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SBI Bank Home Loan

It’s time to say I own my new home, get up to 85% of property value at affordable rates. SBI Bank offers various types of home loan to aspirant home buyers.
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SBI Bank Loan for Home is one such top & oldest bank in India established in 1955 & well-known bank for its services. SBI Bank Home Loan interest rates starts from 6.80% onwards which is the lowest interest rates as compared to other banks & housing finance companies. It offers a wide range of exclusive benefits for their home loan buyers.Be one of them & enjoy the benefits:-

SBI Bank Home Loan Features & Benefits

Features:-

  • SBI launched Home Loans linked to Repo Linked Lending Rate
  • Home Loan & Home top up Loan also available as an Overdraft
  • SBI Bank Home Loan Interest Rate is most affordable
  • Home Loan & Home top up Loan also available as an Overdraft

Benefits:-

  • No prepayment penalties
  • Avail 2.67 lakh as an interest subsidy under PMAY Scheme
  • No hidden charges or administrative charges
  • Lowest interest rates
  • SBI Bank offers Home Loan Balance Transfer facility   
  • Zero Processing fee in availing SBI bank home loan                                           

 

SBI Bank Various types of Home Loans

SBI Regular Home Loan:-

Most preferred home loan provider known as SBI Bank regular home loan as they already helped 30 lakh families dream of owning a new home comes true. It offers various benefits that fit your requirements.

SBI Privilege Home Loan:-

This facility is specially designed for government employees, employees who come under central or state & other individuals with pensionable service are eligible to apply for SBI privilege home loan to obtain various benefits.

SBI NRI Home Loan: -

Through the help of SBI Bank NRI home loan facility can able to purchase, construct a home with affordable monthly EMI without affecting your monthly regular expense.

SBI Flexipay Home Loan: -

This scheme is specially designed to those applicants who faced issues earlier by rejecting their loan application due to being ineligible. As SBI flexipay home loan increase your eligibility chances 1.2times higher than comparing other home loan scheme. It provides you the comfort to pay only interest during the moratorium pre-EMI period & for prepayment they won’t charge any additional fee as others do.

SBI Pre-approved Home Loan: -

On your pre-approved home loan, you can avail sanction through the help of SBI that too with maximum loan amount sanction with additional features.

SBI Shaurya Home Loan: -

SBI Shaurya Home Loan scheme is especially dedicated to army & defence personnel. Therefore, the benefits included in this scheme can only be availed by defence employees. You will get lowest interest rates on home loan with longer repayment period to pay back the principal loan amount.

SBI Realty Home Loan: -

Have you already decided the plot that you want to buy & need loan for construction, worry not SBI realty home loan aid you to fulfill your needs up to 15 crore loan amounts can sanction. You just need to construct your house before 5 years from the date of loan sanction.

SBI Bridge Home Loan: - 

Are you looking to upgrade your home to bigger home or change location & want to sell your existing home to buy a new home as per your desired choice but have a shortfall of funds. Let your worry be aside when SBI bank offers bridge home loan to extract the gap between selling & buying without causing any burden.

SBI Smart Home Loan Top-Up: - SBI smart home loan top-up allows to get loan in hassle-free manner on your current home loan, no documentation required & just visit your nearest SBI bank branch.

SBI Bank Home Loan Balance Transfer: -Switch your existing home loan running from bank or housing finance companies to SBI Bank home loan balance transfer to save big on EMI & enjoy more additional benefits offered by SBI Bank.

SBI YONO Insta Home Loan Top-up: - SBI YONO Insta home loan top-up allows you to get extra loan amount on your current home loan through fully digital sanction & disbursement. No paperwork & No branch visit required, seating from anywhere you can avail Insta home Top-up loan.

SBI Corporate Home Loan: - State bank of India (SBI) Corporate home loan are offered to both private limited & public corporate entities for construction & acquisition of residential units at reasonable interest rates. 

SBI Home Loan to Non-Salaried Differential offering: -This scheme is fully dedicated to non-salaried individuals. The best part of the scheme is as it increases home loan eligibility by up to 15% as compared to other home loan scheme offered to non-salaried individuals.

SBI Bank Tribal Plus: - This scheme is especially designed for hilly & tribal areas for the purpose of buying new house/flat, construction. Renovation, improvement, repair work. This scheme is applicable at state bank of India branch in hilly & tribal areas.

SBI Reverse Mortgage Loan: - If you own a residential property in India then, Get the advantage of additional income on your older age through the aid of SBI reverse mortgage loan.

SBI (Commercial Real Estate Home Loan) CRE: - This scheme mainly targets the individual who already own 2 house/flat on his name & want to purchase another house at affordable interest rates & even this scheme offers interest concession for women.

SBI Earliest Money Deposit: - Take a step forward of owing a dream house by earliest money deposit scheme to safeguard your booking residential home/plot offered by Government housing agencies like urban development authorities.

    

SBI Bank home loan interest rate & Processing fees

Interest Rates

 

6.70% Onwards

Processing Fees 0.35% - 1% 
Maximum Tenure Up to 30 Years
Prepayment/Foreclosure Charges Nil

 

List of Scheme offered by SBI Bank Home Loan 

Salaried Individuals 

(Interest Rates)

Self–Employed Individuals 

(Interest Rates) 

SBI Regular Home Loan  6.80% - 7.35% 

7.10% - 7.50% 

SBI Privilege Home Loan 6.95% -7.40% 7.20% - 7.65%
SBI NRI Home Loan 6.95% - 7.20% 7.10% -7.30%
SBI Flexipay Home Loan 7.40% - 8.00%  8.00% - 8.20% 
SBI Pre-approved Home Loan 6.95% - 7.30% 7.00% - 7.40%
SBI Realty Home Loan 7.65%- 8.00% 8.00%- 8.40%
SBI Bridge Home Loan 9.60% -10.50% 10.00% -10.90%
SBI Smart Home Loan Top-Up 8.05% - 8.40% 8.50% - 9.60%
SBI YONO Insta Home Loan Top-up 8.20% - 8.50% 8.60% - 9.00%
SBI Bank Home Loan Balance Transfer 6.70% - 7.10% 7.00% - 7.50% 
SBI Corporate Home Loan 6.90% - 8.00% 8.20%- 9.70%
SBI Home Loan to Non-Salaried Differential offering 7.15% - 7.85% 7.50%- 8.10%
SBI Bank Tribal Plus 6.75% -7.30% 7.00% - 8.00%
SBI Reverse Mortgage Loan 6.90% - 8.10% 7.20% - 9.70%
SBI (Commercial Real Estate Home Loan) CRE 7.85% - 8.20% 8.10% - 9.40% 
SBI Earliest Money Deposit 4.40% - 5.00%  -

 

Type of Other Charges by SBI Bank Home Loan

Loan processing charges:- Loan processing fee also known as administrative fee which is a non-refundable fee required at the time of login whether your loan is already approved you need to pay it will range Rs 2,500 to 6,500.  

Conversion Charges:- If you want to switch your floating to fixed interest or fixed to floating interest. This may charge you 0.25% - 3.00% balance amount. 

Collection Charges: - This charge will be levied if you fail to pay your EMI, therefore bank will impose a charge on your default payment as this depends on actual expense of process. 

NDC Charges: - This fee will be required to pay when you ask for a no due certificate. This may range from 0 –500. 

Stamping Charges:- For any legal documentation work required by bank, you will be charged for stamping. 

Interest Certificate Charges:- When you ask a certificate for amount of interest you pay in your repayment. This issue charges will range from 0 – 500. 

Repayment Swap charges:- For swapping your repayment mode, you will be required to pay Rs.500 for each request. 

 

SBI Bank Home Loan Eligibility

SBI Bank offers a wide range of home loan scheme to their home loan buyer with attractive interest rates. You just need to ensure that you meet eligibility criteria. Therefore, calculate home loan eligibility criteria EMI calculator to know whether you meet or not to enjoy the exclusive benefits as below given: - 

Age 18– 70 years
Employment Type Salaried and Self-employed professional and non-professional
Minimum Salary for Salaried Rs.25,000 per month
Minimum Salary for Non-Salaried Rs.4 lakh per annum

 

SBI Bank Home Loan Eligibility Criteria for Salaried:- 

  • Applicant must be resident of India 
  • Applicant age should be in-between 18 to 70 years 

SBI Bank Home Loan Eligibility Criteria for Professional:- 

  • Applicant age should be in-between 21 – 60 years 
  • Doctor, CA, Architect, Lawyers, Consultant, Engineer & CS can apply for Home Loan on Professional category.  

SBI Bank Home Loan Eligibility Criteria for Self-Employed:- 

  • Any individual filling income tax returns are eligible 
  • Maintain good financial records 
  • Minimum 2 years of existing business 

 

SBI Bank Home Loan Documents Required

Salaried & Self-employed are required to provide any one of the following for identity proof: -

  • Aadhaar Card 
  • Driving License 
  • Passport 
  • Election/ Voter ID Card 
  • PAN Card 

Salaried & Self-employed are required to provide any one of the following for residence proof: -

  • Passport
  • Aadhaar Card
  • Driving License
  • Election/ Voter’s ID Card
  • Bank Account or Post Office Savings Bank Account statement

Salaried & Self-employed are required to provide any one of the following for Age proof: -

  • Aadhar Card
  • Valid Passport
  • Voter ID
  • Birth Certificate

Salaried & Self-employed are required to provide any one of the following for Income proof: -

  • Latest 6 months bank statement
  • Income tax returns or form 16

Salaried & Self-employed are required to provide below mentioned mandatory documents: -

  • Proper filled loan application with 2 colored passport size photographs 
  • Processing cheque fee in favour of the bank

How to apply for SBI Bank Home Loan Online?

Step 1 - You can apply for SBI Bank home loan through visiting their website SBI Bank.in or visit the nearest SBI Bank branch.

Step 2 - Before that check your eligibility criteria meet well or not from your end to avoid loan rejection. If SBI you may download home loan application form by online or collect it from nearest branch bank.

Step 3- Fill the required details of your personal & occupational & attach KYC & mandatory documents. Note: - Check twice before submitting the loan application. 

Step 4 – Once your loan application approved then, you will need to provide property documents upon which you are taking the loan for further legal review & evaluation of property.

Step 5 – After evaluation done on property, shortly your loan approval take place where your loan sanctioned then, loan amount will be credited to your respective account.

 

SBI Bank Home Loan FAQ

Which home loan is better SBI or Bank of Baroda?

SBI Bank home loan is far better than Bank of Baroda as SBI bank home loan interest rate starts from 6.70% while, BOB interest rate are 6.75% to 8.35%. SBI Bank age eligibility starts from 18 years while BOB age eligibility starts from 21 years. State bank of India provides women concession on interest while BOB don’t provide concession.

How to apply for home loan in SBI Bank?

Its seamless digital process, visit their official site sbi.co.in (www. Sbi home loan), on left side corner sbi loans section is available from which down drop the list, click on home loan & click on Get a call back by filling up necessary documents like name, city, preferred languages, mobile no & email ID then do a final submission. Shortly SBI Bank customer support will contact you to explain product features & its work.  

How to apply home loan in SBI Bank?

You can visit your nearest SBI Bank branch & request a home loan application form where you can fill your correct value like personal & occupational details with attaching necessary documents & submit it to SBI Bank. Once they go through your application will contact you for further discussion.

How to check home loan eligibility in SBI Bank?

Visit www.sbi home loan – eligibility – Apply Now & get the required filed with correct details which include property details, applicant details, income details & preferred location. After the completion click on Get Quote thereafter you will able know whether you are eligible or not. 

How can I use SBI Bank Home Loan Calculator?

There is nothing easier than using a sbi bank home loan calculator, visit state bank of India official website & search for the home loan calculator wherein calculator is available to calculate your monthly EMI to make a well-planned financial strategy & to know the affordability.

How to transfer home loan from HDFC Bank to SBI?

You just need to fill required details which include your name, address, type of property, tenure of existing home loan, name of the bank & other details. Then you will be required to upload all the necessary documents which were asked & pay the processing fee. Hence, after the completion of sbi bank home loan balance transfer application you will need to wait for their approval.

How to get home loan from SBI Bank?

To get SBI Bank home loan, either you can visit your nearest sbi bank branch or visit their official site & place a request to get a call back, quickly one of their representatives will contact you. 

Is there 100% off on the processing fee of a home loan in SBI banks?

Yes, SBI Bank has officially announced 100% waiver of processing fee on home loan special offers but only for approved projects.

Why do people prefer SBI home loans over other banks?

SBI Bank home loan is most preferred by home buyer in country as it’s a well-known for its work & practicing all possible ways, introducing more special scheme which consists easy affordable Interest rates, zero processing fee, concession on interest for women borrower, flexible tenure like much more offering, therefore, people always prefer to avail sbi home loan as compared to other banks. 

What is the interest rate if I take a loan against a home in SBI Bank?

If you are planning to avail loan against property from SBI bank, then interest rate starts from 8.80% to 9.45% & this rate consider to be one of the best rates in market. You can avail & get additional benefits. 
 
 

SBI Bank Home Loan Customer Care

You can contact them via Call

Toll-free number: 1800 11 2211
Toll-free number: 1800 425 3800
Toll number: 080-26599990

                            OR

You can contact them via Mail 

E-mail at:

customercare@sbi.co.in
contactcentre@sbi.co.in 

                          Either

Unhappy with services: SMS UNHAPPY to 8008 20 20 20 
Missed call Banking @ SBI QUICK

 

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