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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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    Eligibility Criteria
    SBI Plot Loan is Rated as "Great!" by 1160 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.

    SBI Plot Loan

    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)

    SBI Plot Loan Reviews

    • SBI Home Loan
      "Good experience"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan from SBI and the approved loan amount is 20 lakhs. The interest for the approved loan amount is 8.2%. They do have pre-closure and part payment facility is available. The monthly EMI is 19200 which i have to pay for 20 years.
      Was this review helpful? 0
      , pune
      Reviewed on Apr 17, 2018
    • SBI Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have my home loan with SBI which was taken 5 years back. The loan amount was 30 lakhs and the interest rate was 8.4% which is average . The tenure period was 20 years . The process was smooth and hassle free . They have sanctioned the loan with the committed time .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 12, 2018
    • SBI Home Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The state bank of India home loan service is not up to the mark and we have very huge process to avail a home loan from the STATE BANK OF INDIA. Without a broker we cannot get a home loan from the State bank of India. The rate of interest and the charges are average when compared with other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 10, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have got the home loan from the STATE BANK OF INDIA around 9years ago. The customer support service is average with the SBI and I have got the loan amount within a month time. The rate of interest is good with the STATE BANK OF INDIA when compared with other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 04, 2018
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The home loan service is not up to the mark with the State bank of India and they give average service to the customers. I have got the home loan from the State bank around 9 years ago. The required loan amount has been given and rate of interest and the charges were high when I was availing the loan but at present they have reduced it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 02, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a home loan with State Bank of Mysore and my loan experience was good. The loan amount was for Rs 50 lakhs with nominal interest rate when compared to other banks. The process was smooth and i received my loan amount on time. Customer service was good and i preclosed the loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 31, 2018
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have applied for home loan with the STATE BANK OF INDIA and they have made proper back ground verification and while getting the loan it is difficult because they ask us to produce lot of documents and etc. The process need to be digitized.
      Was this review helpful? 0
      , kolkata
      Reviewed on Mar 23, 2018
    • SBI Home Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I have my home loan with SBI which was taken 4 years back. The loan amount was 18 lakhs and the interest rate was 8.9% which is satisfactory . The tenure period was 30,years . The process was not eats and everything was so manual. They did not provided door step service for collecting documents. My overall experience was not good.
      Was this review helpful? 0
      , chennai
      Reviewed on Mar 21, 2018
    • SBI Home Loan
      "Experience is good"
      0.5 5.0/5 "Blown Away!"
      My home loan is with State Bank of India. The customer services and response is good and in one shot they done all the process over the phone and through the net banking. Only once I had to visit the bank. They have also sanctioned a huge amount of money. The rate of interest and processing charges are normal.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 19, 2018
    • SBI Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with SBI and my experience was very good, the loan amount was for Rs 6 lakhs with nominal rate of interest when compared to all other banks. The process was smooth and i received my loan amount on time. Customer service was good and they followed up on time. The tenure of this loan is 20 years.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 16, 2018
    • SBI Home Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      It was a very good experience with State Bank of India for the home loan. There was a 25% low in the process. The customer services and response is also good and there are no hassles. The documentation is also done on time and the disbursement was timely too.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 16, 2018
    • SBI Home Loan
      "SBI LOAn"
      0.5 1.5/5 "Bad"
      Hi , I have taken home from SBI couple of weeks back. AS such when i tried to get details for PMAY I unable to get proper response from banker/co-ordinator whom involved to get home loan. But I got home loan early. As well as regarding Interest change also I have n't get proper response ( 8.3 or 8.5). Without knowingly they deducted some amount directly from my Account
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 16, 2018
    • SBI Home Loan
      "Satisfactory"
      0.5 3.0/5 "Satisfactory"
      I have my home loan with SBI which was taken 8 years back. The loan amount was 29 lakhs . The interest rate was 8.45% which is average in the market . The tenure period as 20 years . The loan process was very tedious and lot of documents to submit. Here the processing fee was nominal. My overall experience was satisfactory .
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 15, 2018
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The process was good with the STATE BANK OF INDIA in regards to my home loan service. The customer support service is good with the STATE BANK OF INDIA and they gave me better response in regards to my loan disbursement. They took around a month time to disburse the loan amount.
      Was this review helpful? 0
      , pune
      Reviewed on Mar 14, 2018
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My home loan experience with SBI was average, the process was very long and it took 1 month to receive the loan amount. The loan amount was for Rs 25 lakhs with 9.5% as rate of interest. Customer service was average and their response was delayed. The tenure of this loan is 15 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Mar 05, 2018
    • SBI Home Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      My home loan was taken with SBI 3 months back.The loan amount was 34lakhs and the Interest rate was 8.40% which is satisfactory . The customer service and responses was very good The tenure period was 36 months. The loan process was smooth and hassle free . They have provided door step service for collecting documents.
      Was this review helpful? 0
      , faridabad
      Reviewed on Mar 03, 2018
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken Home loan with State bank of India,the loan amount is 30 lakhs,the rate of interest is very low as compared to others.The tenure is for 20 years.I need to visit the branch and the net banking as well as App is not ths5 great.They had processed the loan within a day with documentation.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 27, 2018
    • SBI Home Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have a Home loan with Sbi,the service is good with Sbi. They offer me with rate of interest of 8.3 %. The documents procedure was been smooth they collected from my office but it was little long process. I feel they needs some more clarity in their communication,it is a average service from Sbi home loan department.
      Was this review helpful? 0
      , mumbai
      Reviewed on Feb 27, 2018
    • SBI Home Loan
      "Can be more proactive"
      0.5 3.5/5 "Pretty good"
      It is not a easy process to get a loan from State Bank of India. I have taken my home loan from them and the process too long and it is very tough to get the loan. There are too much of documentation. The rate of interest is normal. The reason I still go ahead with the bank is because they are standard and reliable and my salary account is also with them so it is easy to make the payments.
      Was this review helpful? 0
      , bellary
      Reviewed on Feb 26, 2018
    • 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
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