SBI HOME LOAN

SBI Home Loans offers mortgage services in India and has assisted millions of families in fulfilling their sweet dream of homeownership, with attractive home loan interest rates that make owning a home more affordable.

Our Values

VALUE TO CUSTOMER

Wide Product Range: Various home loan schemes tailored to meet diverse customer needs.
Interest Calculation on Daily Reducing Balance: Save more with interest calculated on the outstanding loan balance daily.
Overdraft Facility Available: Enjoy flexibility with an overdraft facility to manage finances effectively.
Low Interest Rates: Competitive rates starting as low as 8.50% p.a. – 9.65% p.a. ensure affordability.
Low Processing Fees: Minimal charges starting at just 0.35% of the loan amount.
No Hidden Costs: Transparent terms with absolutely no hidden charges.
No Prepayment Penalty: Repay your loan early without any additional charges.

SBI Home Loan Details
Interest Rate	8.50% p.a. – 9.65% p.a.
loan Amount	Based on eligibility
Processing Fees	0.35% onwards
Prepayment/Foreclosure Charges	Nil
Max Tenure:	30 Years
Rate Packages Available	Floating

SBI HOME LOAN FEATURES

Part-payment allowed from ₹1
Part payment allowed from 1st day of loan Disbursement
Zero Foreclosure Charges
Zero Prepayment Charges
Daily reducing Rate
Funding up to 90% of the agreement value
Up to a maximum of 30 years or until the age of 70 years
No hidden charges
Online Repayment

BENEFITS OF SBI – HOMELOAN

Exclusive benefit packages.
Competitive low interest rates, calculated on a daily reducing balance.
Home loan available as an overdraft, allowing optimal utilization of surplus funds.
Minimal processing charges and no hidden costs.
No penalties for prepayment, offering the option to reduce interest burdens through early loan repayment.

PURPOSE FOR WHICH HOME LOAN CAN BE AVAILED

The loan will be sanctioned for Purchase/ Construction/ Extension/ Repairs/ Renovation of a new/ used Residential House/ Flat/ Plot of land and furnishings and interiors (hereinafter referred to as the ‘project’).

Loan to Value Ratio (LTV)

Home Loan Amount	Loan to Value (LTV)
Up-to Rs. 30 lacs	90%
Rs. 30 lacs to Rs. 75 lacs	80%
Above Rs. 75 lacs	75%

RATE OF INTEREST

The loan interest is based on a fixed spread over the EBLR (linked to the RBI Repo Rate) and calculated using the daily reducing balance method with monthly rests / reset. It covers project costs excluding land value, stamp duty, and registration charges.

INTIMATION OF CHANGE IN EBLR INTEREST RATE

Borrowers are deemed notified of interest rate changes through updates on branch notice boards, newspapers, the Bank/RBI website, account statements, or passbooks. Notifications are also sent via email and SMS to registered contact details.

REPAYMENT

The loan is repaid in EMIs starting from the date specified in the sanction letter. The liability ends once the loan balance is fully repaid, including any residual amount. Dynamic SI/NACH allows a maximum debit of 120% of the EMI to account for interest rate hikes, but actual monthly debits match the EMI amount.

LOAN TENURE

This shall be a facility available over the age of 30 years, or to the maximum of 70 years of age (this being the age at which the loan should be repaid in full) for the borrower’s age, whichever comes first.

PRE-CLOSURE CHARGES

No pre-payment or pre-closure penalties will be charged on floating interest Home Loans, regardless of the loan duration or the source of funds.

INSURANCE

The property purchased or constructed with the Bank’s financing must be insured against risks such as fire, riots, earthquakes, lightning, and floods. The insurance should list both the borrower and the Bank as joint names. The insurance should cover the actual project cost, excluding the cost of land (including undivided share of land in the case of flats), stamp duty, and registration charges. The borrower is responsible for the cost of the insurance.

FEES AND CHARGES

Charged at the time of documentation. The fee is 0.35% of the loan amount plus applicable GST, with a minimum of Rs. 2,000 plus applicable GST, and a maximum of Rs. 10,000 plus GST.

CUSTOMER SERVICE

For any service-related issues, customers can contact SBI through the help line numbers and grievance cell details available on www.sbi.co.in.

OUR PRODUCTS

GENERAL HOME LOAN FOR PURCHASE / CONSTRUCTION / TAKE OVER

SBI Home Loans are founded on a tradition of trust and transparency, offering a range of options tailored to your needs. Whether you’re buying a ready-to-move-in property, constructing a new home, purchasing a plot, or renovating an existing one, SBI has a solution for you.

Features

A variety of home loan products designed for each customer’s unique needs.
Competitive interest rates.
Low processing fees.
Transparent pricing with no hidden fees.
No penalty for prepayment.
Interest calculated on a daily reducing balance.
Flexible repayment terms up to 30 years.
Option to link your home loan to an overdraft facility.
Special interest rate concessions for women borrowers.

Eligibility

Applicable to: Resident Indians.
Age range: 18 to 70 years.
Maximum loan tenure: 30 years.

Interest Rates & Fees

Starting interest rate: 8.50% and above.
Processing fee: Up to 50% discount on standard rates, with full waivers in select scenarios. T&C Apply

SBI MAX GAIN

SBI MaxGain is a special home loan offered by the State Bank of India (SBI) that combines the features of a home loan and an overdraft account. This product helps borrowers save on interest by allowing the principal amount to decrease dynamically. Here’s how it works:

Features of SBI Max Gain

Overdraft Facility: The loan works like a savings or current account with overdraft options, allowing you to park extra funds temporarily.
Interest Savings: Interest is calculated daily based on the reduced balance, so the more you park funds in your account, the lower the interest charged.
Liquidity: You can withdraw the parked surplus funds anytime, giving you flexibility for emergencies or other needs.
SBI Home Loan Linkage: This product is connected to your home loan, making it available for home loan customers.
Online Access: You can manage your Max Gain account online, just like any regular bank account.

How SBI Max Gain Works

Loan Sanction and Account Setup: Upon sanctioning of a home loan, SBI sets up an overdraft (OD) account with the loan amount serving as the limit for overdraft.

Deposit Surplus Funds: Borrowers have the option to deposit any additional funds, such as savings, bonuses, or unexpected financial gains, into this account. These funds effectively reduce the principal amount on which interest is computed.

Example

Loan Amount: ₹50,00,000
Current Balance in MaxGain: ₹10,00,000
Effective Outstanding Principal: ₹50,00,000 – ₹10,00,000 = ₹40,00,000
Interest Charged On: ₹40,00,000

Flexibility of Withdrawal: Borrowers can access their surplus funds at any time, which offers flexibility and liquidity. Withdrawing funds will increase the outstanding principal upon which interest is calculated.

Interest Savings: Depositing surplus funds helps borrowers save on interest costs. This feature is particularly beneficial for those with variable income streams, such as business owners or salaried employees receiving periodic bonuses.

Advantages of SBI MaxGain

Maximized Savings: Each rupee deposited in the MaxGain account lowers the interest due, potentially leading to substantial savings throughout the duration of the loan.
Liquidity and Emergency Fund: Funds in the MaxGain account remain accessible, providing the twin advantages of reducing interest costs while maintaining liquidity, unlike traditional prepayments.
Tax Benefits: The interest paid on the home loan qualifies for tax deductions under Sections 24(b) and 80C of the Income Tax Act, enhancing the financial benefits of this product.

SBI MaxGain integrates the benefits of a traditional home loan with the versatility of an overdraft facility, enabling borrowers to manage their finances more efficiently and reduce interest expenses dynamically.

Considerations

Higher Interest Rate: MaxGain loans may have slightly higher interest rates compared to regular home loans.
Discipline Needed: To get the most out of this loan, borrowers need to regularly park extra funds in the account.
Limited Availability: This option may not be ideal for everyone, especially those who don’t have extra funds to deposit frequently.

Is SBI MaxGain suitable for you?
It’s a great option for borrowers with fluctuating cash flows or those who want to keep funds accessible while reducing loan interest. If you can park surplus money regularly, it can help save money in the long run.

NRI HOME LOANS

SBI NRI Home Loans allow Non-Resident Indians to get closer to home SBI NRI Home Loans help Non-Resident Indians invest in property while enjoying the benefits of home loans. It makes sense to take a loan instead of using personal savings, especially when those savings can generate better returns elsewhere.

Features

Low interest rates
Low processing fees
No hidden charges
No prepayment penalty
Interest calculated on a daily reducing balance
Repayment up to 30 years
Home loans available as an overdraft
Interest concession for women borrowers

Eligibility Criteria

Applicant Type: Available to Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs).
Minimum Loan Amount: Rs. 15 lakh.
Age Requirement: 18 to 70 years.
Loan Tenure: Up to 30 years.

Interest Rates & Fees

Interest Rate: Home Loan interest rates start from 8.50% onwards.
Processing Fee: Enjoy a 50% discount on the standard rate, with a complete waiver possible in specific cases.

Terms and conditions apply.

Additional Fees Post-sanction

Stamp Duty: Applicable for the loan agreement.
Property Insurance Premium: Mandatory for loan approval.

CERSAI Registration Fee: Rs 50 + GST for loans up to Rs 5 lakh; Rs 100 + GST for loans exceeding Rs 5 lakh.

SBI FLEXIPAY HOME LOAN

Higher Loan Eligibility with Step-Up EMI Option.

“Don’t let your current income hold you back from owning your dream home.”

SBI Flexipay Home Loan offers higher loan eligibility for salaried borrowers. It allows customers to pay only the interest during the initial moratorium (pre-EMI) period, followed by moderate EMIs. In the later years, the EMI amounts gradually increased. This loan option is particularly beneficial for young professionals and helps them buy their dream home with more flexible payment options.

Features

Affordable interest rates
Low processing fees
No hidden charges
No penalty for early repayment
20% higher loan eligibility
Interest calculated on a daily reducing balance
Flexible repayment period (up to 30 years)
Special interest concessions for women borrowers

Eligibility Criteria

Resident Type: Resident Indian
Age Limits: Minimum age to apply is 21 years; applicants can apply up to 45 years with repayment extending up to 70 years.
Loan Tenure: Available for up to 30 years.

Interest Rate & Fees

Interest Rate: Home loan interest rates begin at 8.50% onwards.
Processing Fee: Receive a 50% discount on the standard rate, with potential waivers in certain situations.

Terms and conditions apply.

SBI PRIVILEGE HOME LOAN: EXCLUSIVELY FOR CENTRAL &AMP; STATE GOVERNMENT EMPLOYEES, PSBS, AND PSUS

SBI Privilege Home Loan for Government Employees SBI offers the SBI Privilege Home Loan, specially designed for government employees. This loan is available for individuals working in the Central or State Government, Public Sector Banks (PSBs), Central Government PSUs, and those with pensionable service. The loan amount is determined based on factors like income, repayment capacity, age, assets, liabilities, and the cost of the proposed house or flat.

Features

Low Interest Rates
Zero Processing Fee
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance
Repayment Tenure up to 30 Years
Special Interest Concession for Women Borrowers
Additional Interest Concession if Check-Off Facility is Provided

Eligibility Criteria

Resident Type: Resident Indian
Age Range: 18 to 75 years
Loan Tenure: Up to 30 years.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.

Processing Fee: 50% concession in card rate. 100% waiver in selected cases. T&C Apply.

Fees

Processing Fee

Full Waiver: No processing fee is charged.
Out-of-Pocket Expenses: Borrowers are required to bear expenses such as:
- Advocate’s fee for legal opinion.
- Valuer’s fee for the valuation report.
- CERSAI and CIBIL charges.

Pre-Sanction Expenses

Advocate’s fee for conducting property search and preparing a title investigation report.
Valuer’s fee for the valuation report.

Post-Sanction Expenses

Stamp Duty: Payable for the loan agreement.
Property Insurance Premium: Applicable as required.
CERSAI Registration Fee:
- ₹50 + GST for loan limits up to ₹5 Lakh.
- ₹100 + GST for loan limits above ₹5 Lakh.

SHAURYA HOME LOAN -FOR DEFENCE/NAVY/AIRFORCE PERSONNEL

SBI Shaurya Home Loan: Specially Designed for Army and Defence Personnel

At SBI, we honour your service to the nation by offering the SBI Shaurya Home Loan, exclusively designed for Army and Defence personnel. This special loan provides lower interest rates and added benefits tailored to meet the unique needs of defence employees.

Defence personnel can enjoy easy repayment options and a longer repayment period, making homeownership more accessible and stress-free.

Features

Low Interest Rates
Zero Processing Fee
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance
Repayment Tenure up to 30 Years
Special Interest Concession for Women Borrowers
Additional Interest Concession if Check-Off Facility is Provided

Eligibility

Residency: Resident Indian
Age Limit: 18 to 75 years
Maximum Loan Duration: 30 years.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.

Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

Fees

Processing Fee

Full Waiver: No processing fee is charged.
Out-of-Pocket Expenses: Borrowers will bear costs for:
- Advocate’s fee for legal opinion.
- Valuer’s fee for the valuation report.
- CERSAI and CIBIL charges.

Pre-Sanction Expenses

Fee payable to the advocate for property search and title verification report.
Valuer’s fee for the valuation report.

Post-Sanction Expenses

Stamp duty for the loan agreement.
Property insurance premium.
CERSAI Registration Fee:
- ₹50 + GST for loan limits up to ₹5 Lakh.
- ₹100 + GST for loan limits above ₹5 Lakh.

SBI PRE-APPROVED HOME LOAN (PAL)

Secure your home loan before finalizing your property.

Plan with the SBI Pre-Approved Loan (PAL) and secure your home loan before finalizing your property. This loan provides a pre-sanctioned limit, allowing you to confidently negotiate with builders or sellers. Loan eligibility is determined by your income, and a non-refundable processing fee is applied at the time of sanction.

Features

Low Interest Rates
Low Processing Fee
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance
Repayment Tenure up to 30 Years
Home Loan Available as Overdraft
Special Interest Concession for Women Borrowers

Eligibility

Residency: Resident Indian
Age Limit: 18 to 75 years
Maximum Loan Duration: 30 years.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.
Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

SBI REALTY-FOR PLOT PURCHASE

Create your dream home from the ground up and bring it to life.

Build your dream home from the ground up with SBI Realty. This loan allows you to purchase a plot for constructing a house, with a requirement to complete the construction within 3 years of loan sanction or disbursement. You can also apply for an additional home loan to finance the construction on the same plot.

With loan amounts up to Rs. 15 crores and a repayment period of up to 10 years, SBI Realty offers a convenient solution for your housing needs.

Features

Low Interest Rates
Low Processing Fee
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance
Repayment Tenure up to 10 Years
Special Interest Concession for Women Borrowers

Eligibility

Residency: Resident Indian
Age Limit: 18 to 65 years
Maximum Loan Duration: upto 10 years.

Interest Rates & Fees-

Interest Rate: Home Loan interest rate starts at 8.50% onwards.
Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

HOME LOAN TO NON-SALARIED (DIFFERENTIAL OFFERINGS)

SBI Home Loans for Non-Salaried Individuals

SBI offers Home Loans specially designed for non-salaried individuals, providing the best value for your needs. These loans can be used for constructing or purchasing a house/flat, taking over home loans from other banks or HFCs, or renovating an existing property.

Features

Customized Home Loan Products to meet every customer’s needs
Low Interest Rates
Low Processing Fee
No Hidden Charges
Interest Charged on Daily Reducing Balance
Repayment Tenure up to 30 Years

Eligibility Criteria

Resident Type: Resident Indian
Business Requirements: Applicants who are sole proprietors, partners in a partnership, or directors in a company must adhere to the following:
- The business should have been operational for at least the past three years.
- The business must have reported a net profit for the last two consecutive years.
- Any existing credit facilities must be regular and in good standing, as confirmed through an opinion report from current bankers.
- If the house property is jointly owned by the proprietor and the proprietary firm, the firm should either be an existing borrower or a debt-free entity.
Minimum Age: 18 years
Loan Tenure: Up to 30 years
Loan Amount: Minimum Rs. 50,000 to Maximum Rs. 50 crores.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.

Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

SBI TRIBAL PLUS: HOME LOANS FOR HILLY/TRIBAL AREAS

A Home Loan specially tailored for residents of Hilly and Tribal areas.

The SBI Tribal Plus Home Loan is specially designed for individuals living in hilly or tribal areas. This loan can be used to purchase or build a new house/flat (without mortgaging land), buy an existing house/flat (not older than 10 years), or repair/renovate/extend an existing property. The scheme is available at all SBI branches in these areas.

Features

Exclusive for Residents of Hilly/Tribal Areas
No Mortgage of Land Required
Repayment Tenure up to 15 Years
Loans Available with Third-Party Guarantee
Special Interest Concession for Women Borrowers
Low Interest Rates
Low Processing Fee
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance

Eligibility Criteria

Resident Status: Resident Indian
Age Requirements: Minimum 21 years, Maximum 60 years
Loan Duration: Up to 15 years
Maximum Loan Amount: Rs. 20 lakhs for salaried borrowers, Rs. 15 lakhs for non-salaried borrowers.

Interest Rates & Fees-

Interest Rate: Home Loan interest rate starts at 8.50% onwards.
Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

SBI REVERSE MORTGAGE LOAN: PERSONAL LOAN FOR SENIOR CITIZENS

Enjoy a stress-free retirement with the SBI Reverse Mortgage Loan, designed to provide financial support for senior citizens. This loan provides an additional source of income if you own and reside in a self-acquired home in India. The bank makes regular payments to you (or your spouse) against the mortgage of your home, without requiring you to repay the loan during your lifetime.

Features

Low Interest Rates
Low Processing Fees
No Hidden Charges
No Prepayment Penalty

Eligibility Criteria

Resident Status: Resident Indian
Age Requirements: Minimum age 60 years for a single borrower. For joint borrowers, the spouse must be at least 58 years old.
Loan Tenure: Ranges from 10 to 15 years, depending on the age of the borrowers.
Maximum Loan Amount:
- Rs. 2.00 crore for properties located within Municipal Corporation Areas of NCR, Mumbai, Pune, Chennai, Ahmedabad, Bengaluru, and Hyderabad.
- Rs. 1.50 crore for properties in other centers, excluding the above-mentioned locations.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.
Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

Fees

Processing Fee

Rate: 0.50% of the loan amount
Minimum: ₹2,000
Maximum: ₹20,000
Plus applicable taxes

Post-Sanction Charges

- Stamp Duty: Applicable for the loan agreement.
- Property Insurance Premium: Payable as required.

CERSAI Registration Fee:

- ₹50 + GST for loan limits up to ₹5 Lakh
- ₹100 + GST for loan limits above ₹5 Lakh

CRE (COMMERCIAL REAL ESTATE) HOME LOAN

If your family owns more than two homes, the loan for the third home and beyond is treated as a CRE Home Loan. An individual can avail of up to five home loans, including CRE loans.

Features

Low Interest Rates
Low Processing Fees
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance
Home Loan Available as Overdraft

Eligibility Requirements

Residency: Resident Indian
Age Limit: 18 to 70 years
Maximum Loan Duration: 30 years.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.
Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

Fees

Processing Fee

- Rate: 0.35% of the loan amount
- Minimum: ₹2,000 + GST
- Maximum: ₹10,000 + GST

Plus applicable taxes

Pre-Sanction Charges

Advocate’s fee for property search and title investigation report.
Valuer’s fee for valuation report.

Post-Sanction Charges

Stamp duty is payable for the loan agreement.
Property insurance premium.
CERSAI Registration Fee:
- ₹50 + GST for loan limits up to ₹5 Lakh.
- ₹100 + GST for loan limits above ₹5 Lakh.

P-LAP (PERSONAL LOAN AGAINST PROPERTY)

Get a loan against your property to meet personal expenses like education, marriage, healthcare, and more (excluding speculative or business purposes).

Features

Low Interest Rates
Low Processing Fees
No Hidden Charges
No Prepayment Penalty
Interest Charged on Daily Reducing Balance

Eligibility Requirements

Residency: Resident Indian
Age Limit: 18 to 70 years
Maximum Loan Duration: 15 years.

Interest Rates & Fees

Interest Rate: Home Loan interest rate starts at 8.50% onwards.
Processing Fee: 50% concession in card rate. 100% waiver in selected cases.
T&C Apply.

Fees

Processing Fee

Rate: 1% of the loan amount
Maximum: ₹50,000 + GST
Plus applicable taxes

Pre-Sanction Charges

Fee payable to the advocate for conducting property search and preparing the title investigation report.
Valuer’s fee for the valuation report.

Post-Sanction Charges

Stamp duty is applicable for the loan agreement.
Property insurance premium.
CERSAI Registration Fee:
- ₹50 + GST for loan limits up to ₹5 Lakh.
- ₹100 + GST for loan limits above ₹5 Lakh.

OTHER SCHEMES AVAILABLE AT SBI

Home Loan Schemes by SBI

SBI provides a range of home loan schemes to cater to the varied needs of its customers. Some of the key schemes include SBI Maxgain, SBI Suraksha, and Credit Risk Guarantee Fund Trust for Low-Income Housing (CRFGTLIH).

SBI Maxgain

The SBI Maxgain scheme provides home loans in the form of an Overdraft facility. Customers pay EMIs like a regular home loan, but the Drawing Power of the Overdraft reduces monthly based on the principal paid. This ensures the Overdraft is fully repaid by the end of the loan tenure. The interest component of the EMI covers the interest on the Overdraft.

SBI Suraksha

The SBI Suraksha scheme offers life insurance linked to your home loan. The life insurance premium (RinN Raksha) is funded by SBI and repaid in EMIs over the loan tenure. This facility is available for both new home loan accounts and existing home loans if the customer opts for life cover now.

Frequently Asked Questions

When does the interest rate for SBI Home Loans change?

SBI home loan interest rates are revised on the first day of each calendar quarter, reflecting changes in the RBI Repo Rate.

Does SBI balance transfer loans include a prepayment penalty?

Yes, the prepayment penalty is included, but the total loan amount is subject to eligibility criteria under the relevant SBI home loan scheme.

What is the processing fee for SBI Home Loans?

SBI charges a processing fee of 0.40% of the loan amount, plus applicable GST. The minimum fee is ₹10,000 + GST, while the maximum is ₹30,000 + GST.

Does SBI offer pre-approved home loans?

Yes, SBI provides pre-approved home loans. For further details, contact your nearest SBI branch or visit their website.

Can the salary of the spouse be considered for an SBI Home Loan?

If the spouse is a co-owner of the property or acts as a guarantor, their salary can be included to determine the eligible loan amount.