SBI Home Loans offered by the State Bank of India help individuals to fulfill their dream of buying a home. The SBI Home Loan interest rates charged on the borrowed amount depend on certain factors such as loan amount, tenure and the applicant’s CIBIL Score.
State Bank of India offers various home loans to its customers, and the interest rates on these home loans can start from as low as 8.50%. This page covers the SBI Home Loan interest rates and eligibility criteria for all the State Bank of India Home Loan schemes.
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SBI Bank Home Loan - Highlights |
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SBI Home Loan Amount |
Up to 90% of the property’s cost |
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SBI Housing Loan Interest Rate |
8.50% - 10.15% per annum |
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Loan Tenure |
Up to 30 years |
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Processing Fees |
0.25% of the loan amount |
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Foreclosure Charges |
Nil |
Given below are the different home loan schemes offered by the State Bank of India, along with the latest interest rates:
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Types of SBI Home Loans |
SBI Housing Loan Interest Rates |
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SBI Regular Home Loan |
9.15% - 9.65% |
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SBI Tribal Plus |
9.25% - 9.75% |
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SBI Realty Home Loan |
9.45% - 9.85% |
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Commercial Real Estate (CRE) Home Loan |
9.35% - 9.85% |
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Top-up Loan |
9.55% - 10.15% |
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Loan Against Property |
10.90% - 11.30% |
This scheme is available for applicants that are aged from 18 years to 70 years.
The interest rate on SBI Regular Home Loan is 9.15% per annum. The processing fee on this loan is 0.35% of the loan amount. The minimum processing amount ranges between Rs. 2,000 to Rs. 10,000. SBI regular home loan offers a 0.5% lower interest for women, with zero foreclosure charges.
This scheme is launched for the people who live in tribal or hilly areas. The interest rate of this loan starts from 9.25% and has a processing fee of 0.35% of the loan amount. The repayment tenure for this particular loan is 15 years.
SBI Flexipay Home loan offers higher loan eligibility exclusively for salaried borrowers, allowing them to pay only interest during the moratorium (pre-EMI) period and then opt for moderated EMIs.
The SBI home loan interest rate today for Flexipay is based on the CIBIL score of the applicant. Hence, applicants with a positive CIBIL Score of above 700 can get a lower interest rate on their loan amount.
This is an exclusive scheme for non-salaried individuals which offers the best home loan values to the applicants. It offers home loans for the purpose of buying new homes, construction and for repairing/renovating existing houses. One can get a loan amount ranging from Rs. 50,000 to Rs. 50 crores under this home loan scheme.
This is a type of home loan that is sanctioned even before the property has been finalized. It allows more negotiating power with the seller or the builder. The perks of this loan are similar to the SBI regular home loan.
The SBI Earnest Money Deposit (EMD) home loan scheme is specifically designed for individuals seeking to buy built-up houses or residential plots sold by Urban Development Authorities like HUDA, PUDA, Housing Boards, and various other Government Housing agencies. This initiative by SBI caters to those who require a short-term loan to facilitate their property purchases.
SBI Realty home loan offers loan amounts to customers to purchase a plot of land to build their homes. It has a loan limit of up to Rs.15 crore with repayment terms of up to 10 years. It also provides an option to obtain a separate SBI home loan for construction.
The curated scheme is for people who already have a home loan and want to purchase another house. The maximum number of home loans under this scheme is three (for an individual), including the existing home loans. The advantages of this scheme are lower interest rates for women and no foreclosure/prepayment charges.
SBI Suraksha is a group life insurance scheme offered by the State Bank of India to new and existing home loan customers who have chosen the SBI Life Cover. Under the SBI Suraksha scheme, the customers are provided various insurance coverages at nominal premium rates. The coverage generally includes Personal Accident Insurance, Accidental Death Insurance, Accidental Total and Permanent Disability Insurance and Accidental Partial Disability Insurance.
The interest rates on State Bank of India Home Loans might vary depending on the applicant’s CIBIL score. Therefore, one must keep a record of a good CIBIL score to get a low-interest rate on their loan amount.
The table below shows the home loan interest rates from SBI based on the CIBIL scores:
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CIBIL Score |
Interest Rates |
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>=800 |
9.15% |
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750-799 |
9.25% |
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700-749 |
9.35% |
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650-699 |
9.45% |
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550-649 |
9.65% |
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NTC/No CIBIL Score/-1 |
9.35% |
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List of Banks/ Housing Finances
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Home Loan Interest Rates | ||
| Up to 30 lakhs | Above 30 lakhs to 75 lakhs | Above 75 lakhs | |
| State Bank of India | 8.50% - 10.15% | 8.50% - 10.05% | 8.50% - 10.05% |
| LIC Housing Finance | 8.50% - 10.35% | 8.50% - 10.55% | 8.50% - 10.75% |
| HDFC Bank Limited | 8.40% onwards | 8.40% onwards | 8.40% onwards |
| Kotak Mahindra Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| ICICI Bank | 9.00% - 9.80% | 9.00% - 9.95% | 9.00% - 10.05% |
| PNB Housing Finance | 8.75% - 14.50% | 8.75% - 11.45% | 8.75% - 11.45% |
| Punjab National Bank | 8.55% - 10.25% | 8.50% - 10.15% | 8.50% - 10.15% |
| IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
| L&T Finance Limited | 8.60% onwards | 8.60% onwards | 8.60% onwards |
| Union Bank of India | 8.50% -10.75% | 8.50% - 10.95% | 8.50% - 10.95% |
| Tata Capital Housing Finance | 9.20% onwards | 9.20% onwards | 9.20% onwards |
| Federal Bank | 10.15% - 10.20% | 10.20% - 10.25% |
10.25% - 10.30%
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| Bajaj Housing Finance | 8.50% onwards | 8.50% onwards | 8.50% onwards |
Given below are the eligibility criteria for different types of State Bank of India Home Loans:
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Types of SBI Home Loans |
Eligibility Criteria |
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Minimum Age |
Maximum Age |
Nationality |
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SBI Regular Home Loans/SBI Pre-approved Home Loans |
18 years |
70 years |
Resident Indian |
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SBI Flexipay Home Loan |
21-45 years |
70 years |
Indian (Salaried) |
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SBI Realty Home Loan |
18 years |
65 years |
Indian |
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SBI Home Loan for Non-Salaried Differential Offerings |
18 years |
- |
Resident Indian (Non-salaried) |
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SBI CRE Home Loan |
18 years |
70 years |
Resident Indian |
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SBI Earnest Money Deposit |
21 years |
- |
Indian residents only |
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SBI Suraksha |
18 years |
79 years |
Indian |
One can apply for a home loan under the State Bank of India either offline or online. Given below are the detailed instructions:
SBI Home Loan Offline Application Process: For the offline process, the applicant can visit any nearest SBI branch and consult the bank representative about the different SBI Home Loan Schemes. They can check their eligibility criteria and fill out the application form for the preferred home loan. Submit all the necessary documents for background and income verification.
SBI Home Loan Online Application Process: For online applications, go to the official website of SBI home loans (https://homeloans.sbi/). Check the eligibility criteria for all the home loans offered by the State Bank and fill out the application form. After submitting the application form and documents, one of the representatives will contact you to proceed with the application process.
It is advisable to check the monthly installments or EMI for the loan amount using the SBI Home Loan Calculator before applying for the home loan.
Given below is the list of documents required to apply for a home loan under the State Bank of India:
Several factors influence the interest rates SBI offers on its home loans. Some of the key factors include: