SBI Home Loan

The State Bank of India is the largest public sector bank of the country. It offers a wide range of credit options including home loans at highly competitive rates with flexible loan repayment terms. You can check out the eligibility criteria and apply for a home loan on SBI’s online platform.

✓ Home Loan from ₹2 Lakhs To ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.50%

Disclaimer: Please note that SBI is not a Bajaj Markets partner. Offers would be only from partner banks and NBFCs.

SBI Home Loan Details

Interest Rate

8.05% p.a. onwards

Loan Amount

Up to 90% of Property Value

Processing Fee

0.35% of Loan Amount

Prepayment/Foreclosure Charges 


Max Tenure

30 years

 Disclaimer: It is advised to cross-check these details with the lender before applying for a loan as the charges are subject to change.

SBI Home Loan Interest Rates 

The SBI home loan interest varies based on the credit score of the customer. Moreover, according to the RBI, the interest rate external benchmark (EBLR) can be reset by the bank as per the extant guidelines of the bank. Here’s an indicative list of the SBI loan interest rate for home loans:


Term Loan (p.a.)

Maxgain (p.a.)
















NTC/No CIBIL Score/-1



Note: The interest rate varies depending on bank’s/NBFC’s policy) 

Also check: Home loan interest rate in detail. 

SBI Home Loan Processing Fees and Charges

The SBI home loan can be availed with lesser fees and charges than the industry standard. There is no processing fee on approved projects. Here are the charges:

Processing Fees

0.35% of the loan amount (Rs 2,000-Rs 10,000)

(50% waiver in basic processing fee)

Pre-payment Charges


CERSAI Charges

Up to Rs.5 Lakhs- Rs.50 

Above Rs.5 Lakhs-Rs.100

SBI Home Loan Eligibility

SBI home loan eligibility calculator can help you get a picture of whether you are eligible for a home loan, the interest rate you expect and the tenure over which you can repay your loan. Here are some of factors that affect your eligibility:


For salaried as well as self-employed customers:

  • You should hold a citizenship of India

  • You should be between 18 and 70 years of age

Also Check: Home Loan Eligibility Criteria in Details

SBI Home Loan EMI Calculator

Using the SBI home loan interest rate at which you are being offered the loan, you can calculate the monthly installments you will have to incur to pay off your home loan. You can manually calculate the EMI amount to be paid, or you can simply use the SBI home loan EMI calculator to arrive at this figure.  An interest rate calculator can help calculate your dues accurately, swiftly, automatically and without any room for error.

** The above charges are excluding taxes
* Placeholder for disclaimers on Interest and Charges page
 **These are indicative and subject to change at the discretion of lender/ without prior notice.

You need to know the tenure, principal amount and interest rate to arrive at a conclusion. Here’s a snapshot of EMIs to be paid at varying tenures at an interest rate of 8.05% p.a. The actual interest, however, will vary depending on the borrower’s credit score:

Principal amount

10 years

20 years

30 years

Rs.10 Lakhs




Rs.20 Lakhs




Rs.40 Lakhs




Rs.50 Lakhs




Also Check: Home Loan EMI Calculator to calculate monthly EMI for different tenures.

How Can the SBI Home Loan EMI Calculator be Beneficial

The SBI home loan EMI calculator can be quite beneficial if you are planning to get a home loan. Here are the advantages of a home loan calculator: 

  • This tool helps in accurate calculation and avoids errors associated with manual calculations.  Moreover, manual calculation can be tedious and complicated tasks.

  • It is a free tool and you can access it any time anywhere with just a few clicks. You simply need to have a smart device and a stable internet.

  • You can get a clear idea of the loan affordability and make a clear repayment plan so that you can pay the loan comfortably without straining finances. 

  • You can compare the EMI amount of home loans from different lenders and choose one as per your financial requirement and capability.

  • If you use an online home loan calculator, you can get access to the amortization schedule. 

Comparison of SBI Home Loan EMI with Other Popular Banks

Here is a comparison of interest rate of various lenders in the market: 


Interest up to Rs. 30 Lakhs

Interest more than Rs. 30 Lakhs till Rs. 75 Lakhs

More than Rs. 75 Lakhs


8.75% to 9.50%

8.75% to 9.40%

8.75% to 9.40%


8.75% to 9.85%

8.75% to 9.85%

8.75% to 9.85%

Punjab National Bank

8.25% to 9.00%

8.25% to 9.00%

8.25% to 8.90%

IDFC First Bank

8.75% and more

8.75% and more

8.75% and more

Bajaj Housing Finance

8.30% and more

8.30% and more

8.30% and more

Disclaimer: It is advised to cross-check these details with the lender before applying for a loan as interest rates and charges are subject to change.

How to Apply for SBI Home Loan Online

Here are the steps to apply for an SBI home online:

  • Step 1: Search for the SBI home loan you wish to apply for on a loan aggregator.

  • Step 2: Click on apply.

  • Step 3: Fill out the application form with necessary details like name, pincode, phone number and the desired loan amount.

  • Step 4: Click on ‘Request Quote’ and enter the OTP sent on your mobile number.

  • Step 5: Based on your eligibility, you will be shown offers.

  • Step 6: You will receive a call back from the bank’s representative.

How to Apply for SBI Home Loan Offline

Here are the steps to apply for an SBI home offline:

  • Step 1: Visit the nearest SBI bank branch.

  • Step 2: Request an application form.

  • Step 3: Fill all required details.

  • Step 4: Attach copies of all required documents.

  • Step 5: Submit the application to the bank official.

Documents Required for SBI Home Loan

Here are all the documents required to complete your SBI home loan application: 

1. Documents required for all applicants:

  • Properly filled application form

  • Passport sized photos

  • Proof of residence like latest utility bill, Aadhaar Card, driver’s licence , passport

  • Proof of identity like voter ID, PAN, driver’s licence or passport

  • Employer ID card

  • Loan amount statements of the past year, if applicable 

2. Documents required for salaried applicants:

  • Salary slips of three months

  • Copy of IT returns of two years

  • Copy of Form 16 of two years 

3. Documents required for non-salaried applicants:

  • IT return of last three years

  • Balance sheet of last three years

  • P&L statements of last three years

  • Details of business licence

  • Form 16 A or TDS certificate

  • Certificate of qualification

  • Proof of business address 

4. Property details:

  • Copy of blueprint

  • Occupancy certificate

  • Conveyance deed

  • Permission for construction

  • Stamped agreement for sale

  • Allotment letter maintenance bill

  • Electricity bill

  • Property tax receipt

  • Plan copy

  • Builder’s Registered development agreement

  • Bank statements or payment receipts from seller 

SBI Home Loan Types

  • Regular Home Loan: This SBI home loan can be availed for financing an under construction or already built property, along with pre-owned homes. It can also be used for renovation and extension of an existing home.

  • NRI Home Loan: NRIs can avail of this home for purchase or construction of houses.

  • Flexipay Home Loan: This home loan allows salaried professionals to pay smaller EMIs in the initial years and higher EMIs in the later years of the tenure. They may also repay during the moratorium period.

  • Home Loan Balance Transfer: Those with home loans from other banks or lenders can transfer their home loans to SBI through this balance transfer facility.

  • Privilege Home Loan: This home loan category is targeted at government employees, employees of public sector banks, PSUs or those in a pensionable service.

  • Shaurya Home Loan: This home loan category is designed for army and defence personnels offering them lower interest rates.

  • Pre-approved Home Loan: This type of home loan can be secured even before the customer finalises the property.

  • Realty Home Loan: This home loan category can be availed by those who wish to build a house within five years from the date of loan sanction. The maximum loan amount under this category is Rs.15 Crores that can be paid over a tenure of 10 years and not more.

  • Top-up Home Loan: Existing customers of SBI home loans can get a top-up in addition to the existing principal amount.

  • SBI YONO Insta Home Top-Up Loan: This home loan top-up facility is available to customers via the SBI YONO app. 

  • Non-salaried Differential Offerings: This loan is useful for non-salaried applicants, as their requirements are met. Loans of Rs. 50,000 to Rs.5 Crores can be availed.

  • SBI Tribal Plus: This category of home loans is applicable to applicants residing in tribal, remote or hilly areas. The maximum loan amount under this scheme is Rs 10 Lakhs for a tenure of up to 15 years.

Other Housing Loans Offered by State Bank of India 

Some other home loans offered by the State Bank include: 

  • SBI Commercial Real Estate Home Loan: It is ideal for those who already have two or more houses and wish to buy more.

  • SBI Reverse Mortgage Loan: This loan is specifically designed for senior citizens who own a property. It will help to generate extra income.

  • SBI Insta Home Top-up Loan

  • SBI Green Home Loan, etc. 

SBI Home Loan Features & Benefits

Here are some of the features of the SBI home loan:

  • Affordable: The SBI housing loan interest rate is extremely affordable. However, your eligibility and credit scores determine the interest rate you will be offered. SBI also offers lower interest rates to women.

  • Overdraft: You can avail of an overdraft on your SBI home loan. 

  • Flexibility: The loan seeker has autonomy over defining the number of years over which they pay off their home loan. SBI allows borrowers to repay their home loans over a tenure of 30 years.

  • Pre-approvals: Existing SBI customers like savings account holders can get pre-approved for a loan. This makes the application process exceedingly simple and hassle free.

Factors affecting SBI Home Loan Rates

Here are the factors that affect the SBI home loan interest rates: 

  • MCLR: The marginal cost of funds lending rate (MCLR) is the lowest rate at which a bank can lend. It is affected by cash reserve ratio, tenure premium, marginal cost of funds and operating cost.

  • Interest type: Customers can choose from a fixed, floating or mixed interest rate.

  • Loan to value ratio: LTV ratio is the percentage of property value to be financed through the loan.

  • Credit score: The borrower’s credit history, which defines their credit score, affects the type of home loan interest accrued.

  • Property location: Properties located in areas with good amenities will have a higher resale value, affecting the interest rate.

  • Job profile: Those with a stable source of income are considered low-risk customers.

  • Loan tenure: Short tenures have lower interest rates while long tenures attract a higher interest rate. Learn about home loan tenure before opting for a home loan.

SBI Home Loan Customer Care

You can get in touch with them via Toll Free Number or you can write to them:

  • Toll free number: 1800-11-2018

  • Address: Real Estate and Housing Business Unit, State Bank of India, Corporate Centre, Madame Cama Road, State Bank Bhavan, Nariman Point, Mumbai-400021


  • ✔️Can I apply for an SBI home loan online?

    Yes, you can apply for an SBI home loan online through the SBI website or a loan aggregator.

  • ✔️What are the processing fees for SBI home loans?

    The SBI home loan processing fee ranges from Rs. 2000 to Rs. 10000.

  • ✔️Does SBI give pre-approved home loans?

    Yes, SBI offers pre-approved home loans to its existing customers.

  • ✔️What is the maximum limit of an SBI home loan?

    The maximum limit of the SBI home loan is Rs. 50 Crores.

  • ✔️How can I check my SBI home loan status?

    You can check the status of your SBI home loan on the SBI YONO app or the website.

  • ✔️Does SBI check CIBIL for a home loan?

    SBI checks the credit score of the customer with a credit bureau.

  • ✔️What is the maximum loan tenure I can opt for under SBI house loan?

    The maximum tenure for SBI loans is 30 years.

  • ✔️Can I transfer my house loan from another bank to SBI?

    Yes, you can transfer your home loan from another bank to SBI.

  • ✔️Can I club the income of my spouse with mine and apply for a joint Home Loan?

    Yes, you can apply for a joint SBI home loan.

  • ✔️ Is SBI Home Loan EMI Calculator the same as SBI Home Loan Eligibility Calculator?

    No, the SBI home loan EMI calculator is different from SBI home loan eligibility calculator. The EMI calculator helps you with the EMI amount you have to pay on a home loan. The eligibility calculator will tell how much loan you can avail.

  • ✔️What are the factors affecting SBI Home Loan EMI calculator results?

    The home loan EMI calculator results will vary on the loan amount you enter, the rate of interest and chosen tenure. 

  • ✔️How can Bajaj Markets help you get a SBI Home Loan?

    You can access all details regarding SBI home loan on Bajaj Markets platform. You can check the available tenure, interest rate, etc and make an informed decision. It is a digital marketplace where you can compare financial products and choose one as per your need and budget.

Latest SBI Home Loan News

SBI Offers Concessional Interest Rates for Creditworthy Borrowers

India’s largest public sector lender, State Bank of India (SBI) has launched its newest promotion - ‘Campaign Rates.’ Under this offer, creditworthy borrowers (individuals with credit scores of 700 and above) can get concessions up to 30 to 40 bps on their home loan repayments. These concessions are valid till 31st March 2023 to eligible borrowers. The lowest interest rate offered currently is 8.60% for borrowers with a credit score of 800 or above.


- Jan 30, 2023

WDRA has Signed an MoU with SBI to Help Farmers Avail Loans at Lower Interest Rates

According to the Ministry of Consumer Affairs, Food and Public Distribution release, the MoU was signed to primarily promote the latest loan product - Produce Marketing Loan. This loan has come into effect to fund against electronic Negotiable Warehouse Receipt (e-NWRs). “Combined with the inherent security and negotiability of the e-NWR system, the Produce Marketing Loan will go long way in improving rural liquidity and increasing farmers’ income,” said the ministry.


- Jan 18, 2023

SBI Hikes Loan Interest Rates by 10 bps

SBI's consumer loan to get costlier as the lender increases marginal cost of funds-based lending rate (MCLR) by 10 basis points (BPS) across several tenures. The bank has increased its MCLR on tenure of one year to 7.8% from 7.7%. The MCLR for two and three years currently stands at 8.5% and 8.6% respectively. The new MCLR rates came into effect starting January 15, 2023, according to the bank’s website. This decision comes in as a direct response to the Reserve Bank of India (RBI) hiking its benchmark policy rates to tackle headline inflation.


- Jan 16, 2023