SBI Home Loan

SBI Home Loan
 4.0 / 5.0   by 164 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 20 Dec 2014

SBI Home Loan Details
Interest Rate (Floating) For women - 10.10%
For others - 10.15%
Processing Fees Nil upto 31-12-14
Loan Tenure 30 years
Pre-closure Charges Nil

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News about SBI Home Loan

  • 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


SBI Home Loan Reviews

88 % of our customers would recommend this bank. (145 out of 164) Write Review
Customer Reviews
Page 1 of 9 1 2 3 4 5
  • Validated User
    (0)

    Service was not upto the mark in state bank of india. Customer service was not good .Response was not upto the mark. Whatever they have promised they are not doing it. They actually provided very lower interest rate for my home loan. Once the loan disbursal done then only they are highlighting the hidden rates. Even online facility is also not good. They say we have to have Online account with SBI savings account compulsory to view online statement.

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

    I would say state bank of india was hassle free bank . I got one home loan with quite reasonable interest rate among all other banks. They are the only bank with less norms and conditions. Customer service was very good. They are very helpful. I am quite satisfied by their services .

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    soumya took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Not good
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    , thiruvananthapuram
    Recommend Recommended by user
    Validated User
    (0)

    The reason why I have rated SBI Housing loan as 1 is because, they are not all flexible, they are not approachable. The rate of interest charged by them is 11.90% and I have raised a complaint about the rates. I have raised multiple request its still the same and finally I gave up. Finally, I have planned to do a balance transfer from SBI and I ended up moving the loan from HDFC LTD to SBI.

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

    I have taken a housing loan with SBI, although the sales part was not good and I have to visit branch couple of times unlike private banks where they get everything done at my home, after sales services were excellent. They have given detail about the terms and conditions and there were no hidden charges. After signing the agreement every thing went on well. Post sales especially, the servicing part was really good as they were able to provide each and every information what I require.They provided lowest interest rate, Icing on cake was they provided maxGain facility (I can deposit and withdraw additional cash on the account and won't pay any interest on the extra amount in the amount) without any additional interest. In other banks there are two interest rates a) one for normal loan b) a slightly higher rate for max gain account.

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

    The home loan I have with State Bank of India is really good. I am having this loan for more than a year now. The rate of interest an processing fees they provided was reasonable. The took around 32 to 33 days for processing the loan which should be reduced. There are no preclosure cahrges for the loan and it was informed that only the initial 6 months there will be charges post which there are no charges for the same.

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    souvik took a Home Loan from STATE BANK OF INDIA Reviewed on
  • (2)

    In Bhimavaram (Branch code 00818)All staff including the manager taking 2% commission on loan amount. Otherwise they are delaying to loan process. This is the worst branch, please do not go to this branch for Loan. In SBI one more draw back we do not have any escalation process in this type of cases.

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    worst took a Home Loan from STATE BANK OF INDIA Reviewed on
  • (0)

    i applied the housing loan around 3 months back and my CBIL score is 850. still they are porcessing my loan as i chosen the worst executive name kiran. and the AGM chavala he is also worst.. and he is convincing the customer by saying left the past.. be aware of that fellow kiran and banswadi RACPC branch..

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

    From the date when I submitted home loan application with SBI, in 25 days they disbursed my loan amount. According to me the process was lengthy because other private sectors are taking only 15 days to disburse the loan amount thus SBI could process the loan in short period of time. The rate of interest is bit high as they charged 10.15% but it is fine. Customer support is satisfactory.

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

    I did apply with State bank of India for home loan however I was not able to avail it. Interest rate is lesser which is the best. Not only this, home loan terms and conditions are also good.Everything was absolutely perfect however if I would got the loan, it would be so good.

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

    The home loan disbursal was so easier as the documentation process was simple and I was able to submit all documents whatever State bank of India customer service executive had requested for. The processing was so faster where within 12-15 days, got the loan. Overall happy with them.

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

    Even my home loan application was submitted with State bank of India, however had not continued further as I haven't gone to Portblair. As of now, I had managed to arrange the documents and once its done, would go further. I feel there would be a flexibility in availing the loan amount(eligibility) which is helpful.

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    rajesh took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    Offers and the interest rate provided by State bank of India for home loan is lesser than other banks. The processing time is faster compared with other banks. Partial payment option is provided and even there is no charges which is quite good. There was a waive off charges which was helpful and 10.10% is the interest rate.

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    sandipan took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    State bank of India did offer special interest for women borrowers and for senior citizens in terms of home loan. They did gave me the opportunity of availing home loan, however as the property had not been finalized, I was not able to avail the offer which made me disappointed. However, the services overall is fine.

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

    I recently availed a home loan from SBI. I have searched a lot and felt that taking loan from a nationalized bank is more profitable than private banks. Private banks offer loan taking a lump sum interest when itâ??s repaid. However with nationalized banks, the rate of interest will be reduced as we re-pay the loan. They sanctioned my loan within 18 days of time at a floating rate of interest around 10.2% charging me a very minimal processing fee.

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

    I got my home loan sanctioned from SBI within 10 days of time in the beginning of this month. SBI is a government authorized bank and the customer service is not upto the mark. End of the day I got my sanctioned on time. They are more rigorous in verifying the documents than private banks. I am overall unhappy about my experience except the rate of interest, fees & charges.

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    siddharth took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    It was a great experience of availing a home loan from SBI in the year 2007.The processing was little bit slower however there was no hassle at all. There were two different loans disbursed. One for the open property and the other one for the construction of the property. After one month of processing they disbursed my loan at a rate of interest around 10 to 11%.

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

    My home loan got approved by SBI a week before and I got the sanction letter as well. It was overall a good customer service and response from SBI. The processing was completed within 3 to 4 days of time and they offered me an interest rate of 10.10%. I still didnâ??t get a complete info regarding the processing fee & charges.

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

    I have no issues with SBI regarding my home loan application and I am happy that they disbursed my loan within 10 to 15 days. They also offered me a very good interest rate of around 10.15%. The overall customer service was good and I guess the rate of interest is similar to the market rate.

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    ranjit took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (2)

    I have taken a home loan from SBI in the beginning of this month. It was a great experience to me and I got the expected loan amount from SBI. The processing speed was average and they disbursed my loan within 3 weeks of time. The rate of interest offered by SBI was 10.15% which is comparatively low.

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    isan took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    The former part was very difficult, I had a tough time in opening this SBI Housing loan account . They asked for many documents and they were very rigid with the terms and conditions. Later part was fine, the most promising feature of this account was the interest rate which is the least in the market and adding up to this there is no additional or hidden cost which is being charged.

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    pandit took a Home Loan from STATE BANK OF INDIA Reviewed on
Customer Reviews
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