A "low interest" loan shouldn't mean you have very little interest in paying it back!

SBI Home Loan

SBI Home Loan
 3.5 / 5.0   by 253 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 18 years old

 SBI Home Loan Maximum Age

Less than 70 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 30 May 2015

SBI Home Loan Details
Interest Rate (Floating) For women - 9.85%
For others - 9.90%
Processing Fees 0.25% of Loan amount (Minimum Rs. 1000, Maximum Rs. 10,000)
Loan Tenure 30 years
Pre-closure Charges Nil

Overview of SBI:

State Bank of India (SBI) is a government owned banking and financial service organization. The bank is headquartered in Mumbai and is the largest banking institution of India in terms of assets. The bank has a massive presence in the country with over 17,000 branches spread across the nation’s length and breadth. Not only this, the bank has a huge international presence too with branches in over 34 countries of the world. SBI caters to a large base of individual and corporate clients and has operations in the fields of personal banking, investment banking, corporate banking, asset management and so on.

SBI Home Loans:

State Bank of India provides a range of home loan products to suit the individual needs and preferences of its customers. Various surveys and consumer awards have conferred the title of ‘The most preferred Home Loan Provider’, to SBI. Low interest rates, flexible payment options and zero hidden charges are some of the features that lend to the popularity of SBI home loans.

With thousands of branches spread across various geographical locations has made SBI one of the most accessible banks to obtain a loan from.

Why apply for a SBI Home Loan through BankBazaar?

Applying for a home loan can sometimes become a great hassle if you do not have all the information required to choose the correct option. Since SBI offers a host of home loan schemes, opting for the best-suited and most applicable scheme can become a massive task. BankBazaar provides you with all the right information required to obtain a loan. Not only this, BankBazaar also helps you in asking the right questions, calculating your EMIs (through online calculators) and in comparing the rates of different home loan schemes.

New Lowest Interest Rate: The State Bank of India has reaffirmed its commitment to assist in the progress of India’s women folk, offering a newly launched home loan scheme at an interest rate of just 9.85% per annum that applies exclusively for women. The remaining borrowers can procure similar SBI home loans at an interest rate of 9.90% per annum (for others), a number that qualifies home loans from SBI as a very competitive loan option.

SBI Home Loan Schemes:

SBI offers a wide range of home loan products to its customers. You can choose the best home loan scheme that suits your budget and requirement. SBI home loans come with exclusive packages and benefits to cater to the home finance needs of all its customers. Following are some of the home loan options available from SBI.

  • SBI MaxGain Home Loan:
  • The SBI MaxGain home loan aims to enable its customers to reduce their interest burden at no extra cost. This home loan acts as an overdraft account too, giving the customer privilege to withdraw and deposit amounts depending upon their cash availability. Bank provides internet banking and cheque book facility with this home loan. Excess funds when parked with this account impact the overall principal and the associated interest. Also, a customer can choose to withdraw amount from the linked account in case of excess parked funds.


    Features:
    • Min. Loan Amount – 5 lacs
    • Max. Loan Amount – No upper limit
    • Interest Rate – 0.25% over and above the existing home loan interest
    • Higher Liquidity, Savings on total interest paid
    • Pre-closure Charges - Nil
    • Interest Rate – Floating 10.15%

  • SBI Yuva Home Loan
  • This SBI home loan is tailored especially for individuals who are young and generally taking loan for their first home. The age eligibility is between 21-45 years. This loan grants an amount which is 20% over and above the regular loan amount. This home loan is ideal for fresh professionals and government employees. Under this scheme the home loan full repayment starts only after 36 month from the date of availing the loan. For the first 36 months only interest needs to be repaid.


    Features:
    • Eligibility – 21-45 years
    • Minimum Income – Rs.30,000 per month
    • Pre-closure Charges - Nil
    • Interest Rate – Floating 10.15%

  • SBI NRI Home Loan
  • As the name itself suggests, the NRI loan is tailored for Non-Resident Indians (NRIs) and for People of Indian Origin (PIOs). This loan is given to an individual who earns a regular income and whose minimum employment period (in India or abroad) is not be less than 2 years.


    Features:
    • Min. Loan Amount – 3 lacs
    • Max. Loan Amount – No upper limit
    • Eligibility – NRI or PIO
    • Pre-closure Charges - Nil
    • Interest Rate – Floating 10.15%

  • SBI Realty:
  • This SBI loan is for people who want to buy land or plot. The construction should commence within 2 years from the sanction date of the loan. This type of loan comes with the flexibility of availing another loan for construction purposes on the land bought. So a customer is entitled to avail two simultaneous loans on the SBI realty home loan.


    Features:
    • Max. Loan Amount – 15 crores
    • Loan Tenure – Up to 15 years
    • Pre-closure Charges - Nil
    • Interest Rate – Floating 10.15%

  • SBI PAL
  • This is a Pre-Approved Home Loan from State Bank of India. This loan does not depend upon the property to be bought. SBI grants its customers the freedom to avail the loan amount before deciding upon the property. This gives customers the needed confidence to negotiate boldly with builders/sellers regarding the price of the property.


    Features:
    • Eligibility – Depends on the annual income of the applicant
    • Tenure – Pre-Approved Letter of arrangement is valid for a period of 4 months
    • Min Loan Amount – 10 Lacs
    • Max Loan Amount – No upper limit
    • Pre-closure Charges - Nil
    • Interest Rate – Floating 10.15%

  • Her Ghar Home Loan:
  • This is a home loan scheme designed especially for women applicants. A woman needs to be the sole applicant or the primary applicant for this type of home loan. Also, the property for which home loan is being taken should be in the name of the woman applicant or she should be the primary owner in case it of joint ownership. This home loan scheme by SBI aims at enabling women to own property and carries a social obligation in line with the empowerment of women.


    Features:
    • Loan Tenure – 30 years
    • Interest Rate – 9.85%
    • Pre-Payment Charges - Nil

More Housing Loans from SBI:

Apart from the above listed regular home loan schemes by State Bank of India, there are several other options also which aim to uplift people from tribal and village areas of the nation. These schemes are in line with the organization’s commitment towards comprehensive nation building.

Here are a few such housing schemes offered by SBI-

  • SBI Tribal Plus:
  • This housing loan from SBI is meant for customers who are from tribal areas or hilly regions where mortgage of property is not available. The loan is provided for construction of a new house or flat and for purchase of a new house. Under this scheme SBI also provides an option of taking loan for the purpose of renovation or repair.


    Features:
    • Min. Amount – nil
    • Max. Amount- 10 lacs
    • Repayment Period – up to 15 years

  • GRAM NIWAS:
  • The Gram Niwas scheme from State Bank of India is aimed at providing housing finance to the customers from rural regions of the nation. This housing plan covers people from rural or semi-urban regions which have a population of less than 50,000 as per the 2001 census. Under this scheme, home loans can be availed for buying of land or house, renovation and repair of house and construction of house.


    Features:
    • Min. Amount – nil
    • Max. Amount- 5 lacs
    • Repayment Period – up to 15 years

  • SAHYOG NIWAS:
  • Sahyog Niwas scheme aims to provide home loans to self-help groups which have a good credit history. The bank lends to members of these groups under this scheme for purposes of buying of land or house and construction, repair or renovation.


    Features:
    • Min. Amount – nil
    • Max. Amount- 50,000 per person of the self-help group

Significant Features of SBI Home Loans:

  • Lower interest rates as compared to other contemporary banks
  • Low processing fees
  • No hidden charges or administration fees
  • Nil pre-closure charges making repayment easier and more flexible
  • A huge network of branches across the nation making it convenient to visit a SBI branch
  • Exclusive packages depending upon individual needs of customers
  • Interest is calculated on daily reducing basis which lowers the overall interest paid

Documents required applicable to all loan seekers:

  • Duly filled loan application
  • 3 passport-size photographs
  • Identity Proof (Voter ID Card/Passport/Driving License/Pan Card)
  • Proof of Residence (Current Address Proof)
  • Bank Statement for last 6 months
  • Personal assets and liabilities declaration
  • Proof of property
  • Income Tax Proofs (If required)
  • Signature Identification from present banker

Documents required for Guarantor:

  • Assets and liabilities Statement
  • 2 passport-size photographs
  • Identity Proof
  • Address Proof
  • Signature Identification from present banker

FAQ Section:

Frequently asked questions about SBI Home Loan.


How can I decide which SBI home loan fits my requirement?

BankBazaar gives you the option of comparing home loan schemes and an online EMI calculator to help you plan your finances well in advance before availing a home loan.


What are the various interest rates offered on home loans?

Interest rates vary with respect to their floating or fixed nature. Generally, foating home loan rates vary between 9.85% to 9.90% and fixed vary from 10.25-40%. This also depends upon the lender bank. SBI offers floating interest rates between 9.85% to 9.90% per annum.


What is the processing fee charged by SBI for home loans?

SBI charges a low processing fee for its home loans. 0.25% of the loan amount is charged. The amount can be anywhere between Rs.1,000 to Rs.10,000.


Can I pay off my SBI home loan earlier than the initial tenure?

Yes. You can pay off your SBI home loan earlier too, without a pre-payment penalty fee.


Is there any security required for the SBI home loan?

Usually, the property that is purchased using the loan serves as the security. In some cases it is at bank’s discretion to ask for additional securities like insurance policies, fixed deposits etc.


Is a guarantor required to sign my loan application?

Yes. A guarantor with all the valid and required documents need to sign your loan application.


What kind of job makes me eligible for SBI home loan?

You can either be a salaried employee or self-employed for obtaining this loan. However, the only condition is that you should be earning a regular income and should be able to furnish proofs of the same.


Can joint-applications be made for SBI Home Loans?

Yes. Joint applicants are welcome at SBI.


Are there any tax benefits associated with SBI home loan?

Yes. Tax rebate under section 80C of the Income Tax Act is applicable.


Are long-term home loans beneficial or short-term loans?

Long-term loans are beneficial in giving you the option and comfort of lower EMIs, however, short-term loans mean higher EMIs but lesser interest. A borrower can choose the option depending upon his financial status.


How long does it take for my loan to get sanctioned?

If all the required documents are in place then your SBI home loan can be sanctioned in a few days.


Where can I apply for SBI home loan?

With a network of over 17000 branches in India, SBI home loans can be applied at any of your nearest bank branch.

News About SBI Home Loan

  • SBI Home Loan Disbursal in Just
    10 Days

    State Bank of India is throwing all its weight behind improving customer experience in the home loan segment. The largest bank in India is contemplating on cutting down home loan disbursal time frame from 17 days to 10 days in the next 6 months in a phased manner. The turnaround time for disbursal was about 31 days last year.

    In order to fulfil the cut in disbursal time, SBI has streamlined key processes like pre approving housing projects which will directly impact the disbursal time frame. It will also be unifying sales and marketing teams under a single roof to ensure better coordination.

    During FY-2015, the bank had disbursed housing loans worth Rs.50,000 crore. In the current fiscal, SBI is looking at a growth of 10-15 percent in this segment.

    4th May 2015

  • SBI Makes a Killing in Bengal- Home Loans Disbursal Hikes by 50%

    The recently ended fiscal year seems to have been a good one for the State Bank of India, especially for its Bengal circle. According to reports, SBI’s Bengal circle recorded a whopping 50% rise in home loan disbursement in the fiscal year 2014-2015 and touched a figure of Rs 2,100 crore. Not only that, SBI also successfully brought down its loan processing time from 31 days to only 17 days. For the ongoing fiscal year, the bank is aiming for similar growth and targeting to take the home loan disbursal figure up to Rs 3,000 crore and further reduce the processing time for home loans to a mere 10 days! Reflecting on this update, CREDAI, the apex body of realtors, has predicted a 10% to 12% increase in the housing sector in Bengal due to a rise in input cost.

    21st April 2015

  • State Bank of India announces a reduction in its home loan interest rates.

    India’s largest public sector bank, State Bank of India has made a drastic cut in home loan interest rates by 25 basis points, offering one of the lowest rates in the affordable housing segment. Specific to women, SBI has launched a home loan scheme with an interest rate of 9.85%. Other borrowers can get SBI home loans at an interest rate of 9.90% per annum. Effective on SBI home loans sanctioned on or after April 13, this move comes after the RBI Governor pushed Indian banks to take advantage of the two repo rate cuts done earlier this year.

    The "Her GHAR" scheme targeted towards women borrowers requires them to be the sole applicant or the first of the co-applicants and also the sole owner or the first co-owner of the property financed. For example, after applying the new interest rates the revised EMI for a loan tenure of 30 years will be Rs 867 per lakh for women and Rs 871 per lakh for other borrowers.

    16th April 2015

  • SBI Offers Special Deals on Loans to Pre-Existing Home Loan Customers

    State Bank of India, India’s biggest lender by assets, has offered a jackpot to its existing home-loan customers. SBI’s home loan borrowers can now avail a personal loan or a top-up loan at the same interest rate as home loan. This limited period offer from the nation’s top home loan lender will be a benison for all the existing SBI home loan borrowers.


    As an added advantage, an existing home loan customer can clinch a personal loan at an interest rate of just 10.15%. For women, personal loans will be even affordable at 10.10% interest rate. The only condition to secure this special offer is that the customer must have been paying all his home loan EMIs on time.


    Don’t have a SBI home loan? No worries – With BankBazaar.com, you can check out other awesome home loans deals and also use the EMI calculator to see what fits your budget.

    17th March 2015

  • SBI Suggests Tax Benefit Schemes for Home Loans Ahead of the Union Budget

    State Bank of India (SBI), country’s largest lender when it comes to home loans, wants the upper limit for tax subsidy to be increased from Rs.15 lakhs to Rs.25 lakhs. SBI has also suggested higher tax benefits for home loans in order to target “Housing for All” by 2022.


    In its wish list for the budget, SBI also wants statutory deduction for stamp duty and registration charges while computing income tax. For recovery of principal component of home loan, SBI has also suggested that the government provide additional deduction of Rs.50,000 above the current limit of Rs.1.5 lakhs. SBI wants the cost of the house to be increased from Rs.25 lakhs to Rs.30 lakhs to be eligible for subvention in the metros. SBI also stressed on the fact that the government should seriously consider bringing housing loan for first-time applicants under overall priority sector ambit. It is worth noting that SBI’s loan book has showed a growth of 13% year-on-year.

    2nd March 2015

  • SBI beats private competitors;biggest distributor of Home Loans in the country!

    State Bank of India has become the largest player in retail banking with current sanctions of over 800 home loans every day with average sanctions of Rs.150 crores daily.


    The total Home loan outstanding grew by about 4403 crores from the first quarter of financial year 2014-2015 to the third penultimate quarter. The racy pick-up in home loan product has also come as a result of 1405 residential projects where SBI has obtained single title clearance.


    Second in the race of home loan sanctions is, the private player HDFC with loans amounting to Rs.145300 crore in the last quarter. This is closely followed by LIC Housing Finance with Rs.95310 crore as home loan outstanding as against Rs.79255 crores for ICICI, the fourth largest player in the home finance segment.


    The competition is tough and cut-throat because of similar rates offered by all the top banks. The rate offered by these banks is 10.15% for general and 10.10% for women. Sensing the close competition, SBI has deployed more workforce to popularize its home loans.


    As per a study, mortgage penetration in the country is still a meagre 9% of the national GDP as compared to a high 81% and 69% in the UK and the US. This leaves a huge untapped demand that can be leveraged by SBI with its wide network of branches.


    5th February 2015

  • SBI to Enlist Ex-Employees to Monitor Loans

    India’s largest public sector bank, the State Bank of India (SBI), is in talks with ex-employees who recently retired from the bank to draw on their expertise to monitor loan accounts and train existing employees. These ex-employees will be recruited on a contract-basis for short periods of time.


    The expected outcome of this move is to improve the quality of credit, reduce deviations and positively influence skills of existing/new employees.


    This move comes in the wake of increased emphasis on compliance and quality asset creation as well as tougher competition from peers in the private sector.


    As a result of these initiatives, the bank hopes to see a positive impact on its loan business. SBI hopes to improve home loan sales by channeling its products across all its network branches, even beyond its banking vertical.


    To this effect, SBI will source home loan customers through its other verticals as well such as insurance and mutual funds.

    8th January 2015

  • 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

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

SBI Home Loan Reviews

85 % of our customers would recommend this bank. (216 out of 253) Write Review
Customer Reviews
Page 1 of 13 1 2 3 4 5
  • Validated User
    (0)

    Home loan interest rate in SBI is very low and it is best because I got it done for 10%, which is of floating rate. Paper works were maximum and they collected twice the papers. I cleared all my way but there was some delay from SBI so entire process got delayed. Processing charge is minimum.

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

    I got the housing loan with State Bank of India bank for the rate of interest as 13%.The processing time is so long and it took around a month because there was the delay in the documentation process.The total tenure is 14 years.I am happy with them till now.

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

    Within 1 week SBI bank disbursed my home loan. No much documents were required for the process of the loan.They offered the interest rate as per the market rate as 10.1% and waived off the processing fee.The response was good toward my application status.

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

    I have taken an home loan from SBI bank. The loan got disbursed within 15 days. They offered the loan with 9.9% of interest rate and waived off the processing fee. The documents were easy to provide for the process. Customer service is not so good as the private banks.

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

    I am having the State Bank of India housing loan for the last 1.5 years.I am feeling good to have with them.The rate of interest is around 10.15%.The documents are really very straight forward.Within a maximum of 2 weeks the loan got disbursed.

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

    I got the home loan with State Bank of India for the rate of interest as 9.75%.They are very transparent and there is no hidden charges.Within 15 days the loan got disbursed and there is very nominal documentation and zero 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
    manoj took a Home Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have taken a housing loan with SBI. I had a tough time with them where I have to run around to get my work done. SBI being a nationalised bank we cannot expect much from them. On the other hand their rates are descent which is 9.95%. Another interesting thing about SBI is as and when the RBI slashes the rates SBI would reduce it instantly. Its automatic as well. On top of all that, there is no need for me to pay anything to opt for the new rate. I have not take any property insurance as well.

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

    I have taken a housing loan from SBI, as the builder has got a tie up with them. It was basically a hassle free loan. There is no need for me to take any special efforts also I am away from home town so I have opted for that. I have just signed the documents and I took the loan . Interest rate offered by them was 10.50%. Processing fee charged by them was nil.

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

    SBI is even more good compared to HDFC LTD. The processing fee is free, there is no additional charges. The service provided by the Customer service is good. Interest rate is lower as per the market. After all the formalities and verification I got my loan amount within a week. it was a fantastic experience

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

    Fee and charges on home loan is relatively less in SBI and they are not charging high however some charge been involved. Interest rate is par to the market but not very sure about the current status. Smooth in documentation process but I wonâ??t say that whole process was convenient because every time customer have to visit their branch to submit the documents.

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

    I took home loan with SBI. It was nice experience with them. I only dealt with an agent, I dint get a chance to interact with the customer service. Interest rate is normal which is 9.15%., the processing fee is good. Only minimum number of documents were collected. SBI just need to improve in processing time because it took 1 month for the loan to get disbursed.

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

    State Bank of India provides very quick response towards any queries and all.They provided me the home loan with the rate of interest around10.15%.In case of documentation it took some time.Finally everything comes up with happy ending.

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

    The home loan which I have taken from SBI is an awesome experience. Till now I havenâ??t faced any issues with the Bank. They are very helpful and they helped out well even when I approached them during the lunch time and without any delay they got my things done efficiently. The processing was very fast and it took only 10 to 15 days for loan to get disbursed.

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

    My processing was done very quickly, by an agent who was not an employee of SBI. He was evidently keen to oversell and misrepresented a bunch of points - 1. My margin letter clearly stated that I would need to pay a down payment of 26% of the value of the property. I questioned him about it and he said I would only need to pay 20% for the loan sanction, not mentioning that they would stop releasing subsequent amounts and hold me to ransom until I paid the remaining 6%. I have had a disbursement stuck for 6 months now because I was told too late to put together the funds. Loan value is less than 75 Lakh. 2. I did not get the benefit of lower rates inspite of being a woman or buying a green home - currently im paying 10.4% while my husband pays 10.25 for a property bought at the same time. Customer care has been nonexistent and its like talking to a wall - the agent disappears for months at a time without communication on disbursements. My builders are livid. Im transferring to HDFC.

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

    State Bank of India provided the home loan for me with rate of interest as 10.1%.They provided the 80% of the loan what I asked for.They gave the tenure as 15 years and I completed 8 months. Its really a good experience and processing charge also very low as 3400Rs only.

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

    This was way back in 2006-2007 wherein I decided to purchase a house and on my dad's insistence and the lower interests lured me to SBI. I was disappointed by the conservative staff which was like an elderly home and they hardly could connect with me, forget reassuring. They demanded so much paperwork from a guy who was purchasing his 1st home and needed more of guidance than instructions. Finally , an agent helped coordinate with IDBI

    Was this review helpful? Yes

    Thank you for your vote

    Thanks, you've already rated this review

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

    Being a government the SBI took only 1 week to process my Home loan. No much documents was collected just the legal papers where asked for the process of the loan. A good follow up was done by the bank customer support and it was very easy for me as the bank is near to my home.

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

    I took home loan with State bank of India. The paper work was very lengthy. When I am in need of money , It took over a month for the loan to get disbursed. I am satisfied with the interest rate. but the charges is pretty high. I would like ti suggest that It could be better if the could reduce the interest rates and Customer service should be really helpful when a customer is really in need.

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

    My experience with the home loan was great. They approved the loan application within 2-3 days and just waiting for the amount to get transfered to my account. Excellent service is provided by the bank. The rate of interest is 9.95% comparatively normal. Processing fees is 6500 which is ok as the base rate will remains the same whenever there are changes in the reserve bank and the emi amount will not change.

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

    SBI providing the home loan with very low rate of interest at 12% and also its floating .After some time the rate of interest got reduced at 10%.I can day the documentation was quite takes time.If you keep patient with that you will get good interest rates with SBI where other private sectors cant do.

    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
    anand took a Home Loan from STATE BANK OF INDIA Reviewed on
Customer Reviews
Page 1 of 13 1 2 3 4 5
0.0 0
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.
This Page is BLOCKED as it is using Iframes.