SBI Home Loan

Posted in: Bank Loan | on: January 19, 2021

What are the features and benefits of SBI Home Loan?

SBI home loan comes with the following features and benefits.

Interest calculation on daily basis
Low processing charge
Low interest rate
Variety of products available
No hidden cost or administrative charges
No prepayment penalties
Overdraft facility available
Up to Rs.2.67 lakhs interest subsidy under PMAY-CLSS
Home loans are linked to Repo Linked Lending Rate.

What are the eligibility and interest rate for SBI Home Loan?

SBI offers bouquet of exclusive products designed for each customer segment. The eligibility, interest rate and processing fees for each home loan product is given below.

Schemes	Resident Type	Minimum Age	Maximum Age	Loan Amount	Loan Tenure	Interest Rate	Processing Fee
SBI Regular Home Loan	Resident Indian	18 years	70 years	-	Up to 30 years	7% onwards	0.35% of the loan amount (Min Rs.2000 Max Rs. 10,000) + GST
SBI NRI Home Loan	Non-Resident Indians (NRIs) or Persons of Indian Origin (PIOs)	18 years	60 years	-	Up to 30 years	Salaried Male: 7% onwards Salaried Female: 6.95% onwards Non-Salaried Male: 7.15% onwards Non-Salaried Female: 7.10% onwards	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Flexipay Home Loan	Resident Indian	21 years	45 years to apply for loan and up to 70 years for repayment	-	Up to 30 years	Based on the customer's credit score.	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Privilege Home Loan	Resident Indian	18 years	75 years	-	Up to 30 years	With check off- 6.95% p.a onwards Without check off- 7% p.a onwards	No Processing Fee
SBI Shaurya Home Loan	Resident Indian	18 years	75 years	-	Up to 30 years	Additional 10 bps added to the final rate	No Processing Fee
SBI Pre-Approved Home Loan	Resident Indian	18 years	70 years	-	Up to 30 years	Salaried Male: 7% onwards Salaried Female: 6.95% onwards Non-Salaried Male: 7.15% onwards Non-Salaried Female: 7.10% onwards	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Realty Home Loan	Resident Indian	18 years	65 years	-	Up to 10 years	7.70% - 7.90%	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Home Top Up Loan	Resident Indian & NRI	18 years	70 years	-	Up to 30 years	6.65% (EBR) + 85 bps to 290 bps	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Bridge Home Loan	Resident Indian	18 years	70 years	Rs.20 lakhs to Rs.2 crores	Up to 2 years	For First Year: 9.50% For Second Year: 10.50%	0.35% of the loan amount (Max Rs.5000)
SBI Smart Home Top Up Loan	Resident Indian & NRI	18 years	70 years	Up to Rs.5 lakhs	Up to 20 years	Term loan - Salaried: 8.05% Non-Salaried: 8.55% Overdraft - Salaried: 8.55% Non-Salaried: 9.05%	Rs.2000 + GST
SBI YONO Insta Home Top-Up Loan	-	-	-	-	-	8.20%	Rs.2000 + GST
SBI Corporate Home Loan	-	-	-	-	-	SB-1 & SB-2: 9.20% SB-3 to SB-5: 9.70% SB-6 to SB-8: 10.20% SB-9 and SB-10: 10.95%	0.50% of the loan amount (Min Rs.50,000 & Max Rs. 10,00,000) + GST
SBI Home Loan to Non-Salaried	Resident Indian	18 years	-	Rs.50,000 to Rs.50 crores	Up to 30 years	Male: 7.15 onwards Female: 7.10% onwards	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Tribal Plus	Resident Indian	21 years	60 years	Up to Rs.10 lakhs	Up to 15 years	10 bps above final rate	0.35% of the loan amount (Min Rs.2000 & Max Rs. 10,000) + GST
SBI Earnest Money Deposit	Resident Indian	18 years	-	Rs.15 lakhs for CSD/DSP account holders and Rs. 10 lakh for others	Repayment should be made in lump sum in case of successful allotment.	10.45%	0.50% of the loan amount (Min Rs.1000) + GST
SBI Reverse Mortgage Loan	Resident Indian	Single Borrower: 60 years Joint Borrower: 58 years	-	Rs.3 lakhs to Rs.1 crore	10 to 15 years, depending upon the age of the borrowers	For Public: 9.05% For SBI Pensioners: 8.05%	0.50% of the loan amount (Min Rs.2000 & Max Rs. 20,000) + GST
SBI Commercial Real Estate Loan	Resident Indian	18 years	70 years	-	Up to 30 years	50 bps above Home Loan interest rate	0.35% of the loan amount (Min Rs.5000) + GST
SBI Loan Against Property	Resident Indian	18 years	70 years	-	Up to 15 years	Salaried Individual: 8.90% - 9.40% Business/Profession/Rental income of over 50% of Net Monthly Income: 8.80% - 9.65%	1% of the loan amount (Max Rs.50,000) + GST

How to calculate SBI Home Loan EMI?

You can calculate EMI for home loan taken in SBI using SBI Home Loan EMI Calculator.
With home loan calculator, you can calculate the EMI, monthly interest and monthly reducing balance on the basis of principal loan amount, loan tenure and interest rate.
Just click here and select the loan amount, loan tenure and interest rate to get EMI amount for SBI home loan.

How to calculate SBI Home Loan EMI

What are the documents required to apply for SBI Home Loan?

Applicant documents:

Identity card of the Employer
Duly filled loan application form affixed with 3 passport size photographs
Proof of Identity: Passport/PAN/Voter ID/Driving Licence
Proof of Address: Aadhaar card/Driving Licence/Passport/Utility bills

Property statement:

Permission for construction
Allotment letter/ Stamped Sale Agreement/ Registered Sale Agreement (Only for Maharashtra)
Certificate of occupancy
Property tax receipt, Maintenance bills, Electricity bill, Share certificate (Only for Maharashtra)
Approved copy of Plan and Builder's Registered Development Agreement, Conveyance Deed (For new property)
Payment receipts or bank account statement showing all payments made to Builder/Seller.

Account Statement:

Applicant's last 6 months bank account statements for all bank accounts.
Loan account statement for last 1 year and previous loan from bank/lender if any.

Income Proof for Salaried:

Salary slip/Salary certificate of last 3 months
Copy of Form 16 for last 2 years/Copy of ITR for last 2 financial years.

Income Proof for Non-Salaried:

Proof of business address
ITR for last 3 years
Balance sheet and Profit & Loss Account for last 3 years
TDS certificate
Business Licence Details
Qualification certificate (For CA/Doctor and other professionals)

SBI Home Loan Customer Care:

You can contact the SBI Home Loan customer care in any of the following ways.

Call SBI Toll-Free Number	1800 112 211 1800 425 3800 080 2699990
Write to SBI	Real Estate and Housing Business Unit State Bank of India, Corporate center, Madame Cama Road, State Bank Bhavan, Nariman Point, Mumbai - 400021, Maharashtra
Email to SBI	homeloan.complaints@sbi.co.in
Register SBI complaints in online	SBI customer complaint

SBI Home Loan - Important Links:

To locate SBI home loan branch, click here
To apply for SBI home loan, click here
To track the status of SBI home loan application, click here
To track SBI home loan disbursement status, click here