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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
    Rs.10,000 Amazon Voucher
    What you'll love
    Documents
    Perks
    Good to Know
    Eligibility Criteria
    SBI Plot Loan is Rated as "Great!" by 1141 Users
    Home Loan BYTES FROM OUR KITCHEN

    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:

      SBI Plot Loan
    • 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)

    SBI Plot Loan Reviews

    • SBI Home Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with SBI 9 years back. The loan amount was 12 lakhs and the Interest rate was around 10% which wass avergae in the market then. The tenure period was 20 years . Here I am satisfied with the loan process and they have sanctioned the loan with the committed time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 20, 2018
    • SBI Home Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My home loan was taken with SBI 2 years back. The loan amount was 34 lakhs and the Interest rate was satisfactory . The loan process was good and they have sanctioned the loan with the committed time.My overall experience was very good and its recommendable.
      Was this review helpful? 0
      , guwahati
      Reviewed on Feb 20, 2018
    • SBI Home Loan
      "Hassle free"
      0.5 4.0/5 "Great!"
      SBI home loan is very good, I just visited three times to the bank. They have disbursed the loan amount on time. My loan amount was around Rs.17 lakhs for 20 years, they gave me floating interest rate is very good. They have repayment loan with nice scheme.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 15, 2018
    • SBI Home Loan
      "Need Improvement"
      0.5 2.5/5 "Just OK"
      The STATE BANK OF INDIA executives took very long time to process my home loan application and they haven't even given any status of the product. The service needs to be improved with the STATE BANK OF INDIA, they need to give response to the customers. In all SBI has to be more co operative.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 14, 2018
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken the Home loan with the State bank of India and the rate of interest is around 8.35%, also the customer service is pretty good. I would like to say that the response is also good one with the State bank of India.
      Was this review helpful? 0
      , pune
      Reviewed on Feb 13, 2018
    • SBI Home Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      I am having the home loan with the State bank of India and the response is very good one. Rate of interest was around 9.2% and the customer service is good too. The loan amount got disbursed within a month of time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 07, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      STATE BANK OF INDIA has approved and disbursed my home loan within one month . The customer support is prompt with the STATE BANK OF INDIA. The required loan amount has not disbursed however they have disbursed my eligible loan amount.The rate of interest and the charges are average with the STATE BANK OF INDIA.
      Was this review helpful? 0
      , nalgonda
      Reviewed on Feb 06, 2018
    • SBI Home Loan
      "Best"
      0.5 4.0/5 "Great!"
      Rate of interest with the State bank of India was around 10% for the Home loan before ten years of time. I would like to say that the service aspects are okay with them and they have not asked any collateral on it.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 02, 2018
    • SBI Home Loan
      "Faster approval"
      0.5 4.0/5 "Great!"
      My home loan is ongoing with the State Bank of India. The loan process was simple and faster. They charged lesser interest rate and processing fee. I have purchased residential property. The loan duration was 30 years. The part payment and pre closure option is good with SBI.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Feb 02, 2018
    • SBI Home Loan
      "Overall good experience"
      0.5 4.0/5 "Great!"
      My home loan is with State Bank of India. They charge the lowest rate of interest and processing charges. The bank is not that flexible and there is too much of paper work and a long process. I only had to visit the home branch till the loan was done. After which I could step into any branch for a query.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 31, 2018
    • SBI Home Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      The home loan service is not transparent with the state bank of India. The hidden charges and the rate of interest is quite high with the State bank of India. The SBI has offered me a home loan around 2 years ago. The customer support is average with the SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 30, 2018
    • SBI Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      Got the home loan from the State bank of India around 6 months ago. They have disbursed the loan amount in 2 months of time. The required loan amount has been given and I am satisfied with it. The rate of interest and the charges are average with the SBI when compared with others.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 30, 2018
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I had applied for home loan with the State bank of India around 7 years ago and I have got the loan amount after a month time. The customer support is average with the state bank of India, the response part is also average with the SBI, The rate of interest and the charges are very low with the SBI home loan services when compared with other banks.
      Was this review helpful? 0
      , nalgonda
      Reviewed on Jan 28, 2018
    • SBI Home Loan
      "Better"
      0.5 5.0/5 "Blown Away!"
      Have been dealing with many financial products with State Bank of India for a long time. I have taken a home loan for rs. 50,00,000 with rate of interest at 8%. The tenure period given for me is thirty years. I would like to suggest to improve their customer service to interact with the people.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 25, 2018
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was an good experience with State bank of India home loan service. The rate of interest offer by State bank of India is average and the documents have collected directly. The customer support is good. It was an good experience with State bank of India home loan department.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 25, 2018
    • SBI Home Loan
      "Recommendable Home Loan"
      0.5 5.0/5 "Blown Away!"
      Before 10 years, I have taken home loan from SBI, they gave me lower interest rate around 8.5% of interest for the amount of Rs. 22 lakhs. It has the tenure of 30 years, however I can close by loan anytime without any charges. SBI is sending loan statement on time.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 24, 2018
    • SBI Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      My Home loan experience with SBI was good, the process was smooth and i received my loan amount within the given time. The loan amount was for Rs 13.50 lakhs with the rate of interest of 8.55% which is nominal rate. There was no processing fees charged for this loan and the tenure of this loan is 20 years. Customer service was good and they responded on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 23, 2018
    • SBI Home Loan
      "Better"
      0.5 4.0/5 "Great!"
      I have my home loan with SBI which is taken through the online portal. The loan amount was 2 2lakhs and the tenure period was 2 years . The process was very simple and hassle free . They have provide door step service for collecting documents , The loan processing fee was nominal. Therefore I would conclude stating that the overall experience which I had with them was very good.
      Was this review helpful? 0
      , secunderabad
      Reviewed on Jan 17, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken home loan from SBI and it was a very good loan experience. The loan amount was for Rs 44 lakhs with the rate of interest of 8.65% which is nominal when compared to all other banks. The process was quite long and it took 2-3 weeks to receive the loan amount. Customer service was good and they responded on time. The tenure of this loan is 30 years and it was overall a good service from SBI.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 16, 2018
    • SBI Home Loan
      "Call support needs to be improved "
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with State Bank of India. I have completed one and taken a new loan recently. They need to improve the customer service. The rate of interest was best. The documents are collected at doorstep by the executive. They have disbursed my loan on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 10, 2018
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