SBI Home Loan Interest Rate

SBI Home Loan interest rates start from 8.40% p.a. State Bank of India offers house loans with interest rates starting at 8.40% p.a. for terms up to 30 years and loan amounts up to 90% of the purchase price of the property .The State Bank of India provides a variety of unique house loan programs for those who work in the military, are employed by the government, are not paid employees, are purchasing “green” homes, or reside in hilly or tribal regions. SBI house loans also provide women borrowers interest rate reductions of 0.05%, a home loan overdraft facility, a balance transfer facility, a top-up facility, etc.

SBI Home Loan Interest Rates 

SBI Housing Loan interest rates start from 8.40% p.a. and higher. Depending on the applicant’s credit score and the types of loans available, SBI offers different home loan interest rates. SBI gives candidates with CIBIL scores of 800 or higher the lowest home loan interest rates. At higher interest rates, SBI Home Loans are also available to applicants who are new to credit or lack a CIBIL score. The bank has not said how interest rates would fluctuate depending on factors like loan size, LTV ratio, employment history, monthly income, etc. However, while determining the interest rates for applicants’ home loans, lenders may take these variables into account.

The interest rates for the various SBI Home Loan programs that are available based on the applicants’ credit scores are listed below.

Rates for SBI Regular Home Loans with Flexipay, NRI, Non-Salaried, Privilege, and the Apon Ghar Campaign (valid till December 31st 2023)

CIBIL ScoreInterest Rate (p.a.)
NTC/No CIBIL/-18.70%

Card Rates (Term Loan)

CIBIL ScoreInterest Rate (p.a.)
NTC/No CIBIL/-19.35%

Max Gain

CIBIL ScoreInterest Rate (p.a.)
>=7509.55% p.a.
700-7499.75% p.a.
650-6999.85% p.a.
550-64910.05% p.a.
NTC/No CIBIL Score/-19.75% p.a.


Home Loan Balance Transfer and Ready to Move-In Properties (20 bps concession above the aforementioned recommended rates for CIBIL Score of 700 and aforementioned)

For builder tie-up projects, there is an additional 5 bps discount over the previously suggested prices.

Additional rate concession of 10 bps for Shaurya and Shaurya Flexi Product over the previously suggested rates.

The campaign rates listed above include any product-level discounts and interest rate concessions for female borrowers.

For loans up to Rs 30 lakh with LTVs of 80% to 90%, there is a 10 basis point surcharge.

For customers having a CIBIL score of at least 750 and a Max Gain or Realty Loan, there is a 5bps rate reduction.

SBI Home Loan Interest Rate

Types SBI Home Loan

Regular Home Loan
Purpose SBI provides the Regular Home Loan program to finance the acquisition of both newly constructed and pre-owned residences. The SBI Regular Home Loan program is available to those who wish to obtain a home construction loan to pay for the building of their home or a home renovation loan to make repairs, renovations, or extensions to their current home.

Up to 30 years’ tenure

Eligibility requirements

1.Minimum age: 18 years

2.Maximum age: 70 years

3.Nationality: Resident Indian

NRI Home Loan
For the purpose of buying residential properties in India, SBI provides NRI Home Loans to non-resident Indians.

Eligibility requirements

1.Minimum age: 18 years
2.Maximum age: 60 years
3.Nationality: Person of Indian Origin and Non-Resident Indian

SBI Flexipay Home Loan
SBI offers Flexipay Home Loan to salaried borrowers, allowing them to access larger loan amounts. The SBI Flexi Home Loan has two terms for repayment: the pre-EMI period, during which the borrower only pays the interest component, and the balance period, during which The borrower pays all the monthly interest and principal payments.

SBI Home Loan Interest Rate

30-year limit period

Eligibility requirements:

1.Minimum age: 21-45 years

2.Maximum age: 70 years

3.Job Profile: Salaried

4.Nationality: Indian

Transfer of the SBI Home Loan Balance
The SBI house Loan Balance Transfer program enables current borrowers of house loans from other banks and HFCs to switch to State Bank of India at cheaper interest rates.

Privilege Home Loan from SBI
In order to qualify for the SBI Privilege Home Loan Program, government personnel must be employed by the Central or State Government, Public Sector Banks, or Public Sector Entities.

Up to 30 years’ tenure

Eligibility requirements:

1.Government personnel working for the federal, state, or local governments, public sector banks, public sector enterprises run by the federal government, and other people with pensionable service.
2.Minimum age: 18 years
3.Maximum age: 75 years
4.Nationality: Resident Indian

Shaurya Home Loan by SBI
Designed specifically for Army and Defense employees, the SBI Shaurya Home Loan program offers cheaper interest rates, simple repayment alternatives, and a longer payback duration.

Up to 30 years’ tenure

Eligibility requirements:

1.Job Profile: Army and Defence Personnel
2.Minimum age: 18 years
3.Maximum age: 75 years
4.Nationality: Resident Indian

Pre-Approved Home Loan from SBI
To acquire pre-approved loan sanction before completing the property, potential house loan applicants may use the SBI Pre-approved house Loan program. This enables the applicants to bargain with the builders or vendors with assurance. Based on the applicant’s income for a house loan, this sanction is provided.

Up to 30 years’ tenure

SBI Realty Home Loan
With the understanding that construction must start within five years of the loan’s approval date, prospective home loan borrowers may use the SBI Realty (Plot) Home Loan to finance the acquisition of a plot and the construction of a home thereon.
Loan Amount: Up to Rs 15 crore

Up to 10 years’ tenure

Eligibility requirements:

1.Minimum age: 18 years
2.Maximum age: 65 years
3.Nationality: Indian

SBI Top-up Home Loan
The SBI Top-up house Loan program allows current house loan borrowers to get extra loan funds for any personal purpose over and beyond their current home loans.

Up to 30 years’ tenure

Eligibility requirements:

1.Minimum age: 18 years
2.Maximum age: 70 years
3.Nationality: Resident Indian/NRIs

YONO Insta Home Top-up Loan from SBI
To satisfy their individual needs, pre-selected SBI YONO Insta house Top-up Loan clients with current house loans may apply. This is a home loan rapid top-up service that is provided through an entirely digital method using the SBI YONO app.

Eligibility requirements:

Customers that have already been pre-selected based on credit checks that include timely repayment, remaining loan term, etc.

Differential Offerings for SBI Home Loans to Non-Salaried Persons
For the purpose of financing the acquisition and construction of homes, the repair and renovation of existing housing units, and the balance transfer of existing home loans from other lenders to SBI, the SBI Home Loan to Non-Salaried-Differential Offerings is a special home program created for non-salaried applicants.

Amount of Loan: Rs. 50,000 to Rs. 5 crore

Up to 30 years’ tenure

Eligibility requirements:

1.Minimum age: 18 years
2.Nationality: Resident Indian
3.Job Profile: Non-Salaried
4.Be in operation for at least three years.
5.The previous two years’ net profit should have been earned.
6.Regular and standard existing credit facilities
7.The company should be debt-free or an existing borrower if the proposed residential property is jointly purchased by the owner and proprietary corporation.

Tribal Plus SBI
SBI Tribal Plus is a unique home loan program created for those who live in tribal or hilly areas. The applicants may utilize the home loan program for the acquisition or construction of a new home or apartment, the purchase of a home or apartment that is less than 10 years old, or the repair, remodeling, or expansion of an existing property.

Loan Amount:
Up to 20 lakh for salaried individuals.
Up to 15 lakh for non-salaried individuals

Up to 15 years’ tenure

Eligibility requirements:

1.Maximum age: 21 years
2.Maximum age: 60 years
3.Nationality: Resident Indian

Maxgain Home Loan from SBI
A house loan overdraft option called SBI Maxgain is available to applicants who want to buy Ready to Move-in homes. Just as with Regular Home Loans, the borrowers must pay their EMIs on time. But every month, the amount of the principle debt is deducted from the drawing power on the overdraft facility.

Documents Required for SBI Home Loan

General Documents

1.ID card of the employer
2.properly completed application form and three passport-sized photos
3.ID Proof: PAN/Voter ID/Passport/Driving License
4.Address verification requires a copy of a phone bill, utility bill, water bill, gas bill, passport page, or Aadhar card

Property Papers

1.Permission for construction.
2.Sale contract Allotment letter, registered (only in Maharashtra), and stamped sale agreement.
3.Ready-to-move-in occupancy certificate, maintenance bill, power bill, and property tax receipt.
4.Copy of plan approved
5.Registered Development Agreement of the builder
6.Conveyance Deed
7.Payment receipts or bank account information for payments made to the builder

Account Statement

1.All bank accounts’ most recent six-month bank statement
2.Statement of loans made in the last year from different financial institutions

Income Proof for Salaried Applicant/Co-applicant/Guarantor

1.Last 3 months salary slip/certificate
2.ITR/Form 16 copy, with IT Department acknowledgment

Income Proof for Non-Salaried Applicant/Co-applicant/Guarantor

1.ITR for last 3 years
2.Business Address Proof
3.three-year previous balance sheet and income statement.
4.TDS Certificate (Form 16)
5.A certificate of qualification for professions such as doctors and accountants
6.Business License Details


1.Who gives lowest home loan interest rate?
Ans: The lowest house loan interest rate is now being offered by Union Bank of India, beginning at 8.35% per annum. SBI and Bank of Baroda are the next in line, with interest rates on their house loans starting at 8.40% p.a.

2.Is SBI good for home loan?
Ans: Home loans from SBI and PNB are both reliable choices. PNB is an excellent option for borrowers who desire a fixed-rate loan and have a quicker processing time, while SBI is a suitable alternative for borrowers who want a lower interest rate and a greater loan amount.

3.Is SBI home loan difficult?
Ans: A high credit score ensures that your SBI Home Loan will be approved quickly and without any issues.

4.How many days SBI home loan is processed?
Ans: After receiving adequate and full documentation and completing all necessary steps, loans are typically released in 3 to 10 days.

5.Can a housewife apply for a home loan?
Ans: Although a “housewife” is eligible for a home loan, you must apply for the loan as a joint applicant with someone who is not a housewife. Typically, women’s house loan interest rates are lower than standard home loan interest rates.

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