SBI Home loan

SBI Home Loans is the largest Mortgage Lender in India, which has helped over 30 lakh families to achieve the dream of owning a home.

State Bank of India offers attractive interest rates on home loans starting at 6.80% p.a. SBI is offering interest concession of 70 bps with rates starting at 6.70% pa. and zero processing fee. This offer is valid till 31st March 2021. The loan tenure can be extended up to 30 years, ensuring a comfortable repayment period. The processing fee on these loans is 0.35% of the loan amount (Min. Rs.2,000; Max. Rs.10,000) plus applicable taxes. Women borrowers are also offered an interest concession of 0.05% on SBI Home Loans. No hidden charges and a full waiver of prepayment charges make them one of the most preferred housing loan products in the country.

SBI Home Loan Interest Rate & Eligibility

EBR	6.65%
Interest Rate	6.80% p.a. – 7.50%p.a.
Processing Fees	0.35% – 1% of loan amount
Loan Amount	Based on eligibility
Rate Packages Available	Floating
Prepayment/ Foreclosure Charges	Nil
Max Tenure	30 Years

Features & Benefits

Packages of Exclusive Benefits
Low Interest rates. Interest calculation on a daily reducing balance.
Low Processing charges. No hidden costs.
Home loan also available as an overdraft. Optimally utilize your surplus funds.
No Prepayment penalties. Reduce your interest burden by prepaying the loan

SBI Home Loan Schemes

SBI Regular Home Loan
- Interest rate: 6.80% p.a. onwards
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- 0.05% lower interest rate for women
- Zero charges on pre-payments
- Available for applicants aged between 18 and 70
SBI Flexipay Home Loan
- Interest rate: Based on the credit score of the customer
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- Choice to repay just the interest component during the pre-EMI period
- Step-up EMIs in the following years
- 20% improvement in home loan eligibility for younger professionals
SBI Privilege Home Loan
- Interest rate with check-off: 6.95% p.a. onwards
- Interest rate without check-off: 7.00% p.a. onwards
- Processing fee: Fully waived
- Curated for central and state government employees
- Discount on interest rates if check-off is given
- No processing fee
SBI Shaurya Home Loan
- Interest rate with check-off: 6.95% p.a. onwards
- Interest rate without check-off: 7.00% p.a. onwards
- Processing fee: Fully waived
- Specifically for Defence personnel and the Armed Forces
- Lower interest rates and longer tenure options
- No processing fee
SBI Tribal Plus
- Interest rate: 10 bps above final rate
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- Specially for people living in tribal areas or hilly areas
- Repayment tenure of a maximum of 15 years
- Land mortgage not required; third-party guarantor allowed
SBI Home Loan to Non-Salaried Differential offerings
- Interest rate (Male): 7.15% onwards
- Interest rate (Female): 7.10% onwards
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- Exclusive scheme for individuals who have an income but do not earn a monthly salary
- Special offers on loans for buying a new residential unit, constructing a house, renovating or repairing your house, or transferring your loan from another bank
- Available for proprietors, partners, and directors of companies as well
SBI Pre-Approved Home Loan (PAL)
- Interest rate (Salaried male): 7.00% onwards
- Interest rate (Salaried female): 6.95% onwards
- Interest rate (Non-salaried male): 7.15% onwards
- Interest rate (Non-salaried female): 7.10% onwards
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- Loan sanctioned before a property is finalised
- Gives you more negotiating power with the seller or builder
- Benefits similar to that of the SBI Regular Home Loan
SBI Bridge Home Loan
- Interest rate (For 1st Year): 9.50%
- Interest rate (For 2nd Year): 10.50%
- Processing fee: 0.35% of the loan amount (min. Rs.5,000)
- Meant for people who are selling one property and buying another
- Helps cover for lack of funds in buying a new house while you’re waiting for the sales proceeds of your existing property
- Repayment tenure of up to 2 years
SBI Earnest Money Deposit (EMD)
- Interest rate: 10.45%
- Processing fee: 0.5% of the loan (min. Rs.1,000)
- Funds to pay the advance amount for booking a house or plot
- Can only be taken to pay booking amount for houses/plots sold by urban development authorities, housing boards, and other government entities
- Short-term loans of 1 year
SBI NRI Home Loan
- Interest rate (Salaried male): 7.00% onwards
- Interest rate (Salaried female): 6.95% onwards
- Interest rate (Non-salaried male): 7.15% onwards
- Interest rate (Non-salaried female): 7.10% onwards
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- Specifically for Non-Resident Indians (NRIs) to buy a house in India
- Discount on interest rate for women applicants
- No extra fees or interest rates when compared with Regular Home Loan
SBI Realty Home Loan
- Interest rate (Male): 7.70% to 7.90%
- Interest rate (Female): 7.65% to 7.85%
- Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
- Meant for purchase of a plot of land to construct your own house
- Borrowing limit of up to Rs.15 crore with repayment tenures of up to 10 years
- Option to take a separate SBI home loan for the actual construction
SBI Corporate Home Loan
- Processing fee: 0.5% of the loan amount (min. Rs.50,000; max. Rs.10 lakh)
- Exclusively for corporates to construct or buy houses for their employees
- Available for both public limited and private companies
- Also available for balance transfer of housing loans from one bank to another in the name of a company
CRA (Cost Records and Audit) Interest rate (p.a.)

Small Business (SB)-1 & SB-2 9.20%

SB-3 to SB-5 9.70%

SB-6 to SB-8 10.20%

SSB-9 & SB-10 10.95%
SBI Commercial Real Estate (CRE) Home Loan
- Interest rate: 50 bps above Home Loan interest rate (For All)
- Processing fee: 0.35% of the loan amount (min. Rs.5,000)
- Curated scheme for people who already own 2 or more houses and want to buy more
- Max. 3 houses can be bought under this scheme
- Benefits such as lower interest rate for women and overdraft facility available
SBI Loan Against Property (P-LAP)
- Interest rate (Salaried individual): 8.90% – 9.40%
- Interest rate (Professional/ business/ rental income of over 50% of net monthly income): 8.80% – 9.65%
- Processing fee: 1% of the loan amount (max. Rs.50,000)
- Pledge your property as collateral to get money for personal needs
- No pre-payment fee
- Available only for personal purposes and not for business needs
SBI Reverse Mortgage Loan
- Interest rate (SBI Pensioners): 8.05%
- Interest rate (Others): 9.05%
- Processing fee: 0.50% of the loan amount (min. Rs.2,000; max. Rs.20,000)
- Specifically for senior citizens with a property owned or occupied by them
- Helps generate or supplement income after retirement
- Loan need not be repaid during the borrower’s lifetime
SBI Pradhan Mantri Awas Yojana Subsidy SchemeIf you meet the eligibility criteria of PMAY, then you can apply for it through SBI’s home loans such as the Regular Home Loan, Flexipay Home Loan, Privilege Home Loan, and others. Check with the bank whether you can apply for PMAY on your existing or new home loan.
Pradhan Mantri Awas Yojana can help you save money on your first house. Under the scheme, you can get subsidy of up to Rs.2.67 lakh. The subsidy is available to individuals earning up to Rs.18 lakh per year. The maximum loan tenure can be 20 years.