A "low interest" loan shouldn't mean you have very little interest in paying it back!
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
    Documents
    Perks
    Good to Know
    Eligibility Criteria
    SBI Plot Loan is Rated as "Great!" by 1123 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
      "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
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Home loan with State bank of India.They have given a loan amount of 30 lakhs,rate of interest is low as compared to others.The tenure is for five years.they had processed the loan within a months time.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 06, 2018
    • SBI Home Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a good experience with State bank of India home loan service,they offered me a rate of interest of 8.4 which was fine compared to others in the market. The documents where collected from my door step which was a easy process it was a good service from State bank of India home loan service.
      Was this review helpful? 9
      , lucknow
      Reviewed on Dec 28, 2017
    • SBI Home Loan
      "Good One"
      0.5 5.0/5 "Blown Away!"
      The customer service was good from STATE BANK OF INDIA . The SBI bank gave me a full approval on the amount i asked for .The money got disbursed in 15 working days of time . The Rate of interest was 8.35% they charged and the processing fee was 0 that was one good thing i loved . The Pre closure and part payment is there availed to me with no extra charges .
      Was this review helpful? 5
      , kolkata
      Reviewed on Dec 27, 2017
    • SBI Home Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      I have applied for Home Loan with Sbi but the required loan was not approved and they haven't approved the home loan application because of the higher loan amount . They took too much of time to disburse the loan and they will not give response on time.
      Was this review helpful? 5
      , vijayawada
      Reviewed on Dec 26, 2017
    • SBI Home Loan
      "Average"
      0.5 4.0/5 "Great!"
      Previously I had a saving account with SBI. I have taken a home loan with them. I have chosen floating option for the rate of interest, whenever it goes down they don't it automatically but I need to call them many times to get this offer. The home loan has been closed before 3 months.
      Was this review helpful? 2
      , noida
      Reviewed on Dec 26, 2017
    • SBI Home Loan
      "WONDERFUL SERVICE"
      0.5 5.0/5 "Blown Away!"
      It was a full approval the STATE BANK OF INDIA gave me on the Home loan i took from there ,The money got disbursed within 25 working days . The Rate of interest was 8.25% fixed that they charged . The Processing fee there they took of 5K . The Per closure option not there .
      Was this review helpful? 3
      , nasik
      Reviewed on Dec 22, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had a Home loan with State Bank of India before 6 years. It was a pretty good experience. I hardly visit the branch and everything was good with them. The rate of interest was nominal and there is no processing fee. They offered me a very good interest for my home loan.
      Was this review helpful? 2
      , mumbai
      Reviewed on Dec 21, 2017
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a Home loan with Sate Bank of India.The loan amount is 16 lakhs,rate of interest is 9.7% is nominal as compared to other banks.They have deducted processing fees if .5% from the principle amount.The payment is don't through online.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 19, 2017
    • SBI Home Loan
      "Best banking"
      0.5 5.0/5 "Blown Away!"
      I have taken a Home loan with State Bank of India.The loan amount is eight lakhs,rate of interest is 8.65% the loan is closed, i got the best service from them.The tenure is for 5 years.They have deducted processing fees of 8000.I am happy banking with them.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Dec 19, 2017
    • SBI Home Loan
      "Housing loan with SBI"
      0.5 4.0/5 "Great!"
      I have taken a housing loan from State bank of India. The approved loan amount was 24 lakhs. The rate of interest was 9.25 %. And the interest rate is variable. The monthly EMI comes around 20100 for 30 years. The documentation was good. The processing fees was 1600 rupees.
      Was this review helpful? 1
      , thane
      Reviewed on Dec 19, 2017
    • SBI Home Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I have my home loan with SBI 13 Years . The loan amount was 8 lakhs and the tenure period was 20 years. The loan process was very easy and they have provided door step service for collecting documents o My overall experience was good so I would like to recommend to others.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 15, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken Home loan with State Bank of India.The loan amount is 22 lakhs,rate of interest is competitive.The tenure is for 20 years.They had deducted processing fees of 1% from the principle amount.The net banking is good to transfer funds and easy to operate.
      Was this review helpful? 4
      , kochi
      Reviewed on Dec 13, 2017
    • SBI Home Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from State Bank of India and the customer services are good. The process was very much on time and the documentation was also pretty easy. The interest rate and processing charges is normal and overall I had no issues to get my loan through.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Dec 13, 2017
    • SBI Home Loan
      "Need to improve"
      0.5 1.0/5 "Really Bad"
      I have taken the home loan with the State bank of India and the customer service is not really good one, also am not at all happy on it because they have not shared about the tax returns. Reaching them is really difficult.
      Was this review helpful? 5
      , bangalore
      Reviewed on Dec 13, 2017
    • SBI Home Loan
      "Faster service"
      0.5 5.0/5 "Blown Away!"
      Earlier SBI have offered 8.5% interest rate and later it was changed around 11%. It is a floating account for home loan. Whenever rate of interest decreases they should decrease the amount and there should be proper intimation. The process was faster and the disbursement was on time. The payment mode is convenient.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 09, 2017
    • SBI Home Loan
      "Good Loan"
      0.5 5.0/5 "Blown Away!"
      I took this Loan as a Co-applicant with my Father. The process of getting the Loan was very slow, the documentation process was a little confusing. Their Rate of Interest of 8.45% is one of the best that I have seen. The overall experience with it has been good.
      Was this review helpful? 2
      , junagadh
      Reviewed on Dec 07, 2017
    • SBI Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have my home loan with SBI 10 years back . The loan amount was 3,50,000 and the interest rate was 11.63% which was bit high in the market . The tenure period was 20 years . The loan process was very easy here.There is no processing fee also. My overall expererenc was good.
      Was this review helpful? 7
      , godhra
      Reviewed on Dec 05, 2017
    • SBI Home Loan
      "Home loan process is very slow and not co-operative"
      0.5 1.0/5 "Really Bad"
      Dear All, SBI home loan process is very slow, SBI staff is not co-operative, I have submitted all the required documents for loan process n told me that your home will be passed in one month , they have taken 2month for entire process , suddenly they told me that your home loan application is rejected due development agreement is not registered which is taken 2month. My building has society formed and OC, many people got loan from SBI for my same building now they are saying that your development agreement is not registered which is wrong said in last stage. Kindly all, do not apply home loan in SBI , because they don't asses good customer , I got very negative publicity while applied home loan in SBI but I was pretty comfort with SBI but it is sure that I was wrong to apply loan in SBI. SBI's time mgmt, decision making and transparency is very poor.
      Was this review helpful? 5
      , mumbai
      Reviewed on Dec 03, 2017
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