A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • SBI Sahyog Niwas Scheme

    Sahyog Nivas

    The Sahyog Niwas Scheme is a home loan scheme specially designed by the State Bank of India to provide home loan and housing finance solutions to Self Help Groups who reside in rural locations and areas. Self Help Groups that possess a good track record of at least two years with regards to payments can avail of this scheme.

    Objectives Of The SBI Sahyog Niwas Home Loan Scheme:

    The main objectives of the SBI Sahyog Niwas Scheme are as follows:

    • To provide financial assistance to Self Help Group members for the purchasing or buying of a house
    • To provide financial assistance to Self Help Group members for the construction of a house
    • To provide financial assistance to Self Help Group members for the purchase of a work space or shed to conduct activities such as selling of groceries, dairy products, tailoring etc
    • To provide financial assistance to Self Help Group members for the repair, upkeep or renovation of a house, work space or shed that already exists
    • To provide financial assistance in order to help the group members with the purchase or acquisition of a plot of land for the purpose of construction of a house
    • To provide financial assistance to Self Help Group members for the extension of the following:
      • An existing house
      • An additional work space for an existing house
      • A shed

    Eligibility Criteria for The SBI Sahyog Niwas Scheme:

    Self help group members looking to avail of home loans or finance through the SBI Sahyog Niwas Scheme are required to fulfill the following eligibility criteria:

    • The applicant must be a part of a Self Help Group
    • The Self Help Group must have a good track record regarding payments for at least two years prior

    Features Of The SBI Sahyog Niwas Scheme:

    The main features of the SBI Sahyog Niwas Scheme are as follows:

    • Loans granted under this scheme can be availed by Self Help Groups operating in rural areas
    • The loan amount that can be availed can be up to ten times the amount that the Self Help Group has accumulated as savings
    • The loan amount will also take into consideration any outstanding loans that have already been rolled out to the Self Help Group
    • Each Self Help Group will disburse the loan amount in the following manner to its members for the purpose of housing:
      • In the case of construction or buying of a house, a maximum loan amount of Rs 50,000 will be disbursed to each member
      • In the case of any renovations or repairs to an existing house, a maximum loan amount of Rs 25,000 will be disbursed to each member
      • In the case of the purchase of a plot of land for the purpose of construction of a house, a maximum loan amount of Rs 25,000 will be disbursed to each member

    Repayment Schedule Under the SBI Sahyog Niwas Scheme:

    Self Help Groups who have availed of a loan under the SBI Sahyog Niwas Scheme can make repayments towards the loan in the following manner, according to the conditions prescribed below:

    • The group can make repayments in installments, which can be spread out over a maximum duration of 15 years
    • The installments can be made at the following regular intervals, as per the group’s convenience:
      • Monthly
      • Quarterly
      • Half-yearly
      • Yearly

    FAQs:

    1. Does a Self Help Group have to provide any form of security when availing of a loan through the SBI Sahyog Niwas Scheme?

      The only security required when availing of a loan through the SBI Sahyog Niwas Scheme is the guarantee given by all members of the Self Help Group

    2. Are there any processing fees or charges that may be applicable when availing of a loan through the SBI Sahyog Niwas Scheme?

      There are no processing fees or charges involved when applying for a loan under this scheme

    3. What is the area of operation of the SBI Sahyog Niwas Scheme?

      The SBI Sahyog Niwas scheme is only applicable to rural or semi-urban locations or areas in which Self Help Groups operate

    4. How are loans rolled out under the SBI Sahyog Niwas Scheme classified?

      Loans that are rolled out under this the SBI Sahyog Niwas Scheme are classified under Self Help Groups as follows:

      • Priority Sector Advances
      • Agricultural Finance

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    SBI Sahyog Niwas Scheme Reviews

    • SBI Home Loan
      "Good"
      0.5 4.0/5 "Great!"
      I have taken a home loan in STATE BANK OF INDIA before 4 years ago. As per my requirement the loan amount was not sufficient from which bank provided and was low for the duration of 20 years. The rate of interest and the processing fee are nominal for this loan.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jun 14, 2019
    • SBI
      SBI Home Loan
      "Good loan services"
      0.5 5.0/5 "Blown Away!"
      Once i mail to the mail support team they used to give me a prompt reply. They have given me a interest rate of 8.5% for my loan. Since the interest rate is less and its good for central Government employee and they give loan upto 70 years of age and EMI also it would be less hence i have recommended SBI to many people
      Was this review helpful? 0
      , thane
      Reviewed on Jun 09, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for the past 5 years ago, at the time loan amount was sufficient which was provided from bank for the duration of 20 years.The rate of interest is nominal and the customer service is excellent whenever contact them.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 09, 2019
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I hace selected loan amount 6 lakhs and tenure 20 years, EMI Rs 5000 and Rate of interest 8.50% floating one time processing there Rs 7500. Customer service is good and responsive. Documents submitting through executive There is no delay receiving loan amount disbursement.
      Was this review helpful? 1
      , thane
      Reviewed on Jun 09, 2019
    • SBI Home Loan
      "Good home loan"
      0.5 4.0/5 "Great!"
      I have applied the home loan with State bank of India. They took 1 month to sanctioned the loan. The given interest rate was 8.5% and there is no processing fee. I have selected the tenure period of 15 years. Because of the lower interest rate i have chosen them.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 08, 2019
    • SBI Home Loan
      "Need scope of improvement"
      0.5 3.0/5 "Satisfactory"
      Before 10 years I took home loan from SBI, the service is lacking compared to private sector interms of follow up and processing time. The staff were not helpful whenever I visited to the bank I didn't good response from their end. One thing the interest is good, I took the loan amount of Rs. 2 lakhs with the interest around 8.75% for 10 years.
      Was this review helpful? 0
      , amravati
      Reviewed on Jun 08, 2019
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      A year back i have been applying for housing loan with State bank of India, the loan amount which they have given to me was sufficient , i directly bank with SBI without any third party , the rate of interest they have charged me was up to 8.5% which i felt was less comparing to market rate, no processing fee was available .Still this loan is running.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 08, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am running a home loan with SBI and it was processed by the dealer. The rate of interest was very good and there was a minimal processing fee. The loan duration is 15 years. I have purchased a residential property. I am paying monthly 22K through ECS.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jun 07, 2019
    • SBI Home Loan
      "Trusted Bank"
      0.5 5.0/5 "Blown Away!"
      I took home loan from SBI , they guided well hence the loan processing was done on time. I took the loan amount of Rs. 15 lakhs with the tenure of 10 years, they taken some processing fee it was nominal. They gave me door step service, on time sanctioned the loan amount as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 06, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for more than 9 years ago. As per my requirement I got the loan amount for the duration of 20 years. The rate of interest is nominal and good. The processing fee is applicable and is nominal. The customer service is good.
      Was this review helpful? 3
      , chennai
      Reviewed on May 30, 2019
    • SBI Home Loan
      "Cheap home loan services"
      0.5 4.0/5 "Great!"
      Taken my home loan from SBI since the builder has a tie up with them. Since its a Government bank, the interest rate is very less. Documentation process was smooth. Total tenure period of the loan is 20 years in that 4 years has been completed.
      Was this review helpful? 1
      , chennai
      Reviewed on May 30, 2019
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken Home loan through State Bank Of India which i have directly applied ,The rate of interest and processing fee was very less ,The loan amount got sanctioned on time ,I have applied for the loan amount of 15lakhs for the tenure of 10years .The loan process was very smooth according to me .
      Was this review helpful? 4
      , chandigarh
      Reviewed on May 28, 2019
    • SBI Home Loan
      "Unhappy Service"
      0.5 1.0/5 "Really Bad"
      SBI home loan is not upto the mark, they are not providing the top up loans for the existing customer. Then I have moved to Bajaj Finserv, finally now I am getting from their end for loan enhancement but I am not interest to continue with them, initially I took the home loan amount of Rs.18 lakhs.
      Was this review helpful? 1
      , chennai
      Reviewed on May 28, 2019
    • SBI Home Loan
      "Documentation process should be easy "
      0.5 5.0/5 "Blown Away!"
      Taken my home loan from SBI. While I'm applying the home loan they have given me a very good offers. If i have an anything extra some amount and if we are saving in SBI savings account, they will reduce the interest rate which is SBI Max Gain plan which is only for the home loan customer. They have taken 4 days to sanctioned the loan and the documentation process was fine. I have sent the documents through online.
      Was this review helpful? 2
      , vadodara
      Reviewed on May 28, 2019
    • SBI Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in state bank of India . As per my requirement I received a loan amount for the duration of 30 years. The rate of interest is nominal and the processing fee is applicable. On time the loan got sanctioned from the bank. Customer service is good .
      Was this review helpful? 1
      , pune
      Reviewed on May 27, 2019
    • SBI Home Loan
      "Need to improve their service"
      0.5 3.5/5 "Pretty good"
      I was taken a home loan in SBI bank. When I was applying for a verification myself have to reach the branch often no there will not be proper customer service. They made delay process for the loan. The rate of interest is nominal. Then I have done loan transfer to another bank.
      Was this review helpful? 1
      , jaipur
      Reviewed on May 26, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for more than a year. As per my expectation I received a loan amount for the duration of 15 years. The rate of interest was nominal. Only the drawback which I felt was need to visit often to office for further process.
      Was this review helpful? 3
      , coimbatore
      Reviewed on May 20, 2019
    • SBI Home Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken a home loan STATE BANK OF INDIA for more than one year. As per expectation I received a loan amount as per my expectation for the tenure of twenty years. The rate of interest and processing fee is nominal when compare to other banks.
      Was this review helpful? 1
      , noida
      Reviewed on May 20, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in SBI bank for more than a year. As per my expectation I got the loan amount for the duration of 20 years. The rate of interest is nominal. Fee charges was applicable. The customer service is good and responsiveness on time.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 16, 2019
    • SBI Home Loan
      "Excellent "
      0.5 5.0/5 "Blown Away!"
      My home loan is running with SBI, the interest rate is very low but they gave me longer duration. I took the amount Rs.17 lakhs for duration of 20 years, the process fee was nominal around Rs.10,000 including insurance fee. The documentation are very simple, bank staff gave me nice response as well.
      Was this review helpful? 1
      , vadodara
      Reviewed on May 16, 2019
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.