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

    We found 6 SBI Pal 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 Pal Home Loan is Rated as "Great!" by 955 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Home Loan BYTES FROM OUR KITCHEN

    For those who wish to have, construct or purchase a house or flat, State Bank of India offers some of the most attractive finance options in the country. SBI Home Loans are some of the most sought after home loans which offer multiple feature and benefits, like no other. Some of the unique advantages of SBI Home Loans are low processing charges, no prepayment penalties, multiple types of home loans to choose from, low interest rates, no hidden costs and a wide spread network of over 15,000 branches, any of which you may walk into and apply for the most suitable home loan.

    Home Loan Offers

    SBI Pal Home Loan Overview:

    The SBI Pal is a pre-approved home loan which basically sanctions the loan limit to customers, before finalization of the property in order to enable the customer to successfully negotiate with the builder / seller. For availing the SBI Pal Home Loan, the applicant’s loan eligibility will be assessed on the basis of his/her income details. A non-refundable processing fee will be applicable on this home loan and will be collected at the time of loan sanctioning.

    Features and Benefits of the SBI Pal Home Loan:

    Repayment:

    This loan must be repaid within a maximum tenure of 30 years or till the borrower reaches the age of 70 years, whichever occurs first. The moratorium period / repayment holiday period is included within the repayment period.

    Validity Period:

    The Pre-approved Loan Arrangement Letter (PLAL) issued by the bank will be valid for 4 months. Applicants must submit the property documents within the validity of the PLA Letter. Please note, no processing fee will be levied at this stage.

    Loan Amount:

    The minimum amount of loan applicable with the SBI PAL is Rs 10 lakh. The PLA Letter will mention the loan amount which the borrower is eligible for, which will be calculated on the basis of the prevailing interest rate.

    Fees:

    The processing fee structure (including service tax) is as under:

    Home Loan AmountProcessing Fee
    Up to Rs 25 lakh0.25% of loan amount, minimum of Rs 1,000/-
    Above Rs 25 lakh and up to Rs 75 lakhRs 6,500/-
    Above Rs 75 lakhRs 10,000/-

    SBI Pal Home Loan Eligibility Criteria:

    Age

    Applicant must not be below 18 years of age and not above 70 years of age at the time of loan maturity.

    Loan Amount
    • The amount of loan which you can take depends on factors like the applicant’s age, income, assets & liabilities, repaying capacity, cost of the proposed house/flat etc.
    • To add to your eligibility, you may choose any of the following options:
      • Income of your spouse / children living with you, provided they have a steady income and have their salary account maintained with SBI.
      • Expected rent accruals of the house / flat which you wish to purchase, if you plan to rent it out.
      • Depreciation (subject to conditions).
      • Regular income from all sources.

    SBI Pal Home Loan Interest Rate:

    Borrowers CategoryInterest Rate
    WomenAt Base Rate i.e. 9.85%
    Others5 BPS above Base Rate i.e. 9.90%
    • In case of women borrowers, the lady must either be the sole applicant or the first co-applicant of home loan.
    • The property proposed for the loan must either be in the sole name of the woman borrower or she must be the first owner in case of a joint-ownership.

    SBI PAL Home Loan New MCLR Rate:

    The bank’s MCLR as on April 1, 2016, is 9.2%. SBI will reset the interest rate every year as the benchmark for the home loans is the 1-year MCLR.

    The spread above MCLR for SBI PAL home loans are as follows:

    Category Interest rate
    For women 20 basis points more than the MCLR i.e. 9.4% p.a.
    For others 25 basis points more than the MCLR i.e. 9.45% p.a.

    FAQs about SBI Pal Home Loan:

    1. What is the security required for the SBI Pal Home Loan?

      An equitable mortgage of the property will be accepted as valid security for the home loan.

    2. Are there any additional charges payable by the SBI Pal Home Loan borrower?

      Yes, the borrower must pay the nominal pre loan sanction and post loan sanction charges like advocate’s fee, valuer’s fee, stamp duty, property insurance fee, etc.

    3. Is there any pre-closure / prepayment penalty applicable on the SBI Pal Home Loan?

      No, there is no prepayment / pre-closure penalty charged with this loan.

    4. What is the minimum amount which can be taken with the SBI Pal Home Loan?

      The minimum amount which can be taken is Rs 10 lakhs.

    5. For how long is the Pre-approved Arrangement Letter (PLAL) valid?

      The PLAL is valid for a period of 4 months.

     Loading your search... Loading your search...
  • SBI Pal 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
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.