SBI Home Loan

State Bank of India offers better interest rates on home loans starting at 6.65% p.a.The loan tenure can be extended up to 30 years, ensuring a convenient repayment period. The processing fee on these loans is 0.35% of the loan amount (Min. Rs.2,000; Max. Rs.10,000) plus applicable taxes.

Women borrowers are also offered an interest concession of 0.05% on SBI Home Loans. No hidden charges and a full waiver of prepayment charges make them one of the most preferred housing loan products in the country.

SBI Home Loan Details

Interest Rate6.65% p.a. – 7.15% p.a.
Loan AmountBased on eligibility
Processing Fees0.35% – 1% of loan amount
Prepayment/Foreclosure ChargesNil
Max Tenure30 Years
Rate Packages AvailableFloating

SBI Home Loan Interest Rates 2022

SBI offers floating-rate packages on their home loans. SBI interest rates are linked to floating interest card rate which currently stands lowest at 6.70% p.a. (Updated on 05 May 2022). The rates vary based on employment type: salaried or self-employed.

SBI Home Loan SchemesInterest Rate for SalariedInterest Rate for Self-Employed
SBI Home Loans (Term Loan) 6.65% to 7.15% p.a.6.70% – 7.50% p.a.
SBI MaxGain (Floating Interest Card Rate)7.05% to 7.55% p.a7.45% p.a.
SBI Insta Home Top Up Loan7.25% p.a.8.20% p.a.
SBI Home Top Up Loan (Term Loan)7.05% to 7.65% p.a7.65% p.a. onwards
SBI Home Top Up Loan (Overdraft)7.35% to 7.95% p.a.8.55% p.a. onwards
SBI Smart Home Top-Up Loan (Term Loan)7.25% p.a.8.55% p.a. onwards
SBI Smart Home Top-Up Loan (Overdraft)7.65% p.a.9.05% p.a.
SBI CRE Home Loan6.85% to 7.05% p.a– 
SBI Tribal Plus/CRGFT6.85% to 7.05% p.a– 
SBI Reverse Mortgage Loan9.05% p.a– 
SBI Realty7.65% p.a. onwards– 
SBI Earnest Money Deposit10.45% p.a

*Includes Flexipay, NRI home loan, home loans to non-salaried – differential offering, privilege, Shaurya and Apon Ghar.

*Interest rate is floating and linked to Repo Rate.

SBI Home Loan EMI Calculator

Before taking a home loan from SBI, it’d be a good idea to check whether you will be able to pay the monthly instalments. The easiest way to do this is to use Home Loan Calculator. Just enter the proposed loan amount, the tenure of the loan, the interest rate the bank is offering you, and the processing fee. Not entering the processing fee will not affect your results, but the other 3 inputs are mandatory to get precise results.SBI Home Loan EMI Calculation

Amount10 years20 years30 years
Rs.10 lakhRs.11,508Rs.7,633Rs.6,519
Rs.20 lakhRs.23,016Rs.15,267Rs.13,039
Rs.40 lakhRs.46,032Rs.30,534Rs.26,077
Rs.50 lakhRs.57,540Rs.38,167Rs.32,596

*Interest rate of 6.70% p.a. has been taken into consideration for this loan EMI illustration. However, the final rate offered is solely at the discretion of the bank. Your final EMI amount can vary based on the rate offered to you by the bank.

SBI Home Loan Schemes

  1. SBI Regular Home Loan
    • Interest rate: 6.70% p.a. onwards
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • 0.05% lower interest rate for women
    • Zero charges on pre-payments
    • Available for applicants aged between 18 and 70
  2. SBI Flexipay Home Loan
    • Interest rate: Based on the credit score of the customer
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • Choice to repay just the interest component during the pre-EMI period
    • Step-up EMIs in the following years
    • 20% improvement in home loan eligibility for younger professionals
  3. SBI Tribal Plus
    • Interest rate: 6.75% p.a onwards.
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • Specially for people living in tribal areas or hilly areas
    • Repayment tenure of a maximum of 15 years
    • Land mortgage not required; third-party guarantor allowed
  4. SBI Home Loan to Non-Salaried Differential offerings
    • Interest rate (Male): 7.15% onwards
    • Interest rate (Female): 7.10% onwards
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • Exclusive scheme for individuals who have an income but do not earn a monthly salary
    • Special offers on loans for buying a new residential unit, constructing a house, renovating or repairing your house, or transferring your loan from another bank
    • Available for proprietors, partners, and directors of companies as well
  5. SBI Pre-Approved Home Loan (PAL)
    • Interest rate (Salaried male): 7.00% onwards
    • Interest rate (Salaried female): 6.95% onwards
    • Interest rate (Non-salaried male): 7.15% onwards
    • Interest rate (Non-salaried female): 7.10% onwards
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • Loan sanctioned before a property is finalised
    • Gives you more negotiating power with the seller or builder
    • Benefits similar to that of the SBI Regular Home Loan
  6. SBI Bridge Home Loan
    • Interest rate (For 1st Year): 9.50%
    • Interest rate (For 2nd Year): 10.50%
    • Processing fee: 0.35% of the loan amount (min. Rs.5,000)
    • Meant for people who are selling one property and buying another
    • Helps cover for lack of funds in buying a new house while you’re waiting for the sales proceeds of your existing property
    • Repayment tenure of up to 2 years
  7. SBI Earnest Money Deposit (EMD)
    • Interest rate: 10.45%
    • Processing fee: 0.5% of the loan (min. Rs.1,000)
    • Funds to pay the advance amount for booking a house or plot
    • Can only be taken to pay booking amount for houses/plots sold by urban development authorities, housing boards, and other government entities
    • Short-term loans of 1 year
  8. SBI NRI Home Loan
    • Interest rate (Salaried male): 7.00% onwards
    • Interest rate (Salaried female): 6.95% onwards
    • Interest rate (Non-salaried male): 7.15% onwards
    • Interest rate (Non-salaried female): 7.10% onwards
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • Specifically for Non-Resident Indians (NRIs) to buy a house in India
    • Discount on interest rate for women applicants
    • No extra fees or interest rates when compared with Regular Home Loan
  9. SBI Realty Home Loan
    • Interest rate (Male): 7.70% to 7.90%
    • Interest rate (Female): 7.65% to 7.85%
    • Processing fee: 0.35% of the loan amount (min. Rs.2,000; max. Rs.10,000)
    • Meant for purchase of a plot of land to construct your own house
    • Borrowing limit of up to Rs.15 crore with repayment tenures of up to 10 years
    • Option to take a separate SBI home loan for the actual construction
  10. SBI Corporate Home Loan
    • Processing fee: 0.5% of the loan amount (min. Rs.50,000; max. Rs.10 lakh)
    • Exclusively for corporates to construct or buy houses for their employees
    • Available for both public limited and private companies
    • Also available for balance transfer of housing loans from one bank to another in the name of a company
  11. SBI Commercial Real Estate (CRE) Home Loan
    • Interest rate: 50 bps above Home Loan interest rate (For All)
    • Processing fee: 0.35% of the loan amount (min. Rs.5,000)
    • Curated scheme for people who already own 2 or more houses and want to buy more
    • Max. 3 houses can be bought under this scheme
    • Benefits such as lower interest rate for women and overdraft facility available
  12. SBI Reverse Mortgage Loan
    • Interest rate (SBI Pensioners): 8.05%
    • Interest rate (Others): 9.05%
    • Processing fee: 0.50% of the loan amount (min. Rs.2,000; max. Rs.20,000)
    • Specifically for senior citizens with a property owned or occupied by them
    • Helps generate or supplement income after retirement
    • Loan need not be repaid during the borrower’s lifetime
  13. SBI Pradhan Mantri Awas Yojana Subsidy Scheme:If you meet the eligibility criteria of PMAY, then you can apply for it through SBI’s home loans such as the Regular Home Loan, Flexipay Home Loan, Privilege Home Loan, and others. Check with the bank whether you can apply for PMAY on your existing or new home loan.Pradhan Mantri Awas Yojana can help you save money on your first house. Under the scheme, you can get subsidy of up to Rs.2.67 lakh. The subsidy is available to individuals earning up to Rs.18 lakh per year. The maximum loan tenure can be 20 years.
  14. SBI SurakhshaState Bank of India’s SBI Suraksha is a life insurance policy linked to the bank’s home loan. The premium of this life insurance policy is paid by the bank. The repayment duration is the same as the tenure of the home loan as Equated Monthly Instalments (EMI). This is available to new home loan customers and also to existing home loan customers who have chosen the SBI Life Cover.

Other Housing Loans Offered by State Bank of India

  • SBI Home Top Up Loan:Additional loan amount over the existing home loan. Interest rates range from EBR + 85 bps to 290 bps.
  • SBI Smart Home Top Up Loan:Top-up on home loans by just visiting the closest branch or RACPC (Retail Assets Central Processing Centre). Interest rates range from EBR + 140 bps to 240 bps.
  • SBI Insta Home Top-Up Loan:Home loan top-ups through net banking available for selected customers. Interest rates range from 155 bps above EBR.
  • SBI Maxgain:Overdraft version of home loans instead of a term loan; allows you to repay through EMIs, with overdraft drawing power reducing with each payment.
  • SBI Green Home Loan:Perks for individuals who buy “green homes” in projects that use renewable energy and have low carbon emissions.
  • SBI Pre-EMI Interest by Builders Scheme:Builders registered under the bank’s Builder Tie Up arrangement pay the buyer’s pre-EMIs at a fixed interest rate.

SBI Home Loan Eligibility Requirements

The loan eligibility criteria for SBI home loans is as given below:

  • Eligible Age: Minimum: 18; Maximum: 70
  • Nationality: Resident and Non-resident Indian

Documents Required for SBI Home Loan Application

General for all applicants:

  • Duly filled in loan application form
  • Three passport-size photographs
  • Proof of Residence (one): Latest utility bill or copy of Aadhaar card, driving licence, or passport Proof of identity (one): Voter ID card, PAN, driver’s licence, or passport
  • Employer identity card

Proof of income for salaried applicant/guarantor/co-applicant:

  • Salary certificate or salary slips of the previous three months
  • Copy of IT Returns of the previous two financial years or
  • Copy of Form 16 of the previous two years

Proof of income for non-salaried applicant/guarantor/co-applicant:

  • IT returns of the previous three years
  • Balance Sheet of the previous three years
  • Profit & Loss account of the previous three years
  • Details of business license or equivalent
  • Form 16A or TDS certificate, if applicable
  • For professionals: Certificate of qualification
  • Proof of business address

Account statement:

  • Bank account statements of the previous six months for all bank accounts held by applicant
  • Loan account statement of the previous one year if another loan is currently active

Property papers:

  • Copy of approved blueprint
  • Occupancy Certificate (for ready-to-move property)
  • Conveyance Deed (For New Property)
  • Permission for construction (where applicable)
  • Stamped Agreement for Sale or Allotment Letter Maintenance bill
  • Electricity bill
  • Property tax receipt
  • Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)
  • Bank account statements or payment receipts of payments to seller or builder
  • Registered Agreement for Sale (for Maharashtra)
  • Share Certificate (for Maharashtra)

How to Apply for SBI Home Loan

You can apply for a home loan from SBI in two simple ways:

  1. Offline: Visit the nearest branch of the bank with all the required documents, request the application form, fill it in correctly, and submit it to the bank official.
  2. Online: Visit the official website of SBI and apply online leaving your contact details on the application form. You will receive a call back from the bank’s representative.

SBI Home Loan Customer Care

You can contact SBI home loan customer care through the following ways:

Toll-free number: 1800-11-2018

Postal Address:Real Estate and Housing Business Unit,
State Bank of India, Corporate Center
Madame Cama Road,
State Bank Bhavan, Nariman Point,


When does the interest rate of SBI home loans change?

Subsequent to any change in the repo rate of the Reserve Bank of India, SBI’s home loan interest rates change on the first day of the calendar quarter.

For SBI balance transfer loans, is the pre-payment penalty also included?

Yes, the prepayment penalty will be funded in the SBI balance transfer loans but the total loan amount will be subject to the eligibility as per the relevant SBI home loan scheme.

What are the processing fees for SBI home loans?

SBI home loans have a consolidated processing fee which is 0.40% of the loan amount plus the applicable GST. The minimum amount is Rs.10,000 plus GST while the maximum amount is Rs.30,000 plus GST.

Does SBI give pre-approved home loans?

Yes, SBI does give pre-approved home loans for which you can contact the bank for more details.

Does SBI home loan take the salary of the spouse into consideration?

If the spouse is the co-owner of the property that is being bought with the loan, or is a guarantor of the loan, then the salary of the spouse is taken into account when determining the loan amount.