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SBI Home Loan


Loan Name Interest Rate Processing Fee Loan Amount Tenure
SBI Regular Home Loan 8.75% - 9.50%, Floating 0 Up to Rs 3 crores 1-30 Years
Details
Documents Required

Documents

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.
Benefits

  • Lower interest rates
  • Lower Processing Fees
  • No Hidden Charges
  • Penalty Charges will not be levied in case of Pre Payment of Loan
  • Repayment option up to 30 years
Eligibility

  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 70 years
  • The applicant should be a resident Indian
  • Tenure of the loan is up to 30 years
Other Details

  • No processing fees
  • Get property insurance premium post sanction
  • Pre-sanction fee includes advocate’s fee for property search and investigating title report.
  • The pre-sanction fee also includes valuer’s fee for valuation report.
  • Home loan is available as overdraft
SBI Balance Transfer Home Loan 8.75% - 9.50%, Floating 0 Up to Rs 3 crores Up to 30 years
Details
Documents Required

Documents

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate
  • NOC from Builder/Society
  • Chain of all old agreements for sale

Account Statement

  • Bank Account Statements for last 6 months from all the bank accounts held by the applicant.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.

Documents from other Banks

  • Sanction Letter
  • Loan account statement for last 1 year
  • List of Original Documents held at Bank
  • Interim Period Security
Benefits

  • Lower interest rates
  • Lower Processing Fees
  • No Hidden Charges
  • Penalty Charges will not be levied in case of Pre Payment of Loan
  • Get higher interest concession for women borrowers
Eligibility

  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 70 years
  • The applicant should be a resident Indian
  • Applicants can get extended loan tenure
Other Details

  • No processing fees
  • Get property insurance premium post sanction
  • Pre-sanction fee includes advocate’s fee for property search and investigating title report.
  • The pre-sanction fee also includes valuer’s fee for valuation report.
  • Home loan is available as overdraft
SBI NRI Home Loan 8.75%-9.50% Nil Maximum Rs 3 Crores 30 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport
  • Address proof which mentions current overseas address
  • Copy of Continuous Discharge Certificate (for those applicants who are employed in merchant navy)
  • PIO card issued by the Government of India
  • Attestation of documents may be done by representative offices or Indian Embassy or consulate or overseas notary public or sourcing outfits in India or Fos.

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Valid work permit letter
  • The employment contract of the applicant – an English translation duly attested by the consulate or employer or its foreign office or embassy if the contract is prepared in any other language
  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 2 years
  • Individual tax return except for non-resident Indians /PIO who are located in Middle East countries
  • Bank statement of overseas bank accounts for the last 6 months.
Benefits

  • No Hidden Charges
  • Loan tenure is spread over a period of 30 years
  • Pre Payment Penalty Charges are not levied
  • Processing Fee is less
  • Women borrowers will get interest concessions
Eligibility

  • The minimum age of the applicant should be 18 years
  • The maximum age of the applicant should be 60 years
  • The residential status of the applicant can be either Non-Resident Indians or Persons of Indian Origin
Other Details

  • No Processing fee
  • The applicant has to bear property insurance premium
  • This home loan is exclusively meant for non-resident Indians.
  • The applicant has to pay stamp duty loan agreement and mortgage.
SBI Flexipay Home Loan 8.75%-9.15%, fixed and flexible 0 Maximum above Rs 75 Lakhs up to 30 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In the case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.
Benefits

  • Low processing fee
  • Get lower interest rates on home loans
  • Applicants can get a 20% higher home loan on fulfilling certain eligibility criteria
  • Get interest concession for women borrowers
Eligibility

  • Minimum age of the applicant should be 18 years
  • Maximum age of the applicant should be 70 years
  • The applicant should be a resident Indian
Other Details

  • No processing fees
  • Get property insurance premium post sanction
SBI Privilege Home Loan 8.75% - 9.15%, floating 0 Maximum of up to Rs 50 crores up to 30 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In the case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.
Benefits

  • Loan amount can be repaid over a period of 30 years
  • Women borrowers will get interest rate concession
  • No Pre Payment Charges
  • Processing Fee is Nil
  • Lower interest rates on home loans
  • No Hidden Charges
Eligibility

  • The applicant should be resident Indian
  • The minimum age of the applicant should be 18 years
  • The maximum age of the applicant should be 75 years
  • The tenure of the loan is spread over 30 years
Other Details

  • Processing Fee is zero on home loan
  • This home loan is for those individuals who are working in the government sector which includes PSBs, PSUs of Central government
  • The applicants have to pay CERSAI Registration Fee of Rs 50 + applicable GST charges (in case of up to Rs 5 lakh limit) and Rs 100 + applicable GST charges (in case of above Rs 5 lakh limit)
SBI Shaurya Home Loan 8.75% - 9.15% 0 Max Rs 50 Crores up to 30 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant  

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In the case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.
Benefits

  • The loan amount can be repaid over a period of 30 years
  • Women borrowers will get interest rate concession
  • No Pre Payment Charges
  • Processing Fee is Nil
  • Lower interest rates on home loans
  • No Hidden Charges
Eligibility

  • The applicant should be a resident Indian
  • The minimum age of the applicant should be 18 years
  • The maximum age of the applicant should be less than 75 years
  • The tenure for repayment of the loan is spread across 30 years
Other Details

  • The scheme is dedicated especially to our Army and Defence Personnel of the nation.
  • The interest rates for women borrowers is relatively less when compared with their male counterparts.
  • CERSAI Registration Fee is Rs 50 + applicable GST charges (for up to Rs 5 lakh limit) and Rs 100 + applicable GST charges (for limits which are above Rs 5 lakh)
SBI Pre – Approved Home Loan 8.75% - 9.50% Rs 2000 - Rs 10000 (plus applicable taxes) Max Rs 3 Crores up to 30 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor/ Co-Applicant

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In the case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.
Benefits

  • The loan amount can be repaid over a period of 30 years
  • Women borrowers will get interest rate concession
  • No Pre Payment Charges
  • Processing Fee is Low
  • Lower interest rates on home loans
  • No Hidden Charges
Eligibility

  • The applicant should be a resident Indian
  • The minimum age of the applicant should be 18 years
  • The maximum age of the applicant should be less than 70 years
  • The tenure for repayment of the loan is spread across 30 years
Other Details

  • The interest rates for women borrowers is relatively less when compared with their male counterparts.
  • The processing fee is 0.35% of the loan amount
  • The minimum processing fee is Rs 2000 and the maximum amount is Rs 10,000 (plus applicable taxes).
SBI Realty Home Loan 9.25% - 9.55% Min Rs 2000 - Max Rs 10000 (plus applicable taxes) Max Rs 15 Crores 10 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passport sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.
  • Signature Identification from present bankers
  • Statement of Personal Assets and Liabilities

For Guarantor

  • Proof of Identification
  • Proof of Residence
  • Personal Assets and Liabilities Statement
  • Recent passport size photographs (2 photos)
  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Proof of Business Address (if any)
  • Signature Identification from present bankers
Benefits

  • Low Processing Fees
  • No Prepayment penalty charges
  • Zero hidden charges
  • Attractive Interest Rates
  • More interest concession for women borrowers
Eligibility

  • The borrower should be an Indian resident
  • The minimum age of the individual should be 18 years
  • The maximum age of the individual should be 65 years
Other Details

  • Individuals who aspire to purchase a plot for construction of a dwelling unit can avail Realty Home Loan
  • Processing fees stands at 0.35% of the loan amount
  • The minimum processing fee is Rs 2000
  • The maximum processing fee is Rs 10000
  • The tenure of the loan is spread over 10 years
SBI Home Top Up Loan 9.00% - 10.45% 0 Above Rs 2 Crore 30 years
Details
Documents Required

  • Identity Card of Employer
  • Duly filled in application form along with 3 recent passports sized photographs
  • Proof of Identification (Any One): Passport/ PAN/ Election ID Card/ Driver’s License
  • Proof of Residence or Address (Any One): Aadhar Card/ Driving License/ Utility Bills including water bill, electricity bill, LPG bill, telephone bill/ Passport

Property Papers

  • Registered Agreement for sale (only in the state of Maharashtra)/ Stamped Agreement for sale/ Allotment Letter
  • Share Certificate (only in the state of Maharashtra), Property Tax Receipt, Electricity Bill, Maintenance Bill
  • Occupancy Certificate in case of ready to move property
  • Permission for Construction
  • Approved Plan Copy (Xerox Blueprint), Registered Development Agreement of the builder, Conveyance Deed (in case of new property)
  • Payment Receipts or Bank A/C statement showing payments made to Seller/Builder

Account Statement

  • Bank Account Statements for the last 6 months from all the bank accounts held by the applicant.
  • If the borrower has taken a loan from any other bank/lenders, then Loan A/C statement for the last 1 year has to be submitted.

Income Proof for Salaried Applicant/ Guarantor/ Co-Applicant

  • Recent 3 months salary slip or Salary Certificate from the currently employed organization.
  • Copy of Form 16 for the last 2 years or a copy of IT Returns for the last 2 financial years which is acknowledged by the IT Department.

Income Proof of Non- Salaried Applicant/ Guarantor

  • Income Tax returns for the last 3 years
  • Business Address Proof
  • Proof of Identification
  • Proof of Residence
  • Personal Assets and Liabilities Statement
  • Profit and Loss A/C and Balance Sheet for the last 3 years
  • Business License Details
  • TDS certificate (Form 16A)
  • In the case of Chartered Accounts/ Doctor/ Other Professions Certificate of Qualification.
Benefits

  • Zero hidden charges
  • Low Processing Fees
  • Home loan is available as an overdraft
  • Tenure of the loan is spread over 30 years
  • Attractive Interest Rates
  • No Prepayment penalty charges
Eligibility

  • The applicant should be a resident Indian and Non-Resident Indian
  • The minimum age of the applicant should be 18 years.
  • The maximum age of the applicant should be 70 years.
Other Details

  • This loan is available for those SBI customers who prefer to borrow over and above their existing home loan amount.
  • The Home Top-Up Loans comes in handy for those who require more funding for house construction or for the purchase of a home.
  • Maximum loan amount available stands at above Rs 2 crores.
  • Interest rate varies for salaried individuals and for non – salaried individuals.

Q: What is the list of documents required to avail the home loan in SBI?

A: The following are the list of documents required to avail the home loan in SBI

  • Employer Identity Card
  • Proof of Identity
  • Proof of Residence
  • Property documents
  • Bank account statement for the last 6 months
  • Income Proof for Salaried Applicant: salary pay slips of the last three months
  • Income Proof for Non-Salaried Applicant: Business proof, Profit and Loss Account, Balance Sheet of the firm and IT returns from last 3 years

Q: What is the processing charges in SBI home loan?

A: SBI charges a very nominal amount for its home loan as processing fee and it will be up to 0.35% of the loan amount. The maximum processing fee can be up to Rs 11,500/-.

Q: Which is a better form of a loan - short term loan or long term loan?

A: This totally depends on the borrower's financial status. If your monthly income is low then you must opt for a long-term loan as it gives beneficial with lower EMI. If your Monthly income is Higher then go for the Short-term loan option. However, short-term loan means higher EMIs but lesser interest rates.

Q: What are the Benefits in SBI home loan?

A: The attracted features of SBI are listed below:

  • Low interest rates
  • Low processing fee
  • No hidden charges
  • Interest charges on Daily Reducing Balance
  • No Pre Payment Penalty
  • More Interest Concession for Women Borrowers
  • Repayment tenure spread up to 30 years

Q: Can I clear my SBI home loan earlier than the initial tenure?

A: Yes. You can clear your SBI home loan earlier too, without any pre-payment penalty charges.


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