Loan Amount
SBI Home Loan offers a wide range of loan amounts, reaching up to ₹15 Crores, catering to individuals across different financial segments and fulfilling diverse housing needs
Competitive Interest Rates
With interest rates starting as low as 8.5%, SBI Home Loan provides affordability, allowing you to manage EMIs comfortably and focus on achieving your dream of homeownership.
No Prepayment/Foreclosure Charges
SBI Home Loan offers the freedom to make prepayments or foreclose the loan without incurring additional fees, enabling you to reduce interest costs and clear the loan sooner if desired.
Affordable Processing Fees
starting at just 0.35%, the processing fee for an SBI Home Loan remains competitive and is based on eligibility and the specific loan type chosen.
Application Process
Applying for an SBI Home Loan is convenient and flexible. You can apply online from the comfort of your home or visit the nearest SBI branch for assistance.
Flexible Tenure
SBI Home Loan provides repayment tenures of up to 30 years, allowing you to choose a tenure that aligns with your financial planning and repayment ability.
Balance Transfer Facility
For those with existing home loans at other banks, SBI offers a hassle-free balance transfer facility, allowing you to move your loan to SBI without prepayment charges and benefit from lower interest rates and better terms.
Minimum Documentation
The home loan process with SBI is simple and efficient, requiring minimal documentation to ensure a quick and smooth disbursal process.
Wondering if you’re eligible? Here’s what you need to qualify for an SBI Home Loan:
Age |
Minimum age of 18 years and a maximum of 70 years at loan maturity |
Income |
Consistent income from salaried or self-employed work |
Credit Score |
A credit score above 650 improves loan eligibility |
Employment Stability |
Minimum work experience for salaried individuals and business stability for self-employed applicants |
Choose from a range of SBI home loan schemes designed to meet various needs:
1. Regular Home Loan:Ideal for purchasing a new or resale property
2. Balance Transfer Loan: Transfer your existing high-interest loan to SBI for lower EMIs
3. SBI Realty: A loan for purchasing land to build your own home
4. SBI Flexipay Home Loan: Provides an option to pay only interest during the initial period
5. Top-Up Loan:Avail additional funds for home renovation or personal needs
Prepare the following documents to streamline your application:
Identity Proof |
Aadhaar, Passport, or PAN |
Address Proof |
Aadhaar, utility bills, or rent agreement |
Income Proof |
Latest salary slips, Form 16, or ITR for self-employed |
Bank Statements |
Last six months’ bank statements |
Property Documents |
Property sale agreement and title documents |
An SBI Home Loan offers significant tax savings:
Principal Repayment |
Deduction under Section 80C for up to ₹1.5 lakh |
Interest Payment |
Deduction of up to ₹2 lakh under Section 24(b) |
Additional Benefit |
First-time homebuyers may claim extra benefits under Section 80EEA |
Use SuGanta’s SBI Home Loan EMI Calculator to estimate your monthly payments. Simply enter your loan amount, interest rate, and preferred tenure, and get an immediate overview of your repayment plan.
Need a more accurate EMI estimate?
Enjoy low processing fees starting from 0.35% of the loan amount, plus applicable taxes. Additional charges may apply for document verification and legal processes, ensuring a transparent cost structure.
Use our eligibility calculator to assess your qualification.