SBI Home Loan offers interesting interest rates, flexible tenure, and a range of schemes for salaried and self-employed borrowers. As India’s largest bank, SBI offers attractive assistance in fulfilling the dream of home ownership. The various types of SBI home loans vary from regular housing loan options, housing loans for NRIs, etc., to even real estate assistance.
Read on to learn more about SBI housing loan products that are designed to meet diverse financial needs, backed by a trusted banking partner.
SBI home loans come with interest rates starting at 7.50%* p.a., made available for a wide range of customers who fall under different types of economic categories.
SBI Home Loan Highlights
SBI home loans are one of the most affordable and attractive options available.
SBI housing loans come with flexible terms, lower processing fees, and benefits like zero prepayment charges. These highlights simplify borrowing for homebuyers across income groups.
Major highlights include:
| 1. Interest Rates | 7.50%* p.a. Onwards (Floating) |
| 2. Loan Amount | ₹50,000 – ₹20,000,000 |
| 3. Repayment Tenure | 1 month – 30 years |
| 4. Maximum Age | 70 years |
5. Loan to Value (LTV):
LTV stands for Loan to Value ratio. This is the maximum percentage of the property’s market value that the bank will finance. The remaining percentage is your down payment. Here is a table with details on how SBI makes these calculations:
| Home Loan Amount | LTV Ratio |
|---|---|
| Up to ₹30 lakhs | 90% |
| Above ₹30 lakhs and up to ₹75 lakhs | 80% |
| Above ₹75 lakhs | 75% |
Apart from these, there are added features such as:
- Concession for women borrowers
- Pradhan Mantri Awas Yojana (PMAY) is eligible
- Integrated digital application process
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Compare SBI Home Loans with Other Home Loans
SBI housing loans stand out when compared with other banks and NBFCs, as SBI often come with competitive interest rates, lower fees, and wider reach across India.
Although the EBLR and MCLR are considered in the calculation of interest rates, these rates are not directly your interest rate. It is the base benchmark interest rate on which additional charges are levied by the bank. This additional charge varies as per the bank.
Final Interest Rate = EBLR + Spread + CRP
CRP is Credit Risk Premium. Sometimes, Business Strategy Premium (BSP) is used instead of CRP, according to certain banks.
Here is a table for the comparison of the SBI Home Loans and other home loan options and their EBLR rates.
| Financial Institutions Offering Home Loans | Interest rates |
|---|---|
| Public Sector Banks | |
| State Bank of India (SBI) | 7.50%* p.a. Onwards |
| Union Bank of India | 7.45%* p.a Onwards |
| Central Bank of India | 7.35%* p.a. Onwards |
| Bank of Maharashtra | 7.35%* p.a Onwards |
| Canara Bank | 7.45%* p.a Onwards |
| Indian Bank | 7.40* p.a Onwards |
| UCO Bank | 7.40%* p.a Onwards |
| Bank of Baroda | 7.35%* p.a Onwards |
| Punjab National Bank | 8.25%* p.a Onwards |
| HDFC Bank Home Loan | 7.90%* p.a. Onwards |
| ICICI Bank Home Loan | 7.65%* p.a. Onwards |
| Kotak Mahindra Bank Home Loan | 7.70%* p.a. Onwards |
| Axis Bank Home Loan | 8.35%* p.a. Onwards |
| HFS & NBFCs | |
| Bajaj Housing Finance | 7.45%* p.a. Onwards |
| Tata Capital Housing Finance | 7.75%* p.a. Onwards |
| PNB Housing Finance | 8.25%* p.a. Onwards |
| Aditya Birla Capital | 7.75%* p.a Onwards |
| LIC Housing Finance (Public NBFC) | 7.50%* p.a. Onwards |
Why SBI stands out:
- Transparent rates based on CIBIL
- Zero prepayment penalty
- Government subsidy support
- Extensive branch and support network
SBI Home Loan Eligibility
SBI home loans are available for a vast majority of the public. However, you have to complete certain eligibility criteria before. Your SBI home loan eligibility is determined by
- Income: Minimum ₹25,000 (may vary)
- Credit score: Preferably above 700
- Age: 18 to 70 years
- Employment type: Salaried, self-employed, pensioners
- Loan amount: A higher loan amount means the bank is taking on more risk. Lenders typically compensate for higher risk by charging a higher interest rate
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Types of SBI Home Loan and Interest Rates
SBI offers various housing loan products which can be best suited for different needs. The most popular loan types include:
| Loan Type | Interest rate |
|---|---|
| Home Loan (TL) | 7.50% to 8.70% |
| Home Loan Maxgain (OD) | 7.75% to 8.95% |
| Top Up Loan | 8.00% to 10.75% |
| Top Up (OD) Loan | 8.25% to 9.45% |
| Loan Against Property (P-LAP) | 9.20% to 10.75% |
SBI offers home loans specific to customer categories, which all fall under the general types mentioned above. The customer-specific loans and their details are as follows:
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- General Home Loan for Purchase/Construction/Takeover
It includes options for the purchase of ready-built property, the purchase of under-construction property, the purchase of pre-owned homes, the purchase of a plot, Plot + Construction of a House, the construction of a house, extension of a house and repair/renovation.
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- Home Loan Takeover – Balance Transfer
SBI offers home loan balance transfers from SCBs, private and foreign banks, NHB-registered HFCs, and eligible government or PSU employers.
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- SBI NRI Home Loans
SBI NRI Home Loan allows many NRIs (Non-Resident Indians) to get home loans when investing in properties.
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- Sbi Flexipay Home Loan
SBI Flexipay Home loan provides eligibility for a higher loan amount exclusively for the salaried borrowers.
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- Shaurya Home Loan: For Defence/Navy/Air Force personnel
SBI Shaurya Home Loan is an exclusive housing scheme for defence personnel offering lower interest rates, flexible repayment options, and extended loan tenure.
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- Pre-Approved Home Loan
SBI Pre-approved Loan (PAL) offers home loan sanction before property selection, allowing customers to negotiate confidently with builders or sellers.
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- SBI Realty
SBI Realty Loan allows customers to purchase a residential plot with the condition to complete house construction within 3 years; a separate home loan can also be availed for construction, with loan amounts up to ₹15 crores and a repayment period of up to 10 years.
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- Home Top-Up – Personal Loan
SBI offers Home Top-up Loans to existing home loan customers for personal needs, excluding speculative purposes, at competitive interest rates.
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- YONO Insta Home Top Up
SBI offers a fully digital, hassle-free top-up loan for personal use, exclusively available to pre-selected home loan customers through the YONO platform.
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- Home Loan to Non-Salaried (Differential Offerings)
This home loan product is tailored for non-salaried individuals, covering construction, purchase, takeover from other lenders, and renovation of residential properties.
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- Combo Home Loan for plot purchase plus construction
SBI Combo Home Loan is a composite loan that finances both plot purchase and house construction, offering upfront sanction for added assurance.
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- Sbi Privilege
Home loans for employees of State & Central govt./PSBs/PSUs.
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- SBI Tribal Plus
Home loans designed especially for Hilly/Tribal areas. can be availed for the purpose of purchase or construction of a new house.
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- SBI Reverse Mortgage Loan
Personal Loans for Senior Citizens. The Bank makes payments to the borrower(s) (in case of a living spouse) against the mortgage of their residential house property. The borrower is not expected to service the loan during his lifetime.
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- CRE (Commercial Real Estate) Home Loan
If a customer, as a family, owns more than 2 homes, then the Home Loan to the 3rd home onwards will be treated as a CRE Home Loan.
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- P-LAP (Personal Loan Against Property)
Loans against property for personal needs such as education, marriage, healthcare, etc. This cannot be used for business purposes.
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- Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0)
An Interest Subsidy Scheme (ISS) for the families of EWS/LIG/MIG to purchase or construct a house in statutory towns and notified centres.
SBI Home Loan EMI Calculator
The SBI home loan repayment is done as equated monthly instalments or EMIs. The amount of payment can be calculated by using the SBI home loan EMI calculator tool, which can help you easily understand the EMI schemes and payment amount. This can help you plan your finances effectively.
Inputs Required:
- Loan amount
- Interest rate
- Loan tenure
- EMI starts at approx. ₹765 per lakh at 8.40% for 30 years
Here is a table comparing the EMI payable across various tenures and amounts, considering the interest rate as 8.00%.
| Loan Amount | 3 yrs | 5 yrs | 10 yrs | 15 yrs | 20 yrs | 30 yrs |
|---|---|---|---|---|---|---|
| ₹50,000 | ₹1,567 | ₹1,014 | ₹1,213 | ₹955 | ₹836 | ₹734 |
| ₹1 Lakh | ₹3,134 | ₹2,028 | ₹2,426 | ₹1,910 | ₹1,672 | ₹1,468 |
| ₹5 Lakhs | ₹15,670 | ₹10,140 | ₹12,130 | ₹9,550 | ₹8,360 | ₹7,340 |
| ₹10 Lakhs | ₹31,340 | ₹20,280 | ₹24,260 | ₹19,100 | ₹16,720 | ₹14,680 |
| ₹20 Lakhs | ₹62,680 | ₹40,560 | ₹48,520 | ₹38,200 | ₹33,440 | ₹29,360 |
Note: The data given is accurate but should only be used for understanding purposes. The actual rates can vary depending on the bank’s discretion and interest rates.
Documents Required for SBI Home Loan
The SBI home loan options are heavily dependent on the documents submitted, as these support the borrower’s profile details. The document checklist may vary slightly depending on the applicant (salaried, self-employed, NRI) and loan type , but most customers need the following:
For Salaried Individuals:
-
-
- Last 3 months’ salary slips
- Form 16 (last 2 years) or ITR (acknowledged)
-
For Self-Employed Individuals:
-
- ITR for the last 3 years
- Balance Sheet & P&L statements
- Business proof or professional qualification (e.g., CA/Doctor)
- Banking Details/li>
- Last 6 months’ bank statements (all accounts)
- 1-year loan statement if you have an existing loan
- Property-Related Documents
- Agreement to Sale / Allotment Letter / Sale Deed
- Approved building plan and construction permissions
- Payment receipts or builder account statements
- Occupancy certificate (if applicable)
- Share certificate (for properties in Maharashtra)
Apply for SBI Home Loan
The SBI home loan application process can be completed online, using the mobile app, or at any branch. Online applications are faster and come with step-by-step tracking. Here is a generic guide on how to apply for a home loan online:
- Visit homeloans.sbi and navigate to products on the top right side of the page.
- Choose your loan type.
- Verify the eligibility below.
- Scroll down and hit ‘Apply’.
- Fill the application with KYC and income details.
- Upload documents or visit the branch.
- Track the application through the reference number.
Also Read: Things you need to know before taking loan
Track SBI Home Loan Application Status
After submitting your SBI housing loan application, you will receive a reference number. Tracking your application is simple and can be done online using your reference number or mobile number.
Here are the generic steps to follow:
- Visit the SBI loan portal.
- Click on the ‘Loans’ option and choose home loans.
- Click “Application tracker” on the right edge of the webpage.
- Choose the loan type.
- Enter your reference number and mobile number, and hit track.
- Enter the OTP, if prompted.
- View current status (Submitted / In-process / Approved / Disbursed)
SBI Home Loan Customer Care
SBI customer support is a one-stop solution to assist with home loan queries, documentation or repayment-related issues.
Here are the contact details:
| Toll-Free Number | 1800 11 2018 / 1800 1234 |
| customercare.homeloans@sbi.co.in (Home Loan) | |
| Address | Customer Service Department State Bank of India State Bank Bhavan, 16th Floor Madam Cama Road, Mumbai 400021 |
| Chatbot on website |
For further support options, check out the SBI customer support feature.
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