SBI Home LoanSBI Home Loan

Apply for SBI Home Loan online at interest rates as low as 8.60%. Check out the Eligibility, Processing Fees, Low EMI Rs. 776/lakh, SBI home loan Application Status, Calculator and Quick Apply at Deal4loans.

SBI is the first choice of every home loan seekers in India. State Bank of India home loan offered by SBI is the ideal choice because of lowest home loan interest rate, Lower Processing fees, special offers every month for women, Govt. employees etc. On this page you can check all the necessary or important points about the SBI home loan which helps you in taking a decision which is beneficial for you in long term of home loan. Compare all banks latest home loan rates for better pick.

Highlights of SBI Home Loan

Interest Rates Term Loan 8.60% - 9.65%
MaxGain Home Loans 8.60% - 9.65%
Top Up Home Loans 9.10% - 10.15%
Processing Fees Max.10000 + GST
Repayment Period 5 - 30 years
Minimum EMI per 1 Lakh Rs.776 upto 30 Years
Get Instant Home Loan Quotes Online - & your CIBIL score absolutely FREE.
Loan Amount
Annual Income
54,02,013 loan quotes taken till now.
► Home Loan Rates starts from As low as 8.60%
► Compare Top Banks – SBI, HDFC Bank, ICICI Bank, PNB Housing etc.

EBLR rate for 1 Year 9.15% Base Rate 8.70%
Repayment period 5 - 30 Years Processing Fees 10000 + GST
Max Loan amount upto 30 Lakh property value 27 Lakh Max. loan amount abv 30 lakh 80 - 85%
Min. Income for Salaried 12000 p.m Min. Income for Self Employed 16500 p.m
Age Eligibility Factor 18 - 70 years Balance Transfer Pro. Fee 10000 + GST

SBI Home Loan Interest Rates June 2024

Last updated on 16 June 2024
CIBIL SCORE Home Loans Top Up Loans MaxGain
>=750 8.60% 9.10% 9.10%
700 - 749 8.70% 9.30% 9.30%
650 - 699 9.45% 9.85% 9.85%
550 - 649 9.65% 10.15% 10.15%
NTC / NO CIBIL / -1 8.70% 9.30% 9.30%
  1. 5 bps concessions for Maxgain & Reality Loans for borrowers with CIBIL Score greater than or equal to 750.
  2. 10 bps concession over the above proposed rates to ensure offerings for serving defence personnel under Shaurya & Shaurya Flexi Loans.
  3. 20 bps concession over the above rates (For CIBIL SCORE of 700 and above)
  4. Premium of 10 bps for loans upto 30 lacs for LTV >80% & above <=90% shall continue.
  5. Maxgain available for only "Ready to move-in" properties.

SBI - PMAY (Pradhan Mantri Home Loan) Scheme

Prime Minister has announced Pradhan mantri home loans interest subsidy scheme. Credit linked subsidy will be provided on home loans taken by eligible urban poor (EWS/LIG) for acquisition, construction of house.

Under Affordable Housing through Credit Linked Subsidy there are 4 schemes:

  1. CLSS - EWS / LIG - ( Loan term 20 years, subsidy upto 2.67 lakh)
  2. Revised CLSS - EWS/LIG - ( Loan term 20 years, subsidy upto 2.67 lakh)
  3. CLSS (MIG-I) - (Scheme available upto 31.03.2022)
  4. CLSS (MIG-II) -
  5. More details on SBI Pradhan Mantri Home Loan Scheme
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.

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-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
Margin/ LTV Ratio for SBI Home Loan
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%

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.

SBI Home Loan EMI Calculator

Calculate your loan emi on the basis of loan amount, loan term & interest rates within seconds. Click to Calculate sbi home loan emi

Home Loan EMI calculator is a basic calculator that helps you to calculate the EMI, monthly interest and monthly reducing balance on the basis of principal amount, loan tenure and interest rate.

For an Example:

Loan Amount Rs. 2000000 / 20 Lakh
ROI / Rate of Interest 9.15%
Repayment Tenure 20 Years
EMI per month Rs. 18,188
A Calculation Chart of EMI / Principal / Interest as below:
Year Principal Interest Balance Amount
1 Rs. 36,773 Rs. 181,483 Rs. 1,963,227
2 Rs. 40,282 Rs. 177,974 Rs. 1,922,945
3 Rs. 44,127 Rs. 174,129 Rs. 1,878,818
4 Rs. 48,338 Rs. 169,918 Rs. 1,830,480
5 Rs. 52,951 Rs. 165,305 Rs. 1,777,529
6 Rs. 58,003 Rs. 160,253 Rs. 1,719,526
7 Rs. 63,540 Rs. 154,716 Rs. 1,655,986
8 Rs. 69,605 Rs. 148,651 Rs. 1,586,381
9 Rs. 76,249 Rs. 142,007 Rs. 1,510,132
10 Rs. 83,523 Rs. 134,733 Rs. 1,426,609
11 Rs. 91,495 Rs. 126,761 Rs. 1,335,114
12 Rs. 100,227 Rs. 118,029 Rs. 1,234,887
13 Rs. 109,793 Rs. 108,463 Rs. 1,125,094
14 Rs. 120,271 Rs. 97,985 Rs. 1,004,823
15 Rs. 131,749 Rs. 86,507 Rs. 873,074
16 Rs. 144,325 Rs. 73,931 Rs. 728,749
17 Rs. 158,096 Rs. 60,160 Rs. 570,653
18 Rs. 173,186 Rs. 45,070 Rs. 397,467
19 Rs. 189,713 Rs. 28,543 Rs. 207,754
20 Rs. 207,891 Rs. 10,437 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  
Loan Amount CIBIL / CIC Score Interest Rates
Upto 30 Lakh >800 9.35%
Above 30 Lakh 750 – 799 9.45%
700 – 749 9.55%
650 - 699 9.65%
550 - 649 9.85%

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

>=800 9.45%
750 - 799 9.45%
700 - 749 9.65%
650 - 699 9.75%
550 - 649 9.85%
NTC/ NO Cibil Score/ -1 9.65%

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

Loan Amount Salaried
Top Up Loans 9.10% - 10.75%
Top up loans + Take over 8.90% - 9.95%
Processing Fees NIL till 30.04.2023
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.

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 Home Loan 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 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.

How to Apply for an SBI Home Loan online?

Follow the steps below to apply for an SBI home loan online:

  • – Fill up the application form given on top of the page.
  • – Enter your desired loan amount, monthly income, city and employment status.
  • – A Wish Expert will get back to you as soon as possible.
  • – Executive will ask some basic questions related to you to check your eligibility.
  • – Your application will be further processed if you have all the necessary documents (income and property)
  • – Your CIBIL score will be checked as it might fetch a lower rate of interest.
  • – After the approval, it usually takes 7 business days for loan amount disbursal.
How much loan can I get on a 50000 salary?

At a salary of INR 50,000 you can apply for a home loan of INR 30 lakhs approximately. However, the various expenses from your salary are taken into consideration while determining your home loan amount. Therefore, it is advisable to contact your bank to know your eligible amount.

What are the different types of SBI home loan?

Regular Home Loan, Top Up home loan, Insta Home Loan Top-Up, Flexipay, SBI Maxgain, NRI home loans, SBI Pre-Approved Home Loan (PAL), Privilege, Shaurya are a few of the different types of SBI home loans.

What is maximum home loan tenure in SBI?

The maximum home loan tenure in SBI is up to a period of 30 years.

How long does it take for SBI home loan approval?

After submitting the loan application, SBI generally takes about 3 to 7 working days to approve your home loan.

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.