SBI offers a wide range of Home loans to buy or construct a house, purchase a house, build or renovate a house, and repair a house. It offers all these services at Best Home Loan Interest Rates along with a hassle-free loan application process, easy loan repayment options, and flexible tenures. myfoxboston

Also, it offers a huge variety of Home loans that includes Top up Loans, Home Improvement Loans, and Home Extension Loans. Also, the customers can opt to transfer the existing home loan from other lenders to SBI. visit today business time

SBI Home Loan- A Snapshot
Interest Rate8.50% – 10.15% p.a.
Loan AmountUp to 90% of property value
Loan TenureUp to 30 years
Processing ChargesNIL

SBI is offering a concession on Home Loan Interest Rates between 15 basis points and 30 basis points. Under this offer, the home loan interest rates range between 8.5% to 10.15% and no processing fees will be levied by SBI on top-up loans and regular home loans but an applicant must have a good CIBIL score.

Home & Home Related Interest Rate Charge

Cibil ScoreRegular Home LoansCRE Home LoansTop Up LoansRealty LoanTribal PlusP-Lap 
Term LoanMax GainTerm LoanMax GainTerm LoanOverdraftTerm LoanCRE TermTerm LoanTerm Loan
NTC/ No Cibil Score/-19.35%9.75%9.55%9.85%9.75%10.05%9.65%9.85%9.45%11.10%

Campaign Rates

CARD RATES (Term Loan) (Current EBR: 9.15%)Rates during the Campaign (Term Loan)
CIBILEBR+ SpreadEffectiveCIBILEBR +SpreadEffective RateConcession over Card Rate
> = 800EBR+0 %9.15%> = 800EBR-0.45 %8.70%*45 bps
750 – 799EBR+0.10 %9.25%750 – 799EBR-0.45 %8.70%*55 bps
700 -749EBR+0.20 %9.35%700 -749EBR-0.35 %8.80%*55 bps
650 – 699EBR+0.30 %9.45%650 – 699No Change9.45%NIL
550 – 649EBR+0.50 %9.65%550 – 6499.65%
NTC/NO CIBIL/-1  EBR+0.20 %  9.35%NTC/NO CIBIL/-1  EBR-0.35 %  8.80%  55 bps
For Shaurya & Shaurya Flexi Product: 10 bps concession over the above-proposed rates (Not applicable for takeover cases/resale / ready-to-move-in cases, wherein, separate concessions are available)
*For HL Takeovers & Resale / Ready to Move Properties: 20 bps concession over the above rates (For CIBIL Score of 700 and above).
The above rates are inclusive of a 5bps concession available to women borrowers and a 5 bps concession available for salary account holders for Privilege and Apon Ghar.
A premium of 10 bps for loans up to 30 lacs for LTV >80% & < =90% shall continue.
CARD RATES (Term Loan)Rates during the Campaign (Term Loan)
(Current EBR- 9.15%)
CIBILEBR + SpreadEffective RateCIBILEBR + SpreadEffective RateConcession over Card Rate
> = 800EBR+0.40 %9.55%> = 800EBR -0.05 %9.10%*  45 bps
750 – 799EBR+0.50 %9.65%750 – 799EBR + 0.05 %9.20%*
700 -749EBR+0.60 %9.75%700 -749EBR+0.15 %9.30%*
650 – 699EBR+0.70 %9.85%650 – 699  No Change9.85%  NIL
550 – 649EBR+1 %10.15%550 – 64910.15%
NTC/NOEBR+0.60 %9.75%NTC/NO9.75%
*20 bps concession over the above rates to be accorded for Top Up Loans associated with Takeover loans. (For CIBIL Score of 700 and above).
  1. P-LAP:
CARD RATES (Term Loan)Rates during the Campaign (Term Loan)
(Current EBR- 9.15%)
CIBILEBR+ SpreadEffective RateCIBILEBR+ SpreadEffective RateConcession over Card Rate
  > = 800  EBR+1.75%  10.90%  > = 800  EBR + 1.45 %  10.60%  30 bps
750 – 799EBR+1.85%11.00%750 – 799EBR + 1.55 %10.70%
700 -749EBR+1.95%11.10%700 -749EBR+ 1.65 %10.80%
650 – 699EBR+2.05%11.20%650 – 699  No Change11.20%  NIL
550 – 649EBR+ 2.15%11.30%550 – 64911.30%
NTC/NO  EBR+1.95%  11.10%NTC/NO  11.10%
  2. 5 bps concession on card rates for MaxGain & Realty loans (except all types of CRE Loans) for borrowers with CIBIL Score greater than or equal to 750.

Processing Fee Waiver:

ParticularsProcessing Fee During the Campaign
For HL & Top UpNIL
For P-LAPFlat INR 10,000/- plus applicable GST
Advocate & Valuer Fee- Actual expenses, will be collected from the customer and realized separately as being done hitherto.

Processing Fees and Charges for SBI Home Loan

Home LoanNIL
Top-up Home LoanNIL

Eligibility Criteria for SBI Home Loan

  • Age: 18-70 years
  • Nationality: Indian/NRI/PIO

For NRIs

  • Age: 18-60
  • Nationality: NRI and Person of Indian Origin

For Flexipay Home Loan

  • Age: 21-45 years for loan application and up to 70 years for repayment
  • Nationality: Indian

For Privilege Home Loan/Shaurya Home Loan

  • Age: 18-75 years
  • Nationality: Indian

For Realty Home Loan

  • Age: 18-65 years
  • Nationality: Indian

For YONO Insta Home Top-up Loan

Pre-selected customers based on various credit checks such as satisfactory repayment, residual loan tenure, etc.

SBI Home Loan to Proprietor/ partner

If the applicant is a proprietor in a proprietorship firm or is one of the partners in a partnership firm or is a Director in some company/firm

  • Should be in existence for at least 3 years
  • Should have earned Net Profit in the past 2 years
  • Regular and standard existing credit facilities
  • If the proposed house property is jointly acquired by a proprietor and proprietary firm, the firm should be debt-free or an existing borrower

For Tribals

  • Age: 21-60 years
  • Nationality: Indian

Features of SBI Home Loan

  • Home Loan products to suit every customer’s need
  • Low-Interest Rates
  • Low Processing Fee
  • No Hidden Charges
  • No Pre Payment Penalty
  • Interest charges on Daily Reducing Balance
  • Repayment up to 30 years
  • Home Loan Available as Overdraft
  • Interest Concession for Women Borrowers

Documents Required

  1. List of papers/ documents applicable to all applicants:
  2. Employer Identity Card
  3. Loan Application: Completed loan application form duly filled in and affixed with 3 Passport size photographs
  4. Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card
  5. Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
  6. Property Papers:
  7. Permission for construction (where applicable)
  8. Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
  9. Occupancy Certificate (in case of ready-to-move property)
  10. Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
  11. Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
  12. Payment Receipts or bank A/C statements showing all the payments made to Builder/Seller
  13. Account Statement:
  14. Last 6 months’ Bank Account Statements for all Bank Accounts held by the applicant/s
  15. If any previous loan from other Banks/Lenders, then the Loan A/C statement for the last 1 year
  16. Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
  17. Salary Slip or Salary Certificate of the last 3 months
  18. Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
  19. Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:
  20. Business address proof
  21. IT returns for the last 3 years
  22. Balance Sheet & Profit & Loss A/c for last 3 years
  23. Business License Details(or equivalent)
  24. TDS Certificate (Form 16A, if applicable)
  25. Certificate of qualification (for C.A./ Doctor and other professionals)

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