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  • SBI Sahyog Niwas Scheme

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  • 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
      

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    SBI Sahyog Niwas Scheme Reviews

    • SBI Home Loan
      "Easy loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan from SBI and the loan amount was Rs. 30 lakh. The rate of interest was 8.15% and i am paying EMI of Rs. 25k. Customer service was good. I received this loan instantly and i applied this loan through online channel.There is no pre closure charges.
      Was this review helpful? 2
      , pune
      Reviewed on Dec 09, 2019
    • SBI
      SBI Home Loan
      "Before approval documentation process was fine"
      0.5 5.0/5 "Blown Away!"
      Purchased the home loan in SBI, 5 years back. I am paying the EMI amount of Rs. 22000 every months after i have taken the top up. They have provided me a interest rate of 7.25%. I got the loan amount of Rs. 27 lakhs and i have selected the tenure period of 240 months. They do have a partial payment and pre-closure facility without any additional charges.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Nov 12, 2019
    • SBI Home Loan
      "Good Home loan"
      0.5 4.0/5 "Great!"
      I never contacted SBI customer care service regarding a home loan services. Interest rate was less so I have chosen this bank for my home loan. The interest rate was nominal which is 8.35%. I got a loan amount of Rs. 50L and they are providing pre - closure and partial payment facility. I got a loan with in 1 week.
      Was this review helpful? 3
      , chennai
      Reviewed on Nov 08, 2019
    • SBI Home Loan
      "Best Loan service"
      0.5 4.0/5 "Great!"
      Home Loan services was fine from State bank of Travancore since i got the offer. Once i applied the loan, they approved the loan on the spot. I purchased the loan amount of Rs. 7 lakhs and the provided me a interest rate of 7.2% at the time of purchase in the year of 2008. But when i am closing the loan in the year of 2015, the interest rate was 8.5%. I have done the pre-closure and there is no additional charges for that.
      Was this review helpful? 6
      , tirunelveli
      Reviewed on Oct 23, 2019
    • SBI Home Loan
      "It's okay"
      0.5 4.0/5 "Great!"
      I had a home loan with State Bank of India and it was closed without any issues. They took longer time for the verification and lot of paper works. The interest rate is flexible and fine. There are charges for processing fee and plus insurance fee.
      Was this review helpful? 5
      , thiruvananthapuram
      Reviewed on Oct 17, 2019
    • SBI Home Loan
      "Excellent Loan Service"
      0.5 5.0/5 "Blown Away!"
      SBI Home Loan is excellent because I've a salary account with them. They offered me a interest rate of 9.5% approximately. I took the loan amount of Rs. 23 lakhs so far i have got only Rs. 16 lakhs since my building is under construction. My EMI is not yet started. They sanctioned the loan in 2 working days.
      Was this review helpful? 3
      , dindigul
      Reviewed on Oct 14, 2019
    • SBI Home Loan
      "Easy and best loan"
      0.5 5.0/5 "Blown Away!"
      SBI is a best bank and they had a better option. There is only simple documentation required and executive came to my place for collecting all the documents. I got the loan within 7 days. SBI did not taken any processing charges and they gave better and cheap interest. They take minimal time and better response from the customer care so i had chosen SBI for my home loan.
      Was this review helpful? 4
      , agra
      Reviewed on Oct 11, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through State Bank Of India .The rate of interest and the processing fee was nominal ,I have got the loan amount on time and got a clear picture about the loan process ,I have availed this loan for the tenure of 20 years .I have completed only 2 years of EMI so far .,
      Was this review helpful? 10
      , vizianagaram
      Reviewed on Oct 04, 2019
    • SBI Home Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      Nearly 11 years before I had taken a home loan with STATE BANK OF INDIA which was processed directly to them.The loan amount was sufficient for the tenure period of 15 years. The rate of interest and processing fee are nominal. They have sanctioned a loan within few days and the process was good.
      Was this review helpful? 3
      , itanagar
      Reviewed on Oct 04, 2019
    • SBI Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken a home loan with SBI bank about 5 years ago. It was processed through bank directly. The charges are nominal in this bank. Since I was holding a savings account process was smooth and done the process on time. The amount given for 23 lakhs not sufficient as per my requirement for the tenure of 15 years.
      Was this review helpful? 3
      , madurai
      Reviewed on Sep 15, 2019
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      My Father has taken a home loan with State Bank of India. There was no hassle on the loan process, the manager was clearly explained about the charges. They have processed the loan faster and the rate of interest was reasonable when compared with other banks. We have purchased a residential property.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Sep 14, 2019
    • SBI Home Loan
      "Very easy to get loan"
      0.5 5.0/5 "Blown Away!"
      Taken my home loan from State bank of India. In the year of 2016, they have sanctioned the loan within 15 days to 20 days. Loan amount is near about Rs. 34 lakhs and the interest rate is 8.2%. My salary account is lying with SBI therefore i got the loan from SBI. I have been paying the EMI amount of Rs. 35000 every month and i have selected the tenure period of 18 years.
      Was this review helpful? 2
      , kolkata
      Reviewed on Sep 12, 2019
    • SBI Home Loan
      "Interest rate is good"
      0.5 4.0/5 "Great!"
      Chosen my home loan from SBI its a Nationalized bank. They took almost 2 months to sanctioning the loan. The given interest rate is 8%. I have chosen the tenure period of 15 years. They do have a partial payment and pre-closure without any charges.
      Was this review helpful? 3
      , chennai
      Reviewed on Aug 26, 2019
    • SBI Home Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have completed my home loan with State Bank of India long back. I got lot of reference for choosing SBI from different people and more over its a Nationalized Bank and I can trust them 90%. Its been an excellent experience. Even I am happy with rate of interest as they offered me 9% and the tenure is 25 years.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Aug 23, 2019
    • SBI Home Loan
      "Good Loan service"
      0.5 4.0/5 "Great!"
      SBI interest rates are competitive. I have to pay some amount for conversion like whenever they are changing the interest rate. I need to switched to MCRL loan for that i need to pay Rs. 3500 for that i get the current interest rates by bank and 40 paise by MCRL.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 17, 2019
    • SBI Home Loan
      "Good home loan service"
      0.5 4.0/5 "Great!"
      Chosen my home loan from State bank of India because its a Government firm and SBI has approved my home loan even though i am working under partnership firm. I took the loan amount of Rs. 42 lakhs and the provided interest rate of 8.95%. Me and brother combine taken this loan and i'm paying the EMI of Rs. 36000 every month.
      Was this review helpful? 4
      , mumbai
      Reviewed on Aug 09, 2019
    • SBI Home Loan
      "Best Experience"
      0.5 4.0/5 "Great!"
      My home loan experience is good with SBI they gave me lower interest when compared to other bank, I would say home loan cum overdraft loan called SBI max. They have sanctioned 100% of loan with 8.4% of interest and I added co applicant with out any hassles. I got the amount within 15 days.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Aug 03, 2019
    • SBI Home Loan
      "BETTER"
      0.5 3.0/5 "Satisfactory"
      The rate of interest was higher with the loan. I am using the loan since from last 12 years, the documentation process was done and i got the loan. The loan amount given was 12L, the rate of interest was 13-14approx, and now it is 9%. The duration for repaying the loan was 20 years.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jul 29, 2019
    • SBI Home Loan
      "Need to decrease interest charges"
      0.5 4.0/5 "Great!"
      I have taken a home loan in STATE BANK OF INDIA on 6 years before. The loan was applied directly to bank which was sanctioned on time and process was easy. I received with sufficient amount for the tenure of 15 years. The rate of interest and processing fee are 9% bit high.
      Was this review helpful? 5
      , jaipur
      Reviewed on Jul 26, 2019
    • SBI Home Loan
      "Very good loan"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan from State bank of India. They are sending the mail regarding the offers. The interest rate is less and i get a quick response hence i have chosen them. Took the loan amount of Rs. 7 lakhs for that they have offered me a interest rate of 9.72%. I am paying the EMI amount of Rs. 6000 for the tenure period of 18 years.
      Was this review helpful? 5
      , kolkata
      Reviewed on Jul 23, 2019
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