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    SBI Realty Home Loan

    We found 6 SBI Realty Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.65% - 8.70% Floating
    0.35% (max. 10,000) + S.T.
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.60% - 8.65% Floating
    0.35% (max. 10,000) + S.T.
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    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
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.15% - 9.3% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.15% - 9.3% Floating
    0% to 0.35% (max. ₹11,500)
    15L - 10Crs
    1-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.50% - 8.55% Fixed/Floating
    0.35% (max. ₹10,000) + S.T.
    5 L to 30 L
    3-30 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria

    SBI Realty Home Loan is Rated as "Great!" by 930 Users

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    Home Loan BYTES FROM OUR KITCHEN

    SBI Realty Home Loan

    The State Bank of India (SBI) offers a wide range of home loan products to cater to all kinds of borrowers in the country. Among the types of loans it offers is SBI Her Ghar Home Loan for women, SBI FlexiPay Home Loan offering flexible repayment options,SBI NRI Home Loans tailored for non-resident Indians, and SBI Realty Home Loans specifically for purchase of plots of land instead of ready houses.

    Eligibility Criteria for SBI Realty Home Loan:

    If you want to avail an SBI Realty Home Loan , you need to meet the following criteria:

    • Minimum age: 18 years
    • Maximum age: 70 years at the time of maturity of loan
    • Income is an important eligibility criteria for SBI Realty Home Loan. The EMI you have to pay is based on your income. If your net annual income is up to Rs. 2 lakh, then your EMI cannot exceed 30% of the income. Similarly, with an income of up to Rs. 5 lakh, the EMI cannot be more than 40% of the income, for up to Rs. 10 lakh the maximum permissible EMI is 45% and for an income of more than Rs. 10 lakh, 50% of the income can be paid as EMI.
    • The construction of the house has to be completed within 2 years of taking the Realty Loan.
    • You must be able to pay off the loan in 15 years.
    • Your CIBIL score should be high.

    Documents Required for SBI Realty Home Loan:

    Before applying for an SBI Realty Home Loan, make sure the following documents are in order:

    • Filled-up loan application (Application form needs to be fully and cautiously filled.)
    • 3 passport-sized photographs
    • Proof of identify (photo copies of Voter’s ID card/Passport/Driving licence/PAN card/Aadhaar card)
    • Proof of residence (photo copies of recent Telephone Bills/Electricity Bills/Property tax receipt/Passport/Voter’s ID card/Aadhaar card)
    • Statement of Bank Account/Pass Book for the last 6 months
    • Signature identification from your current bank
    • Personal Assets and Liabilities statement

    Salaried individuals need to provide these documents too:

    • Original Salary Certificate from employer
    • TDS certificate/Form 16/copy of IT Returns for the last 2 financial years, acknowledged by the I-T Department.

    Non-salaried individuals and entrepreneurs need the following documents in addition to the above:

    • Proof of business address
    • Acknowledged copies of 3 years’ I-T returns/Assessment Orders
    • Photocopies of challans showing payment of Advance Income Tax.

    If you are using a guarantor, the guarantor needs to submit the following documents:

    • Personal Assets and Liabilities Statement
    • 2 passport-sized photographs
    • Proof of identification
    • Proof of residence
    • Proof of business address
    • Signature identification from their bank

    SBI Realty Home Loan Features and Benefits

    The key features of the SBI Realty Home Loan are as given below:

    • The Realty Home Loan, as the name suggests, is meant for purchase of an undeveloped property rather than an apartment or bungalow ready for possession. You can also include the cost of building a house on the plot in the loan amount.
    • You can get loans of up to Rs. 10 crore.
    • The repayment tenure is up to 15 years, depending on your profile, age and income.
    • The interest rate is among the lowest in the market – with 9.35% (MCLR+20 basis points) for women and 9.4% (MCLR+25 basis points) for others. The rate is floating, based on a daily reducing balance and the benchmark is 1-year MCLR.
    • You can take additional home loan to construct the house after the plot is bought, and both the loans can be operated simultaneously.
    • To improve your chances of getting a loan, you can add the income of your spouse or children living with you, if their salary accounts are held in the SBI.
    • You do not have to pay any additional fees for making pre-payments or partial payments towards your loan amount. You can put in additional amount in your loan account whenever you can, and the amount will be reduced from the principal amount payable.
    • You also become a part of the State Bank Rewardz programme, which gives you reward points on each transaction.

    SBI Realty Home Loan Fees and Charges:

    The fees and charges applicable on an SBI home loan are:

    • Processing fees: 0.35% of the loan amount, with the minimum processing fee being Rs. 2,000 and the maximum Rs. 10,000. Service tax will be charged over and above the processing fee.
    • Advocate’s fee: This will be charged for property search and title investigation report before the loan is approved. The amount will depend on the professional’s fees.
    • Valuer’s fee: A valuation report of the property, to be done before sanction of the loan, will be charged as applicable.
    • Stamp duty: Apart from the stamp duty on property registration that is included in the loan amount (or you may have decided to pay yourself), both the mortgage papers and the loan agreement has to be notarised on stamp paper. For this, a stamp duty needs to be paid to the bank.
    • Property insurance premium: Home insurance is automatically included when you take a home loan from SBI. However, you can choose to opt out of the insurance and insure your property with another insurer.
    • CERSAI Registration Fee: This refers to Central Registry of Securitisation Asset Reconstruction and Security Interest (CERSAI), which is a centralised online mortgage registry in India. To register the mortgage of your property with CERSAI, the bank charges Rs. 250 and service tax on loans of up to Rs. 5 lakh, and Rs. 500 and service tax for amounts above Rs. 5 lakh.

    SBI Realty Home Loan FAQ

    1. Can I take the SBI Realty Loan to buy a flat?

      No. SBI Realty Home Loan is specifically designed for the purpose of buying plots on which you can construct your own house.

    2. Can I take another home loan from SBI after taking a Realty Home Loan?

      Yes, you can. You can run concurrent home loans if the first loan taken was the SBI Realty Home Loan. This way, you can supplement the original amount and build your dream house.

    3. Is it possible for my husband and me to be joint applicants on a home loan application?

      Yes, absolutely. You can also avail the lower interest rate available for women if you are the sole applicant or the co-applicant. Your husband, however, will have to pay the normal interest rate.

    4. Do I need to pledge any collateral security with SBI for the Realty Home Loan?

      No. The plot of land you buy with the bank’s financing will be considered as mortgaged to SBI. 

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  • SBI Realty Home Loan Reviews

    • SBI Home Loan
      "Better Service"
      0.5 4.0/5 "Great!"
      In the year of 2014, I had taken a home loan from SBI. The rate of interest was around 10.15% at that time. EMI will be deducted from my salary account every month, so I do not have any interactions with the customer service executives till date.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 23, 2017
    • SBI Home Loan
      "Better "
      0.5 4.0/5 "Great!"
      I got the approval letter from the State bank of India for my home loan. Rate of interest was around 9% and I was not okay with that. Response and other aspects are good with them . Being an under construction property, the loan amount will be get disbursed shortly.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 22, 2017
    • SBI Home Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      My home loan is from State Bank of India and this process was smooth for me. I had no hassles with the bank in the documentation or in the disbursement. Everything happened on time and and I got the funds I needed with a good deal on the interest and charges.
      Was this review helpful? 0
      , rourkela
      Reviewed on May 22, 2017
    • SBI Home Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I do have the home loan with the State bank of India and their interest rate is a good one with them. Services are not good with them and the loan amount got disbursed to my account within three months of four months of time. Lastly, even the processing charges were nominal one with them.
      Was this review helpful? 0
      , pune
      Reviewed on May 22, 2017
    • SBI Home Loan
      "Disappointed with the service"
      0.5 2.5/5 "Just OK"
      For me SBI services falls below expectation, because they did not stick to their interest rate. Initially I was quoted an interest rate of 8.5% however they offered me only 8.65%. Therefore SBI needs to stick on to their promises. Additionally, they had to appoint a responsible executive, also he or she should know how to handle the customer in a refined way.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 22, 2017
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I opted for home loan with SBI BANK, Their process was good and smooth and now also they do, Customer service and responsiveness was really good, It was a Good experience with the HDFC Bank. My HOME loan experience with SBI is Outstanding I would say they are good in service of loans and the loan amount I applied for 42 laks but I received only 38 lakhs because of the property value. They charged me some processing fee and they told me that they will refunded it which they did not do ,when I called to check that they confirmed that the time scales got lapsed.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 21, 2017
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      The service provided was very good with State bank based on the Home loan process.The customer follow up made is the positive end of the bank.They have provided very immediate and fast service based on the application.The interest rate offered was 10.5% approximately .and its floating total loan amount was 10.70 laks and tenured is for 15 years applied in 2008.
      Was this review helpful? 0
      , nanded
      Reviewed on May 21, 2017
    • SBI Home Loan
      "Fast Service"
      0.5 4.0/5 "Great!"
      As soon as I submitted my documents with SBI for my housing loan, immediately they called me and the very next day they initiated the process. Interest rate is ok, though the current market rate is of 8.35% I got it for 8.70% but then there is no problem in interest rate. The process went good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 20, 2017
    • SBI Home Loan
      "Average service."
      0.5 4.0/5 "Great!"
      My wife wanted me to take only SBI home loan as she thinks they do thorough verification of the project and so had to go for it though I preferred some private bank. They processed it within 12/15 days as it was March but had to travel 20+kms as the agent came from a far away branch. Otherwise all is well till now.
      Was this review helpful? 0
      , chennai
      Reviewed on May 19, 2017
    • SBI Home Loan
      "Trsutworthy and Reliable"
      0.5 5.0/5 "Blown Away!"
      I took the home loan with the State bank of India and I got the loan amount with them because of trust. Its the nationalized bank and that's the major thing made me to went ahead with them. Within two to three weeks of time, I got the home loan.
      Was this review helpful? 1
      , bangalore
      Reviewed on May 19, 2017
    • SBI Home Loan
      "Convenient process"
      0.5 5.0/5 "Blown Away!"
      It was a excellent experience with State Bank of India for the home loan. The process was on time and I also got a good deal as well. The disbursement was on the date I needed it and the after loan services has been smooth too. The rate of interest was around 9% and I am comfortable with it.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 19, 2017
    • SBI Home Loan
      "Good Experience with SBI"
      0.5 3.0/5 "Satisfactory"
      SBI is one of the largest bank in India, whatever the loan we take they give transparent information they wont take any hidden charges. I have taken the home loan of Rs.25 lakhs with the tenure of five years without processing fee. SBI charged 8.5% of interest it is nominal as per the market.
      Was this review helpful? 1
      , chennai
      Reviewed on May 18, 2017
    • SBI Home Loan
      "Below average service"
      0.5 3.0/5 "Satisfactory"
      The process took too much time, Sbi executives told they will disburse the loan within 10 to 15 days, but then they took around 4 months to disburse my home loan , which is too long time. The rate of interest is nominal with SBI. Overall I can say it was an below average service.
      Was this review helpful? 0
      , mumbai
      Reviewed on May 18, 2017
    • SBI Home Loan
      "Its Better"
      0.5 4.0/5 "Great!"
      SBI is cheapest loan provider across the India, they have provided lest interest rate 9.3% on home loan. But documentation process is very lengthy, I have submitted lot of documents, because they have stick with the RBI guidelines. SBI have satisfied me by giving 100% loan on my property value.
      Was this review helpful? 0
      , sonipat
      Reviewed on May 18, 2017
    • SBI Home Loan
      "Good deal"
      0.5 5.0/5 "Blown Away!"
      SBI has been good in the services for the home loan. It would have been better if I received the loan more sooner. The documentation was normal and the disbursement was also as needed. The interest rate was around 8% and the processing charges was minimal.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      Being an salaried account holder with SBI. I am very glad to have a loan with SBI. After submitting my documents they took around 10 days to disburse my home loan. The rate of interest is 8.35% which nominal with SBI. Overall I would like to thank State bank for providing a Home loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2017
    • SBI Home Loan
      "Better service"
      0.5 4.0/5 "Great!"
      The documentation and the verification process went smooth with State Bank of India Home loan. The rate of interest is nominal, when compared with others. The response part was good with State bank of India. Overall the service is good with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 18, 2017
    • SBI Home Loan
      "Better "
      0.5 4.0/5 "Great!"
      I got the home loan with the State bank of India and the loan amount got disbursed to my account within a month of time. Processing charges were nominal one with them. During documentation process also there were no issues with them.
      Was this review helpful? 0
      , chennai
      Reviewed on May 17, 2017
    • SBI Home Loan
      "Average"
      0.5 2.0/5 "Expected more"
      I have not received the documents like repayment schedule and other papers for my home loan with the State bank of India . State bank of India took long time to provide the disbursement , also the verification process was really huge one. Rate of interest was fine one for me and I would like to suggest that they need to optimize and speed up the process.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 16, 2017
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      My experience with State bank of India has always been fair. I had taken my home loan from them. The process was quick and it was completed on time by the bank. They also offered a good rate of interest 8.68%.and there was no processing charges toatal loan amount is 19 laks I have opted for.
      Was this review helpful? 0
      , kolkata
      Reviewed on May 16, 2017
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