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    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

    SBI Sahyog Niwas Scheme Reviews

    • SBI Home Loan
      "Good in Service"
      0.5 3.0/5 "Satisfactory"
      When i was looking for a home loan, I had applied with with SBI . When i had submitted the documents , my application was taken care and it was processed. There was no delay and processing was on time. Interest rates are reasonable compare to the market value.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Jan 18, 2019
    • SBI Home Loan
      "Best financial service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan from State bank of India where i have transfered the loan from other bank . Where they are giving satisfying rate of interest . There is nominal charges for the processing fees for the documentation . Am pretty much satisfied with the rate of interest which they have provided.
      Was this review helpful? 2
      , pune
      Reviewed on Jan 18, 2019
    • SBI Home Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      It was quite a good experience with them, where the loan amount which they had provided has been sufficient, the service charges where nominal. The interest rate with them has been less when compared to other banks. There has not been any charges additionally and the customer support of them has been helpful as well.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 18, 2019
    • SBI Home Loan
      "Good Financial service"
      0.5 4.5/5 "Excellent!"
      Rate of interest is bit low compared to other bank they have given best rate of interest am fully satisfied with it , They took time like 1 month for the processing and approval for the documentation as they do property evaluation . . They have charges some nominal fees for the housing loan approval Am pretty much satisfied with the customer service .
      Was this review helpful? 2
      , kochi
      Reviewed on Jan 18, 2019
    • SBI Home Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I had taken my housing loan with State bank of India, the loan amount they have given me was sufficient but was below to my expectation ,was okay for me , and the rate of interest they have charged me was nominal,and the processing fee they have charged me was very nominal,there overall service was good, now my loan got closed.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 17, 2019
    • SBI Home Loan
      "Good Experience for Housing loan"
      0.5 4.0/5 "Great!"
      SBI is best for the home loan, they come down to 9% of interest its good compared to private sectors. The documentation verification is very easy and very secured as well. Even the bank gave me balance transfer, pre closure, part closure options.
      Was this review helpful? 5
      , mumbai
      Reviewed on Jan 14, 2019
    • SBI Home Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with them has been quite good and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of additional charges which they had made so far.
      Was this review helpful? 5
      , gandhinagar
      Reviewed on Jan 10, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this loan almost two years back and the experience was quite good. The loan amount has been sufficient and the interest rate has been quite low when compared with the market rate. The charges which they had made has been nominal and there has not been any hassle faced with their services.
      Was this review helpful? 4
      , bhubaneshwar
      Reviewed on Jan 10, 2019
    • SBI Home Loan
      "Need improvement"
      0.5 1.0/5 "Really Bad"
      SBI gave me the 11% of interest for the home loan amount of Rs. 10 lakhs for the loan period of 15 years, I have taken flexible loan option, but I am not fine with the service and response is very slow from their end. I suggest they need to improve the service.
      Was this review helpful? 2
      , malda
      Reviewed on Jan 10, 2019
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with Home loan from SBI was very good, the process was smooth and i received my loan amount on time. The loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and tenure period for this loan is 30 years.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jan 09, 2019
    • SBI Home Loan
      "Communication should be transparent"
      0.5 4.0/5 "Great!"
      SBI home loan experience is good, they gave me the least interest around 9.2% for the loan amount of Rs. 15 lakhs. The bank approved the tenure of 15 years they have part payment and balance transfer option. They hide some charges on insurance amount, they keep charging the fee around 6000 on yearly basis.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jan 08, 2019
    • SBI Home Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan a while back and it has been still running. The loan amount has been sufficient and the interest rate with them has been very low when compared with the market rate. Even during the process their customer support executives has been responsive.
      Was this review helpful? 1
      , visakhapatnam
      Reviewed on Jan 08, 2019
    • SBI Home Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my housing loan with State bank of India, they have given me sufficient loan amount , and the rate of interest they have charged me up to 8.5% which was nominal for me, and the processing fee they have charged me was nominal, and the tenure period i have taken up to 10 years, overall service is good.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 07, 2019
    • SBI Home Loan
      "Interest savings loan"
      0.5 5.0/5 "Blown Away!"
      I have bought a home loan from State bank of India. I purchased this loan in 2011. Its because of the Good features like Max i have selected this SBI. When i took the loan, the interest rate was 9.25% and based on the RBI it used to fluctuate on yearly basis. They have charged me a processing fee of Rs. 6000 which is quite nominal. I have selected the tenure period of 25 years.
      Was this review helpful? 4
      , pune
      Reviewed on Jan 02, 2019
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my home loan with State bank of India, there service is good, they have given me sufficient loan amount and they have charged me rate of interest up to 8.75% which is nominal and even processing fee they have charged me was nominal ,but i dont remember they have charged me it quite long back i have taken this loan, the tenure period is up to 12-15 years, overall service is good.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 02, 2019
    • SBI Home Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan with SBI and my experience was good, the process was smooth and i received the loan amount on time. Rate of interest was nominal when compared to other banks. Customer service was fine with this bank and tenure period for this loan is 25 years.
      Was this review helpful? 6
      , ghaziabad
      Reviewed on Dec 29, 2018
    • SBI Home Loan
      "You can ahead with SBI home loan"
      0.5 5.0/5 "Blown Away!"
      5 years back, my home loan was purchased from SBI. Its a floating interested rates based on the RBI Guidelines. There was no processing fee when i purchasing the loan. I bought the loan amount of Rs. 10 lakhs. I pay the premium amount of Rs. 9000 approximately. The processing of getting a loan is little tedious and i have got the loan on time
      Was this review helpful? 6
      , bangalore
      Reviewed on Dec 28, 2018
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this loan has been great and the loan amount which they had provided has been sufficient as well. The interest rate with them was not too high when compared with the market rate and there was no other charges other than the processing fee.
      Was this review helpful? 7
      , new delhi
      Reviewed on Dec 20, 2018
    • SBI Home Loan
      "Lot of time consuming loan"
      0.5 5.0/5 "Blown Away!"
      Its not easy to get a loan from SBI and lots of paper work and lots of time consuming however the interest rates are less compared to others. There was a loan amount of Rs. 10 lakhs. I have pre-closure the loan without any charges. Recommendable bank for home loan.
      Was this review helpful? 4
      , kolkata
      Reviewed on Dec 19, 2018
    • SBI Home Loan
      "Very good service"
      0.5 4.5/5 "Excellent!"
      I have taken a home loan with SBI and my experience was good, the process was smooth and i received the loan amount on time. Rate of interest was nominal when compared to other banks. Customer service was fine with this bank and tenure period for this loan is 15 years.
      Was this review helpful? 7
      , chennai
      Reviewed on Dec 19, 2018
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