A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • SBI Home Loan

    SBI Home Loan
     3.5 / 5.0   by 270 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 18 years old

     SBI Home Loan Maximum Age

    Less than 70 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

    01
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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 03 Jul 2015

    SBI Home Loan Details
    Interest Rate (Floating) For women - 9.70%
    For others - 9.75%
    Processing Fees 0.25% of Loan amount (Minimum Rs. 1000, Maximum Rs. 10,000)
    Loan Tenure 30 years
    Pre-closure Charges Nil

    Overview of SBI:

    State Bank of India (SBI) is a government owned banking and financial service organization. The bank is headquartered in Mumbai and is the largest banking institution of India in terms of assets. The bank has a massive presence in the country with over 17,000 branches spread across the nation’s length and breadth. Not only this, the bank has a huge international presence too with branches in over 34 countries of the world. SBI caters to a large base of individual and corporate clients and has operations in the fields of personal banking, investment banking, corporate banking, asset management and so on.

    SBI Home Loans:

    State Bank of India provides a range of home loan products to suit the individual needs and preferences of its customers. Various surveys and consumer awards have conferred the title of ‘The most preferred Home Loan Provider’, to SBI. Low interest rates, flexible payment options and zero hidden charges are some of the features that lend to the popularity of SBI home loans.

    With thousands of branches spread across various geographical locations has made SBI one of the most accessible banks to obtain a loan from.

    Why apply for a SBI Home Loan through BankBazaar?

    Applying for a home loan can sometimes become a great hassle if you do not have all the information required to choose the correct option. Since SBI offers a host of home loan schemes, opting for the best-suited and most applicable scheme can become a massive task. BankBazaar provides you with all the right information required to obtain a loan. Not only this, BankBazaar also helps you in asking the right questions, calculating your EMIs (through online calculators) and in comparing the rates of different home loan schemes.

    New Lowest Interest Rate: The State Bank of India has reaffirmed its commitment to assist in the progress of India’s women folk, offering a newly launched home loan scheme at an interest rate of just 9.85% per annum that applies exclusively for women. The remaining borrowers can procure similar SBI home loans at an interest rate of 9.90% per annum (for others), a number that qualifies home loans from SBI as a very competitive loan option.

    SBI Home Loan Schemes:

    SBI offers a wide range of home loan products to its customers. You can choose the best home loan scheme that suits your budget and requirement. SBI home loans come with exclusive packages and benefits to cater to the home finance needs of all its customers. Following are some of the home loan options available from SBI.

    • SBI MaxGain Home Loan:
    • The SBI MaxGain home loan aims to enable its customers to reduce their interest burden at no extra cost. This home loan acts as an overdraft account too, giving the customer privilege to withdraw and deposit amounts depending upon their cash availability. Bank provides internet banking and cheque book facility with this home loan. Excess funds when parked with this account impact the overall principal and the associated interest. Also, a customer can choose to withdraw amount from the linked account in case of excess parked funds.


      Features:
      • Min. Loan Amount – 5 lacs
      • Max. Loan Amount – No upper limit
      • Interest Rate – 0.25% over and above the existing home loan interest
      • Higher Liquidity, Savings on total interest paid
      • Pre-closure Charges - Nil
      • Interest Rate – Floating 10.15%

    • SBI Yuva Home Loan
    • This SBI home loan is tailored especially for individuals who are young and generally taking loan for their first home. The age eligibility is between 21-45 years. This loan grants an amount which is 20% over and above the regular loan amount. This home loan is ideal for fresh professionals and government employees. Under this scheme the home loan full repayment starts only after 36 month from the date of availing the loan. For the first 36 months only interest needs to be repaid.


      Features:
      • Eligibility – 21-45 years
      • Minimum Income – Rs.30,000 per month
      • Pre-closure Charges - Nil
      • Interest Rate – Floating 10.15%

    • SBI NRI Home Loan
    • As the name itself suggests, the NRI loan is tailored for Non-Resident Indians (NRIs) and for People of Indian Origin (PIOs). This loan is given to an individual who earns a regular income and whose minimum employment period (in India or abroad) is not be less than 2 years.


      Features:
      • Min. Loan Amount – 3 lacs
      • Max. Loan Amount – No upper limit
      • Eligibility – NRI or PIO
      • Pre-closure Charges - Nil
      • Interest Rate – Floating 10.15%

    • SBI Realty:
    • This SBI loan is for people who want to buy land or plot. The construction should commence within 2 years from the sanction date of the loan. This type of loan comes with the flexibility of availing another loan for construction purposes on the land bought. So a customer is entitled to avail two simultaneous loans on the SBI realty home loan.


      Features:
      • Max. Loan Amount – 15 crores
      • Loan Tenure – Up to 15 years
      • Pre-closure Charges - Nil
      • Interest Rate – Floating 10.15%

    • SBI PAL
    • This is a Pre-Approved Home Loan from State Bank of India. This loan does not depend upon the property to be bought. SBI grants its customers the freedom to avail the loan amount before deciding upon the property. This gives customers the needed confidence to negotiate boldly with builders/sellers regarding the price of the property.


      Features:
      • Eligibility – Depends on the annual income of the applicant
      • Tenure – Pre-Approved Letter of arrangement is valid for a period of 4 months
      • Min Loan Amount – 10 Lacs
      • Max Loan Amount – No upper limit
      • Pre-closure Charges - Nil
      • Interest Rate – Floating 10.15%

    • Her Ghar Home Loan:
    • This is a home loan scheme designed especially for women applicants. A woman needs to be the sole applicant or the primary applicant for this type of home loan. Also, the property for which home loan is being taken should be in the name of the woman applicant or she should be the primary owner in case it of joint ownership. This home loan scheme by SBI aims at enabling women to own property and carries a social obligation in line with the empowerment of women.


      Features:
      • Loan Tenure – 30 years
      • Interest Rate – 9.85%
      • Pre-Payment Charges - Nil

    More Housing Loans from SBI:

    Apart from the above listed regular home loan schemes by State Bank of India, there are several other options also which aim to uplift people from tribal and village areas of the nation. These schemes are in line with the organization’s commitment towards comprehensive nation building.

    Here are a few such housing schemes offered by SBI-

    • SBI Tribal Plus:
    • This housing loan from SBI is meant for customers who are from tribal areas or hilly regions where mortgage of property is not available. The loan is provided for construction of a new house or flat and for purchase of a new house. Under this scheme SBI also provides an option of taking loan for the purpose of renovation or repair.


      Features:
      • Min. Amount – nil
      • Max. Amount- 10 lacs
      • Repayment Period – up to 15 years

    • GRAM NIWAS:
    • The Gram Niwas scheme from State Bank of India is aimed at providing housing finance to the customers from rural regions of the nation. This housing plan covers people from rural or semi-urban regions which have a population of less than 50,000 as per the 2001 census. Under this scheme, home loans can be availed for buying of land or house, renovation and repair of house and construction of house.


      Features:
      • Min. Amount – nil
      • Max. Amount- 5 lacs
      • Repayment Period – up to 15 years

    • SAHYOG NIWAS:
    • Sahyog Niwas scheme aims to provide home loans to self-help groups which have a good credit history. The bank lends to members of these groups under this scheme for purposes of buying of land or house and construction, repair or renovation.


      Features:
      • Min. Amount – nil
      • Max. Amount- 50,000 per person of the self-help group

    Significant Features of SBI Home Loans:

    • Lower interest rates as compared to other contemporary banks
    • Low processing fees
    • No hidden charges or administration fees
    • Nil pre-closure charges making repayment easier and more flexible
    • A huge network of branches across the nation making it convenient to visit a SBI branch
    • Exclusive packages depending upon individual needs of customers
    • Interest is calculated on daily reducing basis which lowers the overall interest paid

    Documents required applicable to all loan seekers:

    • Duly filled loan application
    • 3 passport-size photographs
    • Identity Proof (Voter ID Card/Passport/Driving License/Pan Card)
    • Proof of Residence (Current Address Proof)
    • Bank Statement for last 6 months
    • Personal assets and liabilities declaration
    • Proof of property
    • Income Tax Proofs (If required)
    • Signature Identification from present banker

    Documents required for Guarantor:

    • Assets and liabilities Statement
    • 2 passport-size photographs
    • Identity Proof
    • Address Proof
    • Signature Identification from present banker

    FAQ Section:

    Frequently asked questions about SBI Home Loan.


    How can I decide which SBI home loan fits my requirement?

    BankBazaar gives you the option of comparing home loan schemes and an online EMI calculator to help you plan your finances well in advance before availing a home loan.


    What are the various interest rates offered on home loans?

    Interest rates vary with respect to their floating or fixed nature. Generally, foating home loan rates vary between 9.85% to 9.90% and fixed vary from 10.25-40%. This also depends upon the lender bank. SBI offers floating interest rates between 9.85% to 9.90% per annum.


    What is the processing fee charged by SBI for home loans?

    SBI charges a low processing fee for its home loans. 0.25% of the loan amount is charged. The amount can be anywhere between Rs.1,000 to Rs.10,000.


    Can I pay off my SBI home loan earlier than the initial tenure?

    Yes. You can pay off your SBI home loan earlier too, without a pre-payment penalty fee.


    Is there any security required for the SBI home loan?

    Usually, the property that is purchased using the loan serves as the security. In some cases it is at bank’s discretion to ask for additional securities like insurance policies, fixed deposits etc.


    Is a guarantor required to sign my loan application?

    Yes. A guarantor with all the valid and required documents need to sign your loan application.


    What kind of job makes me eligible for SBI home loan?

    You can either be a salaried employee or self-employed for obtaining this loan. However, the only condition is that you should be earning a regular income and should be able to furnish proofs of the same.


    Can joint-applications be made for SBI Home Loans?

    Yes. Joint applicants are welcome at SBI.


    Are there any tax benefits associated with SBI home loan?

    Yes. Tax rebate under section 80C of the Income Tax Act is applicable.


    Are long-term home loans beneficial or short-term loans?

    Long-term loans are beneficial in giving you the option and comfort of lower EMIs, however, short-term loans mean higher EMIs but lesser interest. A borrower can choose the option depending upon his financial status.


    How long does it take for my loan to get sanctioned?

    If all the required documents are in place then your SBI home loan can be sanctioned in a few days.


    Where can I apply for SBI home loan?

    With a network of over 17000 branches in India, SBI home loans can be applied at any of your nearest bank branch.

    News About SBI Home Loan

    • Home Loan referral being incentivized by SBI

      The State Bank of India has introduced a new referral policy to increase its home loan customer base and also motivate the employees at the same time. By changing the structure of its HR policy, the State Bank of India (SBI) is looking forward to improve its productivity. The employees can now earn gift cards worth 16000 INR or travel abroad as incentives for referring home loan customers to the bank.

      The State bank of India has 2.13 lakh employees including several officers and other clerical staff. This particular scheme is available to all the employees of SBI, irrespective of their ranks. In order to be eligible for incentives under this scheme, an employee does not have to provide any other service other than referring the borrower to the bank. The loan processing fee is also waived for the borrower who are referred under this scheme.

      30th June 2015

    • SBI Scraps Processing Fee for Switching Home Loans

      Home owners in something to cheer about as the State Bank of India, the largest public sector bank in the country, has scrapped the processing fee for switching home loans. Now, people with existing home loans from other lenders can easily shift their loan to SBI and they will not be required to pay any processing fee. The bank has taken this step to strengthen its position as one of the top retail lenders in India. A representative of the bank has stated that SBI wants to offer its customers with the best in terms of charges and rates.

      Apart from waiving the processing fee for switching home loans, the State Bank of India has also waived pre-penalty on home loans as per the guidelines issued by the Reserve Bank of India. SBI offers very attractive interest rates on home loans, in comparison to other lenders in this sector.

      24th June 2015

    • RBI could cut repo rates further if monsoon continues current progress

      At the golden jubilee celebration of All India State Bank Officers’ Federation, SBI Chief Arundhati Bhattacharya said the RBI will have more room to cut repo rate if inflation is kept under control and the monsoon continues to progress at the current pace.

      With the economy facing a low credit growth last fiscal, the RBI is encouraging the home loan sector by cutting rates to create a ripple effect through the rest of the economy. The reduction in repo rates this monsoon could result in benefits that will multiply through the whole infrastructure.

      State Bank of India has already cut its base rate by a cumulative 0.30 per cent in two moves over the last quarter following RBI’s repo cuts of 0.75 per cent. Bhattacharya said that further reduction would depend on “several other things”.

      SBI Bank is trying to increase its market share by offering a waiver on processing fees if a customer shifts their home loan to SBI. Bhattacharya said they are expecting a good response on this offer.

      16th June 2015

    • SBI Cuts Base Rate by 15 Basis Points- At 9.70%, Home Loans Get Cheaper

      India’s biggest public sector bank, the State Bank of India (SBI), was quick to slash its base interest rate by 0.15% after India’s apex bank, the Reserve Bank of India (RBI) affected a similar cut of 0.25% in its repo rate. The updated base rate from SBI stands at 9.70% and the same will be effective from June 8, 2015. RBI’s repo rate cuts since Jan 2015 amount to 75 basis points and have arrived in three instalments of 0.25% cuts each. In response to the same, SBI has slashed 30 basis points that arrived in two installments, and was one of the first banks to initiate this after RBI’s surprising moves. State Bank chairperson Arundhati Bhattacharya has come out in support of RBI’s rate cuts and hopes that the same will transpire into more growth opportunities and creation of more jobs across the country. To start with however, auto and home loans are set to get cheaper.

      4th June 2015

    • SBI Home Loan Disbursal in Just
      10 Days

      State Bank of India is throwing all its weight behind improving customer experience in the home loan segment. The largest bank in India is contemplating on cutting down home loan disbursal time frame from 17 days to 10 days in the next 6 months in a phased manner. The turnaround time for disbursal was about 31 days last year.

      In order to fulfil the cut in disbursal time, SBI has streamlined key processes like pre approving housing projects which will directly impact the disbursal time frame. It will also be unifying sales and marketing teams under a single roof to ensure better coordination.

      During FY-2015, the bank had disbursed housing loans worth Rs.50,000 crore. In the current fiscal, SBI is looking at a growth of 10-15 percent in this segment.

      4th May 2015

    • SBI Makes a Killing in Bengal- Home Loans Disbursal Hikes by 50%

      The recently ended fiscal year seems to have been a good one for the State Bank of India, especially for its Bengal circle. According to reports, SBI’s Bengal circle recorded a whopping 50% rise in home loan disbursement in the fiscal year 2014-2015 and touched a figure of Rs 2,100 crore. Not only that, SBI also successfully brought down its loan processing time from 31 days to only 17 days. For the ongoing fiscal year, the bank is aiming for similar growth and targeting to take the home loan disbursal figure up to Rs 3,000 crore and further reduce the processing time for home loans to a mere 10 days! Reflecting on this update, CREDAI, the apex body of realtors, has predicted a 10% to 12% increase in the housing sector in Bengal due to a rise in input cost.

      21st April 2015

    • State Bank of India announces a reduction in its home loan interest rates.

      India’s largest public sector bank, State Bank of India has made a drastic cut in home loan interest rates by 25 basis points, offering one of the lowest rates in the affordable housing segment. Specific to women, SBI has launched a home loan scheme with an interest rate of 9.85%. Other borrowers can get SBI home loans at an interest rate of 9.90% per annum. Effective on SBI home loans sanctioned on or after April 13, this move comes after the RBI Governor pushed Indian banks to take advantage of the two repo rate cuts done earlier this year.

      The "Her GHAR" scheme targeted towards women borrowers requires them to be the sole applicant or the first of the co-applicants and also the sole owner or the first co-owner of the property financed. For example, after applying the new interest rates the revised EMI for a loan tenure of 30 years will be Rs 867 per lakh for women and Rs 871 per lakh for other borrowers.

      16th April 2015

    • SBI Offers Special Deals on Loans to Pre-Existing Home Loan Customers

      State Bank of India, India’s biggest lender by assets, has offered a jackpot to its existing home-loan customers. SBI’s home loan borrowers can now avail a personal loan or a top-up loan at the same interest rate as home loan. This limited period offer from the nation’s top home loan lender will be a benison for all the existing SBI home loan borrowers.


      As an added advantage, an existing home loan customer can clinch a personal loan at an interest rate of just 10.15%. For women, personal loans will be even affordable at 10.10% interest rate. The only condition to secure this special offer is that the customer must have been paying all his home loan EMIs on time.


      Don’t have a SBI home loan? No worries – With BankBazaar.com, you can check out other awesome home loans deals and also use the EMI calculator to see what fits your budget.

      17th March 2015

    • SBI Suggests Tax Benefit Schemes for Home Loans Ahead of the Union Budget

      State Bank of India (SBI), country’s largest lender when it comes to home loans, wants the upper limit for tax subsidy to be increased from Rs.15 lakhs to Rs.25 lakhs. SBI has also suggested higher tax benefits for home loans in order to target “Housing for All” by 2022.


      In its wish list for the budget, SBI also wants statutory deduction for stamp duty and registration charges while computing income tax. For recovery of principal component of home loan, SBI has also suggested that the government provide additional deduction of Rs.50,000 above the current limit of Rs.1.5 lakhs. SBI wants the cost of the house to be increased from Rs.25 lakhs to Rs.30 lakhs to be eligible for subvention in the metros. SBI also stressed on the fact that the government should seriously consider bringing housing loan for first-time applicants under overall priority sector ambit. It is worth noting that SBI’s loan book has showed a growth of 13% year-on-year.

      2nd March 2015

    • SBI beats private competitors;biggest distributor of Home Loans in the country!

      State Bank of India has become the largest player in retail banking with current sanctions of over 800 home loans every day with average sanctions of Rs.150 crores daily.


      The total Home loan outstanding grew by about 4403 crores from the first quarter of financial year 2014-2015 to the third penultimate quarter. The racy pick-up in home loan product has also come as a result of 1405 residential projects where SBI has obtained single title clearance.


      Second in the race of home loan sanctions is, the private player HDFC with loans amounting to Rs.145300 crore in the last quarter. This is closely followed by LIC Housing Finance with Rs.95310 crore as home loan outstanding as against Rs.79255 crores for ICICI, the fourth largest player in the home finance segment.


      The competition is tough and cut-throat because of similar rates offered by all the top banks. The rate offered by these banks is 10.15% for general and 10.10% for women. Sensing the close competition, SBI has deployed more workforce to popularize its home loans.


      As per a study, mortgage penetration in the country is still a meagre 9% of the national GDP as compared to a high 81% and 69% in the UK and the US. This leaves a huge untapped demand that can be leveraged by SBI with its wide network of branches.


      5th February 2015

    • SBI to Enlist Ex-Employees to Monitor Loans

      India’s largest public sector bank, the State Bank of India (SBI), is in talks with ex-employees who recently retired from the bank to draw on their expertise to monitor loan accounts and train existing employees. These ex-employees will be recruited on a contract-basis for short periods of time.


      The expected outcome of this move is to improve the quality of credit, reduce deviations and positively influence skills of existing/new employees.


      This move comes in the wake of increased emphasis on compliance and quality asset creation as well as tougher competition from peers in the private sector.


      As a result of these initiatives, the bank hopes to see a positive impact on its loan business. SBI hopes to improve home loan sales by channeling its products across all its network branches, even beyond its banking vertical.


      To this effect, SBI will source home loan customers through its other verticals as well such as insurance and mutual funds.

      8th January 2015

    • SBI Home Loans See Good Numbers

      The State Bank of India’s recent move to waive processing fees as part of its festive offer has proved beneficial. The country’s largest lender saw a rise in home loan numbers and is expecting a further increase. It hopes to achieve disbursals in the range of Rs.200 crores per day.


      While this may be an optimistic number, it may soon become a reality considering that this PSU bank’s current home loan disbursals are at Rs.188 crores per day. This represents a 14% year-on-year growth.


      A majority of business is coming in from loan categories below Rs.50 lakhs.This has underscored the need for the bank to focus on higher value loans which will increase profitability, particularly the over Rs.75 lakh category.


      This increase in retail loan disbursals spells good news for credit growth numbers for the bank given the lows the banking sector has been facing in recent times. Banks have been trying to boost sales on retail loans in a bid to shadow the poor credit uptake from the corporate segment. Home and auto loans make up a large part of most banks’ retail lending portfolio.

      27th October 2014

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    SBI Home Loan Reviews

    85 % of our customers would recommend this bank. (230 out of 270) Write Review
    Customer Reviews
    Page 1 of 14 1 2 3 4 5
    • Validated User
      (0)

      I would say it was a very good experience with SBI Bank while I got this Home Loan.The customer service provided was really good.The interest rate offered was around 10.25% which is a lesser rate compared to other banks.I got this loan with SBI because the Eligible amount offered was very high with which I was satisfied.

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      selva took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (1)

      I am holding a housing loan with SBI. The rate of interest offered by them was very competitive. I have been asked to take insurance on this loan which is compulsory. I have been holding this SBI housing loan for about 3 years now. Soon after RBI slashed the rate they have reduced the interest rate. They do this automatically.

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      avijit took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (0)

      The best part about SBI Bank is the rate of interest charges was very less for the home loan. They normally ask for many documents when compared to other banks and also they take much time to disburse the loan. The verification part is very good and so there is an additional feature of max gain facility with SBI bank.

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      jaswinder took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (0)

      My experience with SBI Bank was excellent for the home loan. The processing of the loan was very fast and it took only a week time for the loan to get disbursed. I am very much satisfied with the service and also the documentation process was very simple.

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      vijay took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (2)

      I got the home loan with State Bank of India.The things whih makes me to go ahead with them is because of the less interest rate, processing charges,fast processing.The loan got sanctioned on that time because I submitted the documents very clearly.

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      prafull took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (0)

      I got the home loan with State Bank of India.The rate of interest was around 8.75% and am happy with that.The service part is really better for me.The processing charges are very less.Within a months the loan got fully processed.

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      senthil took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Good
      https://cdn1.bankbazaar.com/images/customer_review/default-unknown-person.png
      , bangalore
      Recommend Recommended by user
      Validated User
      (2)

      I have approached SBI bank for the same housing loan. SBI was ready to fund for that property. However builder does not have the required documents for that particular property. Moro ever there is one existing loan on that particular property which has to be cleared first only then I can take a fresh loan.

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      sudhir took a Home Loan from STATE BANK OF INDIA Reviewed on
    • (4)

      This particular branch is clueless about its procedures & its chief manager is arguably the most arrogant person i have met in the last few years. Not recommended for affluent & well-to-do people for whom quality of service matters as much as interest rates & charges. Also, bankbazaar has somewhere in its website mentioned SBI as world's largest bank which it obviously isnt. Bankbazaar should stop stating unverified facts on its website.

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      snap took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (3)

      I had a very good experience with SBI while I got this home loan even they have taken long time but it was pre informed about the loan status which is good.The interest rate offered was less due to some offer provided and it was a floating rate as well.I will surely recommend this Bank to others for a loan process.

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      subhasis took a Home Loan from STATE BANK OF INDIA Reviewed on
    • Validated User
      (0)

      If we have clear documents only we can take loan from SBI bank.My housing loan was disbursed in one month after submitting all the documents. Floating interest rate was offered which was 9.75% in the starting and now it has been increased. Processing fee charged was Rs.2000. The application follow up was done by myself there were no calls from the bank. Only government servant and the salary high people can apply the loan easily. from SBI bank.

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      uttam took a Home Loan from STATE BANK OF INDIA Reviewed on
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      I am having the home loan with SBI.The rate of interest is around 9.95% and its floating and the services are really good.They are really stick to their commitments.It will take some time to process the loan but its really good.

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      rajiblochan took a Home Loan from STATE BANK OF INDIA Reviewed on
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      I totally agree with you â?¦ SBI is the best when it comes to home loan. I am a satisfied customer of SBI. Also, I got a loan at 7.75% fixed for 20 years in 2005 Ugadi â?? at that time, pvt mnc banks were offering fancy products at 6% interest floating with linked savings account and such. My colleagues and friends declared me insane for having gone to a public sector bank. I had the last laugh

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      ramesh took a Home Loan from STATE BANK OF INDIA Reviewed on
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      From SBI bank i took the housing loan which was disbursed within 15 days.Documentation was easy as submitted only the house plan and the reregistration proof. The process was completed within half hr. Interest rate offered was 9.75% with 0% processing fee. In case if we missed the EMI for one month we can pay it next month also.

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      phanishankar took a Home Loan from STATE BANK OF INDIA Reviewed on
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      SBI Housing loan process is good as it is a Government authorized one and they have to wait for a long time. The only concern was it was time consuming and they took around 1.5 months. Rate of interest offered by them was high and even if RBI slashes the rate they wont reduce it until we approach them for the same.

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      ramkumar took a Home Loan from STATE BANK OF INDIA Reviewed on
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      I am having the home loan with State Bank of India.The rate of interest is really okay for me with them.Overall I can say that their services are really fantastic.I am paying around 17k rupees per month as emi.The total tenure is 17 years for this loan.

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      suman took a Home Loan from STATE BANK OF INDIA Reviewed on
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      I took home loan in SBI. The processing time was really fast. Once my documents were collected very next day my loan got approved and by end of the day got my loan amount credited to my account. I availed this loan without any hassles. I am okay with the interest rates and charges applied. The only suggestion is, when ever I go to the bank to make any transaction I had to wait in queue for long time, so this has to be taken care.

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      mallikarjun took a Home Loan from STATE BANK OF INDIA Reviewed on
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      I took my home loan with SBI and the whole process was slow for this loan. I got the loan on an interest rate of 10.25%. They need to improve a lot on their services to their customers. They need to be more responsive and fast.

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      vino took a Home Loan from STATE BANK OF INDIA Reviewed on
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      The service provided by SBI was good while getting a home loan.The customer service was kind of poor since its a government Bank.They offered a less rate of interest and the loan process was really quick and I am happy about the same. I will recommend this Bank for home loan process.

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      vivek took a Home Loan from STATE BANK OF INDIA Reviewed on
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      Home loan interest rate in SBI is very low and it is best because I got it done for 10%, which is of floating rate. Paper works were maximum and they collected twice the papers. I cleared all my way but there was some delay from SBI so entire process got delayed. Processing charge is minimum.

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      kishan took a Home Loan from STATE BANK OF INDIA Reviewed on
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      I got the housing loan with State Bank of India bank for the rate of interest as 13%.The processing time is so long and it took around a month because there was the delay in the documentation process.The total tenure is 14 years.I am happy with them till now.

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      jeyavel took a Home Loan from STATE BANK OF INDIA Reviewed on
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