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
    8.35% - 8.70% Floating
    ₹2,000 to ₹10,000 + applicable tax
    -
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria

    SBI Plot Loan is Rated as "Great!" by 978 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.

    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)

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  • SBI Plot Loan Reviews

    • SBI Home Loan
      "Needs improvement when it comes to service"
      0.5 5.0/5 "Blown Away!"
      Everything is fine, however they have a very lenghty process I was made to visit the branch for each and every thing. Otherwise I am happy with the customer service however they are not doing good when it comes to overall service
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 18, 2017
    • SBI Home Loan
      "Home loan"
      0.5 5.0/5 "Blown Away!"
      Thankfully SBI has offered this housing loan to me. Being a joint account holder, I am very much happy in taking the housing loan, my income was very less but they some how helped us which is the best part. Special efforts were actually taken by them they suggested stating that they can offer the loan by clubbing wife and husband's income so that we can take the loan easily . I am happy with the rates offered as it was floating . To conclude, I am completely happy with their service.
      Was this review helpful? 0
      , ernakulam
      Reviewed on Aug 16, 2017
    • SBI Home Loan
      "Need an improvement"
      0.5 1.0/5 "Really Bad"
      In the market other banks are providing home loan to a gram panchyat property but SBI is not providing the home loan. My property located in Channanagar at Hyderabad but SBI have rejected my application, their loan norms are very strict and they asking lot of documents with heavy paper works.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 16, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      The Overall process was very good from SBI home loans, The executives are really good and they were updating me the status on time to time. They have disbursed my loan within 2 weeks of time. I am happy with the loan amount . The rate of interest is nominal with SBI. I am satisfied with the SBI service.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 12, 2017
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      State of India has disbursed my home loan within the promised time. The verification and the documentation process was good with SBI. I got good response from SBI in concern to my home loan application. The rate of interest was nominal with SBI. I am happy taking a home loan with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 12, 2017
    • SBI Home Loan
      "Hassle free process"
      0.5 5.0/5 "Blown Away!"
      SBI housing loan process is hassle free unlike other banks they dont take much time to process the loan and to top it off there are no hidden charges too. They verify all kinds of documents the lagging part would be too much of documents they dont have a unique format for the documentation and they should try and bring in a standard format.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 10, 2017
    • SBI Home Loan
      "Long Process"
      0.5 4.0/5 "Great!"
      I do have home loan with State bank of India for the past four years. But during the loan process, they took so much of time. Almost it took one month to complete the loan process. But then the process went good and I have no issues with the bank...
      Was this review helpful? 0
      , guntur
      Reviewed on Aug 09, 2017
    • SBI Home Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      My home loan is from State Bank of India. Even though I applied in the month of April. I got the rate of interest of June and the loan letter had Aprils date on it. I got 0.5 lesser on the interest rate. The rate was of 8.65%, it was a max scheme and the processing fees was zero for the initial loan and the top up loan had a fee.
      Was this review helpful? 0
      , pune
      Reviewed on Aug 07, 2017
    • SBI Home Loan
      "Customer friendly Bank"
      0.5 3.0/5 "Satisfactory"
      SBI delayed the loan process, they have committed within one week amount get disburse. But while processing they have taken one and half months to process. SBI have sanctioned the required amount with the interest rate of 8.55% it is reasonable as per the market.
      Was this review helpful? 0
      , jaipur
      Reviewed on Aug 05, 2017
    • SBI Home Loan
      "Excellent bank"
      0.5 5.0/5 "Blown Away!"
      My home loan is from State Bank of India and it was a very nice experience right through the process. Mr. Kalyan from the bank has been helpful during the process. The rate of interest was of 8.65% on a floating basis and the processing charges was normal too.
      Was this review helpful? 0
      , chennai
      Reviewed on Aug 05, 2017
    • SBI Home Loan
      "Its Good"
      0.5 5.0/5 "Blown Away!"
      SBI offered me 8.35% of interest for the housing loan, but I was expecting around 8.25%. Hence it would great if they reduce the interest rate, as per the RBI rules guidance. But SBI have sanctioned full amount what I have requested to them its good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 05, 2017
    • SBI Home Loan
      "Trusted housing loan"
      0.5 4.0/5 "Great!"
      SBI loan process is good, but customer response is not upto the mark. Rate of interest which SBI provided was good and the charges was nominal. But I didn't get new reversal interest rate after RBI cuts off. But SBI gives benefits to the loan borrower and the builder.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 05, 2017
    • SBI Home Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      I took the housing loan from SBI before five years at the time interest rate was low. I took the home loan of around Rs.20 lakhs for the tenure of 20 years. I done a preclosure without paying any interest and I got the NOC from the bank. It was good experience with them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 03, 2017
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I got the home loan in the year of 2013 with State bank of India. The customer service and the response was good with State Bank . They have disbursed my loan within a month time. The required loan amount has been approved and as per my eligibility they have given the loan amount and I am happy about it. The rate of interest is low when compared with others.
      Was this review helpful? 0
      , nellore
      Reviewed on Aug 03, 2017
    • SBI Home Loan
      "Can be improved"
      0.5 3.0/5 "Satisfactory"
      I did not avail home loan from State bank of India because they are providing the home loan up to twenty five to twenty six lakhs but where in other banks like HDFC they are ready to provide the loan between thirty to fourty lakhs. Hence I availed the loan from HDFC Ltd.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 02, 2017
    • SBI Home Loan
      "Good when it comes to interest rate"
      0.5 3.5/5 "Pretty good"
      Everything went well with the home loan process of State bank of India. I did not face any kind of issues or challenges with the bank during the loan process. But when it comes of other facilities like online, SBI needs to be improved a lot because for everything we need to approach the bank. As far as the rates are concerned it is the best.
      Was this review helpful? 0
      , mumbai
      Reviewed on Aug 01, 2017
    • SBI Home Loan
      "Easy and quick process"
      0.5 5.0/5 "Blown Away!"
      State Bank of India has offered me a home loan as well. The process to get the loan was not much. The documentation was simple and the disbursement happened on time too. The rate of interest and processing charges was also minimal for me. I had no hassles with the after loan services.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jul 23, 2017
    • SBI Home Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The state bank of India took around 3 months to disburse my home loan. The customer service and the response need quick and fast in future. The required loan amount has been given and I am satisfied. The rate of interest is nominal with SBI. I am happy with the SBI home loan service.
      Was this review helpful? 5
      , surat
      Reviewed on Jul 07, 2017
    • SBI Home Loan
      "Good Process"
      0.5 4.0/5 "Great!"
      I had take the home loan about six years ago. The interest rate is around 9.5% which is nominal. I got good service from SBI for the home loan process. They sanctioned the loan without any delay and done with the process in a good manner. I do not have any issues with SBI.
      Was this review helpful? 2
      , indore
      Reviewed on Jul 05, 2017
    • SBI Home Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      I took home loan from State bank of India. For the loan, the interest rate is around 8.65% and I am happy with with the services of SBI. Actually my salary account is with SBI so I preferred the same bank for the home loan.
      Was this review helpful? 1
      , nasik
      Reviewed on Jul 04, 2017
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