SBI Home Loan

SBI Home Loan
 3.5 / 5.0   by 40 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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03
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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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02
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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 29 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

98 % of our customers would recommend this bank. (39 out of 40) Write Review
Customer Reviews
Page 1 of 2 1 2
  • Validated User
    (0)

    It is good and somewhat better. What i felt was initially, they do charge a lot for processing and at later they cancel the loan if not eligible and the amount is not refunded. The processing and documentation was too long and the verification part was tedious. Interest rate was good and the executive was 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
  • Fantastic experience
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    SANJEEV R KULKARNI, bangalore
    Recommend Recommended by user
    Validated User
    (2)

    Initially, i was not interested to go with State bank of India as the process all would be slower but later then based on people's advice, i approached this bank for my home loan. The experience was totally different and i would say its fantastic. I was given a form, then submitted the documents and by 24th day i got my loan. The cost of taking the loan from this bank is also slower.

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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Excellent experience
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    DEBA BANERJEE ARUN, bangalore
    Recommend Recommended by user
    Validated User
    (2)

    Last month I have received my home loan amount from SBI. It was overall a great experience of availing the home loan. Everything was smooth like documentation was much faster however the processing was little delayed upto 2 months due to some clarification in the documents. Rate of interest was fine.

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

    I am serving in Central Government and a customer of State Bank of India since 1993. More of the staff of SBI ready to serve the customer always with smiling face, very good interest rates,I fully satisfied with the bank and I am very proud to say I am a customer of SBI- Thank u

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    Fees & Charges
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    took a Home Loan from STATE BANK OF INDIA 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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    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
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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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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Very good service from SBI
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    VENKATA NAGENDRA PRASAD ATLURI, bangalore
    Recommend Recommended by user
    Validated User
    (2)

    I had a awesome experience with SBI home loan it took about hardly say one and half month for the loan to get approved and for the loan amount to get disbursed and there was no challenge with the interest rate and processing fee as everthing was perfect.

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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)

    SBI HL Process was good and customer service was perfect approval process took just 4 days only everything is perfect fully satisfied with service and response best thing is SBI staff came home and did all the formalities and approved the 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
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    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
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    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
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    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
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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Excellent
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    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
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    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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    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
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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
Customer Reviews
Page 1 of 2 1 2
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