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The State Bank of India offers a home loan, the SBI Privilege home loan, exclusively to government employees. The SBI Privilege home loan can only be availed by the customers who are employees of the Central or State government such as PSUs, PSBs of Central Government, etc.

The amount of SBI Privilege home loan that can be availed to a customer depends on a number of factors which include the income, age, cost of the desired house or flat, liabilities, repayment capacity, etc. These aspects determine the loan amount that should be granted to the customer.

Why SBI Privilege Home Loan

SBI Privilege home loan can be availed by a customer to fulfill different purposes. Here are some reasons why SBI Privilege home loan is useful:

  • To construct a new house a flat

  • To buy a house or flat

  • To pay the cost of renovation/furnishing

  • To make new additions to the house or flat

  • To buy a land or plot for a new house



Loan Amount

Starting from 30 Lakhs up to 30 Crores

Interest Rate 

Varies from one case to another

Loan Tenure

Up to 30 Years

Processing Fee


Pre-payment charges


Age limit

18-75 Years

Features of SBI Privilege Home Loan

To help you dig more into this type of SBI home loan, we have listed out the important checkpoints below. Here are the features and benefits of SBI Privilege home loan:

  1. The SBI Privilege home loan is offered for:

  • The purchase of a new house

  • To renovate a house

  • To construct a new house, or 

  • To buy a new plot.

  1. This special loan is designed for government employees.

  2. This SBI home loan can be availed by people of age between 18years to 75 years. 

  3. The amount of loan provided by Privilege home loan ranges from Rs. 30 lakh to Rs. 30 Cr. 

  4. State Bank of India offers the repayment tenure for SBI Privilege home loan for up to 30 years. 

  5. SBI Privilege home loan can be availed post-retirement. It offers the relief of lower EMI after retirement. 

  6. Interest concession is provided to the women borrowers.

  7. There are no discounts provided on expenses like advocate fees for legal advice, CERSAI, and CIBIL fees.

Benefits of SBI Privilege Home Loan

Here are some sound-good benefits of SBI Privilege home loan:

  1. Attractive Interest Rate: When it comes to the rate of interest charged for SBI Privilege home loan, know that it is quite lower than that on any other SBI home loan or a home loan by another bank. The interest charges work on daily reducing balance.

  2. Concession for Women: SBI privilege home loan offers interest concessions for women borrowers. Women borrowers receive a special rate of interest on this home loan. If you have a woman as your co-applicant, it will be easier for you to fetch the lowest interest rate on this home loan. 

  3. No Processing Fees: One of the most interesting benefits of the Privilege home loan by SBI is that it does not demand any processing fees.

  4. No Prepayment Charges: In case you want to repay the amount of the home loan and close it, you will not be asked to pay any cost for foreclosure. 

  5. Longer Repayment Tenure: The tenure for the repayment of the SBI Privilege home loan is longer as compared to the others. It goes up to 30 years. 

  6. Lower Interest Rates Post Retirement: SBI Privilege home loan comes with a lower rate of interest for the loan that is availed post-retirement. The EMIs for this loan post-retirement is set to 50% of the net monthly income. 

Fee and Charges of SBI Privilege Home Loan 

To apply for a home loan you have to pay fees and charges applied by the SBI Privilege. It covers all charges and fees made by a bank to their customers. The following charges are taken from SBI Privilege Home Loan i.e processing fee, Prepayment charges, and CERSAI Registration charges, etc.



Processing fee 


Prepayment charges 


CERSAI Registration charges

Rs.50  plus GST for loan up to Rs.5 lakh

Rs.100 plus GST for loan above Rs.5 lakh

SBI Privilege Home Loan Interest Rates:

With Check-Off Facility

  • Loan up to Rs. 30 Lakhs : The interest rates will be the same for both men/others and women after considering the LTV ratio.

  • Loan above Rs. 30 Lakhs: The interest rates will be the same for both men/others and women after considering the borrower’s risk grade and limit.

Without Check-Off Facility

The interest rates applicable will be the same for everyone after taking into consideration the LTV ratio, gender, risk grade, and limit.

 Required Eligibility Criteria for SBI Privilege Home Loan

Here are the eligibility criteria which one should pass in order to avail SBI Bank Privilege home loan:



Employment Type

Government Employees / Pensioners

Minimum Age

18 Years

Maximum Age

75 Years

Credit Score

A credit score of 550 and above 


Varies from case to case

Documents Required for SBI Privilege Home Loan

In order to avail SBI privilege home loan successfully, you should make sure all the documents required for this loan are on the go. 

Here are the documents required for an SBI Privilege home loan:

1. Employer ID Card

2. Loan application: The loan application form should be duly filled along with 3 Passport-size photographs.

3. Identity proof: PAN card, voter ID card, passport, driver’s license

4. Address proof: Recent electricity bill/telephone bill/water bill/piped gas bill or passport/driving license/aadhar card

5. Income proof

  • For a salaried individual, co-applicant, or guarantor: Salary slip/salary certificate of last three months, form 16 of last two years of IT Returns of last two financial years (signed by IT Dept.)

  • For a non-salaried individual, co-applicant or guarantor: Business address proof, Business License Details, Balance Sheet & Profit & loss A/c of last three years, IT returns of last three years, TDS certificate, certificate of qualification

6. Property Papers

  • Permission for construction

  • Occupancy Certificate

  • Allotment letter/stamped agreement for sale/registration agreement for sale 

  • Electricity bill, maintenance bill, property tax receipt, share certificate

  • Copy of approved plan and Registered Development agreement of the builder, Conveyance Deed 

  • Payment Receipts or bank A/C statement 

7. Account Statement: Bank account statements of last six months, loan account statement of last year

SBI Privilege Home Loan Purposes

1. Construction of house/flat

2. Purchase of built house/flat

3. Purchase of under-construction house/flat

4. Making additional to existing house/flat

5. Repairs, renovations, extensions of house/ flat

6. Purchase of land/plot for house building

Other Home Loans Provided by SBI Bank

SBI NRI Home Loan 6.95% onwards
SBI Flexipay Home Loan 7.40% 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

Compare other bank home loan interest rates

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%
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 SBI Privilege Home Loan

In order to apply for SBI privilege home loan, you can opt for the following options:

  • Offline mode: You can visit the nearest SBI branch to apply for the loan. 

  • Online mode: You can navigate to the web portal of SBI to apply for the loan.

SBI Privilege Home Loan Customer Care 

Contact number : 1800112211 / 18004253800

Email id:  [email protected]

How to calculate EMI of SBI Privilege Home Loan 

The following formula is used to calculate the EMI of SBI Privilege Home Loan :

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


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

Financials products offered by Bank:


SBI Flexipay Home Loan Frequently Asked Questions:

1. Are there any charges of prepayment of the SBI Privilege home loan?

No. If you have the required funds to repay the SBI Privilege home loan, you will not be asked to pay any penalties/charges for its foreclosure. 

2. What is the maximum age of the applicant for the SBI Privilege home loan?

The maximum age of a loan applicant for SBI Privilege home loan is 75 years. 

3. How much loan amount can I avail?

The amount of loan offered by SBI Privilege home loan ranges from Rs. 30 lakh to Rs. 30 Cr. The amount of loan sanctioned to you depends on factors such as monthly income, risk grade, repayment capacity, etc.

4. What is the current SBI MCLR?

The SBI Home Loans are subjectd to 1 year MCLR, which is 8.45% currently.

5. What is the current interest rate offered on SBI Privilege home loans?

The current interest rate offered on SBI Privilege home loan is starting at 8.55%. This interest rate is dependant on various factors such as the borrower’s repayment capacity, loan amount, loan tenure, property value, etc. 

Last Updated on : 17/Mar/2021

Know More About

Sbi Privilege Home Loan

You're eligible for a Sbi Privilege Home 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 Privilege Home Loan Interest Rates

Updated on 25 Nov 2017

Sbi Privilege Home Loan Details
Interest Rate (Monthly reducing balance) 6.95% - 0%
Processing Fees Nil
Loan Tenure 1 year to 30 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

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