SBI Bank Home Loan
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 offer 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 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 issue earlier by rejecting their loan application due to 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 other 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 for 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 payback 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 new home as per your desire choice but having shortfall of fund. Let your worry be aside, when SBI bank offer 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 & disburse. 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
