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SBI Home Loan Ratings
3.5 / 5.0 by 17 users

Fees & Charges

Promised Interest Rate

Customer Service

Responsiveness

SBI Home Loan Reviews

"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...................... "

Parag Sharma, Lucknow
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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.
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  • 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.
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SBI Home Loan Overview

SBI 3.5 / 5.0 by 17 users     Used this product? Write a review »
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 23 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

  • All about home improvement loans!
    Most people who buy a home through a home loan are often left with little cash to carry out any further improvements in the house as per their requirements. Some opt for personal loans in order to make good this requirement.
  • Essentials before you take a home loan!
    Every financial institution which deals in home loans has a specified set of requirements which are to be met by a borrower. When a borrower is found to be eligible for the loan, only then he is granted the amount applied for.
  • Home loan document checklist for self-employed!
    Getting a home loan approval can be a long and tiresome process especially if you are a self-employed professional or business owner. This is because many banks doubt business men for job continuity, as they are free to quit their jobs at any time. 
  • Have more questions on loans? Ask us now!
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Home Loan Forum

Comments: 97    Views:      September 26

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Comments: 1    Views: 1     December 16

SBI  Home Loan Reviews
100 % of our customers would recommend this bank. (17 out of 17) Write Review
Customer Reviews
Page 1 of 1 1
  • Good service
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    PARAG SHARMA, lucknow
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    (2)

    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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    Promised Interest Rate
    Fees & Charges
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    Responsiveness
    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Slow Process But Good Service
    /images/customer_review/default-unknown-person.png
    SIB SANKAR DEY, bangalore
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    3.5/5
    (5)

    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
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Avoid selling Insurance
    /images/customer_review/default-unknown-person.png
    RIYAZ SHAIKH, pune
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    (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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    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Good for online transactions
    /images/customer_review/default-unknown-person.png
    SATHISH S, chennai
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    5.0/5
    (0)

    SBI is very good for doing online transactions especially fund transfer. Their online portal is very secured and they send one time password every time whenever i do a fund transfer which is really good and safe. I have my saving account in SBI and transfer funds between SBI accounts are also easy and credit happens immediately. Whatever services they are providing are fine and customer service is normal.

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    Promised Interest Rate
    Fees & Charges
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Awesome Service
    /images/customer_review/default-unknown-person.png
    MIRZA ARSHAD BAIG, nasik
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    5.0/5
    (1)

    I like State Bank of India for their atm facility and Rate of interest.Their documentation process was fine,even they are good in terms of benefits like 'green channel' its quite helpful instead of filling the form we can use this option for depositing money,account opening in online etc.....

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Good experiance at SBI
    /images/customer_review/default-unknown-person.png
    MIRZA ARSHAD BAIG, nasik
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    (1)

    State Bank of India credit card was good in terms of online shopping and their portal was easy to access with all relevant information.I chose SBI because of their lower rate of interest,emi option,etc... but i would suggest them to work on their customer service apart from that everything was quite ok.

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Lot Of Benefits available
    /images/customer_review/default-unknown-person.png
    BHUSHAN DESHPANDE, nagpur
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    (0)

    I received good response from State Bank Of India, particularly audit of documents was correctly done and documents list shared pretty well in advance to me so the documentation process was very simple. Specialties of SBI are they have no processing fees & no pre-closure charges and my loan was processed at floating rate and was able to get the disbursement within 48 hours. SBI branch staffs were good and co-operated well for mu loan process.

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    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Improvisation on their service
    /images/customer_review/default-unknown-person.png
    VIJAY U, surat
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    (1)

    I choose State Bank Of India because of their lowest rate of interest,but am pretty upset the way they respond customer and they have collected my document twice and processed home loan on a delayed manner otherwise am happy about their rate of interest and charges when compared with other bank in the market.

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • Good benefits
    /images/customer_review/default-unknown-person.png
    DHARMVEER VISHWAKARMA , kolkata
    Yes, I recommend this bank.
    STATE BANK OF INDIA Home Loan
    4.0/5
    (0)

    I use SBI Bank credit card at times of emergencies only. Features given by them are not almost like other banks and the best feature is the balance transfer & cash withdrawal option as the rate of interest charged is less.SBI's online services are good and the site is secured .Overall transacting with SBI is fine

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    Promised Interest Rate
    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA Reviewed on
  • 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
    (1)

    "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.

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA 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
    (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.

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA 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
    (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.

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    Fees & Charges
    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA 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
    (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

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    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA 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
    (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

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    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA 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
    (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

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    Fees & Charges
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    Responsiveness
    took a Home Loan from STATE BANK OF INDIA 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
    (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

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA 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
    (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.

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    Promised Interest Rate
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    took a Home Loan from STATE BANK OF INDIA Reviewed on
Customer Reviews
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