SBI Home Loan Interest Rate

With low home loan interest rates, SBI has become the most prominent mortgage provider in India and has helped over 30 lakh families realize their dream of owning a home. One of the best features of SBI home loans is their interest rate. The bank designs a variety of home loan schemes for different borrowers to help them achieve their financial requirements. SBI bank loan interest rates start from as low as 8.50% and may go up to 10.15% per annum. 


SBI Bank Home Loan EMI Calculator

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SBI Home Loan Key Highlights

Amount of Loan Up to 90% of property value
Rate of Interest 8.50% - 10.15%
Processing Fees

A maximum of 0.35% of the loan amount that has been sanctioned. The maximum amount in this case can be Rs. 10,000

Max Tenure for Loan Repayment 30 years

SBI Home Loan Interest Rates in 2024

SBI home loan interest rate 2024 starts from 8.50% per annum (p.a.) and can go up to 10.15% p.a. These are floating rate packages. The interest rates are pegged to a floating interest rate card that presently stands at 8.85% p.a. at its lowest. As per the rules and regulations of the RBI, women who take a home loan from SBI stand to gain a concession of 5 basis points (bps), but this is subject to the minimum External Benchmark Lending Rate (EBLR). The following table showcases the SBI home loan rate of interest 2023 for its various offerings: 

Loan Category Rate of Interest on Home Loan
Regular home loan 8.40% to 10.15% p.a. 
Top-up loan 9.10% to 9.30% p.a. 
Tribal Plus loan 9.25% to 9.45% p.a. 
CRE Home Loan 9.35% to 9.85% p.a. 
Realty Loan 9.45% to 9.85% p.a. 
P-LAP loan 10.90% to 11.30% p.a. 
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Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants

SBI Home Loan Interest Rates for All Schemes in India

SBI offers a wide range of home loans, which are enumerated below:

  • SBI Regular Home Loan
  • SBI Tribal Plus
  • SBI Flexipay Home Loan
  • SBI Home Loan for Non-Salaried Differential Offerings 
  • SBI Pre-Approved Home Loan 
  • SBI Earnest Money Deposit 
  • SBI Realty Home Loan
  • SBI CRE Home Loan
  • SBI Suraksha 

In each of these loans, women borrowers are eligible to gain a concession of 5% bps on their interest rates depending on the minimum EBLR at the time. It may also considerably depend on your credit score. Following is a brief representation of how your credit score affects the interest rates charged in this case:

  • CIBIL Score of 800 – Rate of Interest at 9.15% 
  • CIBIL Score of 750-799 – Rate of Interest at 9.25%
  • CIBIL Score of 700-749 – Rate of Interest at 9.35%
  • CIBIL Score of 650-699 – Rate of Interest at 9.45% 
  • CIBIL Score of 550-649 – Rate of Interest at 9.65%

SBI Home Loan Schemes Rates of Interest for Each Plan
SBI Regular Home Loan

9.15% - 9.65% p.a.

SBI Tribal Plus

9.25% - 9.75% p.a.

SBI Realty Home Loan 9.45% - 9.85% p.a. 
Commercial Real Estate (CRE) Home Loan

9.35% - 9.85% p.a.

Top-up Loan

9.55% - 10.15% p.a.

Loan Against Property

10.90% - 11.30% p.a.


SBI Home Loan Interest Rates for Balance Transfer, Top Up, and Overdraft

SBI provides its customers with three distinct privileges aimed at enhancing the convenience of housing finance. These privileges are elaborated as follows:

SBI Home Loan Balance Transfer

Managing your finances can be challenging, which is why SBI offers you the opportunity to lighten your financial burden. With their home loan balance transfer option, you can now repay your loans at more affordable interest rates. Even if you currently hold a loan with another bank, you can easily transfer your outstanding home loan to SBI, where you'll benefit from lower interest rates. This means reduced EMIs and a lighter financial load. SBI’s home loan interest rates for balance transfers are competitive, ranging between 8.40% and 10.15% per annum. 

SBI Home Loan Top Up

SBI offers two top-up home loan options for its customers – SBI Top-up Home Loan and SBI YONO Insta Home Top-up Loan. The Top-Up Home Loan is provided to existing borrowers whereby they can avail of some extra loan amount on top of the home loan they already have. The money taken from such a loan can be put to personal usage as well. This loan has a tenure of up to 30 years. The processing fee for the loan is 0.17%. It is estimated that it can be anywhere between Rs. 2000 and Rs. 5000. SBI home loan top-up interest rate ranges between 9.85% and 10.05% p.a., depending on your credit score.

YONO Insta Home Top-Up Loan is available to select borrowers who already have a home loan with SBI, and the money is to be used for meeting personal requirements. The home loan, in this case, is offered on the SBI YONO app via a digital process. 

SBI Home Loan Overdraft Option

As per the rules and regulations governing the SBI home loan overdraft facility, the interest rates tend to vary depending on your credit score. The latest rates in this case may be furnished on a per annum basis as below:

  • Credit Score of 750 – Rate of Interest at 9.85% 
  • Credit Score of 700 – 749 – Rate of Interest at 10.05% 
  • Credit Score of 650 – 699 – Rate of Interest at 10.15%
  • Credit Score of 550 – 649 – Rate of Interest at 10.45%

If you do not have a CIBIL score, you would need to pay an interest rate of 10.05% on the loan amount. 

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Compare SBI Home Loan Interest Rate with Top Banks

The home loan rates offered by SBI compare favorably with all the other leading lenders in India. The same applies to its processing fees as well. It is always recommended to do your homework before applying for a home loan to make the best-informed decision, thus the comparative analysis done below, should be helpful:

Bank/NBFC Rate of Interest on Home Loan Processing Fee
SBI Bank 8.40% p.a. onwards 0.35% of loan amount + applicable GST
Axis Home Loan 9% - 14% p.a. Up to 0.50% + GST
ICICI Bank Home Loan 9.00% - 10.05% p.a. The higher amount between 0.50% and 2% and Rs. 1500 + GST. In the case of borrowers in Mumbai, Bangalore, and Delhi, the fee is Rs. 2000
HDFC Home Loan 8.50% - 9.40% p.a. The higher amount between Rs. 4500 and a maximum of 1.50% + applicable taxes
Kotak Mahindra Home Loan 8.75% - 9.60% p.a. 0.5% - 2.0% + GST
IDFC Bank 8.75% p.a.onwards 1.5% of loan amount

SBI Home Loan Balance Transfer Interest Rates

When considering a home loan balance transfer from SBI, you'll discover a range of enticing features. SBI offers competitive interest rates, making it an appealing choice. Notably, the interest charges are calculated on a daily reducing balance, ensuring transparency and potentially reducing your interest costs over time. 

To be eligible for an SBI home loan balance transfer, you need to be an Indian resident aged between 18 and 70 years. Your eligibility will also be influenced by the requested loan amount. Interest rates for SBI's home loan transfer can vary between 8.40% - 10.15% based on the type of loan you select and your CIBIL score.

The easiest way to apply for a SBI balance transfer process is as follows:

  1. On the BASIC Home Loan website, go to the Repay Right section - Repay Right
  2. Fill out the form with all the requisite details on the current outstanding loan amount, existing rate of interest per annum, new rate of interest per annum, existing loan repayment tenure, and existing EMI paid on the loan amount. 
  3. Click on Next after completing the form.
  4. You will be able to see the total savings with the SBI Home Loan Balance Transfer option on the next page.
  5. Alternatively, you can get in touch with one of the team representatives of BASIC Home Loan, who can help maximize your savings with SBI Balance Transfer on home loans. 

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How to Calculate SBI Home Loan Interest Rates?

One of the most convenient ways to calculate your SBI home loan EMI is to use the online calculator at EMI. You can plan your monthly budget efficiently by using the calculator. It also shows the total interest payable with each option, thereby helping you save money in the long term. 

SBI Home Loan EMI Calculator 2024

Loan Amount Rate of Interest EMI for 10-Year Loan Tenure EMI for 20-Year Loan Tenure EMI for 30-Year Loan Tenure
Rs. 10 lakh 8.40% p.a. Rs. 12,345 Rs. 8,615 Rs. 7,618
Rs. 20 lakh 8.40% p.a. Rs. 24,690 Rs. 17,230 Rs. 15,237
Rs. 30 lakh 8.40% p.a. Rs. 37,035 Rs. 25,845 Rs. 22,855
Rs. 40 lakh 8.40% p.a. Rs. 49,381 Rs. 34,460 Rs. 30,474
Rs. 50 lakh 8.40% p.a. Rs. 61,726 Rs. 43,075 Rs. 38,092
Rs. 60 lakh 8.40% p.a. Rs. 74,071 Rs. 51,690 Rs. 45,710
Rs. 70 lakh 8.40% p.a. Rs. 86,416 Rs. 60,305 Rs. 53,329
Rs. 80 lakh 8.40% p.a. Rs. 98,761 Rs. 68,920 Rs. 60,947
Rs. 90 lakh 8.40% p.a. Rs. 1,11,106 Rs. 77,535 Rs. 68,565
Rs. 1 crore 8.40% p.a. Rs. 1,23,452 Rs. 86,150 Rs. 76,184

Kindly note that the figures in the above-mentioned table are calculated based on the lowest rate of 8.40% offered by SBI Bank on its home loans. This amount may change depending on factors such as interest rate, repayment tenure, and your monthly income.


At present, the interest rates on the repayment of SBI home loans are between 8.40% and 10.15%. 

SBI provides you with both floating and fixed interest rates on home loans. 

Yes, you can make prepayments on the EMIs that you pay on your SBI home loans without incurring any financial penalty for the same. However, please remember that prepayment options in this case may vary from one scheme to another.  

Women who avail of a home loan from SBI can gain a concession of 5 bps on their interest rate, subject to the minimum EBLR applicable at that time.

There are two ways to lower your SBI home loan. First, you may choose to go for a longer tenure of repayment. Alternatively, you may try increasing your credit score before applying for the loan. 

The home loan interest rate of SBI changes depending on the latest repo rate issued by the RBI. This only happens on the first days of the calendar quarters. 

If you have a low credit score or no credit score at all, you can expect your SBI home loan interest rate to be higher than that payable by others with a better credit score for the same loan amount.

You can migrate to a new interest rate structure when the opportunity arises if you have availed of an SBI home loan on a floating rate and if your account conduct is regular on the date that you intend to switch over.