A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 SBI Plot Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.30% - 8.65% Floating
    ₹2,000 to ₹10,000 + applicable tax
    -
    1-30 Years
    Response Time : Within 30 minutes
    What you'll love
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    Good to Know
    Eligibility Criteria
    SBI Plot Loan is Rated as "Great!" by 1194 Users

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    SBI Plot Loan

    State Bank of India is India’s largest lender and is a government owned corporation. SBI is also the largest financial services and banking company in the country by assets. Founded in 1921. the bank currently has over 17,000 branches including 190 foreign offices. SBI has become a household name in India for banking and has an extensive presence in rural and semi-urban areas. SBI is also an active contributor to the Pradhan Mantri Jan Dhan Yojana (PMJDY) schemes and presently, holds over 30 lakh account. SBI offers a suite of banking solutions like deposits, loans, insurance and accounts for individuals, SMEs, NRIs and corporates.

    SBI housing loan portfolio offers unique loan products with customer-centric products and is very popular amongst the Indians. For customers who want to purchase a plot and construct the home of their dreams, SBI offers loans for plot purchase.

    Types of State Bank of India plot loans

    SBI offers two specially designed plot loans for different classes of customers:

    • Agricultural Banking Loan for Land Purchase:

      Designed especially for small and marginal agriculturists and landless laborers to aid the purchase of a plot, this scheme from SBI offers plot loans also with a view to consolidate and develop waste lands. The plot loan is also extended for development of irrigation facilities and land development under this scheme.

    • Home Loans for Plot Purchase and Construction of House:

      Offered by SBI realty, this loan offers the customer an opportunity to purchase a plot for house construction. Under this scheme, customers are also eligible to avail further loans for house construction and can continue both loans concurrently.

    Apply for Home Loan Online

    Features and benefits of SBI plot loan

    The following features offered by SBI Plot loans under the home loan portfolio sets it a league apart from other plot loan products in the market. Here are some of the benefits offered by SBI plot loans that benefit the borrower immensely.

    • High Loan Quantum:

      SBI offers up to Rs.10 crores under personal financing for plot loans. Under agricultural baking, SBI offers up to 85% of the land cost to make the process of financing more convenient.

    • Flexible Repayment Tenure:

      Customers can avail up to 15 years as repayment period. For agricultural plot loans, borrowers can choose a repayment period of 9 to 10 years with half-yearly instalments.

    • Loan Extensions:

      Customers who have obtained a plot loans can also avail further loans for improvement of their plot. Agriculturists can take further loans for the development of irrigation facilities and others can take a home loan for the construction of a house with the added advantage of running both the loans simultaneously.

    Eligibility for SBI plot loans

    The following is the eligibility for two plot loan schemes offered by SBI:

    Eligibility for Plot Loans under Agricultural Banking:

    • Marginal and Small Farmers in possession of less than 2 acres of irrigated land and 5 acres of unirrigated land in their names.
    • Landless agricultural workers are also eligible for SBI plot loans.
    • The applicant must have a constant record of prompt repayment of the loan for a minimum of of two years.
    • Borrowers who have a good repayment record in other banks are also eligible on a condition that they liquidate their outstanding balance to the other bank.

    Eligibility for Plot Loans under Personal Banking:

    • The applicant must be a resident Indian. This loan products is also offered to NRIs.
    • The applicant must have a constant source of income. Good credit history and repayment history are preferred.
    • The construction of a dwelling unit for which the plot has been purchased should commence within 2 years from the date of availing SBI Realty Plot Loan.

    Do enquire with SBI for the complete list of eligibility criteria including income criteria before applying for a plot loan.

    Further Reading: Check Home Loan Eligibility .

    Documents required for SBI plot loans

    The following documents will be asked for during the application of SBI plot loans . A duly filled and signed application form has to be submitted along with the required documents.

    • Identity Proof - either of a valid passport, voter ID card, Aadhaar card and valid driving licence
    • Income Proof - PAN card, salary slips for the last 3 months, latest IT returns and form 16, bank statements for the last 6 months
    • Property related documents like title deeds and copy of allotment letter or buyer’s agreement as applicable.
    • Other documents like employer documents, own contribution proof, passport size photographs for applicants and co-applicants.

    Please contact SBI for a detailed list of documents required based on your nature of employment and source of income.

    SBI Plot Loan FAQ:

    1. In what situations in SBI plot loan beneficial?

      If you want to buy a house but currently can’t afford it or when you want to buy just a plot for investment purposes, SBI plot loans will be highly beneficial. As an added benefit, you can also avail extension loans for construction of houses if you want to.

    2. In case of agricultural plot loans, the loan amount is considered for what purposes?

      The loan amount may be considered for the purposes of purchase of farm equipments, stamp duty and registration charges, cost of land and for development of irrigation facilities and land development not exceeding 50% of the land cost.

    3. Do we have gestation period for agricultural plot loans?

      Yes, gestation period will be 2 years in case of land to be developed and will be a maximum of 1 year in case of developed land. After the gestation period, a maximum of 9 to 10 years can be taken for repayment of loan.

    4. How to apply for SBI plot loans?

      Customers can visit the nearest branch officer or enquire with the SBI marketing officers. Alternatively, customers can also choose to apply online.

    5. What quantum of loan will be offered as loan for the purchase of agricultural plots?

      A maximum of 85% of the cost of the land as assessed by the bank will be provided. The quantum of plot loan is also based on the security (maximum of Rs.5 lakhs)

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    SBI Plot Loan Reviews

    • SBI Home Loan
      "Need to reduce ROI"
      0.5 4.0/5 "Great!"
      My home loan experience was good with SBI, the loan amount was for Rs 35 lakhs with the rate of interest of 8.5% which is high in the market. The processing fees were nominal and the process was smooth. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , noida
      Reviewed on Jul 09, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with SBI and my experience was good, the loan amount was for Rs 10 lakhs with nominal interest rate when compared to other banks. Customer service was good and they collected documents on time. The tenure period for this loan is for 20 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 09, 2018
    • SBI Home Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      My car loan was taken with SBI 2 years . The loan amount was 5 lakhs and the interest rate was satisfactory . The tenure period was 5 years . The customer service and responses was good.They have sanctioned the loan with the committed time.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 07, 2018
    • SBI Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      My home loan was taken with SBI 1 month back. The loan amount was 29 lakhs and the interest rate was average . The customer service and responses was good. The tenure period was 20 years . The executives were helpful. The documentation was also very good.
      Was this review helpful? 0
      , pune
      Reviewed on Jul 07, 2018
    • SBI Home Loan
      "Satisfactory"
      0.5 3.5/5 "Pretty good"
      My home loan was taken with SBI 1 week back. The loan amount was 37 lakhs and the interest rate was satisfactory. The customer service and responses was up to the mark. The tenure period was 30 years. I had a very smooth and quick documentation. I am satisfied with the customer service and responses.
      Was this review helpful? 1
      , chennai
      Reviewed on Jul 06, 2018
    • SBI Home Loan
      "Good Bank for Homeloan"
      0.5 5.0/5 "Blown Away!"
      I have taken the Home loan from SBI in the year of 2010. I have opted the tenure period of 20 years. They have offered me a interest rate of 9.5%. I have applied the loan amount of Rs. 25 lakhs and they have sanctioned the same. I don't have any issue while purchasing the loan. I used to pay the EMI of Rs. 23000 per month. Processing fee is very much nominal. Its very much easy to get a loan from SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 02, 2018
    • SBI Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan with SBI and my loan experience was good, the loan amount was for Rs 20 lakhs with nominal interest of 8.35%. The process was quick and loan amount was disbursed on time. Customer service was good and they followed up on time. The tenure for this loan is 20 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 29, 2018
    • SBI Home Loan
      "Best"
      0.5 4.0/5 "Great!"
      I am having the Home loan with the State bank of India and the interest rate is around 9%. I got the loan amount within forty five days of time and everything is better one for me with the State bank of India, also I have not faced any such issues on it.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 29, 2018
    • SBI Home Loan
      "Good home loan Services "
      0.5 5.0/5 "Blown Away!"
      I have directly visited the bank for home loan. I have received a good response. I have applied the home loan amount of Rs. 10 lakhs. I have taken this loan 1 year before. Tenure of period the loan is 10 years for that i have to pay the EMI of Rs. 10 K. Since i have applied the loan for the first time, I'm not much aware of the policies and benefits. I have add my father as co-applicant. Interest rates are very less in SBI
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 25, 2018
    • SBI Home Loan
      "Easy to get loan and interest rates are good"
      0.5 5.0/5 "Blown Away!"
      The State Bank loan is arranged by the builder. I just went to bank to sign the documents. The service was good over there. The interest rates are very less compared to other banks. Processing fee is nominal. I have applied the loan amount of Rs. 28 Lakhs. I have to pay the EMI of Rs.26700. I have taken a term of 20 years. Their is no hidden charges and everything was transparent.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 25, 2018
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a very good experience with them and the process in getting the loan has been easy and the loan amount which they had given had been satisfactory as well. The interest rate with them had been okay compared with the market rate and there has not been any issues faced with the banking services of them.
      Was this review helpful? 0
      , aurangabad
      Reviewed on Jun 25, 2018
    • SBI Home Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      It has not been a very good service which they had provided so far. The loan process has not been that good where it has taken much time than usual and the loan amount has been okay. My suggestion to them is that they should be giving a good treatment for their existing customers.
      Was this review helpful? 0
      , ranipettai
      Reviewed on Jun 25, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan experience was good with SBI, the loan amount was for Rs 12 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan on time. Customer service was good and they followed up on time. The tenure for this loan is 20 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 25, 2018
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the housing loan from the STATE BANK OF INDIA around 3 years ago. The customer support service and the response is good with the SBI and I have got the loan amount within 2 days of time., The rate of interest and the charges are average with this STATE BANK OF INDIA home loan.'
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 22, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a very good loan experience where there has been not much issues faced in getting this loan. The rate of interest has been good compared with the market rate and the process in getting the loan has taken less time and it had went smooth. The loan amount which they had given also has been satisfactory.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 18, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My home loan experience was good with SBI, the loan amount was based on my requirement and the rate of interest was 8.4% which is nominal rate. Documents were collected on time and i received my loan amount. Customer service was good and the tenure period for this loan is 13 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 13, 2018
    • SBI Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from SBI and the loan experience was good, the loan amount was for Rs 25 lakhs with nominal interest rate when compared to other banks. Customer service was good, they followed up on time and the tenure period for this loan is for 15 years.
      Was this review helpful? 1
      , ahmedabad
      Reviewed on Jun 11, 2018
    • SBI Home Loan
      "Easy to get a loan for Governement Employee"
      0.5 5.0/5 "Blown Away!"
      I used to pay the interest rate of 10.50%. I have taken this home loan in the year of 2008. I used to pay the installment nearly Rs. 8000. Since I'm a Government employee, i got the loan easily from them. I have taken a loan amount of Rs. 6 Lakhs. I have to pay my EMI for nearly 10 years.
      Was this review helpful? 0
      , rajkot
      Reviewed on Jun 05, 2018
    • SBI Home Loan
      "Hidden charges of SBI home loan "
      0.5 1.5/5 "Bad"
      Even SBI charges on home loan in hidden ways. SBI charged us in name of Lien charges, Secondary legal opinion, compulsory house insurance after disbursal of loan. They did not describe about such things at any time, nor such charges are being written on website. Even the charges of legal opinion and Architect review are much higher than the private lenders.
      Was this review helpful? 0
      , patiala
      Reviewed on May 25, 2018
    • SBI Home Loan
      "Good Services in SBI"
      0.5 5.0/5 "Blown Away!"
      I have taken the home loan of Rs.27 lakhs and 90000. They are providing the interest of 8.3 % which is very less compared to other banks. I have taken the loan for 25 years. I'm paying the EMI of Rs. 22325. It is not easy to get the loan in SBI. They will check the each and every documents properly.
      Was this review helpful? 1
      , nasik
      Reviewed on May 24, 2018
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