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% - 8.70% Floating
    ₹2,000 to ₹10,000 + applicable tax
    -
    1-30 Years
    Response Time : Within 30 minutes
    What you'll love
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    Eligibility Criteria
    SBI Plot Loan is Rated as "Great!" by 1104 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:

      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
      "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? 0
      , 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? 5
      , 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? 3
      , mumbai
      Reviewed on Dec 03, 2017
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My home loan was taken with SBI for a quite long. I have chosen this bank because I had my saving account with them for a long period. The loan experience was good. The rate of interest and processing charges are nominal. The EMI payment is auto debited from my salary account.
      Was this review helpful? 1
      , bhubaneshwar
      Reviewed on Dec 02, 2017
    • SBI Home Loan
      "Its Best"
      0.5 5.0/5 "Blown Away!"
      SBI home loan interest rate is good, they offered me around 8.75% of interest for the tenure of 20 years. I took the amount Rs. 30 lakhs for apartment. But their SBI documentation was difficult, but their executive coordinated very well with me on loan process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 02, 2017
    • SBI Home Loan
      "WONDERFUL SERVICE"
      0.5 5.0/5 "Blown Away!"
      It was really a good experience that I had with SBI . I took this loan i the year of 2008. The rate of interest was low when compared with the other banks and same with the processing fee the best part there was the pre closure option with zero charges .i loved the customer service form the bank side . The bank provided me a full approval on the amount an the amount was disbursed in 1 year and 6 months.
      Was this review helpful? 2
      , indore
      Reviewed on Dec 01, 2017
    • SBI Home Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      it was a good experience with STATE BANK OF INDIA as i took a home loan form the sbi .there are so much of formalities were too much for the loan process in the state bank of India . the money got Disbursed in a months time and it was a Full approval i got from the bank side on how much i asked for . the Rate of interest was 8.5% and the processing fee was there but low from the other banks . Lastly, I would like to say that their customer service is good.
      Was this review helpful? 2
      , una
      Reviewed on Dec 01, 2017
    • SBI Home Loan
      "Recommend for home loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with STATE BANK OF INDIA. The total approved amount is 20 lakhs with a rate of interest of 8.35%. The total tenure is for 15 years. The monthly EMI comes around 15500. Good documentation process. good customer service.
      Was this review helpful? 2
      , chennai
      Reviewed on Nov 25, 2017
    • SBI Home Loan
      "Good experience "
      0.5 4.5/5 "Excellent!"
      My home loan was taken with SBI 10 years back. The loan amount was 15 lakhs and the tenure period 20 years . The interest rate and charges are between 10-11%. The customer service and responses was is not good.The loan process was very easy and . My overall experience was good nad its recommendable.
      Was this review helpful? 0
      , new delhi
      Reviewed on Nov 25, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      State bank of India home loan service was awesome ,the documents part was also the customer service was prompt and the interest rate they quoted me was nice compare with others banks it was totally a good experience with state bank of India home loan service.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 25, 2017
    • SBI Home Loan
      " Preferable Bank"
      0.5 5.0/5 "Blown Away!"
      I have two loans with SBI, they gave me good floating interest rate. Earlier one was been Rs. 35 lakhs, now I have taken Rs.65 lakhs. Tenure period of the loan is good, they do have balance transfer, part payment, Foreclosure. Their is a onling banking to view loan summary. They fulfill by buy dream home, there is no legal issue.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have applied for the home loan from SBI, my loan application was closed because there was no proper follow up after the application was submitted. Customer service part was not up to the mark, they did not give any update on the loan status and there was no response from them. The rate of interest is quite high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • SBI Home Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      My home loan was taken with SBI 6 years back. The total duration was 15 years. I pay the premium of 30K for monthly through ECS. It was average process. They provided a doorstep service for documentation. The rate of interest is less when compared to others.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Nov 21, 2017
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I applied for a home loan with State Bank of India after I closed the home loan application with HDFC Limited. State Bank of India offered me the home loan with 8.4% as rate of interest and they waived off the processing fees. They were quick in processing the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • SBI Home Loan
      "Smooth experience"
      0.5 4.0/5 "Great!"
      I have taken a home loan with State Bank of India and it has been a good experience with them. The rate of interest is nominal and i am comfortable with it. It has been a smooth process throughout the initial procedures and as well as during the loan term with them
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 17, 2017
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      ,My home loan was taken with SBI 4-5 Years back . The loan amount was 20 lakhs and the interest rate was 8.5% which was average in the market. The MEI period was 17 years . The customer service and responsiveness was up the mark . The loan process was convenient .They have sanctioned the loan with the committed time. My overall experrenec was good.
      Was this review helpful? 0
      , pune
      Reviewed on Nov 17, 2017
    • SBI Home Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with state bank of India.The loan amount is 10 lakhs,rate on interest is 8.5% low compared to others.No processing fees were charged in my account.I pay an EMI of Rs 10900 every month.They had processed the loan request within 2 days.
      Was this review helpful? 0
      , nagpur
      Reviewed on Nov 16, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My home loan experience with SBI was good, i have taken loan for Rs 40 lakhs with the rate of interest of 8.25% which is less when compared to other banks, I pay an EMI of Rs 37000 every month. Customer service was good and they responded on time. The process was very smooth and there are no additional fees on preclosure and part payment charges.
      Was this review helpful? 0
      , bhilai
      Reviewed on Nov 16, 2017
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took the home loan with the State bank of India and the interest rate was really lesser one for the staff. I would like to say that the customer service is a fantastic one for me rather than any one because of the transparency.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2017
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