SBI Home Loan

SBI Home Loan
 4.0 / 5.0   by 127 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

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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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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 21 Oct 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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SBI Home Loan Reviews

93 % of our customers would recommend this bank. (118 out of 127) Write Review
Customer Reviews
Page 1 of 7 1 2 3 4 5
  • Validated User
    (0)

    As comparing to other banks, SBI is more convenient thus I availed home loan with them. Infact one of my friends is working in SBI and he referred me for low rate of interest thus I opted. Whatever the executive has committed initially they fulfilled it and they mentioned all features. I am bit concerned about documentation process because they asked for more documents. Overall, I am satisfied.

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

    Very long time back I closed one home loan from state bank of india At that point of time it was good. When I took the loan the procedure was short . If we go through loan mela the process would be very fast, rather if we gone through direct it was the response was low. May be they can improve on their services

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

    It was a great experience of availing a home loan from SBI last month. Some of my friends are working in SBI who helped me to avail the loan very easily. There was a delay my side only therefore the processing took time and the disbursement happened in 15 days. They offered me an interest rate of 10.25%. I would recommend the bank only for people looking to buy local properties.

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

    My home loan application is still processing with SBI and I am expecting my loan at any time. They offered me a very good interest rate of around 10.15%. Only thing they take more time for processing and the documentation was bit lengthy when compared to other banks. My overall experience was great.

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

    I am very much delighted to leave my comments for SBI housing loan , as they charge the least rate of interest. The processing fee charged is just rs 3000 which is very nominal. There is no limitation for making payment , I am allowed overpay when ever I want, the most exciting part is there is no limitation for making the payment and what more!

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

    Charges are low from state bank of india for my home loan compared with other banks. Pretty good facilities as like they will deduct the amount directly from my investment account and once when it starts it will deduct only from principal amount. There was no pre-closure charges. To my point of view for the past 3 months their services were extra ordinary. It was actually fine even though they are taking time if they actually had some higher interest rate.

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

    When I took up the home loan from State bank of India, the services was too excellent. The response is too prompt and there was a proper communication provided. I don't remember the rates and charges part as it is quite long, however it is quite impressive.

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

    I am holding a housing loan with SBI. Its very easy for one to avail a housing loan with SBI, provided all the papers works is in place. Its a on going loan and they are pretty much clear with their policies and procedure and I have not incurred any additional cost for this loan and I have applied for a top up loan and overall its good.

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

    It was a good experience of availing a home loan from SBI six months ago. The services are very good. Someone from SBI came to my office and collected my documents. There was no need for me to visit the branch at all. Everything happened smoothly and my loan was sanctioned within 15 days. They offered me an interest rate of 10.5%.

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

    It was very easy for me to avail a personal loan from SBI in the year 2010 because of my salary account. I had directly visited the branch of SBI and submitted the required documents for a personal loan. I know the manager of the branch very well. He didn't take much time to disburse my loan and ensured my loan disbursement within 3 to 4 days of time at a rate of interest around 11%. It was overall a good & hassle free experience.

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

    SBI Home loan the process was good i got loan approval in 15 days. Interest rate was 10.25% it was bit less when compare to other banks, charges was also nominal i did not faced any difficulties everything was fine. As per their commitment they offered.

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

    Home loan with SBI It was good service, Interest rate was 10.15% per annum its nominal in all banks. I got loan approval in 2 months. It was delayed from my end in terms of submitting documents. As per there commitment they offered everything. Overall i am happy with service.

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

    It was through the seller of the property I had availed a home loan from SBI in the month of Sep'2014. My loan was sanctioned after the processing time of 45 days. I think the documentation was very complicated and they requested much more documents that private banks. In fact they are very strict on documentation and not flexible at all. The rate of interest was 10.15% and the processing fee & charges are minimal.

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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: I got the loan approval in three days and i got the loan amount disbursed in 7 days. I would personally appreciate the Zonal manager of GOA State Bank of India Mr Devilal Sharma who took the initiative in getting my loan application processed in quick time.

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

    My home loan from SBI was disbursed in the beginning of this month. SBI was good and the services are excellent. I personally contacted SBI for a home loan. One of the bank executive came to my house for collecting the documents and my loan was disbursed within 40 days of time at a rate of interest of Just 10.10%. My overall experience was fantastic.

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

    I had purchased my new property in the month of Aug'2014 by availing a home loan from SBI. The agent from SBI got in touch with me and he collected all the required documents from me. The processing was much faster and my loan of 20 lakhs was disbursed within 10 to 15 days at a rate of interest of 10.15. One big advantage is my father in law was a retired SBI employee.

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

    With State bank of India, I did had a good experience. It was quick process and quite hassle free. Interest rate offered was 10.1% for women customers with 6500 as processing fees. The branch Manager Raiba directly was in touch with me and took through the overall loan processing in a quite smoother way.

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

    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
Customer Reviews
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