State Bank of India offers home loans with interest rates starting from 8.50% p.a., with repayment tenures of up to 30 years and loan amounts covering up to 90% of the property’s value. SBI provides a range of specialized home loan products catering to defence personnel, government employees, non-salaried individuals, buyers of ‘green’ homes, and those residing in hilly or tribal areas. Additional benefits of SBI home loans include a 0.05% interest rate concession for women borrowers, home loan overdraft facility, balance transfer option, and top-up facility.
SBI Bank Home Loan Highlights
Particulars
Details
SBI Home Loan Interest Rate
8.50% – 9.85% p.a.
Loan Amount
Up to 90% of property value
Loan Tenure
Up to 30 years
Processing Charges
0.35% of loan amount (Rs 2,000-Rs 10,000)
Types of Home Loans
Type of Home Loan
Purpose
LTV Ratio
Tenure
Special Features
ICICI Bank Home Loan
Purchase or construction of home
Up to 90%
Up to 30 years
Flexible repayment options, balance transfer facility
ICICI Bank Home Loan for NRI
Purchase or construction of home (for NRIs)
Up to 80%
Up to 30 years
Special interest rates, easy repatriation of funds
ICICI Bank Home Improvement Loan
Home renovation or extension
Up to 90%
Up to 15 years
Easy documentation, quick disbursal
ICICI Bank Home Loan Balance Transfer
Transfer existing home loan from another bank
Up to 90%
Up to 30 years
Lower interest rates, top-up loan facility
ICICI Bank Pradhan Mantri Awas Yojana (PMAY)
Purchase or construction of home with co-borrower
Up to 90%
Up to 30 years
Enhanced eligibility, joint tax benefits
ICICI Bank Pradhan Mantri Awas Yojana (PMAY)
Affordable housing under government scheme
Up to 90%
Up to 20 years
Interest subsidy under PMAY, reduced EMI
Table of Contents
Why Choose SBI Bank Home Loan?
SBI Bank Home Loan Features & Benefits
Lowest Interest Rates
Low Processing Fee
No Hidden Charges
No Prepayment Penalty
Interest on Daily
Reducing Balance
Repayment up to 30 years
Interest Concession for Women applicant
Overdraft Facility available
SBI Bank Home Loan Interest Rate
Customer Type
Effective Rate Of Interest
For Salaried
8.70% to 9.20%
For Self-employed
8.70% to 9.20%
Eligibility criteria for SBI Home Loan
Requirements
Salaried
Self-Employed
Residency
Indian/NRI/PIO
Indian/NRI/PIO
Age
18 to 70 years
18 to 70 years
Minimum Net Income
Rs 25,000 monthly
As per bank’s norms
SBI Processing Fee and Charges
Charge Type
Amount
Processing Fees (Regular Home Loan)
0.35% of the loan amount ( min Rs. 2,000)
Processing Fees (Other Home Loan Products)
0.35% of the loan amount (min Rs. 2,000)
Home Top-Up Loan
0.35% of the loan amount (min Rs. 2,000)
Personal Loan against Property (P-LAP)
1% of loan amount
YONO Insta Home Top-Up Loan
Rs. 2000
Reverse Mortgage Loan
0.50%, min Rs. 2000
Earnest Money Deposit (EMD) Scheme
0.50%
Suraksha Loan
NIL
Privilege & Shaurya Home Loans
NIL
Apon Ghar (Home Loan up to Rs. 15 lakhs)
NIL
Kerala Govt Employees Home Loans Scheme
NIL
CERSAI Charges
Rs. 50 – Rs. 100 plus GST
Prepayment Charges (Floating Rate Loans)
NIL
Prepayment Charges (Fixed Rate Loans)
2% of the principal outstanding
Documents required for SBI Home Loan
Documents
Salaried Applicants
Self-employed Applicants
Proof of Identity
✔
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Address Proof
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Age Proof
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Passport-size Photographs
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Last 3 month’s Salary Slips
✔
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Latest Form-16 and IT returns
✔
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Income Tax Returns
✖
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At least last 2 years’ Balance Sheet and Profit & Loss A/c Statements
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Last 12 months A/c Statements of the business entity and of the individual
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Own Contribution Proof
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Employment Contract
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Last 6 months’ Bank Statements
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Passport size photograph of all the applicants
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Cheque for processing fee favoring SBI
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Business Profile
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Latest Form 26 AS
✖
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List of Directors and Shareholders with their individual shareholding certified by a CA / CS
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Memorandum and Articles of Association of the Company
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Partnership deed
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General Documents for SBI Housing Loan
ID card of the employer
Duly filled application form with 3 passport sized photographs
ID Proof: PAN/Voter ID/Passport/Driving License
Address Proof: Copy of telephone bill/electricity bill/water bill/piped gas bill/passport copy/Aadhar card
Property Papers
Permission for construction
Sale agreement Registered (only Maharashtra), Allotment letter, Stamped Sale Agreement
