SBI Home LoanSBI Home Loan

SBI Home Loan: Get quotes on Interest Rates 8.70% November ✓ Eligibility, Documents, Low EMI Rs.783/lakh, Application Status, Calculator ✍ Quotes at deal4loans.com.

Key Pointers of SBI Home Loan

Interest Rates upto 30 Lakhs 8.70% - 9.00%
Interest Rates 30 - 75 Lakhs 8.85% - 9.15%
Interest Rates above 75 Lakhs 8.95% - 9.25%
Maxgain above Rs. 20 lakhs & upto Rs. 30 lakhs 8.75% -9.10%
Maxgain above Rs. 30 lakhs & upto Rs. 75 lakhs 8.95% - 9.30%
Maxgain above Rs. 75 lakhs 9.10% - 9.45%
Top Up Home Loan 8.95% - 10.25%
Processing Fees 0% upto 31.12.2018
Repayment Period 5 - 30 years
Minimum EMI per 1 Lakh Rs.783 upto 30 Years

Get Instant Home Loan Quotes Online - Deal4loans.com & your CIBIL score absolutely FREE.

Loan Amount
Occupation
Annual Income
City
54,02,013 loan quotes taken till now.
  • 54 lakh customers serviced to get best Loan deals with deal4loans. Deal4loans views Published @ yourstory.com
  • As RBI cuts rate, should you go for fixed home loan Deal4loans views Published @ Economic Times online.

Latest Update as on 4 Oct 2018: New MCLR rate of State Bank of India are 8.50%. New Interest Rates for home loans starts from 8.70% to 9.50%.

MCLR Rate for 1 Year 8.50% Base Rate 8.70%
Repayment period 5 - 30 Years Processing Fees Zero upto 31.12.2018
Max Loan amount upto 30 Lakh property value 27 Lakh Max. loan amount abv 30 lakh 80 - 85%
Min. Income for Salaried 10000 p.m Min. Income for Self Employed 16500 p.m
Age Eligibility Factor 18 - 70 years Balance Transfer Pro. Fee NIL till 31.12.2018

SBI Home Loan Interest Rates 2018

Last updated on 19 November 2018
Home Loan Salaried Borrowers Non Salaried Borrowers
Loan Amount Women Others Women Others
Upto 30Lac* 8.70% - 8.80% 8.75% - 8.85% 8.85% - 8.95% 8.90% - 9.00%
Abv 30lac to 75Lac 8.85% - 8.95% 8.90% - 9.00% 9.00% - 9.10% 9.05% - 9.15%
Abv 75Lac 8.95% - 9.05% 9.00% - 9.10% 9.10% - 9.20% 9.15% - 9.25%
Max Gain Home Loan Salaried Borrowers Non Salaried Borrowers
Loan Amount Women Others Women Others
Above 20Lac Upto 30Lac* 8.75% - 8.85% 8.80% - 8.90% 8.95% - 9.05% 9.00% - 9.10%
Abv 30lac to 75Lac 8.95% - 9.05% 9.00% - 9.10% 9.15% - 9.25% 9.20% - 9.30%
Abv 75Lac to 3Cr 9.10% - 9.20% 9.15% - 9.25% 9.30% - 9.40% 9.35% - 9.45%
SBI Plot Loan Salaried Borrowers Non Salaried Borrower
Loan Amount Women Others Women Others
Upto 75 Lakh 9.20% 9.25% 9.40% 9.45%
Above Rs. 75 Lakh 9.25% 9.30% 9.45% 9.50%
Top Up Loan
Loan Amount Salaried Borrowers Non Salaried Borrowers
Above 5Lac Upto 20Lac 8.95% - 9.05% 9.10% - 9.20%
Above 20Lac Upto 1Cr 9.15% - 9.25% 9.30% - 9.40%
Above 1Cr Upto 2Cr 9.35% - 9.45% 9.50% - 9.60%
Above 2Cr Upto 5Cr 9.80% - 9.90% 9.95% - 10.05%
Above 5Cr 10.00% - 10.10% 10.15% - 10.25%

Latest Update: > New Interest Rates for home loans starts from 8.65% to 9.40%. SBI Home Loans offers a one stop solution to a home buyer. You can browse through the various range of home loan products, check your eligibility and apply online for sbi home loans!

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 31.03.2019)
  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:
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 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.

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.

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.
  3. Interest Rates starts from 9.15% to 9.40% for women, 9.20% - 9.45% for Others.

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. Interest rates starts from 8.90% - 10.25% for salaried.
  2. Interest rates starts from 9.05% - 10.35% for salaried.
  3. Home Loan Available as Overdraft.

SBI Bridge Home Loan

SBI offers "SBI Bridge Home Loan" for all the home owners who aspire to upgrade their homes - to bigger homes or better locations, by selling off their existing homes.
  1. Repayment period upto 2 years only.
  2. Loan Amount: Minimum Rs. 20 lakhs and Maximum Rs. 2 crores
  3. First Year Interest Rate - 10.90% p.a.
  4. Second Year Interest Rate - 11.90% p.a.

SBI Smart Home Top Up Loan

Its 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
  7. Term Loan Interest Rates starts from 9.45% for salaried, 9.95% for self employed.

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.
  5. Interest Rates for women starts from 8.80% - 9.35%
  6. Interest Rates for others starts from 8.85% - 9.40%.

SBI Green Home Loans

One of the initiatives for this purpose is incentivizing borrowers who go in for Green Projects, i.e. those projects which reduce Carbon Emissions and promote Renewable Energy. “Green Housing? or “Green Home? is one of the types of projects identified for this purpose.

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 MAXGAIN - Home loan as an Overdraft

Interest Rates charged on Maxgain Home Loan by State Bank of India:
  1. Maxgain above Rs. 20 lacs & upto 75 lakh = 8.85% p.a. (Female Borrowers), 8.90% (Other borrowers)
  2. Maxgain above Rs 75 lakh = 8.90% p.a. (Female Borrowers), 8.95% (Other borrowers)
  3. CRE Maxgain, irrespective of loan limit = 9.25% for Women & 9.30% for Other borrowers are applicable

SBI Tribal Plus Home Loan

SBI Triabl 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 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.