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    SBI Tribal Plus Home Loan

    The Tribal Plus Scheme was launched by the State Bank of India specifically for those people who reside in Tribal and Hill areas. It is a home finance scheme that is specially designed to assist people living in these areas from a financial perspective, since the mortgage of land or property is not possible in these locations. This loan can be applied for at an SBI branch closest to these areas. In case an individual does not currently live in any of the tribal or hilly locations, he or she can still avail of this scheme through his or her respective native village.

    What Can The SBI Tribal Plus Scheme Be Used For?

    The SBI Tribal Plus Scheme can be availed by any individual living in tribal and hill areas for the following purpose:

    • To construct, buy or acquire a brand new home or apartment
    • To buy or acquire an old house or apartment that has been in existence for not more than 10 years
    • To conduct repairs, renovations or expansions on any house or apartment that already exists

    Who Can Avail Of The SBI Tribal Plus Scheme?

    The SBI Tribal Plus Scheme is available to individuals residing in the following areas:

    • All individuals currently living in and around the tribal or hilly locations of Northeast India
    • Areas or locations surrounding:
      • Patna
      • Chandigarh
      • Lucknow
      • Bhubaneswar
      • Bhopal

    Advantages of the SBI Tribal Plus Scheme:

    The SBI Tribal Plus Scheme offers applicants living in hilly or tribal areas a number of advantages as outlined below:

    • Applicants can avail of this loan at extremely low rates of interest.
    • Interest is charged on the reducing balance on a day to day basis
    • There are absolutely no administrative fees or hidden charges
    • The documentation is simple and is kept to a bare minimum
    • Applicants do not need to provide any form of security to avail of this loan
    • There is zero penalty should an applicant decide to prepay his or her loan.
    • Zero prepayment charges help borrowers lower their interest over the long run and help them better manage their finances

    Eligibility Criteria for the SBI Tribal Plus Scheme

    Individuals looking to avail of the SBI Tribal Plus Scheme are required to fulfil the following eligibility criteria:

    • The minimum age of the applicant must be at least 21 years
    • The maximum age of the applicant should not be above 60 years
    • Applicants must be employed as per the following:
      • Employed permanently by any Central or State Government Undertaking
      • Employed permanently by a PSU or Public Sector Undertaking
      • Employed permanently by any reputable unit within the private sector
    • The applicant should be a Class I or Gazetted Officer for at least five years or for at least ten years for any other grade.
    • There should be a check-off facility available
    • Only individuals or tribal residing in hill areas surrounding the following locations are eligible for the scheme:
      • Northeast India
      • Patna
      • Chandigarh
      • Lucknow
      • Bhubaneswar
      • Bhopal
    • Individuals not currently living or residing in these locations are still eligible to avail of this loan in their native village

    Features of the SBI Tribal Plus Scheme:

    The main features of the SBI Tribal Plus Scheme are as follows:

    • There is no minimum loan amount that an applicant can apply for
    • The maximum loan amount that an applicant can apply for is 24 times his or her total monthly income, up to a maximum of Rs 5 lakhs. In this case, any income earned by the applicant’s spouse may also be taken into consideration, under the condition that the spouse in question is ready to act as a guarantor to the loan, and is currently permanently employed by any Private Sector Unit, Public Sector Undertaking or Government Unit.
    • The scheme offers repayment tenures of up to a maximum of 15 years
    • A minimum margin of 25% is expected

    Documentation Required for the SBI Tribal Plus Scheme:

    Individuals looking to avail of the SBI Tribal Plus Scheme are required to provide the following documents along with generally accepted documents such as identity and address proof:

    • An affidavit provided by the applicant in question stating that he or she holds sole ownership of the land he or she is residing on
    • Until the loan is actually liquidated, monthly installments towards the loan may also be accepted in the form of post-dated cheques
    • Under special circumstances, the applicant may have to also provide an agreement which states that he or she is willing to mortgage his or her plot of land

    Repayment Schedule for the SBI Tribal Plus Scheme:

    Applicants who have availed of the SBI Tribal Plus Scheme can make repayments towards their loan in the following manner, under the following conditions:

    • The loan should be paid back via EMIs over a duration of ten years
    • The applicant can avail of a repayment holiday, should he or she choose to do so, covering a certain period, depending on which of the following happens earlier:
      • The period of construction of the house
      • 1 year following the disbursal of the initial loan installment

    FAQs for SBI Tribal Plus Scheme:

    1. What are the processing fees involved when availing for a housing loan from the SBI Tribal Plus Scheme?

      A processing fee of 0.25% of the loan amount is applicable when applying for a loan through this scheme

    2. How is the loan disbursed under the SBI Tribal Plus Scheme?

      Disbursals of the loan will be carried out in the following manner:

      • In the case of construction of a house, the loan will be disbursed in phases mirroring the stages of construction
      • In the case of purchase of an already constructed house, the entire loan will be disbursed at one go.
    3. Is an applicant required to provide any form of security when availing of a loan through the SBI Tribal Plus Scheme?

      Usually no security is required under this scheme. However, the applicant may be required to provide some form of security should the bank explicitly required him or her to do so, in certain cases.

    SBI Tribal Plus Home Loan Reviews

    • 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? 3
      , 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? 3
      , 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? 2
      , 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? 4
      , 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? 4
      , 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? 1
      , 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? 0
      , 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? 5
      , 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? 5
      , chennai
      Reviewed on Dec 19, 2018
    • SBI Home Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a Home loan from the STATE BANK OF INDIA , Everything was good, be it the Customer support or the application process. The interest rate was very low. Most of the time I make the EMI payments online and it was a wonderful experience taking house loan from them.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 15, 2018
    • SBI Home Loan
      "Good in Service"
      0.5 4.0/5 "Great!"
      I have ongoing loan with SBI. I carry a salary account with SBI and when i applied it i didn't had to go through a big struggle. Things were taken care and my application was processed as expected. The interest rates are reasonable and its not a fixed interest rates. They have floating interest rates and i am happy with SBI customer services till date.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 12, 2018
    • SBI Home Loan
      "Repayment options are good"
      0.5 5.0/5 "Blown Away!"
      My home loan is with State Bank of India. They have a part payment facility and I can directly transfer to the EMI to the loan account. I can repay anything apart from the emi. This extra amount paid will reduce the principle and this process helps the lender a lot. Since I selected a project approved by the bank the process was quick too.
      Was this review helpful? 4
      , coimbatore
      Reviewed on Dec 12, 2018
    • SBI Home Loan
      "More than satisfactory"
      0.5 5.0/5 "Blown Away!"
      My home loan is with State Bank of India. There were no hassles in the process. The documentation process is good. The rate of interest and processing charges is also fine. The after loan services are good too. It has been a good process and I got the loan on time.
      Was this review helpful? 2
      , pune
      Reviewed on Dec 12, 2018
    • SBI Home Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken my home loan with State bank of India, there service is too good, they have quickly processed my loan amount, and the loan amount they have given me was sufficient and i am happy with the loan amount they have given me up to 3,00,000 and they have charged me nominal rate of interest , they have charged me up to 8.4% and the processing fee they have not charged me and i have taken 20 years tenure period for loan.
      Was this review helpful? 3
      , bangalore
      Reviewed on Dec 11, 2018
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