SBI Home Loan

8.20% to 8.80% Interest Rate

SBI is considered as big daddy of home loan. SBI home loan has been voted as the most preferred home loan provider within 21 cities across the country in AWAAZ Consumer awards by a survey conducted with the association of AC Nielsen-ORG marg by TV-18.

State bank has largest housing loan branches across the country that will help them to connect the customer rapidly.

SBI offers home loan for purchase or construction of housing property, extension or improvement in the property and takeover of existing loan, purchase of a land and construction on the same, known as composite loan.

Home Loans are offered up to 90% of the agreement value of the property when the loan amount is less than 20 lakhs and 80% of the agreement value if the loan amount is more than 20 lakhs. Please note that, registration charges, stamp duty, etc are no longer been considered by the lenders.

SBI Home Loan Features:

  • Age eligibility: Entry age is 18 years. 60 years for salaried and 65 years for self employed by which the loan amount should be fully repaid. This can be extended to 70 years, if the borrower convinces the lender about the income availability after the retirement.
  • Loan amount: Factors like Individual’s age, income, assets and liabilities, cost of the proposed house property, credit history and repayment capacity, etc. are taken in to consideration to calculate the loan amount.
  • Applicant can enhance the amount by allowing family member as co-applicant in the loan application. Family members include spouse, children and parent.
  • Interest rate: SBI offers lowest interest rate in the industry. SBI do not provide home loan with fixed rate of interest but offers loan with only floating rate of interest. Floating rate of interest can fluctuate whenever there is any change in the base rate.
  • SBI Home Loan EMI: EMI/per lac in the floating home loan is Rs. 868/- on the basis of interest rate 8.50% for 20 years tenure.
  • SBI Home Loan Repayment: Maximum 30 years is the tenure offered by SBI or by age of 70 years the loan amount should be fully repaid. Foreclosure charge and prepayment penalty is NIL.

SBI Home Loan Products


This scheme will facilitate the borrower to park the surplus amount and withdraw the same whenever required. Loan is sanctioned as an overdraft with flexibility to operate home loan account like current and saving account. Minimum Loan Amount – Rs. 20 Lakhs.

Maximum Loan Amount – No Cap.


This product will help the borrower to purchase a plot for construction of house. Construction should commence within 2 years after the loan is availed.

Maximum Loan amount: Rs.10 crores

Maximum tenure: 15 years


This product offers loan to all rural and Semi-urban centers having population up to 50,000 as per 2001 census. Loans are sanctioned for the purpose of construction/purchase, improvement of housing property and purchase of plot and construction on the same.

Minimum loan amount- Nil

Maximum loan amount- Rs. 5 Lacs

Repayment Period: Maximum tenure is 15 years


It provides 20% higher loan amount than the normal loan eligibility to salaried employees of private sector companies/MNC, PSU and the government employees. Only the interest amount is payable in the first 36 months. The regular EMI will start after 36 months. Age between 21 years to 45 years and net monthly income should be Rs.30,000/-.