SBI Home Loan

SBI Home Loan
 4.0 / 5.0   by 156 users
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Fees & Charges

Promised Interest Rate

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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 27 Nov 2014

SBI Home Loan Details
Interest Rate (Floating) For women - 10.10%
For others - 10.15%
Processing Fees 0.25% of loan amount with Rs.1,000 to Rs.10,000
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

91 % of our customers would recommend this bank. (142 out of 156) Write Review
Customer Reviews
Page 1 of 8 1 2 3 4 5
  • 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
    (1)

    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
  • Validated User
    (2)

    Within 3-4 days, I had got the home loan from State bank of India. One of my friend is working in this bank, which made the process so easier. Processing fees was 5000 with 10.10% as the interest rate. There is a flexibility in repaying the home loan.

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

    I would say rate of interest and other charges are special features in SBI. If I compare with private banks, SBI is offering less rate. I have submitted only selected documents as they did not ask for several documents for home loan process. I went branch to complete all formalities and the executives also cooperated well. There was some issue during the process so SBI took a month to disburse my loan amount else they would have been disbursed in 15 days.

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

    I am very much happy about their services from state bank of India for my home loan application. They offered me very reasonable interest rate with relevant documentation. The best part was they are very responsive whenever I am asking any kind of queries.

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

    My home loan was approved by State bank of India as the builder had a contract and it was quite easier processing went through. Rate of interest is quite reasonable. However, in terms of documentation, I did face few issues which was a hard time. There was a miscommunication in terms of processing fees which was later charged higher. I would suggest in such cases, either email or phone conversation must happen in a proper manner.

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

    I have got one home loan from state bank of india where they offered me very less rate of interest . It would be nice if they speed up the process in terms of documentation. The best part was they will not increase the rate of interest even if their norms are has been revised.

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

    Its good to have one account relationship with state bank of india . Based upon that I have selected them for my home loan. Earlier I heared that they are slow in their documentation part . I was surprised to see the drastic improvement nowadays. Its looking like other private banks now. Documentation was very quick when I submitted my application. Rate of interest quite equal when compared to other banks.

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

    The most exciting part about SBI Home loan is the interest rate, nothing else. As I am a existing customer of SBI and I am paying installments every month and I only used to get SMS for the debit transaction. All of a sudden, they inc erased my EMI amount to rs 1000 , I have no idea why they have deducted more. When I tried to contact them , they asked me to check on line and they were unable to provide the correct reason.

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

    From State bank of India, the services as well as response is prompt. They treat the customers with patience and they are friendly too. Home loan processing was too faster where everything got completed within 4 days of time. Its lesser rate and charges offered by State bank of India. Overall friendly services.

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