A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 1 SBI Home Loan Procedure

    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
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    Perks
    Fees & Charges
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    SBI Home Loan Procedure is Rated as "Great!" by 962 Users

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    Home Loan BYTES FROM OUR KITCHEN

    SBI Home Loan

    Home Loans from offered by State Bank of India are built on a robust foundation of transparency and trust. With its low interest rates, affordable processing fees and no hidden costs, the SBI Home Loan is an ideal choice for borrowers. You can avail SBI Home Loan from over 15,969 branches in the country.

    SBI Home Loans Procedure:

    The process of applying for a home loan can be described in the following steps:

    Step 1: Keeping the Property related Documents ready

    You must have all the legal documents related to your property from your builder, in hand, before you apply for the home loan from SBI. It usually comprises of the booking receipt as well as the copy of the cheque.

    Step 2: Taking Legal Opinion

    With all the required legal documents, you must go to an advocate who is a part of the SBI panel and get them verified. He will need to verify the Sales Agreement & Construction Agreement. Sometimes the document such as Encumbrance certificate, receipt of the tax paid till date, is required. As this step could require a lot of documents from various sources, this could take the longest time.

    Step 3: Valuation of Property

    After the legal valuation is complete, the property needs to be evaluated by a property valuator belonging to the SBI panel. Once he valuates the property, a letter is given to you.

    Step 4: E-stamping or Franking of Agreement

    It is mandatory for a SBI Home Loan that the Sales and construction agreement is franked or e-stamped. The value of e-stamping may differ based on the value of your property. Franking can be done at the register office, while e-stamping can be done at select register offices, post offices and syndicate banks.

    Step 5: Submission of Application

    Once the above steps are complete, along with the documents and the application form, the borrower must visit SBI.  The documents that need to be submitted are the legal opinion, valuator statement and others, as per the bank requires you to.

    Step 6:  Wait Period

    The waiting period for the approval of the loan may vary from person to person. The special home loan branch can disburse the loan within three days. However, periodic follow-ups are required, asking for the inspection to be done and other things that accelerate the process.

    Step 7: Documentation

    SBI will give you a call as soon as they sanction the loan. You will then be asked to submit some more documents including the following:

    • Two E-stamps worth Rs.400, where you are the first party and SBI is the second party.
    • E-stamp worth Rs.200, where the parties are same as above.
    • E-stamp worth Rs.200, where first party is the guarantor and SBI is the second party.
    • All documents submitted while loan application.
    • Cheques in favour of State Bank of India.

    You as well as your guarantor needs to be present at the bank with all the above documents.

    Step 8: Loan Disbursement

    Once the loan is sanctioned by the SBI, borrower must attain the following documents from the builder:

    NOC stating that the property is not mortgaged at any other bank.

    Tripartite agreement, if the property is under construction.

    Demand note from the builder, matching the payment schedule.

    Step 9: Registration

    Before the registration process, verify the stamp duty and inform the bank of the same. Once the registration process is complete, an officer from the SBI bank visits you to hand over the DD to the builder or sometimes, even you may be asked to collect it from your branch.

    SBI Home Loans are a great choice for home loan borrowers as there is no prepayment penalty and you can decrease your interest by prepaying the loan without a worry. 

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  • SBI Home Loan Procedure Reviews

    • 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
    • SBI Home Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      I had taken home loan from State bank of India about three months ago. Interest rate is eight to nine percentage. Processing fee is two thousand rupees. The tenure is for twenty five years. Loan process went good and they sanctioned the loan on time.
      Was this review helpful? 1
      , jaipur
      Reviewed on Jul 01, 2017
    • SBI Home Loan
      "Best offer in the market"
      0.5 5.0/5 "Blown Away!"
      Compare to private banks, SBI requested for lot of documents, once I provided all the documents process went smooth. SBI sanctioned 80% loan on the estimated cost, I took the loan amount of Rs. 20 lakhs for the tenure of 20 years. SBI offered me 9.5% of interest on initial stage then reversed for 9.25% its low.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 29, 2017
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have received a home loan from SBI on 2013. I got the SBI home loan within 10 to 12 days of time. I am happy about the loan amount. The rate of interest was low, when compared with others. The customer service with SBI is really good. I am satisfied with the home loan service offered by SBI.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Jun 27, 2017
    • 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? 4
      , 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? 2
      , 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? 3
      , 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? 2
      , 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? 2
      , 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? 3
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 2
      , bangalore
      Reviewed on Jun 12, 2017
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