SBI Home Loan

SBI Home Loan
 4.0 / 5.0   by 110 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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02
03
04
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

01
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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02
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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 Sep 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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News about SBI Home Loan


SBI Home Loan Reviews

94 % of our customers would recommend this bank. (103 out of 110) Write Review
Customer Reviews
Page 1 of 6 1 2 3 4 5
  • Validated User
    (0)

    I would say it was a hassle free process when i applied for the housing loan with State Bank of India. The processing and the documentation was very simple and transparent.The customer service executive were helping me in updating me status of the loan till my loan got disbursed. I got the whole process completed 15 days.

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

    I approached State bank of India as they offer lower and best interest rate. I opted for loan transfer, where one day the particular executive collected all documents and within 20 days, everything was done. 10% was the interest rate offered and 5000 as processing fees. Just for my convenient part, I approached State bank of India.

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

    I have an account with SBI and I had availed a home loan last month. The main thing I liked with SBI is the re-payment option. The processing was much faster and completed within 3 weeks of time. My loan was disbursed at a rate of interest of 10.15%. I feel the interest rate is quite similar to other banks as well.

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

    State Bank of India housing loan the process was very simple and it was transparent. The customer service executive took the initiative in updating me on the loan status and unfortunately i forgot the name of the executive who was helping through out the process till the loan amount got disbursed.

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

    The processing of housing loan with the State Bank of India i would say it was a hassle free process. There are very minimum documentation required and the customer service executive took the initiative in getting the loan approved. I got the whole process completed with in twenty days.

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

    In the year 2007 I had availed a home loan from SBI. It was more of paperwork and more documents were requested than private banks. It almost took a month time to complete the documentation process and finally they disbursed my loan within a week. The rate of interest was very good. Apart from documentation I had no other difficulty in availing the loan because I was working for SBI mutual and they did not charge me any processing fee at all.

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

    SBI Home loan its good but i have to follow them a lot to get loan approval, for submitting documents i need to visit the bank many times, apart from that everything is fine, loan procedure was fast documentation part was very bit lengthy. they charged 13000/- for processing fee and service tax. Interest rate was 10.15% when compare to other banks its less. I would suggest the documentation part should be done in 1 attempt.

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

    State Bank of India housing loan the process was very simple and the executive gave me a check list of what all documents are required to process the loan and gave me ample time to collect the documents. The whole process got completed in twenty days.

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

    It is the number one service provider SBI provides excellent service, the rate of interest offered by SBI for the housing loan is very less, when compared with other Banks. Its quite transparent, there is no hidden cost added documentation procedure is very simple to conclude its the best bank for housing loan.

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

    SBI Home loan service is really good, I am planning to take a housing loan through SBI only. Its very transparent, there is no hidden cost. I am happy with the interest rate what SBI has offered me. I am unable to comment more about SBI as I have not availed a loan through them. Overall its a good one.

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

    Last month I have opted for the home loan from SBI. I had directly visited the nearest branch of SBI branch and talked to the chief manager about my loan requirement. Everything was readily available hence the documentation process was completed on the same day. After 15 days of processing they disbursed my loan at a rate of interest of just 10.15%. I feel SBI is more like private banks and their services are much better.

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

    i took house loan for for my own house .i am very when i met sbi bank manager. he support well and he gave all information about house loan.we gave some security also. it was nice services i experienced. sbi employees were serviced well.so i recommend sbi for home loan

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

    State bank of India is very faster in processing my home loan. Once I submitted the documents, within 5 days they had sanctioned the loan. It was 8.5% floating which is less without no processing fees. It was totally good and faster services.

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

    It is a satisfactory service with State bank of India in terms of home loan. I did receive a good response and good service from them. There was a proper communication about the loan processing. Initially, my thought was being a public sector bank, response would be slower but it is a faster response I received. It is a quite less interest rate of around 9.25%. And also the person who helped me in documentation is great and wanted to appreciate him.

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

    SBI Home loan is excellent, they have given me the least rate of interest which is 9% which is very low, when compared with other Banks, Their repayment schedule is very good, whenever we want we can make a payment. My only suggestion, they should provide excellent customer service.

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

    SBI housing loan: The experience was good and the response of the customer care executive was excellent. The rate of interest was less when compared with other banks. There was too much of documentation that was little disappointing. The whole process got completed with in two to three weeks.

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

    It was little hassle for me to avail a home loan from SBI as they are not flexible like other private banks, however their processing speed was very fast. The rate of interest & processing fee are in control and comparatively very less. They also gave me a good offer & discount on the rate of interest which really attracted me & proceed with SBI.

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

    Compared to ICICI bank, i feel good and better with State bank of India home loan services. I got immediate response from them. Interest rate is 10.15% with 17000 as processing fees. Whatever been offered by this bank, it is good to go. Overall my experience is excellent.

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

    My feedback about SBI home loan, would they have given me the best deal. My only concern, is they ask for too many documents, it would be great if they ask for minimal documents or the one which is required. SBI, should avoid unnecessary delay, as its time consuming process and overall its a moderate experience.

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

    My experience of availing a home loan from SBI was very good. When I went for purchasing the property the builder had a tie up with SBI and it was very easy for me to avail the home loan from SBI. All my documents were collected by an executive who came to my office and my loan was disbursed within 15 days of time.

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    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
Customer Reviews
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