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SBI Housing Loans


State Bank of India, commonly referred to as SBI, is the largest bank of India both in terms of total assets and customer base. SBI provides a wide array of housing loans at most competitive rates in the market and also suits eligibility and requirements of different types of consumers. In addition, SBI housing loans now offers special concessions on. SBI housing loan is available for purchase of new house or plot, or construction or extension or repairs or renovation of residential homes.


Why SBI housing loans?

  • SBI is the most trusted public sector bank in India with over 13,700 branches in almost all cities and towns of India.

  • SBI housing loans are available at most affordable interest rates and very low processing fee. What's more, SBI charges interest on the basis of daily reducing balance method that saves you a good sum of money on loan interest depending on tenure of your housing loan.

  • SBI imposes no prepayment penalties on housing loans. You can save on interest by utilizing your surplus funds by prepaying the loan.

  • SBI offers a variety of housing loan schemes to suit your requirement and repayment capability. One can avail a minimum housing loan of 5 lac rupees, though there is no cap on maximum loan amount.

  • The bank also offers options to club income of your spouse and children, as well as expected rent accruals from new property to compute eligible loan amount.

  • Repayment of SBI housing loans are permitted upto 70 years of age (maximum tenure 25 years).

  • Prepayment penalty is charged only if you wish to close your loan account before half of the original tenure. If the loan is pre-closed from own fund other than borrowings no pre-closure charges shall be levied irrespective of the loan period.

  • Option to avail loan at the place of employment or at the place of construction.

  • Free personal accident insurance cover.

  • Attractive home loan packages with concessional interest rates to Govt. Employees, Teachers, Employees in Public Sector Oil Companies.


SBI Housing Loan Products


SBI Maxgain: In this policy, loan is granted an overdraft facility. The product is designed in a way to minimize your interest cost by enabling you to put your surplus funds in ‘SBI-Maxgain’. Also one can operate his/her home loan account with SB or current account. The minimum loan amount available under SBI Maxgain is Rs.5 lacs while maximum is upto Rs.1 Crore.

SBI Realty: Suitable for those who are planning to buy a plot for construction of a house. Customers can avail a maximum loan amount of Rs.10 crores with tenure upto 15 years. House construction must start within 2 years from the date of taking of ‘SBI-Realty’ Housing Loan.


SBI Home Plus: SBI Home plus offers personal loans to existing home loans customers against the security of their house property. All customers with a good repayment record and who maintain a SB or current account with SBI are eligible for this scheme. The loan can be used for any family purpose including extension/repair of house, purchase of car, consumer durables, or medical or personal expenses.


SBI Green Home Loan: This product comes under the initiatives taken by SBI to promote environmental friendly houses known as Green Homes. Bank offers 0.25% concession in interest rate and waiver of processing fees for customers going for green buildings.


SBI Tribal Plus: This product is specially designed to cater to the people of Hilly/Tribal areas. Maximum loan granted under this scheme is Rs.10 lacs for a maximum tenure of15 years.


Gram Niwas: Under this loan scheme are covered the farming and poorest of the poor in rural areas who need to purchase /construct a house, repair and renovate, or purchase a plot for the construction of a house/shed etc.


Sahyog Niwas: This product provides housing loan to the self-help groups specially in rural areas. The loan can be used for the purchase or construction of a house, purchase of a plot for house, or for the renovation or repair of an existing house / shed.


NRI Home Loans: This product is designed for housing loan requirement of Non Resident Indians and Persons of Indian Origin, who fulfill certain eligibility norms. The minimum loan amount sanctioned under this scheme is Rs. 3 lacs while maximum limit is variable. It is 30% for Net Annual Income (NAI) upto Rs.2 Lac, 50% for NAI above Rs.2 Lac and upto Rs.5 Lac, 55% for NAI above Rs.5 Lacs and upto Rs.10 Lacs, 65% for above Rs.10 Lacs.


Earnest Money Deposit (EMD) Scheme: This scheme is made for those who wish to apply for housing draws held by Government agencies, like Urban Development Authorities and Housing Boards like the famous DDA Draw.. It helps in depositing the minimum security amount which is about 10-15% of of the cost of plot/house.



SBI housing loan interest rates

SBI offers two types of rate of interests - Floating rate of interest/ fixed Interest rates. Under floating category, interest is charged at current floating rates on a daily reducing balance at monthly time interval and is subject to revision from time to time. In the fixed interest rates, it's charged at the existing fixed rate of interest on daily reducing balance, subject to interest rate change at the end of every two years.

Currently (as on 27th May 2011) floating interest rates on housing loans are as follows.

Upto Rs. 30.00 lacs - 10.25% p.a.

Rs. 30.00 lacs to Rs. 75.00 lacs - 10.50% p.a.

Above Rs. 75.00 lacs - 11.00% p.a


Eligibility and documents required for SBI housing loans




Self employed


18 years to 70 years

18 years to 70 years


Rs.1,20,000 (p.a.)

Rs.2,00,000 (p.a.)

Loan Amount Offered

5,00,000 upwards

5,00,000 upwards




Current Experience




1) Application form with 3 passport size photograph
2) Identity & residence proof
3) Original last 3 months salary slip from employer
4) Form 16 or copy of IT returns for last 2 years
5) Statements of bank accounts for last 6 months (SALARY ACCOUNT)
6) Processing fee cheque

1) Application form with 3 passport size photograph
2) Identity & residence proof
3) Original last 3 months salary slip from employer
4) Form 16 or copy of IT returns for last 2 years
5)Pass Book or bank account statement for past 6 months
6)Signature authentication from current bankers
7) Education qualifications certificate and proof of business existence
8) Last 3 years profit/loss & balance sheet
9) Processing fee cheque

10) Certified copies of Income Tax Assessment Orders/Returns for the last three years.
11) Photocopies of receipts showing Advance Income Tax payment.

For guarantor (whenever applicable) 

  • Personal Assets and Liabilities Statement

  • 2 passport size photographs

  • Proof of identification

  • Proof of residence

  • Proof of business address

  • Signature identification from his/her present bankers


 SBI housing loan EMI calculator



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