SBI Home Loan

Purchase your dream home with an SBI Home Loan. Enjoy quick approval, attractive rates, and flexible EMIs. Apply online today.

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Highlights

Rate of Interest

8.5% to 8.9% p.a.

Tenure

5-30 years

Processing fee

Zero

Loan Amount

Rs.10 lakh – 10 crore

Prepayment Charges

Zero

Foreclosure Charges

Zero

Required Documents

Mandatory documents

👉 Completed loan application

👉 Three passport size photographs

👉 Identity proof (any one): PAN/ Driving License/ Passport/ Voter ID card

👉 Address proof (any one): Recent copy of any utility bill (Telephone/ Electricity/ Water/ Piped Gas) or Passport/ Driving License/ Aadhar Card

👉 Other documents to be submitted as per your profile

For salaried individuals

Salary slips for the last 3 months
Copy of Form-16 or IT Returns for the last 2 years

For self-employed individuals

Proof of business address
Balance sheet and P&L statement for the last 3 years
Business license details
Copy of IT Returns for the last 3 years
Copy of Form-16A (if applicable)
Certificate of qualification (for C.A., Doctor, and other professionals)

For Farmers

Last 2 years’ income certificate by Talati/ Gram Sevak/ Village Revenue Officer
Land revenue records – Form 6, 7/12, 8A
Bank account statement for the last 12 months

For non-resident Indians (NRIs)

A copy of valid visa or work permit
Any of the following for NRIs with Seafarer work profile:
- Valid job contract
- Continuous Discharge Certificate (CDC) (if disembarkation stamp is not older than 6 months)
- Expired contract letter (if disembarkation stamp is older than 6 months)
- Last salary slip as proof of employment with a shipping company
Relevant passport pages (with overseas address)
Overseas address proof: Government issued National Identity Card/ Driving license/ Utility bill/ Overseas bank statement
Employer’s certificate
Address proof of the blood relative you’re staying along with proof of relationship

Key Features

Loan Amount: SBI offers a variety of home loan schemes that provide a loan amount of up to Rs.10 crores to meet the diverse needs of individuals coming from different sections of society.
Interest Rate: To ensure that everyone is able to afford a house, SBI Home Loan offers a competitive interest rate that starts from 6.80%. Hence, making its EMIs affordable.
Prepayment/Foreclosure Charges: SBI Home Loan can be foreclosed or prepaid with no additional charges.
Processing Fees: The processing fee of SBI Home Loan starts from 0% and goes up to 0.50%, depending upon eligibility and the home loan scheme selected.
Application Process: Customers can apply for a SBI Home Loan either by visiting the nearest branch, or simply logging in online – from the comfort of their home.
Flexible Tenure: SBI Home Loan can be repaid within a maximum tenure that goes up to 30 years. The tenure is flexible and can be chosen as per the repayment ability.
Balance Transfer Facility: SBI allows all its customer to transfer their existing home loan to another bank or NBFC without any prepayment charges to avail better rates and benefits.
Minimum Documentation: To make the home loan process easy and disbursal quick, SBI asks for minimum documentation from its customers