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-30years	5years-30years
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

Loan Amount	Margin (Min.)	Maximum LTV Ratio (Max.)
Upto Rs. 30 Lacs	10%	90%
Above Rs. 30 Lacs. to 75 lac	20%	80%
Above Rs. 75 Lac	25%	75%

Loan Amount	Rs. 2000000 / 20 Lakh
ROI / Rate of Interest	8.75%
Repayment Tenure	15 Years
EMI per month	Rs. 19,989

Year	Principal	Interest	Balance Amount
1	Rs. 67,535	Rs. 172,333	Rs. 1,932,465
2	Rs. 73,686	Rs. 166,182	Rs. 1,858,779
3	Rs. 80,397	Rs. 159,471	Rs. 1,778,382
4	Rs. 87,722	Rs. 152,146	Rs. 1,690,660
5	Rs. 95,714	Rs. 144,154	Rs. 1,594,946
6	Rs. 104,432	Rs. 135,436	Rs. 1,490,514
7	Rs. 113,946	Rs. 125,922	Rs. 1,376,568
8	Rs. 124,326	Rs. 115,542	Rs. 1,252,242
9	Rs. 135,651	Rs. 104,217	Rs. 1,116,591
10	Rs. 148,009	Rs. 91,859	Rs. 968,582
11	Rs. 161,493	Rs. 78,375	Rs. 807,089
12	Rs. 176,203	Rs. 63,665	Rs. 630,886
13	Rs. 192,255	Rs. 47,613	Rs. 438,631
14	Rs. 209,769	Rs. 30,099	Rs. 228,862
15	Rs. 229,007	Rs. 10,992	Rs. 0

SBI Home Loan Schemes or Products

SBI Balance Transfer Home Loan

SBI offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking. more details on sbi home loan balance transfer here  

SBI NRI Home Loan

SBI NRI Home Loan allows many NRIs (Non Resident Indians) to get home loans when investing in properties.

• Repayment up to 30 years
• Home Loan Available as Overdraft
• Interest Concession for Women Borrowers
• Non Resident Indians (NRIs) or Persons of Indian Origin (PIOs)
• Attested copy of valid Passport and visa.
• Employer Identity Card
• Address proof mentioning the current overseas address
• PIO Card issued by Government of India. (in case of PIOs)
• More details on SBI NRI Home Loans here

SBI Flexipay Home Loan

SBI Flexipay Home loan provides an eligibility for a higher loan amount exclusively for the salaried borrowers. It offers customer the option to pay only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs.

• 20% higher home loan eligibility
• Repayment up to 30 years
• Interest charge on daily reducing balance
• More details on SBI FlexiPay Home Loan

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.

• Home Loan Available as Overdraft
• No pre payment penalty
• Interest concession for women borrowers
• More details on sbi pre approved home loan

SBI Realty Home Loan

SBI Realty provides an opportunity to the customer to purchase a plot for construction of a dwelling unit. The construction of the house should take place within 5 years from date the loan has been sanctioned.

1. Maximum loan amount upto 15 Crore.
2. Repayment period upto 10 years only.

SBI Realty Home Loan Interest Rates

SBI Home Top Up Loan

SBI offers "SBI Home Top Up Loan" to their customer to borrow certain amount over and above their home loan amount. If you already have home loan with state bank of india, but need more amount than you can opt for top up loan.

1. Home Loan Available as Overdraft.
2. Repayment of upto 30 Years
3. Low processing fees

SBI Smart Home Top Up Loan

It’s just simple, Go to your nearest branch and loan sanctioned within minutes. You can get loan for any purposes such as meeting expenditure on education, marriage, health care, repair/renovation/furnishing of the house, etc

1. No Documents required.
2. No Pre Payment Penalty
3. Loan Amount: upto Rs. 5 lakhs
4. CIBIL Score of 550 or higher
5. Satisfactory repayment track record of 1 one year or more, after completion of moratorium
6. No other Home Top-up or Insta Home Top-up loans should be active

SBI Smart Home Top up Loan Interest Rates

SBI Home Loan to Non-Salaried Special scheme for Non Salaried individuals its the best value home loan to customers. Available for the end use of purpose of construction / acquisition of residential house/flat, takeover of Home Loans from other Banks/HFCs and repair/renovation of existing house/flat.

1. Repayment up to 30 years
2. Should be in business existence for at least last 3 years
3. Must have earned Net Profit in the last two years
4. Loan Amount: Minimum: Rs. 50,000/- & maximum: Rs. 50 crores.

SBI Home Loan to Non Salaried Interest Rates

Pre-EMI Interest by Builders Scheme Under the Pre-EMI Interest by Builders Scheme, the builder agrees to service full or part of the Pre-EMI interest (during the moratorium period) debited to the Home Loan account of the individual borrower as an incentive to Home buyers to generate maximum sales. In cases of Part Pre-EMI Schemes, the Pre-EMI interest at the stipulated interest rate is serviced by the Builders whereas the remaining Pre-EMI interest is serviced by the borrowers.

SBI Suraksha SBI offers life insurance linked to the housing loan. The premium of RinN Raksha is funded by SBI and the repayment is spread over the entire tenor of the loan in EMIs. This facility will be available to new Home Loan accounts and to an existing Home Loan in case the customer now opts to avail SBI Life cover.

SBI Corporate Home Loan Interest Rates

1. State Bank of India offers corporate home loans on interest rates of 9.40% to 11.15%.

SBI Tribal Plus Home Loan SBI Tribal Plus is a Special Home Loan Scheme designed for Hill/Tribal areas (where mortgage of the property is not possible) for extending financial assistance to individuals. This loan is sanctioned for Purchase or construction of a new house/flat (without mortgage of land)

1. Maximum loan amount is Rs.10 Lacs
2. Maximum Repayment period is 15 years

FAQS about SBI Home Loans:

How will SBI decide the loan amount I am eligible for?

Bank will determine your home loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependents, 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.

Other Products from SBI (State bank of India)

1. SBI Personal Loan
2. SBI Car Loan
3. SBI Credit 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

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

• 1800 112 211 (Toll Free)
• 1800 425 3800 (Toll Free)

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