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SBI Home Loan

The most favored Home Loan provider-SBI Bank offers Home Loan with attractive interest rates along with Latest Schemes and Benefits. SBI also provides a Housing loan with different schemes - SBI Easy Home Loan, Advantage Home Loan, SBI Home Plus, Her home loan for women.

State Bank of India is the country’s largest bank in terms of number of customers, employees, advances and deposits. Despite being a government-owned bank, it has not only managed to stay ahead of its private sector peers, but continue to be one of the most profitable banks. It remains the ‘trend-setter’ for the banking industry when it comes to taking decisions on interest rates, and product innovations. It has a market cap of Rs 1,90,000 crore and total loan outstanding as of March 2015 was Rs 11 lakh crore.

Latest Update: Interest Rates on Home Loans reduce to 9.45% as per MCLR Based Rates.(02 2016).

SBI Home loan Details:

Interest rates 9.35% - 9.40%
Processing fees 0.35% for every Lakh+Service tax or Rs. 10,000 whichever is less subject to minimum Rs 2000
Prepayment charges Nil
Repayment options 30 years
Loan to Value Upto 90%
Max. loan amount upto Rs.10 crore

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SBI Home Loan Interest Rates: Last updated as on 02 May 2016

HOME LOANS - INTEREST RATES With effect from 01.05.2016

(MCLR: 9.15%)
Borrowers' category Home Loan interest rate, irrespective of loan limit EMI per Lac for 30 year Tenor Maxgain above Rs. 20 lacs & upto Rs. 1 crore Maxgain above Rs. 1 crore CRE Maxgain, irrespective of loan limit
Women 20 bps above the MCLR i.e. 9.35% p.a Rs. 830 30 bps above the MCLR i.e. 9.45% p.a. 55 bps above the MCLR i.e. 9.70% p.a. 75 bps above the MCLR i.e. 9.90% p.a.
Others 25 bps above the MCLR i.e. 9.40% p.a. Rs. 834 35 bps above the MCLR i.e. 9.50% p.a. 60 bps above the MCLR i.e. 9.75% p.a. 80 bps above the MCLR i.e. 09.95% p.a

SBI Home Loan Interest Rates 2015 – 9.80% - 9.85%. But after October’ 2015 it goes down to 9.50% -9.55%. It helps borrowers to save around Rs 21.98 on per lac emi for 30 years. For example if you can take a loan amount of around 20 lakh for 30 years at 9.50% rate of interest than you can save around Rs 439.60 on per month EMI or Rs 158256 in 30 years tenure.

Eligibility Criteria, Documentation required for SBI Home Loan

  Salaried Self employed
Age 18 years to 70years 21 years to 70years
Income Rs.1,20,000 (p.a.) Rs.2,00,000 (p.a.)
Loan Amount Offered 5,00,000 - 1,00,00000 5,00,000 - 2,00,00000
Tenure 5years-20years 5years-20years
Current Experience 2years 3years
Documentation 1) Application form with photograph
2) Identity & residence proof
3) Last 3 months salary slip
4) Form 16
5) Last 6 months bank salaried credit statements
6) Processing fee cheque
1) Application form with photograph
2) Identity & residence proof
3) Education qualifications certificate & proof of business existence
4) Business profile,
5) Last 3 years profit/loss & balance sheet
6) Last 6 months bank statements
7) Processing fee cheque

SBI Processing Fees Charges – NIL till 30 April 2016. (Under festive season schemes)

Upto Rs. 25 Lacs - 0.25% of loan amount, minimum Rs. 1000/-

Above Rs. 25 Lacs and upto Rs. 75 Lacs - Rs. 6,500/-

Above Rs. 75 Lacs - Rs. 10,000/-

Margin/ LTV Ratio:
Loan Amount Margin (Min.) Maximum LTV Ratio (Max.)

Upto Rs. 20 Lacs



Above Rs. 20 Lacs.

20% - 25%

75% - 80%

Repayment period: Maximum 30 years (or) Up to the age of 70 years (the age by which the loan should be fully repaid) of the borrower, whichever is early.

Moratorium period (Repayment holiday): The moratorium period is included within the maximum repayment period.

You Can Calculate Your Home Loan EMI with this Calculator: Just Enter your Loan Amount, Interest Rates and Loan Period/Tenure:

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount
EMI Calculation Per Lac for SBI Home Loans as per Loan Tenure Period  
Loan Amount Repayment Time Interest Rate EMI Per Month
Rs.1,00,000 5 Year 9.40% - 9.45% Rs.2095.30 - Rs.2097.74
Rs.1,00,000 10 Year 9.40% - 9.45% Rs.1288.51 - Rs.1291.24
Rs.1,00,000 15 Year 9.40% - 9.45% Rs.1038.20 - Rs.1041.21
Rs.1,00,000 20 Year 9.40% - 9.45% Rs.925.61 - Rs.928.87
Rs.1,00,000 25 Year 9.40% - 9.45% Rs.866.76 - Rs.870.22
Rs.1,00,000 30 Year 9.40% - 9.45% Rs.833.57 - Rs.837.21

Example – You opt 24 Lakh Loan amount for 20 Years so your emi calculation will be 24 x Rs.928.87 = Rs.22292.88

Due to Cut in Interest Rates by .10% borrowers can save upto Rs.63.9 per month on 10 lac loan amount for 20 years, Rs.95.85 on 15 lakhs & Rs.127.80 on 20 lac. So Total savings for 20 years are Rs.7668 on 10 Lakh loan amount, Rs.17253 on 15 lakh & Rs. 30672 on 20 lakh respectively.

SBI Home Loan Products:

SBI MAXGAIN - Home loan as an Overdraft

The loan is sanctioned as an Overdraft with added flexibility to operate the Home Loan Account like SB or Current Account. Bank also provides Cheque Book/Net Banking facility for the purpose.
✓ Minimum Loan amount under Maxi Gain Home Loan- Rs.20 lacs
✓ Maximum Loan amount sanctioned under Maxgain Home Loan - No Cap

Interest Rates charged on Maxgain Home Loan by State Bank of India:
✓ Maxgain above Rs. 20 lacs & upto Rs. 1 crore = 9.50% p.a. (Female Borrowers), 9.55% (Other borrowers) ✓ Maxgain above Rs. 1 crore = 9.75% p.a. (Female Borrowers), 9.80% (Other borrowers) ✓ CRE Maxgain, irrespective of loan limit = 9.95% for Women & 10.00% for Other borrowers are applicable

SBI YUVA Home Loan - A Special scheme for Youth

Under Yuva Home loan scheme bank provide 20% higher loan amount than that of normal home loan to employees of Private sector companies, MNCs, govt companies, PSUs & govt employees.
Eligibility Criteria for Yuva Home Loan:
✓ Age between 21 years to 45 years
✓ Minimum Per month income should be Rs.3000/-
✓ In first 36 Months/ 3 years only interest applied on home loan is payable. Regular EMI starts after completion of 3 Years.

SBI Realty Home Loan - For Purchase of Plot for construction

SBI offers this loan to purchase a plot for construction of house. Construction of house should commence within 2 years from the date of availment of SBI Realty Loan.
✓ Maximum loan amount a borrower can get Rs.10 crores.
✓ Maximum Repayment period under Realty Home loan is 15 Years.

SBI Pal or SBI Pre Approved Home Loan

✓ SBI PAL provides sanction of Home Loan limits to the customers before finalization of the property which enables them to negotiate with the Builder/Seller confidently.
✓ The loan eligibility will be assessed on the basis of income details of the applicant.
✓ Non-refundable processing fee as applicable to the Home Loan will be collected at the time of sanction.
✓ Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4 months. Property papers will be required to be submitted by the borrower within the validity of PLAL. Processing fee will not be levied again.
✓ Under Pre Approved Home Loan Scheme Minimum Loan amount: Rs.10 Lacs.


Under this scheme all borrowers who paid home loans with a satisfactory repayment track of at least one year are eligible.
✓ Minimum Top-up Loan is Rs.3 Lac & Maximum is Rs.5 Crore.
✓ Processing Fees: 0.35% of Loan Amount subject to a minimum of Rs 1500/- and Maximum of Rs 10,000/-
Interest Rates charged on Top-up loan is different from Normal Home Loan
Top-up loan amount Term Loan Loan Overdraft
Upto Rs. 50 lacs 10.10% 10.35%
Above Rs. 50 lacs & Upto Rs. 2 crores 10.35% 10.60%
Above Rs. 2 crs & upto Rs. 5 crores 10.85% 11.10%

Disbursement of SBI Home Loan

The loan will be disbursed only on the following conditions:
1. All the security documents prescribed have been executed by borrower/co-applicant (s)/ guarantor/s
2. A valid mortgage (equitable or registered if equitable mortgage is not possible) has been created in favour of the Bank as per the laws of the State.
3. Wherever creation of mortgage is likely to be delayed for any valid reason, suitable security including third party guarantee, has been taken for the interim period.
4. The loan will be disbursed in stages where a loan for construction is desired or purchase is through payment to seller in installments.
5. All necessary statutory compliances are in place.
SBI may disburse the quantum of loan in lump sum or in installments at its own discretion depending on the level of construction of the House/Flat as acceptable to SBI.
SBI will disburse loan amount directly to the builder/seller/society as the case may be and as requested / specified/ directed by the customer to SBI at the time of each disbursement. SBI shall not be responsible / liable in any manner whatsoever for any delay by the customer in providing such request/ specification/ direction to SBI and the customer shall not claim any costs, charges and expenses in any relation to any non-disbursal by SBI due to any such delay by the customer.
The Bank reserves the right to collect any tax if levied by the State/Central Government and/or other Authorities in respect of this transaction.

FAQS about SBI Home Loans:

How will SBI decide the loan amount I am eligible for?
Bank will determine your loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

Do I get tax benefits on the SBI home loan?
Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.

Can I get a higher loan through my existing loan account to buy a new property?
Yes, you could go in for a ‘Top up Home Loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.

What is an under construction property?
An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

Can I repay my loan ahead of schedule?
Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges.

Trends of last 5 Years SBI Home loans vs RBI Repo rate

Date Change by RBI in Rate Cut New Repo Rate Date New Base Rate of SBI
29-Sept-15 0.50% - 6.75% 29-Sept-15 9.30%
2-Jun-15 0.25%- 7.25% 8-June-15 9.70%
4-Mar-15 0.25%- 7.50% 7-Apr-15 9.85%
15-Jan-15 0.25%- 7.75%
28-Jan-14 0.25% + 8.00%
29-Oct-13 0.25% + 7.75% 7-Nov-13 10.00%
20-Sep-13 0.25% + 7.50% 19-Sep-13 9.80%
3-May-13 0.25% - 7.25%
19-Mar-13 0.25% - 7.50%
29-Jan-13 0.25% - 7.75% 4-Feb-13 9.70%
17-Apr-12 0.50% - 8.00% 20-Sep-12 9.75%
25-Oct-11 0.25% + 8.50% 13-Aug-11 10.00%
16-Sep-11 0.25% + 8.25%  
26-Jul-11 1.25% + 8.00% 11-Jul-11 9.50%
25-Jan-11 6.50% 14-Feb-11 8.25%

Latest Trends on SBI Home Loans - May 2016

SBI cuts is MCLR Rates for year – Now its 9.15% annual. (02 May 2016)
User searches for sbi home loan eligibility based on salary up 80% as on 09 March 2016
State Bank home loan login saw a jump of 70% in search queries as per google trends in last 7 days
Searches for sbi home loan online apply increased 70% in past 1 week.
In previous week, Search for SBI home loan scheme increased more than 150 percent as per trends on 22 Feb 2016
Borrowers searches for SBI home loan interest rate calculator increased around 140% in last 7 days. (22 February 2016)
sbi home loan emi searches increased by 80% in past week as on 15.02.2016
sbi home loan interest certificate saw an increase in search because of upcoming Income Tax Return dates.
User searches for sbi housing loan increased by 70% as on 15.01.2016
Customers searches for sbi home loans up around 38% within last week as per google trends
Users search for sbi home loan details saw a jump of 40% on 12.01.2016
SBI Home loan application status search increased by 130% as on 30.12.2015
SBI Home Loan interest rates 2015 was the most popular query of December 2015 in terms of search on Google.

Other Products from SBI (State bank of India)

1. SBI Personal Loan
2. SBI Car Loan
3. SBI Card 
4. SBI Business Loan
5. SBI Property Loan
6. SBI Two Wheeler Loan
7. SBI Education Loan
8. SBI Fixed Deposit Rates
9. SBI Gold Loan

Source: State Bank of India website.

Information on deposits & Loan Schemes and services also available. Call 1800112211
(Tollfree from BSNL/MTNL)

Registered Office-State Bank of India
State Bank Bhavan Central Office 8th Floor,
Madame Cama Marg, Nariman Point,
Mumbai - 400021
Maharashtra - India

News About SBI Home Loan:

SBI introduced MCLR rates - Dated 01 April 2016.

SBI teaser home loan re-introduced – Date: 01 February 2016

SBI Property expo “Utsav 2015” in Bhubaneshwar (11-13 Dec) - Date: 10 December 2015

SBI home loan mela scheme launched - Date: 04 December 2015

Pay 0.57% Fee for Lowest Interest Rates - Date: 06 October 2015

.40% Reduction in Base Rate by SBI on 29 Sep 2015 - Date: 30 September 2015

SBI Staff helps to boost home loan growth - Date: 12 September 2015

Visit Official Website of SBI.

Disclaimer : Please note that the interest rates and eligibility criteria given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

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