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 Rate | 8.50% – 10.15% p.a. |
| Loan Amount | Up to 90% of property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | NIL |
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 Score | Regular Home Loans | CRE Home Loans | Top Up Loans | Realty Loan | Tribal Plus | P-Lap | ||||
| Term Loan | Max Gain | Term Loan | Max Gain | Term Loan | Overdraft | Term Loan | CRE Term | Term Loan | Term Loan | |
| ≥800 | 9.15% | 9.55% | 9.35% | 9.65% | 9.55% | 9.85% | 9.45% | 9.65% | 9.25% | 10.90% |
| 750-799 | 9.25% | 9.65% | 9.45% | 9.75% | 9.65% | 9.95% | 9.55% | 9.75% | 9.35% | 11.00% |
| 700-749 | 9.35% | 9.75% | 9.55% | 9.85% | 9.75% | 10.05% | 9.65% | 9.85% | 9.45% | 11.10% |
| 650-699 | 9.45% | 9.85% | 9.65% | 9.95% | 9.85% | 10.15% | 9.75% | 9.95% | 9.55% | 11.20% |
| 5540-649 | 9.65% | 10.05% | 9.85% | 10.15% | 10.15% | 10.45% | 9.85% | 10.05% | 9.75% | 11.30% |
| NTC/ No Cibil Score/-1 | 9.35% | 9.75% | 9.55% | 9.85% | 9.75% | 10.05% | 9.65% | 9.85% | 9.45% | 11.10% |
Campaign Rates
- REGULAR HOME LOAN, FLEXIPAY, NRI, NON-SALARIED, PRIVILEGE, APON GHAR:
| CARD RATES (Term Loan) (Current EBR: 9.15%) | Rates during the Campaign (Term Loan) | |||||
| CIBIL | EBR+ Spread | Effective | CIBIL | EBR +Spread | Effective Rate | Concession over Card Rate |
| SCORE | Rate | SCORE | ||||
| > = 800 | EBR+0 % | 9.15% | > = 800 | EBR-0.45 % | 8.70%* | 45 bps |
| 750 – 799 | EBR+0.10 % | 9.25% | 750 – 799 | EBR-0.45 % | 8.70%* | 55 bps |
| 700 -749 | EBR+0.20 % | 9.35% | 700 -749 | EBR-0.35 % | 8.80%* | 55 bps |
| 650 – 699 | EBR+0.30 % | 9.45% | 650 – 699 | No Change | 9.45% | NIL |
| 550 – 649 | EBR+0.50 % | 9.65% | 550 – 649 | 9.65% | ||
| 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. | ||||||
- TOP-UP LOAN:
| CARD RATES (Term Loan) | Rates during the Campaign (Term Loan) | |||||
| (Current EBR- 9.15%) | ||||||
| CIBIL | EBR + Spread | Effective Rate | CIBIL | EBR + Spread | Effective Rate | Concession over Card Rate |
| > = 800 | EBR+0.40 % | 9.55% | > = 800 | EBR -0.05 % | 9.10%* | 45 bps |
| 750 – 799 | EBR+0.50 % | 9.65% | 750 – 799 | EBR + 0.05 % | 9.20%* | |
| 700 -749 | EBR+0.60 % | 9.75% | 700 -749 | EBR+0.15 % | 9.30%* | |
| 650 – 699 | EBR+0.70 % | 9.85% | 650 – 699 | No Change | 9.85% | NIL |
| 550 – 649 | EBR+1 % | 10.15% | 550 – 649 | 10.15% | ||
| NTC/NO | EBR+0.60 % | 9.75% | NTC/NO | 9.75% | ||
| CIBIL/-1 | CIBIL/-1 | |||||
| *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). | ||||||
- P-LAP:
| CARD RATES (Term Loan) | Rates during the Campaign (Term Loan) | |||||
| (Current EBR- 9.15%) | ||||||
| CIBIL | EBR+ Spread | Effective Rate | CIBIL | EBR+ Spread | Effective Rate | Concession over Card Rate |
| > = 800 | EBR+1.75% | 10.90% | > = 800 | EBR + 1.45 % | 10.60% | 30 bps |
| 750 – 799 | EBR+1.85% | 11.00% | 750 – 799 | EBR + 1.55 % | 10.70% | |
| 700 -749 | EBR+1.95% | 11.10% | 700 -749 | EBR+ 1.65 % | 10.80% | |
| 650 – 699 | EBR+2.05% | 11.20% | 650 – 699 | No Change | 11.20% | NIL |
| 550 – 649 | EBR+ 2.15% | 11.30% | 550 – 649 | 11.30% | ||
| NTC/NO | EBR+1.95% | 11.10% | NTC/NO | 11.10% | ||
| CIBIL/-1 | CIBIL/-1 | |||||
- OTHER VARIANTS:
- 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:
| Particulars | Processing Fee During the Campaign |
| For HL & Top Up | NIL |
| For P-LAP | Flat 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 Loan | NIL |
| Top-up Home Loan | NIL |
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
- List of papers/ documents applicable to all applicants:
- Employer Identity Card
- Loan Application: Completed loan application form duly filled in and affixed with 3 Passport size photographs
- Proof of Identity (Anyone): PAN/ Passport/ Driver’s License/ Voter ID card
- 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
- Property Papers:
- Permission for construction (where applicable)
- Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
- Occupancy Certificate (in case of ready-to-move property)
- Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
- Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
- Payment Receipts or bank A/C statements showing all the payments made to Builder/Seller
- Account Statement:
- Last 6 months’ Bank Account Statements for all Bank Accounts held by the applicant/s
- If any previous loan from other Banks/Lenders, then the Loan A/C statement for the last 1 year
- Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:
- Salary Slip or Salary Certificate of the last 3 months
- Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.
- Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:
- Business address proof
- IT returns for the last 3 years
- Balance Sheet & Profit & Loss A/c for last 3 years
- Business License Details(or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A./ Doctor and other professionals)