SBI Home Loan

SBI Home Loan
 4.0 / 5.0   by 136 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
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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 01 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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SBI Home Loan Reviews

92 % of our customers would recommend this bank. (125 out of 136) Write Review
Customer Reviews
Page 1 of 7 1 2 3 4 5
  • Validated User
    (0)

    SBI is offering 10.10% of interest for womens and 10.15% for mens, this is very unique and they are innovative. I just applied for Home loan with SBI and I was informed that post submission of all documents they would process the loan amount within 2 to 3 weeks. Hence, I yet experience their service because process is in progress. Anyways it would be great if SBI speed up the home loan process.

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

    I availed home loan from SBI the process was very fast. I got loan approval in 15 days, for documentation I need to visit the banks for submitting all papers but still I am satisfied. They offered less interest rate at 10.15%. Overall it was smooth process I am happy with service.

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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
    (1)

    Home loan with SBI Interest rate was 10.10% it was quite less when compare to other banks. Best part is other banks are unable to provide loan for MDC approval but SBI is processing the loan for MDC approval plot. They approved my loan in 20 days.

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

    We all know that SBI is the biggest player in Indian banking sector. as the customer base is growing they should scale up the resources as well. Where as when i approached for home loan they took a lot of time and processed it very slowly. A lot of unknows in their process. Forced me to apply for a insurance for the loan and another Mutual fund as well. In general, they should learn a lot about customer engagement

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

    Home loan with SBI, The service is very good, best part is the processing was 1150/- including documentation and other charges. Interest was 10.15% it was quite less when compare to other banks. I got loan approval in 10 to 15 days it was delayed from my end, their was no insurance as well they gave option for insurance it was not mandatory. Overall it was perfect.

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

    I am using SBI platinum credit card the service is very good. They offered nice credit limit. Best part they provide offers often, The annual charges is reasonable its 250/-. Apart from annual charges they use to charge for late fee and on EMI is very high. It would be better if they improve on charges.

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

    Long back I took one home loan from state bank of India . Excellent services from them so far. I havent faced any hassle from them. Interest rates are floating but not flcutuates frequently like other banks. Customer service was nice eventhough it was nationalized bank

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

    SBI is giving facility of mexgin so using that we can do repayment option and also we can withdraw the amount easily. Other than that the rate of interest and other charges are similar like other banks. Actually my father is having account with SBI and he is promoter thus I approached SBI for Home loan. SBI could improve their customer service.

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

    SBI is transparent enough in providing information and I am satisfied with the process. As SBI being government bank they are offering less interest rat while comparing to private banks. The rate of interest is 8% for first year and 9% for second year and the rate will be floating in followed years. I am not much satisfied with the EMI date on my home loan because it is fixed and we canâ??t change it.

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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
    (1)

    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
    (2)

    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
    (2)

    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
    (2)

    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
    (1)

    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
    (1)

    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
    (1)

    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
    (1)

    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
Customer Reviews
Page 1 of 7 1 2 3 4 5
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