After being the 45th biggest bank in the world with an asset size of ₹37 Lakh Crore and a customer base of 500 million, government owned banking and financial service organization, State Bank of India (SBI) needs no introduction. This largest banking institution of India is headquartered in Mumbai, and is known for offering diverse products and services to the people around the world. With its best of products such as Home Loan, the bank leaves no stone unturned to fulfill the varied needs of all. Yes, when it comes to SBI Home Loan, it comes to you with plenty of unmatched features and benefits to avail. The bank offers many home loan schemes to meet the diverse needs of all. Whether you are salaried or self-employed, you can easily avail the home loans offered by SBI at attractive interest rates, less processing fee and charges.

SBI Flexipay Home Loan, SBI Maxgain, NRI Home Loans, SBI Realty, SBI Pal, SBI Tribal Plus, SBI Privilege Home Loan and SBI Shaurya Home Loan are few of the schemes offered by the bank to fulfill the wish of many home loan borrowers. Well, to know more about Home Loan SBI, let's go through this article further. 

SBI Home Loan Interest Rates

Particulars Details
Interest Rate

For Salaried: 8.35%-8.65% (p.a.) (Women)
8.40%-8.70% (p.a.) (Others)

For Non-Salaried: 8.50%-8.75% (women) and 8.55%-8.80% (others) 

Loan Amount Customized
Tenure Up to 30 Years
Processing Fee 0.35% of the loan amount, subject to a maximum of ₹10,000 + service tax (0% processing fee on balance transfer till 30th June and for all Central / State Govt. Employees)
Pre-closure Charges Nil
Partial Pre-Payment Charges Nil

SBI Home Loan Eligibility Criteria

SBI provides home loan to salaried, self-employed, employees of central/state government, self-help groups and defense personnel belong to army, navy and air force. Moreover, if you fall under this criteria, it is easy for you to avail the home loan from SBI. The bank will be more than happy to fulfill your wish of owning a dream home by offering you the loan, meeting your criteria.

For your reference, below is the table showing SBI Home Loan Eligibility.

Criteria Salaried Self-employed
Age 18 Years-70 Years 21 Years-70 Years
Income ₹1,80,000 (p.a.) ₹1,80,000 (p.a.)
Loan Amount Offered Customized Customized
Tenure 30 Years 30 Years
Current Experience 2 Years 3 Years

SBI Home Loan Apply Online

If you want to avail a home loan from SBI, the most convenient and quickest way to avail the same is through applying online. Yes, being the most hassle-free and simplest process, it allows you to avail the home loan in no time. All you need to do is just visit the site online, reach to the home loan section, and click on 'Apply Online' button. The moment you do so, you will be redirected towards a page, wherein you need to submit your personal as well as professional details so that your eligibility will reach out to the bank instantly. After evaluating your profile, if your eligibility matches with the bank's norms, you will get a call from bank executives to process your loan application further.

SBI Home Loan Schemes

SBI offers various home loan schemes to all its customers so that they can choose from plenty of options. All these home loan schemes come with easy repayment options, competitive interest rates, nominal fee & charges. To know more about these schemes, kindly go through this article below.

SBI Flexipay Home Loan

SBI Flexipay Home Loan is available for salaried and working professional/executives.

Salaried applicants with minimum 2 years of experience, aged between 21-45 years are eligible to avail the loan under this scheme. This loan scheme is available with a maximum repayment period of 25-30 years with a loan amount of ₹20 Lakh or above.

SBI Maxgain-Home loan available as an overdraft

You can avail this scheme to get the loan amount of above ₹20 Lakh & there is no maximum limit available for obtaining home loans under SBI Maxgain scheme.

NRI Home Loans

This home loan scheme is available for Non-Resident Indians (NRIs) as well as for Persons of India Origin (POIs), having regular source of income. To avail the same, the minimum employment tenure in India/Abroad is 2 years, whereas as far as loan amount is concerned, there is no maximum limit for the same.

SBI Realty- To Purchase Plot for Construction

You can avail this loan to purchase a plot so as to start the construction of house. But it comes with a condition i.e. the construction of the house should commence within 2 years from the day you availed the loan under this scheme. Maximum loan amount offered under this scheme is ₹10 crore upto a repayment period of 15 years.


Under this scheme, the home loans can easily be sanctioned to the borrowers before the finalization of the property, which also enables the borrowers to do the negotiation easily.

The eligibility will be decided on the basis of income details provided by the applicants.

SBI Pal home loan schemes is available with a minimum loan amount of ₹10 Lakh.

SBI Tribal Plus

This home loan scheme from SBI has been thoughtfully designed for people living in hilly/tribal areas so as to extend their financial assistance. Usually, in these areas the mortgage of the property is not easily possible, thus keeping this thing in mind, SBI has come up with this scheme. You can avail loan from this scheme to purchase or construct a home/flat without mortgaging the land. The maximum loan amount that you can get is ₹10 Lakh for a maximum repayment period of 15 years.

SBI Privilege Home Loan

Employees of Central/State Governments including PSBs, PSUs and other individuals with pensionable service. Maximum loan tenure is 30 years with repayment upto the age of 75 years. You can also opt for the balance transfer, and switch your existing home loan to SBI.

SBI Shaurya Home Loan

Those who are in defense personnel belonging to Army, Navy and Air Force are eligible to avail the home loan under this scheme. You can also opt for balance transfer in order to reap the maximum benefits of this scheme. Under this scheme, you can repay the same at an age of 75 years with maximum loan repayment period of upto 30 years.

SBI Home Loan Documents

To avail SBI Home Loan, it is highly important for you to be ready with a complete list of documents so that loan application can easily be processed further. To know about the complete list of documents required for SBI home loan, read this article below.

Salaried Self-employed/Professionals/Other IT Assesses
Duly filled loan application Duly filled loan application
3 recent passport size photographs 3 recent passport size photographs
Identity proof (Aadhar Card/Voter ID card/Passport/ Driving licence/IT PAN Card) Identity proof (Aadhar Card/Voter ID card/Passport/ Driving licence/IT PAN Card)
Residential proof (Aadhar Card/photocopy of recent electricity bill/telephone bill/property tax receipt) Residential proof (Aadhar Card/photocopy of recent electricity bill/telephone bill/property tax receipt)
Proof of business address for non-salaried individuals Proof of business address for non-salaried individuals
Bank statement/Pass Book of last three month Bank statement/Pass Book of last three month
Signature identification from present bankers Signature identification from present bankers
Personal Assets and liabilities statements Personal Assets and liabilities statements
Original salary certificate from employer Acknowledged copies of three years IT return/Assessment orders
TDS certificate on Form 16 of IT return for last two financial years, duly acknowledged by IT department Photocopies of challans evidencing payment of Advance Income Tax

Additional Documents Required from Guarantor

2 recent passport size photographs
Identification proof as stated above
Business address proof as state above
Signature Identification from present bankers
Personal assets and liabilities statements

SBI Home Loan EMI Calculator

Want to know your EMI for SBI home loan? If yes, nothing to worry as SBI EMI Calculator is here to help you out. This EMI Calculator is one such effective tool that allows you to calculate your EMIs instantly, the moment you feed the details such as loan amount, interest rate and tenure in it. This tool takes into account these details and give you the calculative results of your EMIs in a very simple and hassle-free manner.

For your better understanding, below is a sample of table showing EMI, total interest outgo and total amount payable on an SBI home loan of ₹20,00,000 for 20 years at an interest of 8.35% per annum.

Loan Amount (in ₹) Interest Rate (p.a.) Tenure (in years) EMI (in ₹) Total Interest Outgo (in ₹) Total Amount (in ₹)
20,00,000 8.35% 1 1,74,301 91,608 20,91,608
20,00,000 8.35% 2 90,774 1,78,580 21,78,580
20,00,000 8.35% 3 62,996 2,67,862 22,67,862
20,00,000 8.35% 4 49,155 3,59,444 23,59,444
20,00,000 8.35% 5 40,889 4,53,318 24,53,318
20,00,000 8.35% 6 35,409 5,49,467 25,49,467
20,00,000 8.35% 7 31,522 6,47,875 26,47,875
20,00,000 8.35% 8 28,630 7,48,522 27,48,522
20,00,000 8.35% 9 26,402 8,51,384 28,51,384
20,00,000 8.35% 10 24,637 9,56,437 29,56,437
20,00,000 8.35% 11 23,209 10,63,652 30,63,652
20,00,000 8.35% 12 22,035 11,72,998 31,72,998
20,00,000 8.35% 13 21,054 12,84,442 32,84,442
20,00,000 8.35% 14 20,226 13,97,948 33,97,948
20,00,000 8.35% 15 19,519 15,13,480 35,13,480
20,00,000 8.35% 16 18,911 16,30,999 36,30,999
20,00,000 8.35% 17 18,385 17,50,462 37,50,462
20,00,000 8.35% 18 17,925 18,71,829 38,71,829
20,00,000 8.35% 19 17,522 19,95,055 39,95,055
20,00,000 8.35% 20 17,167 21,20,094 41,20,094

Amortization Table

Year Principal (in ₹) Interest (in ₹) Balance Amount (in ₹)
1 40,533 165,471 1,959,467
2 44,049 161,955 1,915,418
3 47,872 158,132 1,867,546
4 52,025 153,979 1,815,521
5 56,541 149,463 1,758,980
6 61,445 144,559 1,697,535
7 66,776 139,228 1,630,759
8 72,572 133,432 1,558,187
9 78,870 127,134 1,479,317
10 85,710 120,294 1,393,607
11 93,149 112,855 1,300,458
12 101,231 104,773 1,199,227
13 110,018 95,986 1,089,209
14 119,562 86,442 969,647
15 129,936 76,068 839,711
16 141,212 64,792 698,499
17 153,464 52,540 545,035
18 166,782 39,222 378,253
19 181,253 24,751 197,000
20 197,119 9,027 0

SBI Home Loan Customer Care

In case, you have any concern, query related to SBI Home Loan, the bank is always available at your service. Yes, you can anytime reach out to the bank, by dialing a toll-free customer care number-1800 425 3800. On this number, the executives are always at your help, solving your problems, answering your queries and giving you right advice so that your SBI Home Loan journey can be more smooth and enjoyable.

SBI Home Loan Processing Fee

There is no processing fee for Takeover of Home Loan proposals sourced for the period 01.04.2017 to 30.06.2017 provided the loans are disbursed fully/partially on or before 31.07.2017. Also, SBI levies 0% processing fee for all Central / State Govt. Employees. Other than this, the bank charges processing fee of 0.35% of the loan amount to the maximum of ₹10,000/- plus applicable service tax. 

SBI Home Loan Status

In order to know your SBI Home Loan Status, you can visit the site online. Yes, all you need to do is just open the site, enter your login credentials and click on to know your status. The moment you do so, you will be redirected towards a page, asking few details of your loan application. With the help of this facility, you can easily track or know the real-time status of your home loan application. You can also know whether your loan application is processed further or it got rejected by the lender.