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

    SBI Home Loan is considered to be the largest and most renowned mortgage lender in the country. Till date, the company has helped approximately 30 lakh households fulfil their dream of owning a residential property by offering a wide range of products. SBI Home Loan caters to its huge clientele through its wide network of more than 24,000 branches that are spread across the length and breadth of the country.

    SBI Pre-Approved Home Loan Processing Fee

    The State Bank of India charges a one-time processing fee on all pre-approved home loans.

    The minimum processing fee 0.40% of the loan amount plus applicable GST subject to a minimum of Rs.10,000/-
    maximum amount 0.40% of the loan amount plus applicable GST subject to a minimum of Rs.10,000/-

    *The amount that is charged as processing fee is equal to 0.35% of the loan amount along with service tax.

    Other Charges & Fees of SBI Pre-Approved Home Loan

    pre-sanction charges
    • The fees of the valuer for the valuation report
    • The fees of the advocate for title investigation report and property search
    • On the other hand, the post-sanction charges under this plan include:
    • Property insurance premium
    • Stamp duty applicable for mortgage and loan agreement
    • CERSAI Registration Fee of Rs.50 plus GST for a limit of up to Rs.5 lakh, and Rs.100 plus GST for limits that are higher than Rs.5 lakh
    Pre-payment Charges
    • SBI Home Loan does not levy any penalty on borrowers who are looking to pre-pay their loans availed under this scheme.

    Eligibility Criteria for Pre-Approved Home Loans Offered by SBI

    Type of resident Resident of India
    Minimum age 18 years
    Maximum age 70 years
    Loan Tenure Up to 30 years
    Loan Amount Rs.10 lakh and above

    Documents Required to Apply for a Pre-Approved Home Loan at SBI

    Proof of identity
    • Duly filled loan application form
    • 3 passport size photographs
    • Employer Identity Card
    • Proof of identity such as Passport, PAN Card, Driver’s License, Voter ID Card, etc.
    • Proof of address such as Driving License, Aadhaar Card, Passport, recent copy of telephone, electricity, water, or piped gas bill.
    • Bank account statements for the last 6 months of all the bank accounts held by the applicant(s)
    • Existing loan account statement for the past 1 year, if applicable
    proof of income
    • Salary certificate or slip for the last 3 months
    • Copy of Form 16 or IT Returns for the last 2 financial years as acknowledged by the Income Tax Department
    Other Documents
    • Certificate of qualification (for chartered accountants, doctors, and other professionals)
    • Business address proof
    • Details of business license or equivalent
    • Income Tax Returns for the past 3 years
    • TDS certificate (Form 16A, if it is applicable)
    • Balance Sheet along with details of Profit & Loss account for the last 3 years

    Key Highlights about SBI Pre-Approved Home Loan

    Learn about the important features of the SBI Pre-Approved Home Loan mentioned below:

    • Low rates of interest - The interest rates associated with SBI Pre-Approved Home Loans are extremely low compared to other personal loans that are available in the market. Under this scheme, the applicable interest rate for a borrower is calculated based on their risk profile and loan-to-value (LTV) ratio.
    • Discount on interest rates for female borrowers - Women borrowers can avail additional concessions on the rates of interest when they apply for a pre-approved home loan from SBI.
    • Zero pre-payment charges - In case you are planning to pre-pay your loan amount owing to a sudden influx of cash, you can choose to do so without having to worry about paying a penalty.
    • Minimal processing fee - When you apply for an SBI Pre-Approved Home Loan, you will have to pay a small amount as processing fee at the time of the sanction of the loan. This is a one-time fee which is completely non-refundable.
    • No hidden charges - State Bank of India believes in complete transparency. Therefore, when you apply for a pre-approved home loan at SBI, you can remain assured that you will not have to pay any hidden charges throughout the entire loan tenure.
    • Flexible repayment tenure - Based on the repayment capacity and convenience of the home loan borrowers, this scheme offers customers the option to opt for a repayment tenure for a maximum of 30 years.
    • Interest is charged based on Daily Reducing Balance - The interest paid by you for a pre-approved loan by SBI is charged on a daily reducing balance basis. Hence, as you pay your equated monthly instalments (EMIs), the interest charged will continue to reduce over time.
    • Overdraft facility available - When you apply for this loan, you will be able to benefit from the overdraft facility that is available as an additional benefit.


    1. How much loan am I eligible for under SBI Pre-Approved Home Loan?

      You can check your eligible loan amount online using the loan calculator available at the official website of SBI Home Loan. All you have to do is enter the required details in the form for available on the website for checking eligibility, and submit it. You will get a call back soon. You can also call the customer service team at 1800 425 3800.

    2. Is there any interest subsidy available under SBI Pre-Approved Home Loan?

      Yes, you can get an interest subsidy of up to Rs.2.67 lakh under PMAY-CLSS.


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