SBI Home Loan

State Bank of India, India’s largest mortgage lender, offers home loan at lower interest rates to its customers. SBI home loan helps to fulfil the customer’s dream of owning a home. SBI comes with a variety of home loan products at attractive interest rates. At present, SBI home loan interest starts from 6.90%.

SBI has launched home loans linked to Repo Linked Lending Rate. You can apply for home loan in SBI under Pradhan Mantri Yojana Scheme (PMAY). With SBI home loan, you can avail interest subsidy up to Rs.2.67 lakhs under PMAY-CLSS. Keep reading this article to know all about SBI home loan!

What are the features and benefits of SBI Home Loan?

SBI home loan comes with the following features and benefits.

No prepayment penalties
Overdraft facility available
Up to Rs.2.67 lakhs interest subsidy under PMAY-CLSS
Home loans are linked to Repo Linked Lending Rate.

What are the eligibility and interest rate for SBI Home Loan?

SBI offers bouquet of exclusive products designed for each customer segment. The eligibility, interest rate and processing fees for each home loan product is given below.

Schemes
Resident Type
Minimum Age
Maximum Age
Loan Amount
Loan Tenure
Interest Rate
Processing Fee
SBI Regular Home Loan Resident Indian 18 years 70 years – Up to 30 years 7% onwards 0.35% of the loan amount (Min Rs.2000 Max Rs. 10,000) + GST
SBI NRI Home Loan Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs) 18 years 60 years – Up to 30 years

Salaried Male: 7% onwards

Salaried Female: 6.95% onwards

Non-Salaried Male: 7.15% onwards

Non-Salaried Female: 7.10% onwards 0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Flexipay Home Loan Resident Indian 21 years 45 years to apply for loan and up to 70 years for repayment – Up to 30 years Based on the customer’s credit score. 0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Privilege Home Loan Resident Indian 18 years 75 years – Up to 30 years

With check off- 6.95% p.a onwards

Without check off- 7% p.a onwards

No Processing Fee
SBI Shaurya Home Loan Resident Indian 18 years 75 years – Up to 30 years Additional 10 bps added to the final rate No Processing Fee
SBI Pre-Approved Home Loan Resident Indian 18 years 70 years – Up to 30 years

Salaried Male: 7% onwards

Salaried Female: 6.95% onwards

Non-Salaried Male: 7.15% onwards

Non-Salaried Female: 7.10% onwards

0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Realty Home Loan Resident Indian 18 years 65 years – Up to 10 years 7.70% – 7.90% 0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Home Top Up Loan Resident Indian & NRI 18 years 70 years – Up to 30 years 6.65% (EBR) + 85 bps to 290 bps 0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Bridge Home Loan Resident Indian 18 years 70 years Rs.20 lakhs to Rs.2 crores Up to 2 years

For First Year: 9.50%

For Second Year: 10.50%

0.35% of the loan amount (Max Rs.5000)
SBI Smart Home Top Up Loan Resident Indian & NRI 18 years 70 years Up to Rs.5 lakhs Up to 20 years

Term loan – Salaried: 8.05%

Non-Salaried: 8.55%

Overdraft – Salaried: 8.55%

Non-Salaried: 9.05%

Rs.2000 + GST
SBI YONO Insta Home Top-Up Loan – – – – – 8.20% Rs.2000 + GST
SBI Corporate Home Loan – – – – –

SB-1 & SB-2: 9.20%

SB-3 to SB-5: 9.70%

SB-6 to SB-8: 10.20%

SB-9 and SB-10: 10.95%

0.50% of the loan amount (Min Rs.50,000 & Max Rs. 10,00,000) + GST
SBI Home Loan to Non-Salaried Resident Indian 18 years – Rs.50,000 to Rs.50 crores Up to 30 years

Male: 7.15 onwards

Female: 7.10% onwards

0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Tribal Plus Resident Indian 21 years 60 years Up to Rs.10 lakhs Up to 15 years 10 bps above final rate 0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Earnest Money Deposit Resident Indian 18 years – Rs.15 lakhs for CSD/DSP account holders and Rs. 10 lakh for others Repayment should be made in lump sum in case of successful allotment. 10.45% 0.50% of the loan amount (Min Rs.1000) + GST
SBI Reverse Mortgage Loan Resident Indian

Single Borrower: 60 years

Joint Borrower: 58 years

– Rs.3 lakhs to Rs.1 crore 10 to 15 years, depending upon the age of the borrowers

For Public: 9.05%

For SBI Pensioners: 8.05%

0.50% of the loan amount (Min Rs.2000 & Max Rs. 20,000) + GST
SBI Commercial Real Estate Loan Resident Indian 18 years 70 years – Up to 30 years 50 bps above Home Loan interest rate 0.35% of the loan amount (Min Rs.5000) + GST
SBI Loan Against Property Resident Indian 18 years 70 years – Up to 15 years

Salaried Individual: 8.90% – 9.40%

Business/Profession/Rental income of over 50% of Net Monthly Income: 8.80% – 9.65%

1% of the loan amount (Max Rs.50,000) + GST

How to calculate SBI Home Loan EMI?

You can calculate EMI for home loan taken in SBI using SBI Home Loan EMI Calculator.
With home loan calculator, you can calculate the EMI, monthly interest and monthly reducing balance on the basis of principal loan amount, loan tenure and interest rate.
Just click here and select the loan amount, loan tenure and interest rate to get EMI amount for SBI home loan.

What are the documents required to apply for SBI Home Loan?

Applicant documents:

Identity card of the Employer
Duly filled loan application form affixed with 3 passport size photographs
Proof of Identity: Passport/PAN/Voter ID/Driving Licence
Proof of Address: Aadhaar card/Driving Licence/Passport/Utility bills

Property statement:

Permission for construction
Allotment letter/ Stamped Sale Agreement/ Registered Sale Agreement (Only for Maharashtra)
Certificate of occupancy
Property tax receipt, Maintenance bills, Electricity bill, Share certificate (Only for Maharashtra)
Approved copy of Plan and Builder’s Registered Development Agreement, Conveyance Deed (For new property)
Payment receipts or bank account statement showing all payments made to Builder/Seller.

Account Statement:

Applicant’s last 6 months bank account statements for all bank accounts.
Loan account statement for last 1 year and previous loan from bank/lender if any.

Income Proof for Salaried: