Apply online for SBI Home Loan at 8.05% p.a onwards. Currently SBI is offering an interest rate waiver for digital applications. The lowest SBI Home Loan EMI is Rs 769 per Lakh for 30 years. You can instantly check the eligibility for SBI home loans up to 90% of the property value.
Following are the State Bank of India Home Loan fees & Charges:
| Loan amount | Up to 90% of Property Value |
|---|---|
| Rate of interest | 8.05% – 9.05% |
| Tenure | Up to 30 years |
| Lowest EMI possible | Rs. 769 Per Lakh |
| Processing fee | Up to 0.35% of the loan amount |
| Foreclosure Charges | Nil for floating rates |
| Penal Interest Rate | 2% per month |
Following are the common features of SBI Home Loans:
Also Check: Monetary Policy
The benefits of SBI Home Loan can be summed up as:
Also Read: 20 Lakh Home Loan
SBI Home Loans are available at interest rate starting at 8.05% p.a. The effective rate of interest depends on customer’s credit profile and repayment capacity. For example:
Furthermore, for the affordable segment i.e. home loans up to Rs 30 Lakhs, the applicant can avail of SBI Bank Home Loan up to 80-90% of property value.
Let’s walk through the Latest SBI Home Loan Interest Rates for different customer profiles:
| Credit Score | Term Loan | MaxGain |
|---|---|---|
| >=800 | 8.05% | 8.45% |
| 750-799 | 8.15% | 8.55% |
| 700-749 | 8.25% | 8.65% |
| 650-699 | 8.35% | 8.75% |
| 550-649 | 8.55% | 8.95% |
| NTC/ NO CIBIL Score | 8.25% | 8.65% |
| Credit Score | Term Loan | MaxGain |
|---|---|---|
| >=800 | 8.45% | 8.75% |
| 750-799 | 8.55% | 8.85% |
| 700-749 | 8.65% | 8.95% |
| 650-699 | 8.75% | 9.05% |
| 550-649 | 9.05% | 9.35% |
| NTC/ NO CIBIL Score | 8.65% | 8.95% |
| Credit Score | Term Loan |
|---|---|
| >=800 | 8.15% |
| 750-799 | 8.25% |
| 700-749 | 8.35% |
| 650-699 | 8.45% |
| 550-649 | 8.65% |
| NTC/ NO CIBIL Score | 8.35% |
| Credit Score | Term Loan | MaxGain |
|---|---|---|
| >=800 | 8.35% | 8.55% |
| 750-799 | 8.45% | 8.65% |
| 700-749 | 8.55% | 8.75% |
| 650-699 | 8.65% | 8.85% |
| 550-649 | 8.75% | 8.95% |
| NTC/ NO CIBIL Score | 8.55% | 8.75% |
Additional Info: Also get Canfin Home Loan
To calculate home loan EMI, use SBI Home Loan EMI Calculator. All you need to do is share loan details- loan amount, rate of interest, and loan tenure in the calculator tabs. As you submit the data, you will get EMI calculation instantly.
Use various options to reach the most affordable home loan EMI. At fastmudra Home Loan EMI Calculator you will get monthly instalment, total interest amount and total loan repayment amount along with amortisation schedule.
You can also use other financial tools like SBI interest rate calculator, SBI balance transfer calculator etc as per your requirement.
Let’s use EMI Calculator and find out EMI for SBI Home Loans with different combinations of Home Loan Amount and tenor. Below we have calculated EMI for 10 Lakh, 20 Lakh, 30 Lakh, 40 Lakh, 50 Lakh SBI Home Loans for 10, 20 & 30 years respectively.
Loan Amount10 years20 years30 years
| Rs.10 lakh | Rs.12,399 | Rs.8,678 | Rs.7,689 |
| Rs.20 lakh | Rs.24,797 | Rs.17,356 | Rs.15,378 |
| Rs.30 lakh | Rs.37,196 | Rs.26,035 | Rs.23,067 |
| Rs.40 lakh | Rs.49,594 | Rs.34,713 | Rs.30,757 |
| Rs.50 lakh | Rs.61,993 | Rs.43,391 | Rs.38,446 |
| Rs.60 lakh | Rs.74,391 | Rs.52,069 | Rs.46,135 |
*For purpose of EMI calculation, flat rate of Interest @ 8.05% p.a. is considered. The calculation is indicative only and will change as per effective rate of interest offered to you
Additional Reading: Check cibil score by pan card
| Lender | Maximum Loan Amount | Maximum Tenure | Interest Rate | Processing Fee |
|---|---|---|---|---|
| SBI Home Loan | Up to 90% of property cost | 30 years | 8.05% – 9.05% | 0.35% + GST |
| ICICI Bank Home Loan | Up to 90% of property cost | 30 years | 8.10% – 8.95% | 0.50% – 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
| HDFC Home Loan | Up to 90% of property cost | 30 years | 8.10% – 9.00% | Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes |
| Axis Bank Home Loan | Rs. 5 Crores | 30 years | 7.60% – 8.05% | Up to 1%, minimum Rs.10,000 |
| Kotak Mahindra Home Loan | 75% to 90 % of property value | 30 years | 7.99% – 8.50% | O.5% to 2.0 % + GST |
Additional Info: You can also avail Navi Home Loan
State Bank of India offers a wide range of Home Loan schemes to cater different categories of borrowers, locations & housing finance needs. Let’s take a quick sneak peek.
Also check AnyRoR Gujarat Land Record.
Key SBI Housing Loan eligibility criteria:
| Monthly Income | Home Loan Amount |
|---|---|
| Rs. 25,000 | Rs. 13,56,386 |
| Rs. 30,000 | Rs. 16,27,663 |
| Rs. 35,000 | Rs. 18,98,941 |
| Rs. 45,000 | Rs. 24,41,495 |
| Rs. 50,000 | Rs. 33,90,965 |
| Rs. 55,000 | Rs. 37,30,062 |
| Rs. 60,000 | Rs. 40,69,159 |
| Rs. 65,000 | Rs. 44,08,255 |
| Rs. 70,000 | Rs. 47,47,352 |
| Rs. 75,000 | Rs. 50,86,448 |
Non-salaried individuals comprise of two categories, self-employed professionals and self-employed non-professionals. On submission of credible and verifiable proof for sources of continuous & regular income, the business owners or self employed can apply.
The basic eligibility criteria for SBI Housing Loan for self employed include:
| Age | Eligible Tenure |
|---|---|
| 21 years to 30 years | 30 years |
| 31 years | 29 years |
| 32 years | 28 years |
| 33 years | 27 years |
| 34 years | 26 years |
| 35 years | 25 years |
| 36 years | 24 years |
| 37 years | 23 years |
| 38 years | 22 years |
| 39 years | 21 years |
| 40 years | 20 years |
| 41 years | 19 years |
| 42 years | 18 years |
| 43 years | 17 years |
| 44 years | 16 years |
| 45 years | 15 years |
Additional Info: How to get Bajaj Finserv Home Loan
Below is the list of Documents Required for SBI Home Loan:
Additional Reading: Check cibil score for home loan
Processing fees:SBI Housing Loan Processing Fees is waived off till August 31. Earlier SBI loan processing fee was 0.4% of the loan amount, subject to minimum of Rs 10000.
Pre-Sanction-
Post-Sanction-
Check for 50 lakh home loan EMI and apply easily on fastmudra.
Pradhan Mantri Awas Yojana (PMAY) is the housing credit subsidy scheme supported by the central government. The scheme was launched in 2005 and strives to provide credit linked subsidy benefit to build first own pucca house for people belonging to economically weaker sections, low income groups and middle income people of the country till 2022. Under PMAY till December 2020, the SBI has issued nearly Rs. 2 lakh Home Loans. As per government, more than Rs. 73 lakh houses have been grounded and nearly Rs. 43 lakh have been completed under this scheme. The last data for PMAY 2021 is March 30, 2022 for LIG & EWS categories.
SBI Customer Care number: 1800 11 2018 (Toll Free)
Address:
Real Estate and Housing Business Unit, State Bank of India, Corporate Centre, Madame Cama Road, State Bank Bhavan, Nariman Point, Mumbai 400021, Maharashtra. In case of complaints – email to homeloan.complaints@sbi.co.in
Additional Info: ICICI Bank Home Loan Customer Care Number
Home loan interest rates are the lowest ever in the past 15 years. With raining festival offers on home loan, currently you can avail of the best interest rate on Bajaj Finserv home loan @7.70% p.a for all loan amounts.
You can avail the lowest Home Loan EMI at Rs. 727/- per lakh with maximum repayment flexibility. Some options are Step-Up EMIs, Step Down EMIs, Moratorium, OD facility, balance transfer, top up and more.
Home Loans at floating interest rate (linked to repo rate) offer you ultimate prepayment flexibility. There is no part or full prepayment charge. You can prepay early & reduce interest cost as per your cash flows.
