SBI Bank Home Loan

SBI is one of India's most trusted public sector banks with a long-standing history. The competitive interest rates starting at 8.75% per annum, diverse home loan products, flexible repayment options, 30 years of repayment tenure, and responsive customer service make SBI home loans popular among borrowers. Over 30 lakh families have achieved their dream of owning a home through SBI housing loans that come with a processing fee of Rs. 10,000 to 0.25%. SBI offers exclusive concessions on interest rates for females, defence personnel, and tribal people through its various home loan schemes that are all available on a floating rate basis.

SBI Bank Home Loan EMI Calculator

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1 Lac10 cr

Break up of Total Payment

Your monthly EMI is

Total Amount Payable

  • Principal Amount

  • Total Interest

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SBI Bank Home Loan Key Highlights

Get the lowest interest rates with SBI Bank

Loan Amount Up to 90% of the cost of property
Rate of Interest 8.50% p.a. onwards
RPLR 14.85%
Processing Fee


Maximum Tenure for Repayment 30 years
Penal Rate of Interest 2% per annum for loans above Rs. 25,000
Rate Packages Floating
Charges for Prepayment/Foreclosure Nil

SBI Home Loan Interest Rates in 2024

SBI home loan interest rate starts from 8.50% onwards and largely depends on the credit score and the type of plan chosen by the applicant. The table below lists the SBI home loan interest rate 2024 for all the popular plans based on the CIBIL score:

Loan Slab Interest Rate for Home Loan
SBI Regular Home Loan 9.15% - 9.75% 
SBI Tribal Plus Home Loan 9.25% - 9.75% 
SBI Top-Up Home Loan 9.55% - 10.45% 
SBI Realty Home Loan 9.45% - 10.05% 
SBI CRE Home Loan 9.35% - 10.15% 
SBI P-LAP Home Loan 10.90% - 11.30% 

Interest rates were last updated on 6th May 2024

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SBI Bank Home Loan Eligibility Criteria

SBI bank offers multiple types of home loan facilities to resident Indians and NRIs based on their age, nationality, credit score, and income source. You can check the same using the SBI home loan eligibility calculator on BASIC home loan.

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 18 - 75 years 18 - 75 years
Nationality Indian Resident/ NRIs/ PIOs Indian Resident/ NRIs/ PIOs
Minimum Income Earned Rs. 25,000 per month Rs. 25,000 per month

SBI Home Loan Processing Fee and Charges

SBI bank charges a fee to process the customer's home loan application, termed the processing fee. Besides the SBI home loan processing fee, there are other charges subject to charge by the bank for different home loan products.

Processing Fee

INR 10,000 to 0.35%

ECS Dishonour Charges

Rs. 250

Late EMI Payment Charges

2% per annum for loans above Rs. 25,000

Statutory Charges

As per state-applicable laws

Cheque Bounce Charges

Rs. 250 for every bounced payment

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SBI Home Loan Schemes and Top Plans

SBI bank offers a variety of home loan plans to choose from. Evaluate the considering factors like interest rates, processing fees, tenure, and other hidden charges before choosing an SBI bank home loan plan.

Here is the list of the top SBI home loan schemes and plans that are popular among SBI customers:

1. SBI Regular Home Loans

  • Repayment tenure extendable up to 30 years
  • Interest rate 0.05% lower for women applicants
  • No charges on pre-payments
  • Interest rates are 9.15% per annum onwards

2. SBI NRI Home Loans

  • Offered exclusively to Non-Resident Indians to purchase a home in India
  • Special discount for women applicants
  • Comes with no extra fee or interest rates if compared with a regular SBI home loan
  • Interest rates are 9.15% per annum onwards

3. SBI Realty Home Loans

  • Aims to promote the purchase of a plot that can be later on developed into a home
  • Flexible option to take a separate SBI bank home loan for the real construction
  • Borrowing limit of up to Rs. 15 crore for 10 years repayment tenure period
  • Interest rates are 9.45% per annum onwards

4. SBI Pre-Approved Home Loans

  • Enables home buyers to negotiate with the builder confidently
  • Comes with no hidden charges
  • Interest rates are 10.90% per annum onwards

5. SBI Privilege Home Loans

  • Exclusively offered for government employees
  • Special concessions for women borrowers
  • Repayment tenure up to 30 years
  • Interest rates are 9.15% per annum onwards

6. SBI Shaurya Home Loans

  • Exclusively for defence personnel belonging to the army, navy, and air force
  • No prepayment penalties
  • Repayment tenure up to the age of 75 years
  • Interest rates are 9.15% per annum onwards

7. SBI Flexipay Home Loans

  • Helps borrowers with their initial years of low repayment burden
  • Easy eligibility criteria for the young professionals
  • Flexible option to set up EMIs in the coming years
  • Interest rates are 8.85% per annum onwards

8. SBI Tribal Home Loans

  • Offered Especially to people residing in tribal or hilly areas
  • Maximum tenure for repayment is 15 years
  • No need for a land mortgage, as a third-party guarantor, is permitted
  • Interest rates are 9.25% per annum onwards

9. SBI Home Loans for Non-Salaried-Differential Offerings

  • Loans offered between Rs. 50,000 – Rs. 50 crore
  • Offered to partners, directors of companies, and proprietors
  • Designed for individuals who do not earn a fixed monthly salary but have an income
  • Interest rates are 8.85% per annum onwards

10. SBI Top-Up Home Loans

  • Offered to those who already have an existing SBI home loan and want additional funds
  • No pre-payment penalty
  • Repayment tenure up to 30 years
  • Interest rates are 9.55% per annum onwards

Note: All of the above home loan plans are made available to applicants solely at the discretion of SBI Bank, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required for SBI Home Loan

It is mandatory for a home loan applicant to submit a set of specific documents to apply for an SBI home loan. Here is a list of all the required SBI home loan documents that an applicant needs to submit while applying for a home loan from SBI:

Documents Required for Salaried Applicants

Proof of Income
  • Salary slip/ certificate for last 3 months
  • Copy of Form 16 acknowledged by the IT Department
Other Required Documents
  • Duly filled application form with passport-size photographs
  • A cheque for the processing fee payable in the name of SBI Home Loan

Documents Required for Self-Employed Applicants

Proof of Income
  • ITR for the last 3 years
  • TDS Certificate/ Form 16
  • Profit and loss balance sheet for last 3 years
Other Required Documents
  • Duly filled application form with passport-size photographs
  • A cheque for the processing fee payable in the name of SBI Home Loan
  • Proof of Business Address
  • Business License Details
  • Qualification Certificate for Doctors, C.A. and other professionals

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport

Documents Related to Property
  • Sale Agreement, Stamped Sale Agreement, Allotment Letter
  • Certificate of Occupancy, electricity bill, maintenance bill, property tax receipt
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Conveyance Deed
  • Registered Development Agreement of the builder
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Apply for Home Loan Through BASIC Home Loan

Applying for an SBI home loan is a straightforward procedure. SBI home loan application can be done in the following way:

  • Visit the official website of BASIC Home Loan
  • Go to the ‘Home Loan’ tab on the home page and click on ‘Learn More’
  • Select SBI Home Loans from the list of loan providers displayed on the page and click on ‘Get Started’ against it
  • Follow the easy instructions displayed on the page and apply for an SBI bank home loan through BASIC

Find SBI Home Loan Offices Near You

SBI has a vast network of over 16,000+ home loan branches across the country. You can easily search online for an SBI home loan branch near me or fill in the Free Consultation Form, and the BASIC Home Loan team will assist you in applying for an SBI bank home loan.


Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.


The current SBI home loan interest rate is 8.75% - 9.75% per annum, which varies for different types of SBI home loan plans.

SBI bank offers up to Rs. 15 crores as the maximum loan amount limit for a customer, and this comes with a repayment tenure of 10 years. 

Try the following tips to reduce your SBI home loan interest rate:

  • Opt for a shorter tenure
  • Pay maximum as a down payment
  • Prepaying is a good way to reduce the rate
  • Try to increase your EMI
  • Compare interest rates 

A borrower can get up to 90% of the property value as a home loan from SBI. However, this depends on the salary or income of the borrower, along with the repaying capacity.

SBI bank offers home loans with floating interest rate packages. At present, these start at 8.75% per annum.

The best SBI home loan schemes based on the interest rate are:

  • SBI Pre-Approved Home Loans
  • SBI Realty Home Loans
  • SBI Top-Up Home Loans
  • SBI Flexipay Home Loans
  • SBI Tribal Plus Home Loans

The maximum repayment tenure for an SBI home loan is up to 30 years; however, this may reduce for some specific home loan plans.

The minimum salary requirement to apply for an SBI home loan is Rs. 1,80,000 per annum or Rs. 25,000 per month.

The minimum CIBIL score for an SBI home loan is 650.

For salaried individuals applying for an SBI home loan, the minimum work experience required is 2 years.