A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Custom Free

    Custom quote

  • SBI Home Loan

    Loading your search...
  • State Bank of India offers attractive interest rates on home loans starting at 8.40% p.a.The loan tenure can be extended up to 30 years, ensuring a comfortable repayment period.

    The processing fee on these loans is 0.35% of the loan amount (Min. Rs.2,000; Max. Rs.10,000) plus applicable taxes. Women borrowers are also offered an interest concession of 0.05% on SBI Home Loans. No hidden charges and a full waiver of prepayment charges make them one of the most preferred housing loan products in the country.

    We found 1 SBI Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% Floating
    ₹2,000 - ₹10,000 One time fee
    1 - 30 Years
    What you'll love
    Think about
    Good to Know

    SBI Home Loan Details

    Interest Rate 8.40% p.a. – 10.15% p.a.
    Loan Amount Based on eligibility
    Processing Fees 0.17%
    Prepayment/Foreclosure Charges Nil
    Max Tenure 30 Years
    Rate Packages Available Floating
    SBI offers a concession on home loan interest rates up to 31 March 2023

    State Bank of India is offering a concession on home loan interest rates between 15 basis points and 30 basis points and January 2023 to 31 March 2023. The bank is providing lower interest rates during the festive season. Under the offer, the home loan interest rates range between 8.40% and 10.15%(for regular home loan) No processing fee will also be levied by SBI on top-up and regular home loans. Individuals must have a good CIBIL Score to avail the offer.

    SBI Home Loan Interest Rates 2023

    SBI offers floating-rate packages on their home loan. SBI interest rates are pegged to floating interest card rate which currently stands lowest at 8.85% p.a. (Updated on 24 Sep 2023).

    SBI Home Loan Scheme Interest Rates % p.a.
    Regular Home Loan 8.40% 10.15%
    Top-up Loan 9.10% to 9.30%
    Tribal Plus 9.25% to 9.45%
    CRE Home Loan 9.35% to 9.85%
    Realty Loan 9.45% to 9.85%
    P-LAP 10.90% to 11.30%

    Note: As per a notification sent by the Reserve Bank of India (RBI),the interest rate External Benchmark (EBLR) may be reset by the bank as per the extant guidelines of the bank that are in force from time to time.Earlier,the EBLR was reset by the bank on the first day of a calendar quarter.

    The interest rates mentioned in the table above are based on CIBIL score. For more information, contact the bank.

    • Female borrowers are eligible for a concession of 5 bps subject to a minimum EBLR.
    • For loan amounts of more than Rs.2 crore and less than Rs.20 lakh under the Overdraft category, top-up loans are not available
    • A premium of 10 bps will be applicable to loan amounts of up to Rs.30 lakh in the case of LTV of more than 80% to 90%.

    Compare: Home Loan Interest Rate all Banks

    SBI Home Loan EMI Calculator

    Before taking a home loan from SBI, it’d be a good idea to check whether you will be able to pay the monthly instalments. The easiest way to do this is to use Home Loan Calculator. Just enter the proposed loan amount, the tenure of the loan, the interest rate the bank is offering you, and the processing fee. Not entering the processing fee will not affect your results, but the other three inputs are mandatory to get precise results.

    SBI Home Loan EMI Calculation
    Amount 10 years 20 years 30 years
    Rs.10 lakh Rs.12,749 Rs.9,094 Rs.8,154
    Rs.20 lakh Rs.25,498 Rs.18,188 Rs.16,309
    Rs.40 lakh Rs.50,996 Rs.36,376 Rs.32,618
    Rs.50 lakh Rs.63,744 Rs.45,470 Rs.40,772

    *Interest rate of 8.40% p.a. has been taken into consideration for this loan EMI illustration. However, the final rate offered is solely at the discretion of the bank. Your final EMI amount can vary based on the rate offered to you by the bank.

    SBI Home Loan Schemes

    1. SBI Regular Home Loan
      • Interest rate: 8.40% p.a. onwards
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • 0.05% lower interest rate for women
      • Zero charges on pre-payments
      • Available for applicants aged between 18 and 70
    2. SBI Flexipay Home Loan
      • Interest rate: 8.40% p.a. onwards
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • Choice to repay just the interest component during the pre-EMI period
      • Step-up EMIs in the following years
      • 20% improvement in home loan eligibility for younger professionals
    3. SBI Tribal Plus
      • Interest rate: 9.25% p.a. onwards.
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • Specially for people living in tribal areas or hilly areas
      • Repayment tenure of a maximum of 15 years
      • Land mortgage not required; third-party guarantor allowed
    4. SBI Home Loan to Non-Salaried Differential offerings
      • Interest rate: 8.85% p.a. onwards
      • Contact the bank to find out the interest rate offered
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • Exclusive scheme for individuals who have an income but do not earn a monthly salary
      • Special offers on loans for buying a new residential unit, constructing a house, renovating or repairing your house, or transferring your loan from another bank
      • Available for proprietors, partners, and directors of companies as well
      • Loan amounts ranging between Rs.50,000 and Rs.50 crore
    5. SBI Pre-Approved Home Loan (PAL)
      • Interest rate: 9.65% p.a. onwards
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • Loan sanctioned before a property is finalised
      • Gives you more negotiating power with the seller or builder
      • Benefits similar to that of the SBI Regular Home Loan
    6. SBI Earnest Money Deposit (EMD)
      • Interest rate: 12.95% p.a.
      • Processing fee: 0.5% of the loan (min. Rs.1,000)
      • Funds to pay the advance amount for booking a house or plot
      • Can only be taken to pay booking amount for houses/plots sold by urban development authorities, housing boards, and other government entities
      • Short-term loans of one year
    7. SBI NRI Home Loan
      • Interest rate: 8.85% p.a. onwards
      • Contact the bank to find out the interest rate offered
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • Specifically for Non-Resident Indians (NRIs) to buy a house in India
      • Discount on interest rate for women applicants
      • No extra fees or interest rates when compared with Regular Home Loan
    8. SBI Realty Home Loan
      • Interest rate: 9.45% p.a. onwards.
      • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
      • Meant for purchase of a plot of land to construct your own house
      • Borrowing limit of up to Rs.15 crore with repayment tenures of up to 10 years
      • Option to take a separate SBI home loan for the actual construction
    9. SBI Commercial Real Estate (CRE) Home Loan
      • Interest rate: 9.35% p.a. onwards.
      • Processing fee: 0.35% of the loan amount (min. Rs.5,000)
      • Curated scheme for people who already own two or more houses and want to buy more
      • Max. 3 houses can be bought under this scheme
      • Benefits such as lower interest rate for women and overdraft facility available
    10. SBI Reverse Mortgage Loan
      • Interest rate: 11.55% p.a. onwards.
      • Processing fee: 0.50% of the loan amount (min. Rs.2,000; max. Rs.20,000)
      • Specifically for senior citizens with a property owned or occupied by them
      • Helps generate or supplement income after retirement
      • Loan need not be repaid during the borrower’s lifetime
    11. SBI Pradhan Mantri Awas Yojana Subsidy Scheme

      If you meet the eligibility criteria of PMAY, then you can apply for it through SBI’s home loans such as the Regular Home Loan, Flexipay Home Loan, Privilege Home Loan, and others. Check with the bank whether you can apply for PMAY on your existing or new home loan.
      Pradhan Mantri Awas Yojana can help you save money on your first house. Under the scheme, you can get subsidy of up to Rs.2.67 lakh. The subsidy is available to individuals earning up to Rs.18 lakh per year. The maximum loan tenure can be 20 years.

    12. SBI Surakhsha

      State Bank of India's SBI Suraksha is a life insurance policy linked to the bank's home loan. The premium of this life insurance policy is paid by the bank. The repayment duration is the same as the tenure of the home loan as Equated Monthly Instalments (EMI). This is available to new home loan customers and also to existing home loan customers who have chosen the SBI Life Cover.

    Other Housing Loans Offered by State Bank of India

    • SBI Home Top Up Loan: 9.55% to 10.15%
    • SBI Smart Home Top Up Loan: 9.75% to 10.15%
    • SBI Insta Home Top-Up Loan: 9.75%
    • SBI Maxgain:Overdraft version of home loans instead of a term loan; allows you to repay through EMIs, with overdraft drawing power reducing with each payment.
    • SBI Green Home Loan:Perks for individuals who buy “green homes” in projects that use renewable energy and have low carbon emissions.
    • SBI Pre-EMI Interest by Builders Scheme:Builders registered under the bank’s Builder Tie Up arrangement pay the buyer’s pre-EMIs at a fixed interest rate.

    SBI Home Loan Eligibility Requirements

    The loan eligibility criteria for SBI home loans are as given below:

    • Eligible Age: Minimum: 18 years; Maximum: 70 years
    • Nationality: Resident and Non-resident Indian

    Documents Required for SBI Home Loan Application

    General for all applicants:

    • Duly filled in loan application form
    • Three passport-size photographs
    • Proof of Residence (one): Latest utility bill or copy of Aadhaar card, driving licence, or passport Proof of identity (one): Voter ID card, PAN, driver's licence, or passport
    • Employer identity card

    Proof of income for salaried applicant/guarantor/co-applicant:

    • Salary certificate or salary slips for the previous three months
    • Copy of IT Returns for the previous two financial years or
    • Copy of Form 16 for the previous two years

    Proof of income for non-salaried applicant/guarantor/co-applicant:

    • IT returns of the previous three years
    • Balance Sheet of the previous three years
    • Profit & Loss account of the previous three years
    • Details of business license or equivalent
    • Form 16A or TDS certificate, if applicable
    • For professionals: Certificate of qualification
    • Proof of business address

    Account statement:

    • Bank account statements of the previous six months for all bank accounts held by applicant
    • Loan account statement of the previous one year if another loan is currently active

    Property papers:

    • Copy of approved blueprint
    • Occupancy Certificate (for ready-to-move property)
    • Conveyance Deed (For New Property)
    • Permission for construction (where applicable)
    • Stamped Agreement for Sale or Allotment Letter Maintenance bill
    • Electricity bill
    • Property tax receipt
    • Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
    • Bank account statements or payment receipts of payments to seller or builder
    • Registered Agreement for Sale (for Maharashtra)
    • Share Certificate (for Maharashtra)

    How to Apply for SBI Home Loan

    You can apply for a home loan from SBI in two simple ways:

    1. Offline: Visit the nearest branch of the bank with all the required documents, request the application form, fill it in correctly, and submit it to the bank official.
    2. Online: Visit the official website of SBI and apply online leaving your contact details on the application form. You will receive a call back from the bank's representative.

    SBI Home Loan Customer Care

    You can contact SBI home loan customer care through the following ways:

    Toll-free number: 1800-11-2018

    Postal Address:

    Real Estate and Housing Business Unit,
    State Bank of India, Corporate Center
    Madame Cama Road,
    State Bank Bhavan, Nariman Point,

    FAQs on SBI Home Loan

    1. When does the interest rate of SBI home loans change?

      Subsequent to any change in the repo rate of the Reserve Bank of India, SBI's home loan interest rates change on the first day of the calendar quarter.

    2. For SBI balance transfer loans, is the pre-payment penalty also included?

      Yes, the prepayment penalty will be funded in the SBI balance transfer loans but the total loan amount will be subject to the eligibility as per the relevant SBI home loan scheme.

    3. What are the processing fees for SBI home loans?

      SBI home loans have a consolidated processing fee which is 0.40% of the loan amount plus the applicable GST. The minimum amount is Rs.10,000 plus GST while the maximum amount is Rs.30,000 plus GST.

    4. Does SBI give pre-approved home loans?

      Yes, SBI does give pre-approved home loans for which you can contact the bank for more details.

    5. Does SBI home loan take the salary of the spouse into consideration?

      If the spouse is the co-owner of the property that is being bought with the loan, or is a guarantor of the loan, then the salary of the spouse is taken into account when determining the loan amount.


    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.