A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • SBI Smart Home Top Up Loan

    State Bank of India (SBI), the country’s largest bank offers you the option of availing a Smart home top-up loan. The top-up loan is a general-purpose loan and can be taken to meet the urgent requirements. You can avail up to Rs.5 lakh as loan under the scheme. The amount can be repaid in a period that ranges up to 20 years.

    SBI Smart Home Top Up Loan Interest rates

    The interest rates charged by the bank for availing SBI Smart Home top-up loan is listed in the table below:

    Particulars Salaried Individuals Non-Salaried Individuals
    Term Loan 8.05% p.a. 8.55% p.a.
    Overdraft 8.55% p.a. 9.05% p.a.

    If you avail Smart Home Top Up loan, a processing fee of Rs.2000 plus applicable Goods and Service Tax (GST) will be charged on the loan.

    Eligibility criteria

    The eligibility criteria which needs to be fulfilled to avail a smart home top up loan offered by the bank are as follows:

    • Can be availed by both Salaried and non-Salaried individuals
    • Must be a resident Indian or NRI
    • Should be between 18 years and 70 years of age
    • Must have a CIBIL score of 550 or higher
    • Should not have any other active home top-up or Insta top-up loans
    • Should have a satisfactory repayment record of 12 months or more after the completion of moratorium period

    Documents required

    You need not submit any documents to the authorities when looking to avail a Smart Home Top Up loan from the bank.

    Features and benefits

    The features and benefits that comes with taking an SBI Smart Home Top Up loan are listed below:

    • Loan is available as overdraft as well
    • There is no penalty for prepayment
    • There are no hidden charges
    • The processing fee is low
    • The loan gets processing quickly
    • You need not submit any documents

    FAQs

    1. Will the processing fee be recovered from the loan amount?

      Yes, the processing fee will be recovered from the loan amount.

    2. Can I just walk into an SBI branch and avail the Smart Home top - up loan?

      Yes, you can walk into an SBI branch and avail the loan. The entire process is a hassle-free one.

    3. If I make pre-payment, will the bank charge me a penalty?

      No penalty will be charged if you make pre-payment.

    4. What is the maximum loan amount that can be availed under the scheme?

      You can avail up to Rs.5 lakh as loan under the scheme.

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    SBI Smart Home Top Up Loan Reviews

    • SBI Home Loan
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have taken home loan directly through SBI .The rate of interest was nominal and this loan is still active .Everything was good to me when availed this loan .The loan process was clearly shared by the agent .I am really satisfied with the service . Without any hassles got this loan.
      Was this review helpful? 31
      , indore
      Reviewed on Mar 13, 2020
    • SBI
      SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      Myself approached SBI to apply for a home loan and taken the loan on 2016. The process was smooth and sanctioned with sufficient amount with tenure period of 20 yrs. The rate of interest was average around 8%, there is pre closure option and locking period of 1 year. EMI need to pay of 35K.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Mar 04, 2020
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a Home Loan from SBI through bank directly. The loan amount was 12L and the rate interest was 8.25% normal. Total amount I am paying of 11,400 rupees. 11K is EMI and the 400 rupees is for insurance with the tenure period of 20 years and I received the amount within 30 days.
      Was this review helpful? 10
      , vizianagaram
      Reviewed on Feb 04, 2020
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken home loan directly through SBI .The rate of interest was nominal and this loan is still active .For constructing home i have taken this loan .Everything was good to me when availed this loan .The loan process was clearly shared by the agent .I am really satisfied with the service . Without any hassles got this loan and i am really satisfied with the service .
      Was this review helpful? 3
      , bellary
      Reviewed on Feb 04, 2020
    • SBI Home Loan
      "Good Loan Service"
      0.5 4.0/5 "Great!"
      In SBI interest rate and external charges are less when compared to other bank, so that I have selected the home loan from this bank. I had already completed the loan. I got the loan in the year of 2011 and i have chosen the duration of 15 years but i have done a pre-closure without paying any additional charges. I bought the loan amount of Rs. 12 lakhs with the low interest rate of 10.25%. They took 1.5 months to sanctioned my loan.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jan 25, 2020
    • SBI Home Loan
      "SBI home loan service is very good"
      0.5 5.0/5 "Blown Away!"
      I had a home loan from SBI and the sales executive was best because no one provides me this much low rate of interest compared to any other banks but they needs so much documents and their mortgage they do is really worst. Its due to the low rate of interest, i have selected the home loan from SBI. They have offered me a interest rate of 8.24%.
      Was this review helpful? 9
      , ahmedabad
      Reviewed on Jan 21, 2020
    • SBI Home Loan
      "Easily accessible with less documents"
      0.5 4.0/5 "Great!"
      I have got a pre-approved home loan from SBI and they have given me a offer like that their interest rate is starting from 7% but they have provided me a interest rate 8.25%. I had applied the loan amount of Rs. 35 lakhs with the duration of 25 years. I heard that interest rates are low so i approached with them. I had a online contact number specially for my home loan so they directly approached my home. They are asking very less of documentation like current residential address, last 3 months payslip, my job offer letter. They have given me a link also to process the loan.
      Was this review helpful? 5
      , chennai
      Reviewed on Jan 18, 2020
    • SBI Home Loan
      "Good service "
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from SBI and they offered me a less rate of interest and i am not sure what i am paying. Customer service is good. Their online application is not a user friendly. I have taken a loan amount of Rs. 8,50,000 and there is no preclosure charges.
      Was this review helpful? 7
      , guntur
      Reviewed on Jan 09, 2020
    • SBI Home Loan
      "Need to improve in customer service"
      0.5 3.0/5 "Satisfactory"
      I have taken a home loan from SBI and they offered me a less rate of interest and i am not sure what i am paying because i recently done a balance transfer. Customer service is not upto the mark and they need to improve. Their online application is not a user friendly.
      Was this review helpful? 8
      , mumbai
      Reviewed on Dec 28, 2019
    • SBI Home Loan
      "Easy loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from SBI and the loan amount was Rs. 30 lakh. The rate of interest was 8.15% and i am paying EMI of Rs. 25k. Customer service was good. I received this loan instantly and i applied this loan through online channel.There is no pre closure charges.
      Was this review helpful? 12
      , pune
      Reviewed on Dec 09, 2019
    • SBI Home Loan
      "Before approval documentation process was fine"
      0.5 5.0/5 "Blown Away!"
      Purchased the home loan in SBI, 5 years back. I am paying the EMI amount of Rs. 22000 every months after i have taken the top up. They have provided me a interest rate of 7.25%. I got the loan amount of Rs. 27 lakhs and i have selected the tenure period of 240 months. They do have a partial payment and pre-closure facility without any additional charges.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Nov 12, 2019
    • SBI Home Loan
      "Good Home loan"
      0.5 4.0/5 "Great!"
      I never contacted SBI customer care service regarding a home loan services. Interest rate was less so I have chosen this bank for my home loan. The interest rate was nominal which is 8.35%. I got a loan amount of Rs. 50L and they are providing pre - closure and partial payment facility. I got a loan with in 1 week.
      Was this review helpful? 7
      , chennai
      Reviewed on Nov 08, 2019
    • SBI Home Loan
      "Best Loan service"
      0.5 4.0/5 "Great!"
      Home Loan services was fine from State bank of Travancore since i got the offer. Once i applied the loan, they approved the loan on the spot. I purchased the loan amount of Rs. 7 lakhs and the provided me a interest rate of 7.2% at the time of purchase in the year of 2008. But when i am closing the loan in the year of 2015, the interest rate was 8.5%. I have done the pre-closure and there is no additional charges for that.
      Was this review helpful? 9
      , tirunelveli
      Reviewed on Oct 23, 2019
    • SBI Home Loan
      "It's okay"
      0.5 4.0/5 "Great!"
      I had a home loan with State Bank of India and it was closed without any issues. They took longer time for the verification and lot of paper works. The interest rate is flexible and fine. There are charges for processing fee and plus insurance fee.
      Was this review helpful? 7
      , thiruvananthapuram
      Reviewed on Oct 17, 2019
    • SBI Home Loan
      "Excellent Loan Service"
      0.5 5.0/5 "Blown Away!"
      SBI Home Loan is excellent because I've a salary account with them. They offered me a interest rate of 9.5% approximately. I took the loan amount of Rs. 23 lakhs so far i have got only Rs. 16 lakhs since my building is under construction. My EMI is not yet started. They sanctioned the loan in 2 working days.
      Was this review helpful? 5
      , dindigul
      Reviewed on Oct 14, 2019
    • SBI Home Loan
      "Easy and best loan"
      0.5 5.0/5 "Blown Away!"
      SBI is a best bank and they had a better option. There is only simple documentation required and executive came to my place for collecting all the documents. I got the loan within 7 days. SBI did not taken any processing charges and they gave better and cheap interest. They take minimal time and better response from the customer care so i had chosen SBI for my home loan.
      Was this review helpful? 6
      , agra
      Reviewed on Oct 11, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through State Bank Of India .The rate of interest and the processing fee was nominal ,I have got the loan amount on time and got a clear picture about the loan process ,I have availed this loan for the tenure of 20 years .I have completed only 2 years of EMI so far .,
      Was this review helpful? 18
      , vizianagaram
      Reviewed on Oct 04, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Nearly 11 years before I had taken a home loan with STATE BANK OF INDIA which was processed directly to them.The loan amount was sufficient for the tenure period of 15 years. The rate of interest and processing fee are nominal. They have sanctioned a loan within few days and the process was good.
      Was this review helpful? 3
      , itanagar
      Reviewed on Oct 04, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a home loan with SBI bank about 5 years ago. It was processed through bank directly. The charges are nominal in this bank. Since I was holding a savings account process was smooth and done the process on time. The amount given for 23 lakhs not sufficient as per my requirement for the tenure of 15 years.
      Was this review helpful? 3
      , madurai
      Reviewed on Sep 15, 2019
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My Father has taken a home loan with State Bank of India. There was no hassle on the loan process, the manager was clearly explained about the charges. They have processed the loan faster and the rate of interest was reasonable when compared with other banks. We have purchased a residential property.
      Was this review helpful? 10
      , hyderabad
      Reviewed on Sep 14, 2019
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