State Bank of India offers a range of home loans to match the individual needs and preferences of consumers. SBI has been awarded the title of “The most preferred Home Loan Provider” by various surveys. Some of the home loan features that add to the popularity of SBI home loans are:

  • Low-interest rates
  • Flexible payment options
  • No hidden charges etc.
  • Vast network of branches

SBI Home Loan Details
Updated on 28 Nov 2017

Interest Rate For women – 8.30% to 8.65%
For General Customers – 8.35% to 8.70%
Processing Fees 0.35% of Loan Amount, min of Rs.2,000 to max of Rs.10,000 (plus applicable tax)
Loan Tenure 30 years
Pre-closure Charges Nil

Salient Features of SBI Home Loans

  • Lower rate of interest as compared to its competitors
  • Low processing fees
  • No hidden charges
  • No pre-closure charges making repayment easier and more flexible
  • Vast network of retail branches spread across India
  • Interest calculation on a daily reducing balance which lowers the overall interest paid

SBI Home Loan Eligibility Criteria


  • The age of the applicant must be between 18 years and 70 years.
  • The annual income must be at least Rs.1.2 lakh per annum.


  • The age of the applicant must be between 21 years and 70 years.
  • The annual income must be at least Rs.2 lakh per annum.

Documents Required for SBI Home Loan Application

  • Duly filled in loan application
  • 3 passport-size photographs
  • Identity Proof (Voter ID Card/Passport/Driving License/Pan Card/Aadhaar Card)
  • Proof of Residence (Current Address Proof)
  • Bank Statement for last 6 months
  • Personal assets and liabilities declaration
  • Proof of property
  • Income Tax Proofs (If required)
  • Signature Identification from present banker

Documents Required for Guarantor:

  • Assets and liabilities Statement
  • 2 passport-size photographs
  • Identity Proof (Voter ID Card/Passport/Driving License/Pan Card)
  • Address Proof (Telephone Bill/Electricity Bill/Property Tax Receipt/Passport/Voter ID Card)
  • Signature verification from existing banker

SBI Home Loan Schemes

SBI offers a number of home loan products to the consumers. You can choose the one that suits your budget and requirement.

Following are some of the home loan options available from SBI.

SBI MaxGain Home Loan

The SBI MaxGain home loan is for those who aim to reduce their interest burden at no additional cost. This home loan is structured as an overdraft account, giving you the flexibility to withdraw and deposit amounts depending upon the availability of funds. Excess funds when parked with this account reduce the overall principal while calculating the interest on a daily basis. Use the MaxGain Home Loan Account to deposit your excess savings, annual bonus etc. You also have the flexibility to withdraw the idle/surplus money deposited in MaxGain Home Loan Account at any point in time. Bank also provides internet banking, ATM, and chequebook facility with this home loan account.


  • Min. Loan Amount – Rs.5 lacs
  • Max. Loan Amount – No upper limit
  • Interest Rate – 0.25% over and above the existing home loan interest
  • Higher Liquidity, Savings on total interest paid
  • Pre-closure Charges – Nil

SBI Yuva Home Loan

The SBI Yuva home loan is designed especially for the young borrowers generally taking a loan for their first home. The age eligibility is between 21-45 years. This loan helps you get an amount which is up to 20% more the regular home loan amount. This home loan is a perfect fit for professionals starting their first job and government employees. Under this scheme, the home loan EMI repayment starts only after 36 months from the date of disbursement of the loan. For the first 36 months, only interest is to be repaid.


  • Eligibility – 21-45 years
  • Minimum Income – Rs.30,000 per month
  • Pre-closure Charges – Nil

SBI NRI Home Loan

As the name suggests, NRI loan is tailor-made for Non-Resident Indians (NRIs) and for People of Indian Origin (PIOs). This loan is given to an NRI who earns a regular income and the minimum employment period (abroad) is not be less than 2 years.


  • Min. Loan Amount – Rs.3 lacs
  • Max. Loan Amount – No upper limit
  • Eligibility – NRI or PIO
  • Pre-closure Charges – Nil

SBI Realty Home Loan

If you want to buy land or plot, SBI offers you a Realty Home Loan. The construction on a plot purchased should start within 2 years from the disbursement date of the loan. This type of loan comes with the flexibility of availing another loan for construction of a house on the plot of land bought. So a customer can avail a composite loan with the SBI realty home loan. One for the purchase of a plot of land and the other for the construction of a house on it.


  • Max. Loan Amount – Rs.15 crores
  • Loan Tenure – Up to 15 years
  • Pre-closure Charges – Nil


A Pre-Approved Home Loan from State Bank of India is called SBI PAL. This loan is sanctioned based on the repayment capacity assessed by the bank while the property is not yet identified by the applicant. This gives you the confidence to search and negotiate with builders/sellers on the price of the property.


  • Eligibility – Depends on the annual income of the applicant
  • Tenure – Pre-Approved Letter of arrangement is valid for a period of 4 months
  • Min Loan Amount – Rs.10 Lacs
  • Max Loan Amount – No upper limit
  • Pre-closure Charges – Nil

SBI Her Ghar Home Loan

SBI Her Ghar home loan is designed especially for women borrowers. A woman needs to be an applicant or co-applicant in this type of home loan. Also, the property is purchased through this home loan should be in the name of the woman applicant or she should be the first owner in case of joint ownership. SBI Her Ghar Home Loan aims at enabling the women to own asset(house) and carries a social motive in line with the empowerment of women.


  • Loan Tenure – up to 30 years
  • Pre-Payment Charges – Nil

More Housing Loans from SBI

Apart from the above-listed home loan schemes, there are several other home loans offered by SBI, with an aim to uplift the people from tribal and village areas of India. These schemes are in line with SBI’s commitment towards inclusive nation-building.

Here are a few such housing schemes offered by SBI-

SBI Tribal Plus

Tribal Plus housing loan from SBI is designed for applicants who are from tribal or hilly areas where mortgage of the property is difficult. The loan is extended for construction of a new house or flat and for the purchase of a new house. Under this scheme, SBI also gives an option to take a home loan for renovation or repair.


  • Min. Amount – nil
  • Max. Amount- Rs.10 lacs
  • Repayment Period – up to 15 years


As the name suggests, the Gram Niwas scheme from State Bank of India is meant for applicants from rural areas of India. This housing loan scheme is for people from rural or semi-urban regions having a population of less than 50,000 as per the 2001 census. Under this scheme, home loans can be availed for buying a piece of land or a house, renovation, and repair of house and construction of a house.


  • Min. Amount – nil
  • Max. Amount- Rs.5 lacs
  • Repayment Period – up to 15 years


Sahyog Niwas scheme of SBI provides home loans to self-help groups which have a good credit history. The bank lends to members of these groups under this scheme for purposes of buying of land or house and construction, repair or renovation.


  • Min. Amount – nil
  • Max. Amount- Rs.50,000 per person of the self-help group

SBI Home Loan FAQs

What are the various interest rates offered on home loans?
Interest rates vary based on borrowers profile being a woman or otherwise. As in November 2017, in the former case, the rate of interest is at 9.35% p.a while other customers are charged an interest rate of 9.40% p.a. These rates are irrespective of the home loan amount.

What is the processing fee charged by SBI for home loans?
SBI charges a low processing fee of up to 0.35% of the loan amount. The amount can be maximum of Rs.11,500.

Can I pay off my SBI home loan earlier than the initial tenure?
Yes. You can pre-pay your SBI home loan earlier also, without a pre-payment penalty fee.

Is there any security required by SBI for sanctioning a home loan?
Usually, the property that is being purchased through the home loan acts as a security. In some cases, the bank may ask for additional securities like insurance policies, fixed deposits etc.

Is a guarantor required to sign my loan application?
Yes. A guarantor with all the valid and required documents is needed for SBI Home Loan.

What kind of profile is eligible for SBI home loan?
You can either be a salaried employee or self-employed for getting an SBI Home Loan. However, your income should be regular and you should be able to furnish documentary proofs of the same.

Can joint-applications be made for SBI Home Loans?
Yes. Joint applicants are accepted at SBI.

Are there any tax benefits associated with SBI home loan?
Yes. Tax rebate under section 80C and 24B of the Income Tax Act is applicable.

Are long-term home loans beneficial or short-term loans?
Long-term loans are beneficial in giving you the option and comfort of lower EMIs, however, short-term loans mean higher EMIs but lesser interest. A borrower can choose the option depending upon his repayment capacity.

How long does it take for my loan to get sanctioned?
If all the required documents are in submitted at the time of application, then your SBI home loan can be sanctioned in a week’s time.

Where can I apply for SBI home loan?
SBI home loans can be applied at any of your nearest SBI branches.