropped the plan of taking a home loan as their executives are ready to come to my place to collect the documents and I have to go all the way to the Branch to do is and the Branch staff does not have a clear picture about verification also and hence I am was not that interested with SBI

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User

    It was a good experience of availing a home loan from SBI last month. I didn't face any difficulty in availing a loan because of my friend who is an employee of SBI helped me to complete the loan process smoothly. Quite easy documentation and the processing time was just 10 -15 days. Best part is the rate of interest offered to me was very good compared to other banks.

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User

    I approached SBI because of its low rate of interest(10.15%) and being a floating one.I was also promised that processing fee would be waived off.I had submitted all my documentation on time and it took bank more than a month to disburse the loan amount.I was not updated about the status of my loan application and SBI loan agent were not that co-operative.I had to myself go to bank on weekends to get the things done and avoid penalty by builder(as builder had already provided me the demand letter). To summarize,I would say if you want low rate of interest then go for SBI,but be prepared to goto bank several times as SBI customer support team is not that proactive.

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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User

    It was good experience i had with State bank of India personal loan disbursement. Processing of the loan took almost 1 month which was quite long but verification was all quite fine. In terms of documentation, i received a good assistance from the executive and the follow up was to good.

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User

    I Am not fully satisfied with the service provided by SBI, they took a long time to approve my loan and follow ups were not done on regular basis. I personally had to approach SBI for every step. Even while applying for bank statements for loan process I was told to visit the SBI branch where i had account and executives did not let me to get bank statements from the nearby SBI Branch. Also the response was very poor for documents collection and loan quotes given by SBI was not flexible. Experience with bankbazaar was really good and the site was informative!

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User

    Lovely experience with SBI Home loan once after applying the home loan within one month I received it, I am throughly satisified because they have given me the best interest rate and nominal processing fee for which I am really grateful to them.

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    Promised Interest Rate
    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User

    To start with I am extremely satisified with SBI as they are very fast in processing the request, once after its been applied with in 7 days they started to process the request, they are speedy when compared with other banks and that is why I have choosen SBI for my home loan.

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Good
    /images/customer_review/default-unknown-person.png
    PRASAD K KULKARNI , pune
    Recommend Recommended by user
    Validated User
    (2)

    I was very much happy with the service they render in applying for the housing loan from Axis bank the processing and the documentation was very quick, the customer service executive was helping me from the day one till my loan amount got approved and the rate of interest is less when compared to other financial institution.

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    Fees & Charges
    Promised Interest Rate
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    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Excellent
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    AMIT AGGARWAL, chandigarh
    Recommend Recommended by user
    Validated User
    (5)

    I was very much impressed with the service they render to me on applying the Housing loan from State Bank of India, the processing and the documentation was very smooth and the customer service executive name Mr Sandeep Sing who took the initiative from the day one till my loan amount got approved, the whole process got completed in two weeks, overall service was good.

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    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (2)

    State Bank of India I applied for the housing loan the processing and the documentation was very quick, the customer service executive was helping me from the day one till my loan amount got approved and the rate of interest is less when compared to other financial institution.

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    Promised Interest Rate
    Fees & Charges
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    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Excellent
    /images/customer_review/default-unknown-person.png
    SANJAY SINGH TIWARI, mumbai
    Recommend Recommended by user
    Validated User
    (6)

    I applied for a Housing loan in State Bank of India the initial process was little slow, I was very happy with the Housing loan manager named Sanjay Chiddarwar from DN Nagar branch Mumbai. who was providing me the regular status on the loan till the loan amount got approved, the overall service was really good.

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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Good to Go
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    PRASATH PALANI, chennai
    Recommend Recommended by user
    Validated User
    (3)

    State Bank of India Housing loan the documentation was very quick and I was little disappointed with the late response but the end result was good and the customer service executive called Swaminadan he helped me in making the loan process very quick from the day one till the loan amount got credited, overall service was good.

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    Promised Interest Rate
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    Customer Service
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Good
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    NARESH KUMAR SUTHAR, mumbai
    Recommend Recommended by user
    Validated User
    (6)

    I applied for a Housing Loan from State Bank of India, I would say they reduce the burden in documentation and little disappointing that the verification process got little delay, but the rate of interest was low when compared to other banks, over all the service was good.

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • GOOD SERVICE
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    SRIKANTH KATTAM, hyderabad
    Recommend Recommended by user
    Validated User
    (5)

    SBI Housing Loan is good, they are offering 0% processing fee for the home loan, which is splendid their service is very good, their interest rates are compatible however they wont approve it if there is any missing documents or if its not up to the mark, otherwise their overall service is good.

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    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • AWESOME SERVICE
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    NISARG BHAGAVATHEESWARAN, mumbai
    Recommend Recommended by user
    Validated User
    (2)

    State bank of India Home Loan offered me the best rate of interest, their interest is very low compared with other banks and their processing fee is quite normal. Their service is excellent, they gave me the next steps clearly. Its totally a hassle free process.

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have my home loan with SBI, issue with them is when the loan rates are changed they say that it is applicable only for the new customer and not for the old customers. Interest rates are very competitive and all the services provided by them are fine being a nationalized bank. It will be better if they give the privileges of new rates to the existing customers at least for those who pay ontime and being loyal."

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    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Excellent Bank
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    SUDHAKANT SHARMA, kolkata
    Recommend Recommended by user
    Validated User
    (2)

    SBI Home Loan is good, their customer service is good, the interest rate is compatible when compared with other banks their processing fee is good, emi is affordable. They explained to me about documentation procedure and their service is good.

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (6)

    State Bank of India is very old nationalized bank, i have chosen sbi for their reasonable rate of interest and charges are quite ok.SBI was good in terms of customer service and i haven't faced any problem with them......................

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (8)

    I got my home loan processed from SBI. Initially they took long time to process but later things were done smoothly.They charged very less processing fee and their legal clearance is very good. We blindly can trust the legal clearance of SBI an d the best thing with SBI is they provide zero % pre-closure / pre-payment charges.

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (3)

    SBI is good for loans,they gave me proper response and their processing fee and rate of interest is very less when compared with other banks.Another feature that i like with SBI is they have a scheme called Super Saver Scheme in which the interest payouts on saving account is high when compared with normal accounts. Worst thing with SBI is they force the customers to take insurance against the property for which the loan is taken.They must stop doing this as they cannot force any customer to apply for insurance.

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