A "low interest" loan shouldn't mean you have very little interest in paying it back!
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    We found 6 SBI Realty Home Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    8.40% - 8.75% Floating
    0.35% (max. 10,000) + applicable tax
    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) + applicable tax
    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) + applicable tax
    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 Spl. Offer for Defense Emp.
    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 Spl. offer for Govt. Emp.
    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) + applicable tax
    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 Realty Home Loan is Rated as "Great!" by 961 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.

    Home Loan Offers

    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. GST 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 GST on loans of up to Rs. 5 lakh, and Rs. 500 and GST 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
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      The state bank of India took around 3 months to disburse my home loan. The customer service and the response need quick and fast in future. The required loan amount has been given and I am satisfied. The rate of interest is nominal with SBI. I am happy with the SBI home loan service.
      Was this review helpful? 5
      , surat
      Reviewed on Jul 07, 2017
    • SBI Home Loan
      "Good Process"
      0.5 4.0/5 "Great!"
      I had take the home loan about six years ago. The interest rate is around 9.5% which is nominal. I got good service from SBI for the home loan process. They sanctioned the loan without any delay and done with the process in a good manner. I do not have any issues with SBI.
      Was this review helpful? 2
      , indore
      Reviewed on Jul 05, 2017
    • SBI Home Loan
      "Good bank"
      0.5 4.0/5 "Great!"
      I took home loan from State bank of India. For the loan, the interest rate is around 8.65% and I am happy with with the services of SBI. Actually my salary account is with SBI so I preferred the same bank for the home loan.
      Was this review helpful? 1
      , nasik
      Reviewed on Jul 04, 2017
    • SBI Home Loan
      "Good Response"
      0.5 4.0/5 "Great!"
      I had taken home loan from State bank of India about three months ago. Interest rate is eight to nine percentage. Processing fee is two thousand rupees. The tenure is for twenty five years. Loan process went good and they sanctioned the loan on time.
      Was this review helpful? 1
      , jaipur
      Reviewed on Jul 01, 2017
    • SBI Home Loan
      "Best offer in the market"
      0.5 5.0/5 "Blown Away!"
      Compare to private banks, SBI requested for lot of documents, once I provided all the documents process went smooth. SBI sanctioned 80% loan on the estimated cost, I took the loan amount of Rs. 20 lakhs for the tenure of 20 years. SBI offered me 9.5% of interest on initial stage then reversed for 9.25% its low.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jun 29, 2017
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have received a home loan from SBI on 2013. I got the SBI home loan within 10 to 12 days of time. I am happy about the loan amount. The rate of interest was low, when compared with others. The customer service with SBI is really good. I am satisfied with the home loan service offered by SBI.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Jun 27, 2017
    • 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? 4
      , 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? 2
      , 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? 3
      , 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? 2
      , 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? 2
      , 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? 3
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 1
      , 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? 2
      , 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? 1
      , bangalore
      Reviewed on Jun 12, 2017
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