SBI Home Loan

SBI Home Loan
 3.5 / 5.0   by 87 users
Used this product? Write a review >>

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

01
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
03
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

01
02
03
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 31 Aug 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

Home Loans from Top Banks
Home Loans in Top Cities
Home Loan by Bank
Home Loan by City

News about SBI Home Loan


SBI Home Loan Reviews

97 % of our customers would recommend this bank. (84 out of 87) Write Review
Customer Reviews
Page 1 of 5 1 2 3 4 5
  • Validated User
    (0)

    State bank of India gives more flexibilities than the private banks. This nationalized bank process the loan for such a long time even not providing a proper response. Interest rate is 10.1% without no processing fees due to some discounts. I would suggest them to improvise their response time as well as the processing time.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    SBI Home loan offers good interest rate. Service part, is not that good , because the response is slow when compared with other Banks. They provide other benefits like quick process, the time taken to sanction the loan was very less also their documentation process is very simple to conclude satisfactory performance by SBI.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    State Bank India Housing loan: The customer service executive are good but the process was little bit slow and i got the loan amount got credited to my account in thirty to forty days. Since i chose this bank is that they offered the SBI maxgain plan.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    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 in the year 2010 was very good. I have a savings account with SBI and I have directly visited the nearest branch for availing a home loan. I have submitted all the required documents to the branch people and my loan was disbursed after 1 week of processing. They were very strict on documentation and they offered me a rate of interest around 8%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    SBI Housing Loan: When i applied for the housing loan with State Bank of India i would say in terms of interest rate and the processing fees it was very less. But when it come for the processing and the documentation it is little bit complicated when compared with other banks. I got the whole process completed with in forty five days.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    State Bank of India Housing loan: My personal experience with this SBI was very good. The customer service executives are very approachable and friendly the documentation was simple and transparent. The best part is that they understand the customer requirement and they work accordingly. I got the loan amount approved with in fifteen days.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have approached SBI for a home loan, their rate of interest is less when compared with other banks. They are the best in the market, I have not yet a housing loan its because, I am giving a second thought on that and its possible at the moment and probably in the near future I might take it.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    As far as concerned with home loan, within 7 days home loan was processed and got the loan amount credited. Interest rate was 10.10% and the processing fees was 0.5% of the home loan. Its great processing, there were no issues. Definitely, even the nationalized banks play a good role in loans.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    State Bank of India Housing loan there should be an improvement in terms of customer service and the turn around time and the processing period like time taken for processing the loan. The need to have a on-line application facilities that would reduce the time of the customers. I got the whole process completed in a month time.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • (0)

    State bank of India was already on the preferred list for the builder. Its just started in processing, submitted the documents. More or less documentation is same in all banks. State bank of India is fantastic in terms of interest rate where its 10.15% and very less processing charges

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

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

    Five years ago I have availed a home loan from SBI. There was no proper response from bank executives and I had to do everything on my own. We approached SBI for a home loan considering my mother's salary account relationship with them. After I submitted all the documents to the nearest branch my loan was disbursed within a moth. It was not that good experience because they should definitely improve the customer service. Only best part is the rate of interest was very low around 10.1% but still they collect some extra money every year.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    SBI Home Loan good thing is interest rate at 10.15%, it took 3 months to get approval, when they not ready to give after speaking to higher officer they agreed, documentation process was easy, processing fee was 0.25% their was not much charges, they made me visit many times, i use to visit bank and follow them.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Documentation and the initial process was very slow with SBI Home loan and i have not processed that completely am still in the process rate of interest is good when compared with other banks and charges are quite ok no like initially processing has to be a bit fast.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    SBI Maxi Gain home loan offers good interest rate; they are not pushy like axis bank and after I got the information. They give us time to make our decision. The administration charges and processing charges are not high. They have a maxi -gain home loan at no extra cost unlike similar loan from Citibank where 0.25% additional interest is charged; if we deposit surplus money, so much interest burden on home loan is reduced; at the same time we can withdraw this surplus money at any time providing higher flexibility and liquidity; we need not rush for part closure or pre-closure.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    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 OK. Almost two months were taken for completing the entire loan process. I felt that they are not totally focused or interested in having the business done in this market. I personally take the feedback that SBI lacks a proper team to work out on this issues. Customer service really needs improvement and the response was very slow.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (4)

    My father has an account with SBI at my home town. We directly approached the manager of the bank for a home loan and submitted all the documents on the same day itself. After 12 to 13 working days of processing the loan was sanctioned by the bank. I think the rate of interest was somewhere around 10 to 11%.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    State Bank of India for Housing loan is one of the best in the interest rate and the only draw back is the initial processing was takes some time and the executives are good and the very tough part is getting the loan and other things are good and i got the whole process completed in one and half month.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Processing is all good, in a particular time, they gave the loan. First 2 years, 8% interest rate then 10.25% which is good. Processing charges was 5000 plus insurance. I get message in mobile regarding payment. State bank of executive Saravanan/Suresh helped me and appreciate their work.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I submitted all documents to State bank of India, but there is still a copy from the builder to submit, actually documents preparation is in process, i will get within 1 week or 2 weeks. 10.15% i think is the interest rate and there are processing charges.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Its through the builder i contacted State bank of India. Its just started in processing, submitted the documents. More or less documentation is same in all banks. State bank of India is fantastic in terms of interest rate where its 10.10% and very less processing charges around 6500.

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

    Fees & Charges
    Promised Interest Rate
    Customer Service
    Responsiveness
    took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
Customer Reviews
Page 1 of 5 1 2 3 4 5
Contact Us on Mail
Facebook
Thank you for the feedback.
Make a suggestion or report a bug
  • Like us? Spread the word
  • Broadcast your feedback via Facebook Twitter
  • or Cancel
  • View our privacy policy

reTH65gcmBgCJ7k - pingdom check string.