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

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    9.15% - 9.3% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    9.10% - 9.25% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs Women's Special!
    1-30 Years
    Response Time Within 30 minutes
    9.25% - 9.3% Floating
    0% to 0.35% (max. ₹11,500)
    ₹ 20L - ₹ 10Crs SBI Flexipay
    25-30 Years
    Response Time Within 30 minutes

    SBI Home Loan is Rated as "Great!" by 716 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    State Bank of India (SBI), has many home loan schemes tailored to the needs of customers including SBI Maxgain, SBI Realty, SBI Home Plus & NRI Home Loans. Some of the advantages of an SBI housing loan are low interest rates with interest on daily reducing balance, low processing fees, no hidden cost & no administrative charges, plus zero prepayment penalties. View more details about SBI home loan below.


    You’re probably eligible for an SBI Home Loan if you are

    SBI Home Loan Minimum Age

    At least 18 years old

     SBI Home Loan Maximum Age

    Less than 60 years old

    SBI Home Loan Eligible Employment Type

    Salaried / Self-employed
    with regular income

    SBI Home Loan Minimum Income

    Earn more than the minimum
    income required


    Your SBI Home Loan amount eligibility is based on these factors

    SBI Home Loan Minimum Salary

    EMI limited to about 50%
    of monthly income

    SBI Home Loan Maximum Loan to property value

    Loan capped @ 80%
    of property value

    SBI Home Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible SBI Home Loan amount by these steps

    SBI Home Loan Add Spouse as Co-applicant

    Make your spouse a co-applicant,
    and her income will add
    to your eligibility

    SBI Home Loan Maximum Tenure

    Choose longer tenure loan up to 30 years

    SBI Home Loan Add parents as Co-applicant

    Alternatively add your parents


    Documentation needed to apply for an SBI Home Loan

    • 1. Signed application form with photograph
    • 2. ID and residence proof
    • 3. Processing fee cheque
    • 4. Last 6 months bank statements
    • 5. Documentation for salaried applicants:
      • Last 3 months salary-slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:
      • Education qualification certificate & proof of business existence
      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account


    SBI Home Loan Interest RatesUpdated on 05 Dec 2016

    SBI Home Loan Details
    Interest Rate For women - 9.10% to 9.25%
    For General Customers - 9.15% to 9.30%
    SBI Flexipay - 9.25% to 9.30%
    Processing Fees Up to 0.35% of Loan Amount, Maximum of Rs.11,500
    Loan Tenure 30 years
    SBI Flexipay - 25 to 30 years
    Pre-closure Charges Nil
    Partial Pre-Payment Charges Nil
    Guarantor Requirement No Guarantor Required


    Overview of SBI:

    State Bank of India (SBI) is a government owned banking and financial service organization. The bank is headquartered in Mumbai and is the largest banking institution of India in terms of assets. The bank has a massive presence in the country with over 17,000 branches spread across the nation’s length and breadth. Not only this, the bank has a huge international presence too with branches in over 34 countries of the world. SBI caters to a large base of individual and corporate clients and has operations in the fields of personal banking, investment banking, corporate banking, asset management and so on.

    SBI Home Loans:

    State Bank of India provides a range of home loan products to suit the individual needs and preferences of its customers. Various surveys and consumer awards have conferred the title of ‘The most preferred Home Loan Provider’, to SBI. Low interest rates, flexible payment options and zero hidden charges are some of the features that lend to the popularity of SBI home loans.

    With thousands of branches spread across various geographical locations has made SBI one of the most accessible banks to obtain a loan from.

    SBI Home Loan

    New SBI Bank Home Loan Interest Rate:

    SBI Home Loan not only offers attractive benefits and terms for its home loan options but the bank also offers low competitive rates on its home loan. As of May 3rd 2016, the interest rate for SBI home loan stands between 9.35% to 9.40%. The above mentioned rates are irrespective of the loan amount.

    SBI Home Loan Schemes:

    SBI offers a wide range of home loan products to its customers. You can choose the best home loan scheme that suits your budget and requirement. SBI home loans come with exclusive packages and benefits to cater to the home finance needs of all its customers. Following are some of the home loan options available from SBI.

    • SBI MaxGain Home Loan:

    The SBI MaxGain home loan aims to enable its customers to reduce their interest burden at no extra cost. This home loan acts as an overdraft account too, giving the customer privilege to withdraw and deposit amounts depending upon their cash availability. Bank provides internet banking and cheque book facility with this home loan. Excess funds when parked with this account impact the overall principal and the associated interest. Also, a customer can choose to withdraw amount from the linked account in case of excess parked funds.

        • Min. Loan Amount – 5 lacs
        • Max. Loan Amount – No upper limit
        • Interest Rate – 0.25% over and above the existing home loan interest
        • Higher Liquidity, Savings on total interest paid
        • Pre-closure Charges - Nil
        • Interest Rate – Floating 10.15%
    • SBI Yuva Home Loan

    This SBI home loan is tailored especially for individuals who are young and generally taking loan for their first home. The age eligibility is between 21-45 years. This loan grants an amount which is 20% over and above the regular loan amount. This home loan is ideal for fresh professionals and government employees. Under this scheme the home loan full repayment starts only after 36 month from the date of availing the loan. For the first 36 months only interest needs to be repaid.

        • Eligibility – 21-45 years
        • Minimum Income – Rs.30,000 per month
        • Pre-closure Charges - Nil
        • Interest Rate – Floating 10.15%
    • SBI NRI Home Loan

    As the name itself suggests, the NRI loan is tailored for Non-Resident Indians (NRIs) and for People of Indian Origin (PIOs). This loan is given to an individual who earns a regular income and whose minimum employment period (in India or abroad) is not be less than 2 years.

        • Min. Loan Amount – 3 lacs
        • Max. Loan Amount – No upper limit
        • Eligibility – NRI or PIO
        • Pre-closure Charges - Nil
        • Interest Rate – Floating 10.15%
    • SBI Realty:

    This SBI loan is for people who want to buy land or plot. The construction should commence within 2 years from the sanction date of the loan. This type of loan comes with the flexibility of availing another loan for construction purposes on the land bought. So a customer is entitled to avail two simultaneous loans on the SBI realty home loan.

        • Max. Loan Amount – 15 crores
        • Loan Tenure – Up to 15 years
        • Pre-closure Charges - Nil
        • Interest Rate – Floating 10.15%
    • SBI PAL

    This is a Pre-Approved Home Loan from State Bank of India. This loan does not depend upon the property to be bought. SBI grants its customers the freedom to avail the loan amount before deciding upon the property. This gives customers the needed confidence to negotiate boldly with builders/sellers regarding the price of the property.

        • Eligibility – Depends on the annual income of the applicant
        • Tenure – Pre-Approved Letter of arrangement is valid for a period of 4 months
        • Min Loan Amount – 10 Lacs
        • Max Loan Amount – No upper limit
        • Pre-closure Charges - Nil
        • Interest Rate – Floating 10.15%
    • Her Ghar Home Loan:

    This is a home loan scheme designed especially for women applicants. A woman needs to be the sole applicant or the primary applicant for this type of home loan. Also, the property for which home loan is being taken should be in the name of the woman applicant or she should be the primary owner in case it of joint ownership. This home loan scheme by SBI aims at enabling women to own property and carries a social obligation in line with the empowerment of women.

      • Loan Tenure – 30 years
      • Interest Rate – 9.85%
      • Pre-Payment Charges - Nil

    More Housing Loans from SBI:

    Apart from the above listed regular home loan schemes by State Bank of India, there are several other options also which aim to uplift people from tribal and village areas of the nation. These schemes are in line with the organization’s commitment towards comprehensive nation building.

    Here are a few such housing schemes offered by SBI-

    • SBI Tribal Plus:

    This housing loan from SBI is meant for customers who are from tribal areas or hilly regions where mortgage of property is not available. The loan is provided for construction of a new house or flat and for purchase of a new house. Under this scheme SBI also provides an option of taking loan for the purpose of renovation or repair.

        • Min. Amount – nil
        • Max. Amount- 10 lacs
        • Repayment Period – up to 15 years

    The Gram Niwas scheme from State Bank of India is aimed at providing housing finance to the customers from rural regions of the nation. This housing plan covers people from rural or semi-urban regions which have a population of less than 50,000 as per the 2001 census. Under this scheme, home loans can be availed for buying of land or house, renovation and repair of house and construction of house.

        • Min. Amount – nil
        • Max. Amount- 5 lacs
        • Repayment Period – up to 15 years

    Sahyog Niwas scheme aims to provide home loans to self-help groups which have a good credit history. The bank lends to members of these groups under this scheme for purposes of buying of land or house and construction, repair or renovation.

      • Min. Amount – nil
      • Max. Amount- 50,000 per person of the self-help group

    Further Reading: Check Home Loan Eligibility .

    Significant Features of SBI Home Loans:

    • Lower interest rates as compared to other contemporary banks
    • Low processing fees
    • No hidden charges or administration fees
    • Nil pre-closure charges making repayment easier and more flexible
    • A huge network of branches across the nation making it convenient to visit a SBI branch
    • Exclusive packages depending upon individual needs of customers
    • Interest is calculated on daily reducing basis which lowers the overall interest paid

    Documents required applicable to all loan seekers:

    • Duly filled loan application
    • 3 passport-size photographs
    • Identity Proof (Voter ID Card/Passport/Driving License/Pan Card)
    • Proof of Residence (Current Address Proof)
    • Bank Statement for last 6 months
    • Personal assets and liabilities declaration
    • Proof of property
    • Income Tax Proofs (If required)
    • Signature Identification from present banker

    Documents required for Guarantor:

    • Assets and liabilities Statement
    • 2 passport-size photographs
    • Identity Proof
    • Address Proof
    • Signature Identification from present banker

    FAQ Section:

    Frequently asked questions about SBI Home Loan.

    How can I decide which SBI home loan fits my requirement?

    BankBazaar gives you the option of comparing home loan schemes and an online EMI calculator to help you plan your finances well in advance before availing a home loan.

    What are the various interest rates offered on home loans?

    Interest rates vary with respect to the subscribing customer being a woman or otherwise. In the former case, the rate stands at 9.35% p.a while other customers are charged a interest rate of 9.40% p.a. These rates are irrespective of the actual loan amount.

    What is the processing fee charged by SBI for home loans?

    SBI charges a low processing fee for its home loans. Upto 0.35% of the loan amount is charged. The amount can be maximum of Rs.11,500

    Can I pay off my SBI home loan earlier than the initial tenure?

    Yes. You can pay off your SBI home loan earlier too, without a pre-payment penalty fee.

    Is there any security required for the SBI home loan?

    Usually, the property that is purchased using the loan serves as the security. In some cases it is at bank’s discretion to ask for additional securities like insurance policies, fixed deposits etc.

    Is a guarantor required to sign my loan application?

    Yes. A guarantor with all the valid and required documents need to sign your loan application.

    What kind of job makes me eligible for SBI home loan?

    You can either be a salaried employee or self-employed for obtaining this loan. However, the only condition is that you should be earning a regular income and should be able to furnish proofs of the same.

    Can joint-applications be made for SBI Home Loans?

    Yes. Joint applicants are welcome at SBI.

    Are there any tax benefits associated with SBI home loan?

    Yes. Tax rebate under section 80C of the Income Tax Act is applicable.

    Are long-term home loans beneficial or short-term loans?

    Long-term loans are beneficial in giving you the option and comfort of lower EMIs, however, short-term loans mean higher EMIs but lesser interest. A borrower can choose the option depending upon his financial status.

    How long does it take for my loan to get sanctioned?

    If all the required documents are in place then your SBI home loan can be sanctioned in a few days.

    Where can I apply for SBI home loan?

    With a network of over 17000 branches in India, SBI home loans can be applied at any of your nearest bank branch.

    Before you apply for the loan, Check your CIBIL Score for SBI Home Loan

    News About SBI Home Loan

    • SBI and ICICI reduce Home Loan Interest Rates

      In a recent move SBI has cut its home loan interest rate by 0.15%, bringing the total interest rate from 9.30% down to 9.15%, the public sector bank’s close private sector rival ICICI has also taken note and dropped its interest rates by 0.15% as well, bringing it down from 9.35% to 9.20%. The banks made the rate cuts as a result of repeated requests from regulators to give some of the benefits of interest rate cuts to the borrowers and help boost the economic growth. Since the beginning of 2015 the Reserve Bank of India (RBI) has reduced the repo rate by 175 basis points, but the end consumer only receives a 60 – 90 basis point reduction. Also, due to the high processing fees charged to customers for loans any interest cuts are also considered redundant.

      21st November 2016

    • SBI offers lowest Home Loan Interest Rates yet

      The State Bank of India (SBI) has reduced its home loans interest rates to the lowest they have been in the past six years. The bank is offering loans at 9.15% to normal customers and 9.10% to female customers, this is part of a festive scheme that the bank is offering. This new rate comes in light of the 15 basis point general rate reduction last week. The festive rates are available for loans which were sanctioned during the months of November and December where disbursement of the loan takes place with a month. The bank has also waived off all processing fees on loans. SBI is looking at grabbing a large share of the home loan market by offering lower rates on takeover of loans from other banks.

      14th November 2016

    • SBI Chairperson Declares that the Bank is Judicious in Passing on Rate Cuts to Borrowers

      State Bank of India in a recent statement said that it has judiciously passed on reduction in interest rates announced by RBI to its customers and has also done so on a consistent month-on-month basis. The bank also said that it will bring down the rates further in the near term with an effort to benefit a massive number of home and auto loan seekers. SBI’s Chairperson Arundhati Bhattacharya said that the bank has already passed on 0.95% of RBI’s rate cut to borrowers ever since the sustained reduction in borrowing rates by the Central Bank. RBI has reduced borrowing rates by 1.75% since January 2016. The move will also benefit scores of corporate houses and small scale businesses, creating a conducive environment for economic growth. Moreover, with analysts indicating that inflation is due to fall in time to come, consumers can certainly expect additional reductions in interest rates.

      26th October 2016

    • SBI Introduces Hope Loans with Reduced rate of Interest

      SBI has been very busy in the past two weeks, first with the reduction in MCLR and now have come out with a special financing scheme called Hope Loans that offer low interest rates. For example, if one were to take an Rs 50 Lakh loan for a tenure of 30 years, they would save close to Rs 3.5 Lakh at the end of the tenure as compared to taking the loan the same period last year.

      The reduction in MCLR has brought the interest on home loans to 9.25% for women and 9.30% for men while the car loans are at 9.65%

      30th September 2016

    • Rs. 11,100 crore debt to be raised by SBI through private placement

      The State Bank of India confirmed that it will be raising Rs. 11,100 crore debt to overseas and Indian investors through private placement. The bank stated that the perpetual debt instruments could be denominated to US dollars or Indian Rupee. There were no confirmed timelines for the move. The debt is likely to rank as Tier 1 capital for SBI.

      The bank had declared that it would be merged with the State Bank of Patiala, State Bank of Hyderabad, State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner & Jaipur recently.

      6th September 2016

    • SBI optimistic on the credit growth for Fiscal 2017

      State Bank of India will be raising its growth estimate for credit for the financial year 2017. SBI Chairperson Arundhati Bhattacharya mentioned that the bank is growing at a rate of 12 per cent. Since this is a slow quarter, the bank may revise their credit growth projections mid year, she clarified.

      Bhattacharya also said that the review will be based on the demand for high-value project loans. She elaborated that SBI would be more guarded in financial affairs this year, as opposed to the last, when they had substantially piled up non-performing assets.

      30th August 2016

    • SBI Offers Loans to Around 7 Lakh PMJDY Accountholders

      State Bank of India (SBI) has identified around 7 lakh people who opened bank accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) as potential loan customers. These individuals were found to be credit-worthy despite belonging to the financially weaker section of society.

      These accountholders have been informed of their eligibility for small loans by sending them SMSes in their native language. Financial inclusion comprises loans and deposit products as much as a savings account, said SBI chairperson Arundhati Bhattacharya.

      The loans being offered are personal and consumer loans, based on each person’s requirements and eligibility. Though loans for small enterprise businesses are not being offered currently, it is very much under consideration, said Bhattacharya.

      25th August 2016

    • SBI Set To Take Advantage of Higher Salaries of Government Employees

      The State Bank of India (SBI) has begun a campaign to tap into the income of government employees after the recent salary hikes effected by the Seventh Pay Commission, which is estimated to be to the tune of Rs.85,000 crore. Demand for retail loans is expected to go up once the hikes are instituted.

      The key segments targeted in this campaign – which is also mirrored by other lenders – is home loans and automobile loans. SBI is working on a new home loan plan that allows borrowers to pay a higher EMI at the beginning of the loan period and a lower EMI after retirement. The age of retirement would be raised to 75 years from the current 70 years, giving customers a chance to borrow money up to the age of 45 years.

      Another loan product being planned is for defence personnel – SBI Shaurya.

      23rd August 2016

    • SBI Offers Attractive Sops on Home Loans for Government Employees

      State Bank of India has unveiled a new home loan scheme aimed at offering finance at attractive rates and terms to government employees including defence sector. Under this scheme, eligible borrowers working with various government agencies will get a concession of 0.05% on existing rate.

      Borrowers can also look forward to relaxation on repayment age cap which has been upped to 75 years. It must be noted that the general cap in this regard is 70 years. The two schemes christened SBI Privilege Home Loan for employees of the government and SBI Shaurya Home Loan for the defence sector will not come with any processing fee. These benefits are also available to aspirants willing to transfer their existing home loan held with other banks.

      19th August 2016

    • SBI Inaugurates Home Loan Coordinator Cell

      State Bank of India (SBI) inaugurated Housing Loan Coordinator Cell at its branch near NAD Junction in Vishakhapatnam on Thursday. The cell will help extend better service for its customers.

      The cell will speed up the process of home loan approvals. Loan officers can now get the processing done directly at the coordinator cell instead of having to refer back and forth with sourcing branches.

      A separate coordinator cell for personal loan, car loan and education loan would also be set up, said SBI Deputy General Manager Ajay Kumar Pandit.

      27th July 2016


    SBI Home Loan Reviews

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