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SBI HOME TOP UP LOAN

SBI Home Top Up loan is a type of loan offered by State Bank of India to meet financial requirements and can be availed as a top up over the existing home loan. SBI bank home loan offers this type loan for the tenure ranging up to 30 years.

Salaried and Non salaried Indian residents and NRIs are availed to take SBI Home Top Up Loan. This loan can be taken to meet the urgent requirements of the customers to borrow a certain amount over and above their home loan amount. The customer who already took home loan from SBI Bank and needs more amount, they can opt for home top up loans. It is availed for personal purposes. Customers have a satisfactory repayment track record of 1 year or more, after completion of moratorium period.

SBI Home Top UP Loan Interest Rates & Charges

Rate of Interest

Starts at 7.90%

Processing Fee

0.40% + GST (Min. Rs 10,000 + GST and Max. Rs 30,000 + GST)

Prepayment/Foreclosure Charges

NIL 

Loan Tenure

Up to 30 years

Features and Benefits of SBI Home Top Up Loan

A top up loan is a general-purpose loan. State Bank of India Home Top Up is provided to the customers over the existing home loan. You can avail this loan at times if you already have a home loan and need additional funds. This loan can fulfill any of your personal financial needs. 

Here are the notable features and benefits of SBI top up loan:

  1. Interest Rate : SBI home top up loan can be availed at competitive rates of interest. The interest rate on home top up loans by SBI is determined by the risk score of the customer as well as the LTV of the customer. The SBI home top up loan interest rate starts at 7.90% . 

  2. Processing Fee : SBI home top up loan comes at processing fee as low as 0.40%. It counts up to the minimum of Rs 10,000 plus GST and the maximum of Rs 30,000 plus GST.

  3. No Hidden Charges : You need to worry about any sneaky charges levied on the home top up loan. SBI home top up loan does not cost any hidden charges. 

  4. Loan Tenure : State Bank of India home top up loan offers customers a repayment tenure at quite a flexibility. You get the repayment tenure of up to 30 years for this type of loan. 

  5. Overdraft : Know that SBI home top up is offered to customers as a way of overdraft facility.

  6. Prepayment : Do you have sufficient funds to prepay your SBI home top up loan and close it already? If yes, then you may just do it. The bank will not ask you to pay any prepayment charges or penalties in case you wish to close your loan before the end of the repayment tenure. 

  7. Fast Procedure : Applying for an SBI home top loan will not make you frustrated. State Bank of India offers a fast and easy loan procedure with minimal documentation. 

SBI Home Top Up Loan Eligibility

Now that you know the key features of SBI home top up loan, you must be wondering if you can apply for this type of loan. Well, there are some eligibility standards designed for SBI bank home top up loans that have to be met by you if you wish to avail the loan. 

Here is the eligibility criteria for SBI home top up loan:

  1. The minimum age of the customer should be 18 years to be eligible for SBI home top up loan. 

  2. The maximum age of the customer should not exceed 70 years.

  3. The applicant should either be a resident Indian or an NRI.

  4. The applicant should be salaried or self employed.

  5. The credit score of the applicant should not be less than 750. 

Documents Required for SBI Home Top Up Loan

Documentation is an important step on your way to availing the loan and thus, it is necessary that you present all the documents that are asked by the lender. We have mentioned all the documents required for SBI home top up loan which you should check before you apply for the loan.

Here are the documents required for SBI home top up loan application:

Documents

Salaried Individuals

Self Employed Individuals

Identity Proof

Aadhar Card, Passport, Driving Licence, Voter ID Card

Aadhar Card, Passport, Driving Licence, Voter ID Card

Address Proof

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Passport, Voter ID Card,  Recent Utility Bill such as Electricity Bill, Water Bill, Telephone Bill

Income Proof

Salary Slips, Bank Statement, Form 16, Salary Certificate

IT returns, Bank Statements, Challans Showing Payment of Advance Income Tax

Other Required Documents

  • Passport-size Photographs

  • Loan Application Form

  • Employee ID Card (For salaried applicant)

  • Proof of Business (For self employed applicant)

Compare other bank home loan interest rates

BANKS 

INTEREST RATE

AXIS Bank Asha Home Loan

Starts at 10.05% onwards 

AXIS Bank Shubh Aarambh Home Loans

Starts at 7.75% onwards

AXIS Bank Fast Forward Home Loans

Starts at 7.75% onwards

AXIS Bank Home Loan

7.75% to 9.40%

AXIS Bank Empower Home Loan

Start at 9.55% onwards 

AXIS Bank Super Saver Home Loan

8.15% to 8.30%

AXIS Bank TopUp Loan

8.90% to 9.15%

SBI NRI Home Loan

6.95% onwards

SBI Flexipay Home Loan

7.40% onwards 

SBI Privilege Home Loan

6.95% onwards 

SBI Regular Home Loan

6.95% onwards 

SBI Shaurya Home Loan

6.95% onwards 

SBI Pre-approved loan

6.95% onwards 

SBI Realty Home Loan

7.65% onwards

SBI Home Top Up Loan

7.90% onwards

SBI Bridge Home Loan

9.50% to 10.50%

SBI Tribal plus Home Loan

6.75% onwards

SBI Earnest Money Deposit

10.45% onwards

SBI Reverse Mortgage Loan

8.05% onwards

SBI CRE Home Loans

7.45% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra Bank Home Loan

7.40% to 9.70%

Yes Bank Home Loan

9.60% to 10.55%

Citi Bank Home Loan

7.34% to 8.29%

ICICI Bank Home Loan

6.95% to 8.05%

Standard Chartered Bank Home Loan

Starting at 8.71%

IDBI Bank Home Loan

7.80% to 8.80%

RBL Bank Home Loan

9.75% to 10.05%

HSBC Bank Home Loan

8.55% to 8.655

HSBC Bank Smart Home Loan

11.005 to 11.505

IndusInd Bank Home Loan

8.00% to 15.00%

Bank of Baroda Home Loan

6.85% to 7.75%

Bank of India Home Loan

6.85% to 7.755

Canara Bank Home Loan

6.90% to 8.90%

Indian Bank Home Loan

7.55% to 8.40%

Punjab National Bank Home Loan

Starting at 7.00%

Other products of SBI Bank

1. SBI New Car Loan Scheme

2. SBI Loan Against Properties

3. SBI Personal Loan

How to Apply for a SBI Home Top Up Loan

You can either use the offline or the online method in order to apply for a SBI home top up loan. SBI home loan application process is seamless and does not demand much of your time, provided you have all the necessary documents on the go. 

Here is how to apply for State Bank home top up loan

1. Apply for State Bank Home Top Up Loan Offline : In order to apply for an SBI home top up loan, all your need to do is visit the nearest branch of SBI bank where the official will assist through the application process. When visiting the branch, remember to carry all the required documents for quick procedure.

2. Apply for State Bank Home Top Up Loan Online : The official SBI bank website has made applying for any type of SBI loan more convenient than ever. If you wish to quickly apply for SBI home top up loan online then you can follow these steps:

  • Navigate to the official web portal of SBI. 

  • Now, find and click the “SBI Loans” at the top section.

  • Find and click the “SBI Home Top Up Loan” in “Our Products” display.

  • Once you are on the “SBI Home Top Up Loan” page, you need to click the “Apply Now” button.

  • Fill in all the fields as asked in the form which will help check your eligibility, loan offer and the complete application. 

For any assistance regarding the SBI home loan application, you can contact the customer service and enquire with them about it. You can also visit the bank branch and talk with the executive regarding the loan procedure . 

State Bank of India Home Loan Contact Information

If you have any queries, grievances or feedback regarding the SBI loans, you can contact the customer helpline.

Here is the contact details for State Bank of India Customer Service:

Toll-free: 1800 11 2018

How to calculate EMI of SBI Home Top Up Loan 

The following formula is used to calculate EMI of SBI Home Top Up Loan :

EMI = [PXRX(1+R)^N] / [(1+R)^N-1]

Where,

  • P stands for Loan Amount
  • R stands for Interest Rate
  • N stands for tenure in number of months 

Financials products offered by Bank

BUSINESS LOAN

CAR LOAN

COMMERCIAL LOAN 

EDUCATION LOAN

GOLD LOAN

HOLIDAY LOAN 

HOME LOAN 

LOAN AGAINST PROPERTIES 

LOAN AGAINST SECURITIES

PERSONAL LOAN

PROFESSIONAL LOAN

TWO WHEELER LOAN

FAQs On SBI Home Top Up Loan

1. How can I track my SBI home top up loan application?

If you want to know the status of your SBI home top up loan application, you have to follow these simple steps:

  • Go to the official web portal of SBI. 

  • Click the “SBI Loans” at the top section.

  • Now hit the “SBI Home Top Up Loan” in the “Our Products”section.

  • On the “SBI Home Top Up Loan” page, you need to click the “Application Tracker” at the top of the application form.

  • Fill in the required fields. 

2. How can I calculate the SBI home top up loan EMI?

It is best to calculate the Equated Monthly Installment for your SBI Home Top Up Loan as it helps your figure out how much of an amount is on you to pay every month. 

Here is how to calculate your SBI Home loan EMI:

  1. Navigate to the official web portal of SBI. 

  2. Now, find and click the “SBI Loans” at the top section.

  3. Now find and hit the “Calculators” option at the top.

  4. Input the loan amount, rate of interest and repayment tenure in years.

  5. You will now be able to view the EMI for your SBI home top up loan. 

3. Do I have to pay any prepayment charges to close the loan?

No. SBI home top up loan allows you to prepay the loan amount and close the loan before the tenure ends. Thus, if you have sufficient funds to prepay the entire loan amount and avoid paying interest rates.

Last Updated on : 11/Mar/2021

Know More About

Sbi Home Top Up Loan

You're eligible for a Sbi Home Top Up Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Home Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Sbi Home Top Up Loan Interest Rates

Updated on 25 Nov 2017

Sbi Home Top Up Loan Details
Interest Rate (Monthly reducing balance) 7.9% - 0%
Processing Fees 0.40% of the loan amount plus applicable GST subject to a minimum Rs.10000 and Maximum Rs.30000 plus GST
Loan Tenure 1 year to 30 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Home Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959