SBI Home Loan | SBI Home Loan Interest Rate | Complete Details - BankBazaar
Thank you for the feedback.
Make a suggestion or report a bug

SBI Home Loan

State Bank of India (SBI) is the third largest home loan lender in India after HDFC Ltd and ICICI Bank. SBI quotes home loan interest rates in terms of daily reducing balance. The interest rate charged on an State Bank home loan varies according to the loan amount, and the processing fees also vary according to the amount of the home loan. SBI does not offer doorstep service, hence an SBI home loan borrower must visit an SBI branch in order to complete his paperwork and also to follow-up on the status of his application.

Main SBI Home Loan Schemes

  1. SBI Realty : Purchase of plot of land
  2. SBI Optima : Loan to existing home loan borrowers
  3. SBI Green Home Loan : For homes that fight against the adverse climate change, SBI offers 0.25% concession in interest rate and waiver of processing fees
  4. SBI Flexi : Combination of floating and fixed interest rate, in a pre determined ratio
  5. NRI Home Loans : Loans for NRIs and PIOs
  6. SBI Freedom : Pledging other financial security than mortgaging the house
  7. SBI Max Gain : Operate your home loan account like your SB or Current Account
Details of SBI Home Loan. Use our calculator to compare offers from multiple banks
Interest Rate
(Daily reducing balance)		 Year 1 - 8% fixed
Year 2 & 3 - 9% fixed
Year 4 onwards - For loans up to 50 lakhs, 9.25% floating. For loan amount over 50 lakhs, 9.75% floating
Base Rate is currently 7.5%
Processing Fees Varies by loan amount from Rs.1,000 to Rs. 20,000
Prepayment charges Nil
Other Fees Advocate's fee for property search & title investigation report. Fee for valuation report
Loan Tenure 5 years - 20 years
Guarantor requirement Guarantor is required in same city
Documents
  • Identity proof of applicant & guarantor (Voter card/Driving license/Indian Passport and a photo)
  • Residence Proof of applicant & guarantor (Ration card/latest electricity or phone or credit card bill)
  • Last 6 months bank statements
  • Processing fee cheque
  • Only for Salaried - Form 16 and Latest Salary of applicant and guarantor
  • Only for Self Employed - Last 3 years Profit /Loss Balance Sheet, IT returns and educational qualification certificates

Get lowest home loan interest rate in 2 minutes from SBI   


Recently made loan offers
Rs.36.90 lakhs for Rs.31,441 EMI
8.25%  Rate 240 Tenure

Total Interest PayableRs. 4,389,657

Total Tax + FeesRs. 11,030

Total Interest + FeesRs. 4,400,687

Submitted 9 minutes ago
Rs.33.70 lakhs for Rs.28,715 EMI
8.25%  Rate 240 Tenure

Total Interest PayableRs. 4,008,982

Total Tax + FeesRs. 11,030

Total Interest + FeesRs. 4,020,012

Submitted 10 minutes ago
Rs.30.10 lakhs for Rs.25,647 EMI
8.25%  Rate 240 Tenure

Total Interest PayableRs. 3,580,723

Total Tax + FeesRs. 11,030

Total Interest + FeesRs. 3,591,753

Submitted 25 minutes ago
 
Some fields are incorrect or have not been filled in. Please correct this to proceed.
Include only the following components of cost: Basic Selling Price, car parking (covered/open), electricity/water charges, Internal Development Charges (IDC), External Development Charges (EDC), Preferential Location Charges (PLC), Stamp duty and registration charges.
As per the Agreement to Sale or as per the Registered Sale Deed value, whichever is higher.
Cost of construction as per engineering estimate.
Current outstanding balance on the home loan you wish to transfer.
 / 
 / 
Choose 'Salaried professional' if you are salaried and are qualified as a doctor, dentist, lawyer, architect, engineer or chartered accountant
Slowly start typing your employer's name and choose from the recommendations provided. If you do not see your employer on our list, simply type the name in this field.
This is your gross monthly salary as per your monthly payslip prior to deductions.
This is your net monthly salary as credited to your bank account after all deductions.
This is the approximate sum of all monthly incentives, if any, earned by you.
This is the annual bonus, if any, earned by you.
This is the sum of all monthly payments that you are making on all your currently open loans.Please ignore those loans where loan term outstanding is less than 12 months.
 / 
 / 
Choose 'Salaried professional' if you are salaried and are qualified as a doctor, dentist, lawyer, architect, engineer or chartered accountant
Slowly start typing your employer's name and choose from the recommendations provided. If you do not see your employer on our list, simply type the name in this field.
This is your gross monthly salary as per your monthly payslip prior to deductions.
This is your net monthly salary as credited to your bank account after all deductions.
This is the approximate sum of all monthly incentives, if any, earned by you.
This is the annual bonus, if any, earned by you.
This is the sum of all monthly payments that you are making on all your currently open loans.Please ignore those loans where loan term outstanding is less than 12 months.
The information I have provided is accurate. I understand that final credit approval is at the sole discretion of the financial institution.


©2010 Microsoft