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.
|
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 |
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:
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. Prepayment : You 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.
Here are the SBI home loan eligibility requirements that you must meet in order to qualify for this loan easily:
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 |
|
BANKS |
INTEREST RATE |
|
7.75% to 9.40% |
|
|
6.95% onwards |
|
|
6.95% to 7.50% |
|
|
7.40% to 9.70% |
|
|
9.60% to 10.55% |
|
|
7.34% to 8.29% |
|
|
6.95% to 8.05% |
|
|
Starting at 8.71% |
|
|
7.80% to 8.80% |
|
|
9.75% to 10.05% |
|
|
8.55% to 8.655 |
|
|
8.00% to 15.00% |
|
|
6.85% to 7.75% |
|
|
6.85% to 7.755 |
|
|
6.90% to 8.90% |
|
|
7.55% to 8.40% |
|
|
Starting at 7.00% |
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:
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.
Here are the ways to apply for SBI Regular home loan:
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 a State Bank home loan online by following the steps mentioned below
You can give a call to SBI bank customer service and enquire more about the home loan procedure.
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
The interest rate on SBI Regular home loan ranges from 6.80% per annum to 7.85% per annum.
The bank charges 0.40% of the loan amount (maximum Rs 10,000) plus applicable taxes for SBI Regular home loan processing fees.
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:
You can reach out to the State Bank of India customer care and know the SBI home loan status offline.
The maximum SBI home loan repayment tenure is 30 years.
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.
Yes. You can make SBI home loan prepayment and save up on interest charges.
Last Updated on : 28/Apr/2021Know More About
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
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