A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 6 SBI Flexi Pay Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 8.75% Floating
    0.35% (max. 10,000) + S.T.
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.35% - 8.70% Floating
    0.35% (max. 10,000) + S.T.
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.6% - 8.7% Floating
    0.35% (max. 10,000) + S.T.
    20L - 10Crs
    25-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.55% - 8.70% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.55% - 8.70% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.35% - 8.40% Fixed/Floating
    0.35% (max. ₹10,000) + S.T.
    5 L to 30 L
    3-30 Years
    Response Time Within 30 minutes
    Rs.5,000 Amazon voucher free
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    SBI Flexi Pay Home Loan is Rated as "Great!" by 955 Users

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    Promised Interest Rate

    Customer Service

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    Home Loan BYTES FROM OUR KITCHEN

    SBI Flexi Pay Home Loan

    Dating back to 1806, State Bank of India has a rich history in the field of banking and and financial services. This government-owned corporation is headquartered in Mumbai and has over 16,300 branches, in both India and abroad. In fact, the company has spread its wings into 36 countries with 191 foreign offices.

    Home loans are only one of the company’s many financial products which include corporate banking, investment banking, finance and insurance, among much, much more. The newly launched SBI Flexi Pay Home Loan has become an instant hit in the market because of the flexible features, making the dream of owning a home a reality even for young earners.

    Home Loan Offers

    Features of SBI Flexi Pay Home Loan:

    If you have been turned down from availing a home loan before because you were not eligible, it may be time to look at SBI Flexi Pay Home Loan to meet your need. This home loan has up to 1.2 times higher loan eligibility than loan eligibility you would get with normal Home Loan schemes. Applicants must take out a Loan amount of at least Rs.20 Lacs with this particular type of loan.

    The highlight of the SBI Flexi Pay Home Loan is that customer will not buckle under very high EMIs because they have the option of paying only interest during the moratorium (pre-EMI) period. After this period they can pay moderated EMIs. During the subsequent years, the EMIs will be stepped-up.

    Customers can select moratorium of up to 36 - 60 months during which time only the interest has to be repaid.

    There is also an option of longer repayment (25 to 30 years). In case customers want to make prepayments they will not be charged any prepayment penalty.

    EMI Calculator:

    There is a simple-to-use EMI Calculator provided on the SBI home loans page. The tab can be found on the right hand side. On the EMI calculator page you will have to enter the amount, duration and interest rate. Once you press calculate, the EMI will be shown.

    Eligibility:

    • The SBI Flexi Pay Home Loan can be availed by executives/ working professionals.
    • Applicants must be salaried employees with a minimum of two years of experience.
    • Applicants must be aged between 21 years and 45 years.

    Documentation for SBI Flexi Pay Home Loan:

    • Duly filled loan application
    • Three Passport size photographs
    • Last six months’ Pass Book/ Statement of Bank Account
    • Signature identification from present bankers
    • Identity Proof (photocopies of Passport/ Voters ID card/ IT PAN card/ Driving licence/)
    • Personal Assets and Liabilities statement
    • Proof of residence (photo copies of recent Passport/ Electricity Bill/ Telephone Bills/ Property tax receipt/ Voters ID card)

    Additional documents required for salaried persons :

    • Last two financial years’ copy of IT Returns or TDS certificate on Form 16 which is duly acknowledged by IT Department.
    • Original Salary Certificate from employer

    Additional documents required for self- employed/ Professionals/ other IT assesses:

    • Proof of business address for non-salaried individuals
    • Proof of Advance Income Tax having been paid (photocopies of challans).
    • Copy of Acknowledged Assessment Orders/ I.T. returns for three years.

    FAQs:

    1. Can Home loan be taken over by SBI?

      Yes, however, the borrower must be eligible and fulfilling all the criteria of the Bank for availing Home Loan. Thus far, the borrower must have been up to date and regular with payments of interest and/or instalment according to the original terms of sanction. The borrower must possess all the valid documents which give evidence of the title to the house/flat.

      • Home Loan can be taken over from the following institutions:
      • Private and Foreign Banks
      • Scheduled Commercial Banks (SCBs)
      • Employers of the borrowers if they are State/ Central Government, or their undertakings or Public Sector Undertakings
      • Housing Finance Companies (HFCs) registered with National Housing Bank (NHB)
    2. What are the documents required for the home loan?
      • Duly filled loan application
      • Three Passport size photographs
      • Last six months’ Pass Book/ Statement of Bank Account
      • Signature identification from present bankers
      • Identity Proof (photo copies of Passport/ Voters ID card/ IT PAN card/ Driving licence/)
      • Personal Assets and Liabilities statement
      • Proof of residence (photo copies of recent Passport/ Electricity Bill/ Telephone Bills/ Property tax receipt/ Voters ID card)
      • Additional documents required for salaried persons :
        • Last two financial years’ copy of IT Returns or TDS certificate on Form 16 which is duly acknowledged by IT Department.
        • Original Salary Certificate from employer
      • Additional documents required for self- employed/ Professionals/ other IT assesses:
        • Proof of business address for non-salaried individuals
        • Proof of Advance Income Tax having been paid (photocopies of challans).
        • Copy of Acknowledged Assessment Orders/ I.T. returns for three years.
    3. Will I be charged for prepayment?

      No, there is no charge for prepayment.

    4. What are the criteria for eligibility to avail the loan?
      • The SBI Flexi Pay Home Loan can be availed by executives/ working professionals.
      • Applicants must be salaried employees with a minimum of two years of experience.
      • Applicants must be aged between 21 years and 45 years.
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  • SBI Flexi Pay Home Loan Reviews

    • SBI Home Loan
      "Happy banking"
      0.5 5.0/5 "Blown Away!"
      I approached State bank of India for the housing loan. When I approached them I got good response and they done with the process in a good way. The interest rate is around 9.5%. I am quite happy with the bank for the housing loan services. And the customer service is good.
      Was this review helpful? 3
      , mysore
      Reviewed on Jun 20, 2017
    • SBI Home Loan
      "Low interest rate"
      0.5 5.0/5 "Blown Away!"
      I got the home loan with the State bank of India and the interest rate is around 8.75%. The loan amount got disbursed to my account within fifteen days of time. Services are very good one with them. Documentation process is very nominal , also I got it through one of the agent.
      Was this review helpful? 1
      , pune
      Reviewed on Jun 19, 2017
    • SBI Home Loan
      "Need lot of improvement on customer service and the processi"
      0.5 4.0/5 "Great!"
      I do hold a home loan with State bank of India and the interest rate was around 8.65%, also I got the reminder up for the interest rate got reduced as 8.35%. Service aspects are okay. I would like to suggest that they could improve the response, also the customer service could be get improve a lot.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 17, 2017
    • SBI Home Loan
      "Overall good"
      0.5 4.0/5 "Great!"
      My process is on for the home loan with State Bank of India, and it has been a good experience till now. There are no hassles when it comes to services and response. The main part in the interest rate which is a good deal and the processing charges were also very much nominal.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 17, 2017
    • SBI Home Loan
      "Average one"
      0.5 3.0/5 "Satisfactory"
      I got the home loan with the State bank of India and the interest rate was very lesser one with them on that time. They have provided the loan amount after some long time like their processing time was very long time ,like it took around more than one month of time. They have provided around 80% of cost of home .
      Was this review helpful? 0
      , mumbai
      Reviewed on Jun 16, 2017
    • SBI Home Loan
      "Nice service"
      0.5 4.0/5 "Great!"
      Documentation process is very simple with State bank of India for the home loan. I availed the loan from the bank. The current interest rate is 9.35%. I am happy with the bank in terms of the home loan as they done the process without any hassles.
      Was this review helpful? 1
      , kolkata
      Reviewed on Jun 15, 2017
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have dropped the plan to get a home loan at present, so that was the reason I haven't proceed with the sbi home loan . The service with SBI was good and the executive gave a call and asked me to submit the documents with SBI. I have postponed my plan to next 6 months, I may be going with SBI that time. I am satisfied with SBI service.
      Was this review helpful? 0
      , noida
      Reviewed on Jun 14, 2017
    • SBI Home Loan
      "Satisfactory services"
      0.5 4.0/5 "Great!"
      So far so good with the home loan process at State Bank of India. The process is on and the overall experience is good and satisfactory. The documentation is normal and since I am an existing customer I am sure to get a better deal on the interest rate and charges.
      Was this review helpful? 0
      , mysore
      Reviewed on Jun 14, 2017
    • SBI Home Loan
      "Its Better"
      0.5 4.0/5 "Great!"
      I was postponed the decision to take home loan right now, I am planning to take it after two or three months later with same SBI bank. They ready to sanction 85% of loan on the property, It is very sufficient. I don't face any issues with them. I am happy about their service.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 14, 2017
    • SBI Home Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      The SBI executives gave a call and explained me about the product and they were in follow up on my home loan application. I got a prompt response from SBI, but then I have postponed my plan ,so that was the reason I can't proceed with the home loan with SBI. The rate of interest is nominal with SBI. The service rendered by SBI is very good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 14, 2017
    • SBI Home Loan
      "Good in Interest rate"
      0.5 5.0/5 "Blown Away!"
      SBI offers the lowest interest rate for the loan. I availed housing loan from them, the interest rate is 8.30% which is pretty good one as per the market rate. Customer service is satisfactory and they sanctioned the loan within 2 days. SBI is the right place for the loans. The interest rate is common for all the people.
      Was this review helpful? 0
      , raipur
      Reviewed on Jun 13, 2017
    • SBI Home Loan
      "Excellent Service"
      0.5 4.0/5 "Great!"
      My neighbor is a branch manager in Sbi, I got the home loan disbursement with his support and I have provided all the documents they have asked and he legally approved my loan. The rate of interest is nominal with SBI. The customer service and the response was good with SBI . I am happy about the loan amount and satisfied with the service.
      Was this review helpful? 0
      , pune
      Reviewed on Jun 12, 2017
    • SBI Home Loan
      "Reliable"
      0.5 3.5/5 "Pretty good"
      Currently, Home loan with the State bank of India is under process and the interest rate will be get confirmed , also they have not provided the 100% commitment there. Customer service is a kind of okay and the response was also not great okay for me.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2017
    • SBI Home Loan
      "Need to be quick in response"
      0.5 1.0/5 "Really Bad"
      My home loan is still under process after 4 months, since for past 4 months I am waiting for the status, but there is no response from SBI. They are not at all giving the status of the product. I had already done with the documentation still I didn't get any kind of status with my loan application. The rate of interest is low and the processing fee is also reasonable with SBI. The response part need to be improved with SBI.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 12, 2017
    • SBI Home Loan
      "Fast Service"
      0.5 5.0/5 "Blown Away!"
      During the year of 2010, I availed housing loan from State bank of India. Even I had taken the top up as well. SBI done with the loan process in a fast way. I had submitted all the required documents to avail the loan. The rate of interest is 8.75% which is very normal when compared with other banks.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jun 10, 2017
    • SBI Home Loan
      "Best bank to take a home loan"
      0.5 4.0/5 "Great!"
      I had taken SBI home loan before four years, at the time I got an offer for 9.8%, now they reversed my interest rate around 9.15% on home loan. I took the loan of Rs. 23 lakhs for the tenure of 15 years. SBI offered me floating interest rate. I didn't find any hidden charges till date.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 09, 2017
    • SBI Home Loan
      "Good bank for loans"
      0.5 5.0/5 "Blown Away!"
      I had got the best deal from SBI on my housing loan. Interest rate when compared with any other banks is way too good , even the loan process is excellent. They will disburse the loan amount without any hassles. SBI is recommendable for any kind of loans like personal loan, car loan and home loan etc.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 08, 2017
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      During the year 2006, I had taken a home loan from SBI. The rate of interest was around 13.5% at that time and it is bit high. EMI will be deducted from my salary account every month 31000 approximately for 15 years , so I do not have any interactions with the customer service executives till date.
      Was this review helpful? 1
      , tinsukia
      Reviewed on Jun 07, 2017
    • SBI Home Loan
      "Best offer in the market"
      0.5 5.0/5 "Blown Away!"
      I had finalized the independent house, so I requested 50% of amount of the property, they disbursed the amount within the time. I had submitted all the documents through the legal advisor. SBI offered me an interest rate of around 8% which is the least in the market.
      Was this review helpful? 0
      , udupi
      Reviewed on Jun 07, 2017
    • SBI Home Loan
      "Good Process"
      0.5 5.0/5 "Blown Away!"
      Five years ago I had taken a housing loan from State bank of India. I am happy with the loan process, the bank processed the loan in a proper way and there was no challenges during the process. The rate of interest is very normal and the customer service is good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 06, 2017
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