State Bank of India Home Loan

Buy your dream home with a loan from SBI. Get quick approval with attractive rates and flexible EMIs. Apply online now.

Highlights

  • Rate of interest
    6.7% - 8.0% p.a.
  • Tenure
    5 - 30 years
  • Processing fee
    Nil
  • Loan amount
    Rs.10 lakh - Rs.10 crore
  • Prepayment Charges
    Nil
  • Foreclosure Charges
    Nil

Are you eligible?

You should meet the following criteria to apply for this loan:
  • Resident type: Indians and Non-Resident Indians (NRIs)
  • Applicant's age: 18 - 70 years
  • Min. monthly income for primary applicant: Rs 15,000
  • Min. monthly income for co-applicant: Rs 10,000

Key features of State Bank of India Home Loan

  • SBI Home Loan Interest Rate starts from 6.70%.
  • Nil Processing Fee ( Limited Period Offer)
  • Loan Tenure of Home Loan ranges from 5 years to 30 years.
  • SBI allows prepayment of home loans with Nil charges on floating rate loans.
  • SBI has an average customer rating of 4.1/5.0 from customers who have taken a home loan from the bank.

Tentative list of documents required for Home Loan

Mandatory documents(To be submitted by all applicants)
  • 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

Home Loan Calculator*

All you need to know about your home loan

  • EMI Calculator
  • Loan Eligibility Calculator
  • Balance Transfer
  • Prepayment
  • Rate Change
  • Monthly Loan Repayment
How much will I have to pay every month?
Loan Amount
Tenure
Rate of Interest
Your EMI Per Month will be
33,038

Disclaimer: The information available on this site has been gathered from publicly available sources and is accurate to the best of our knowledge. However, please be aware that the rates and other offers may vary based on your profile and may be subject to change without notice. Therefore, we advise you to verify the information before applying for any loan through this website. Magicbricks accepts no liability for any loss arising from the use of the information on this website. Refer T&C for the detail.
(T&C link: https://property.magicbricks.com/terms/terms.html)

**This service is available in select cities only.

*These calculators are only for illustrative purposes. These figures may or may not be applicable to your particular situation. Magicbricks will not be responsible for any loss or liability arising from the use of these calculators.