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SBI Bank Home Loan

SBI Regular home comes from the stream of SBI home loans that turns your dream of owning a house into reality. This loan features incredibly affordable interest rates starting at 6.80% per annum and going up to 7.85% per annum with concessions for women borrowers. The loan remains for flexible repayment tenure options ranging up to 30 years. On top of that, this loan does not cost any prepayment penalties or hidden charges. Let us expand this article and know more about the State Bank of India home loans.

SBI Housing Loan Interest Rates

Loan Amount

As per the bank’s discretion 

Interest Charges

Starts at 6.80% per annum to 7.85% 

Processing Fees

Up to 0.40% of the loan amount plus applicable taxes (Maximum Rs 10,000)

Tenure

Up to 30 years

Prepayment/ Foreclosure 

NIL

SBI Bank Home Loan Features & Benefits

Here are some noteworthy features of SBI bank home loan

1. Purpose : SBI Regular home helps individuals (salaried or self-employed) fund the purchase of their dream home. You can apply for this loan to buy: 

  • Purchase of a new house/flat
  • Purchase of a pre-owned house
  • Construction of house
  • Extension/repair/renovation of house
  • Purchase of a property under construction

2. Loan Amount : The State Bank of India home loan amount is determined by many important factors which include the location of the property you are going to buy, your repayment capacity, creditworthiness, income, age and many other varying checkpoints.

3. Rate of Interest : SBi Regular home loan interest rates range from 6.80% per annum to 7.85% per annum. The bank offers interest concessions to eligible women borrowers. 

SBI home loan interest rates depend largely on the location of the property, applicant’s profile including income, credit report and not to forget, relationship with the bank.

4. Loan Repayment Tenure : The bank allows borrowers quite a flexible time repaying the home loan. SBI Regular home loan repayment tenure ranges to a maximum of 30 years. 

5. PrepaymentYou can find relief from interest charges by making an SBI home loan foreclosure. The lender allows you to prepay your loan and save up on interest charges. There are no prepayment fees charged by the bank. 

Eligibility for State Bank Of India Regular Home Loan

Here are the SBI home loan eligibility requirements that you must meet in order to qualify for this loan easily:

  • Resident Indians are eligible for SBI Regular home loan.
  • Applicants should be a salaried employee, self-employed individual or a professional.
  • The minimum age of loan applicants should be 18 years when applying.
  • Individuals should not be more than 70 years of age at the time of loan termination.
  • Applicants should meet the minimum income criteria.

Documents Required for SBI Bank Home Finance

Here are the SBI home loan documents that are required by the bank for home loan application:

Documents 

Salaried Applicants

Self Employed Applicants

Identity Proof

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Address Proof

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

Income Proof

Salary Slips, Bank Statements, Form 16

Balance sheet and profit and loss account, IT Returns, Business Proof

Other Documents

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank

Compare other bank home loan interest rates

BANKS 

INTEREST RATE

AXIS Bank Home Loan

7.75% to 9.40%

SBI Regular Home Loan

6.95% onwards 

HDFC Bank Home Loan

6.95% to 7.50%

Kotak Mahindra 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 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

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%

SBI Bank Home Loan EMI Calculator 

SBI home loan EMI calculator is an incredible tool that is used to calculate the monthly instalments for State Bank Regular home loans. This calculator helps you plan and manage your finances according to the loan cost and it also helps you consider more loan repayment options. 

Here is how to make use of the SBI home loan EMI calculator:

  • Go to the official website of the State Bank of India.
  • Move to the “Personal Finance” dropdown list in the “Personal” section. 
  • Now, click on the “Home Loans” section.
  • Find and click the “Home Loan EMI Calculator”.
  • After that, you need to enter the SBI home loan amount, rate of interest applicable and the repayment tenure. 

You will now be able to see the payable SBI home loan EMI amount next to the calculator. 

For a faster calculation, you can reach out to the BankSathi Home Loan EMI calculator which only asks you to enter the loan amount, tenure and interest rate to give you the accurate EMI calculation. 

How to Apply for SBI Bank Housing Loan Loan?

Here are the ways to apply for SBI Regular home loan:

  • Apply for SBI home loan offline

You can apply for a State Bank home loan offline simply by visiting the nearest branch of State Bank of India. You must make sure to carry all the required documents that you will need to submit along with the SBI home loan application.

  • Apply for SBI home loan online

Apply for a State Bank home loan online by following the steps mentioned below

  • Go to the official website of State Bank of India.
  • Move to the “Personal Finance” dropdown list in the “Personal” section. 
  • Now, click on the “Home Loans” section.
  • Find and click the “Regular Home Loan” option.
  • Hit the “Apply Now” button.
  • Input all the information that is required in the home loan application form.
  • Once done, submit the application.

You can give a call to SBI bank customer service and enquire more about the home loan procedure.

State Bank Home Loan Customer Care

Here is the State bank of India customer care number which you can dial in case of any further query, complaints or grievances or any assistance regarding the SBI Regular home loan:

Toll-free: 1800 11 2018

FAQs On SBI Bank Home Loan 

Q.1 What is the SBI home loan interest rate?

The interest rate on SBI Regular home loan ranges from 6.80% per annum to 7.85% per annum. 

Q.2 What is the processing fee for SBI home loan?

The bank charges 0.40% of the loan amount (maximum Rs 10,000) plus applicable taxes for SBI Regular home loan processing fees.

Q.3 How do I track my SBI home loan application status?

You can either track your SBI Regular home loan application status online or do it offline. 

To track SBI home loan online, you have to do the following:

  • Visit the official website of SBI bank.
  • Head to the “Personal Finance” dropdown in the “Personal” banking list. 
  • Go to the “Home Loans” page.
  • Now, click on the “Application Tracker” option. 
  • Input your reference number and registered mobile number in the SBI home loan application tracker.
  • Click the “Track” button.

You can reach out to the State Bank of India customer care and know the SBI home loan status offline.

Q.4 What are the maximum repayment period for SBI Regular home loan? 

The maximum SBI home loan repayment tenure is 30 years. 

Q.5 How can I apply for SBI home loan balance transfer? 

You can apply for the SBI home loan balance transfer on the official website of SBI. You can also reach out to the nearest branch of State Bank of India with all the required documents.

Q.6 Can I prepay my SBI home loan?

Yes. You can make SBI home loan prepayment and save up on interest charges.

Last Updated on : 28/Apr/2021

Know More About

Sbi Regular Home Loan

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

Updated on 25 Nov 2017

Sbi Regular Home Loan Details
Interest Rate (Monthly reducing balance) 6.8% - 0%
Processing Fees 0.40% + 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