State Bank Of India (SBI) Home Loan, Interest Rate and EMI Calculator August 2017

 

(Updated on 01.08.17) State Bank Of India home loan and EMI Calculator August 2017 – Get Instant Quick & Easy Approval on SBI Home Loan. Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓Interest Rate ✓Loan Tenure ✓Processing Fee ✓Eligibility ✓Best Offers & more.

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State Bank Of India (SBI) Home Loan

State Bank Of India Home Loan is the most preferred and enchanting home loan creatively designed to meet the demand of every individual and all categories of customers to own a house/flat of their own. State Bank of India offers an eclectic array of home loan products to its customers at the most affordable & tempting Home Loan Interest Rates. SBI Home Loan comes with customized home loan features such as low processing charges, exciting offers, no hidden charges, no pre-payment penalties and lots more. Check your Home Loan Eligibility with SBI Home Loan Eligibility Calculator and get the best deal according to your home loan requirements.

If you are thinking of taking a personal loan and a Car loan , SBI Personal Loan and SBI Car Loan will be the best one to opt for.

State Bank India home loan Interest Rate w.e.f. 15th June 2017

For Women (Up to 75 lakhs) 8.35%
For Others (up to 75 lakhs) 8.40% 
Loan Above 75 lakhs  8.55% (Salaried Women) and others for 8.60%
Loan Above 75 lakhs 8.60%
Loan Tenure (For NRI Home Loan , Maxgain & PAL)  Maximum 30 years or up to the age of 75 years, whichever is earlier

State Bank Of India Home Loan Features

  • Home loan for all sections of people.
  • Lower interest rates as compared other financial institutions.
  • Zero processing fees.
  • Special offer for women borrowers.
  • Flexible  home loan repayment options.
  • Nil-foreclosure charges on home loan.
  • Interest is calculated in daily-reducing basis.
  • No-hidden charges or administration fees.

State Bank Of India Home Loan Schemes 

SBI MaxGain Home Loan

SBI MaxGain home loan act as an Overdraft with add on facility to operate the Home Loan Account like Savings Account or Current Account. Bank  Cheque Book/Net Banking facility is also provided for the same by State Bank of India.

  • SBI MaxGain minimum Home Loan amount is Rs.20 lacs.

  • There is no maximum Loan Cap for SBI MaxGain.

  • This home loan product enables borrowers to keep their surplus funds or savings in SBI MaxGain Account with facility of anytime withdraw.

  • No preclosure fee for SBI MaxGain Home Loan.

  • All other terms and conditions are according to SBI home loan.

SBI Yuva Home Loan

SBI Yuva Home Loan exclusively designed for Young home loan borrowers and for first time home loan borrowers. This particular home loan is suitable for new professionals and for fresh government job holders.

  • Borrowers age should be in between 21 to 45 years, and the minimum net monthly income should be Rs.30,000.
  • SBI Yuva home loan scheme provides 20% higher loan amount.
  • SBI Yuva home loan is available to salaried employees of the private sector companies, multi-national corporations, government undertakings, and government employees.
  • Floating Rate of Interest applicable for this loan.

SBI NRI Home Loan

  • SBI NRI Home Loan is exclusively for Non-Resident Indians (NRIs) or Persons of Indian Origin(PIOs) with a regular source of Income is eligible.

  • The applicants’ employment tenure in India/Abroad should not be less than 2 years.

  • The Minimum loan amount is Rs. 3 Lakhs & there is no upper cap on maximum loan amount for SBI NRI Home Loan.

  • Other terms and conditions are in compliance with general SBI home Loan. 

SBI REALTY Home Loan

  • SBI Realty home Loan is mainly designed for customer to buy a plot and construction of a house thereon. Construction of house should start within 2 years from the date of availing the home loan.

  • The outstanding amount will be liquidated through disbursement from Home Loan, the remaining amount will be disbursed for construction of House in phases linked to the stages of construction of house.

  • Customers are also eligible to avail another Home Loan for construction of houses on the plot being financed under the SBI Realty.

  • The maximum home loan amount is Rs. 10 crores.

  • SBI Realty home loan repayment period is 15 years.

  • No preclosure fee. 

SBI Pal Home Loan (Pre-Approved Home Loan)

SBI Pal Home Loan is offered based on applicant’s income and repayment capacity. The processing fee which is to be paid at the time of loan sanction is non-refundable once paid.

  • The minimum amount of loan granted under SBI Pal Home Loan is 10 lakhs.
  • The loan will be provided according to the income credibility of the applicant.
  • Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4 months.
  • Pre-approved loan arrangement letter (PLAL) will carry the eligible loan amount calculated on the basis of prevailing interest rates.
  • Other terms and conditions are in accordance with regular SBI home loan.

SBI Tribal Plus Home Loan

SBI Tribal Plus home loan is a special home scheme exclusively designed for hilly or tribal areas. SBI tribal plus home loan helps the hilly people and the tribal people to build a house or buy a house within their choice. There is no limit on minimum loan amount and the maximum loan amount is capped at Rs.10 lakhs.

  • Repayment of SBI Tribal Plus home loan amount can be done up to 15 years.

  • Processing Charges are waived under the Gram Niwas Scheme for those who availing this loan. 

  • Other terms and conditions are in accordance with regular SBI Home Loan.

SBI Gram Niwas Home Loan

SBI Gram Niwas Home loan is granted for purchase or construction of new house, repair or renovation to an existing house. No processing fee for SBI Gram Niwas Home Loan.

  • There is no minimum limit of the loan amount but the maximum amount of loan is capped at Rs. 5 lakhs. The repayment period is up to 5 years. 
  • Rural and Semi-urban centres having a population of up to 50,000 as per 2001 census can avail this loan.

SBI Flexi-Pay Home Loan

  • 1.2 times higher loan eligibility available to working professionals / executives in comparison to normal SBI home loan. But, the amount of loan taken should be Rs.20 Lacs or higher.
  • SBI FlexiPay Home Loan are available to salaried applicants with minimum 2 years of experience and should be aged between 21 years -45 years.
  • Customers have the option of paying only interest during the moratorium (pre-EMI) period. The EMIs will be stepped-up during the subsequent years.
  • Customers have the option to choose moratorium period ranging from 36 – 60 months. Only interest can be repaid during the selected moratorium period.
  • SBI FlexiPay Home loan repayment can be done up to 25 to 30 years. There is no prepayment penalty on the home loan amount.

SBI Hamara Ghar Home Loan

SBI Hamara Ghar is a new Fixed Interest Product mainly designed for the affordable segment. SBI Hamara Ghar home loan is available in Term Loan only with fixed interest option of 2 years.

  • Pre-payment penalty will be levived at 2% along with Service Tax on foreclosure or prepayment of home loan during the initial fixed tenor of 2 years.
  • Switch-over facility from fixed interest rate to current floating rate is not available during the 2 years tenure.
  • The maximum loan amount can be availed is  Rs. 30 lakhs under SBI Hamara Ghar Home Loan.

State Bank of India Home Loan EMI Calculator

SBI HOME LOAN EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Home loan EMI within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

State Bank of India Home Loan Eligibility Criteria

  • The applicant should be at least 18 years old.

  • The maximum age to avail a loan is 70 years.

  • Income of the direct family members like spouse, son, brother etc can be included for higher SBI Home Loan amount.

  • Equitable mortgage of a property is required as security for SBI Home Loan. 

  • The applicant should have regular income from all sources for higher home loan eligibility.

State Bank of India Home Loan Documents Required
  • Completed loan application.

  • 3 Passport size photographs

  • Proof of identity (photocopies of Voters ID card/ Passport/ Driving/licence/ IT PAN card

  • Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)

  • Proof of business address for non-salaried individuals/Statement of Bank Account/ Pass Book for last six months/Signature identification from present bankers/Personal Assets and Liabilities statement

  • Personal Assets and Liabilities Statement.

  • Original Salary Certificate from the employer.

State Bank of India Home Loan FAQs

Q 1)How long will it take to get SBI home loan sanctioned?

The loan can get sanctioned within a little span of time, provided you have all the documents in place.

Q 2) Where can SBI home loan be availed?

SBI has branches across the country to cater to SBI home loan requirement of each and every customer..

Q 3) Is it possible to prepay SBI home loan?

You can prepay SBI home loan as there is no prepayment penalty applicable on State Bank Of India home-loans.

Q 4) Can joint application be made for SBI home loan?

Yes, you can jointly apply for SBI home loan.

Q 5. Is there any security required for SBI home loan?

Yes, security is required to avail SBI Home Loan. Usually, the property being financed is taken as Security towards your home loan.

State Bank of India Home Loan MCLR August 2017

Marginal Cost of Funds Based Lending Rate (MCLR) with effect from-01.01.2017

Tenure MCLR (In %)
Overnight 7.75
One Month 7.85
Three Month 7.90
Six Month 7.95
One Year 8.00
Two Years 8.10
Three Years 8.15

Latest SBI Home Loan News

(19.07.17) SBI Launches ‘SBI Realty’ Portal For Home Buyers – “State Bank of India has taken another step towards customers’ convenience by launching ‘SBI Realty’ – a one stop integrated website www.sbirealty.in for home buyers,” the bank said in a statement. India’s largest commercial bank SBI today said it has launched a dedicated portal ‘SBI Realty’ that will help home buyers to choose flats from its 3,000 approved projects across the country. SBI Realty will help customers to choose their dream home from 3,000 SBI approved projects, which are spread across 13 states and Union Territories covering 30 cities. The portal will assist customers in calculating appropriate loan amount a customer should borrow based on income and credit profile.(Sources: NDTV)

(15.07.17) SBI announces launch of a mobile app ‘SBI Loans’ – State Bank of India offers an exclusive mobile app for customers to apply for a loan for their dream homes through their Android smartphones, making it the quickest and the most convenient way of availing home loan.(Sources: Google)

(15.07.17) SBI launches initiative to speed up home loan applications – Country’s largest lender State Bank of India on Friday launched an initiative to provide doorstep services and expedite home loans application process. The initiative known as ‘Project Tatkal’ will help get the loan within 10 days after receipt of application form and relevant supporting documents, the bank said in a release. “It will bring down the average time taken for delivery of home loan to within 10 days from the date of receipt of completed home loan application form and relevant supporting documents from the customer,” the release said.(Sources: The Hindu)

(10.07.17) SBI introduces digital village initiative in Nepal The State Bank of India (SBI) has launched a digital village initiative in Nepal by installing a cash recycling centre.The cash counter enables the villagers to deposit and withdraw money through the automatic machine. The bank has also distributed 430 debit cards to the people of the locality.(Sources: livemint)

(Updated on 22.06.17) SBI Announces Mega Auction Of Properties – The bank will auction off 150 properties, including residential, commercial and agricultural land across the country, These properties were pledged as collateral for housing and business loans and were taken over by the bank under the Security and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act due to non-payment of pending dues by the borrowers. A list of the properties going for sale are given on the auction portal www.bankeauctions.com/sbi. (Sources: NDTV)

(Updated on 10.06.17)State Bank of India (SBI), country’s largest lender cut interest rate on home loans above Rs 75 lakh by 10 basis points (bps) to 8.60 percent. (Source -Internet)

(Updated on 08.06.17)Home Loans Above 75 lakhs Made Cheaper By RBI.

List of SBI Branches for Home Loan in Delhi

BRANCH ADDRESS PIN CODE
A F S,TUGHLAKABAD(NEW DELHI) TUGHLAKABAD, NEW DELHI
110062
A1 JANAK PURI  A 1/32 NEAR METRO PILLAR NO 626 JANAKPURI NAJAFGARH ROAD NEW DELHI
110058
AGCR BUILDING NEW DELHI  AGCR BUILDING I.P. ESTATE NEW DELHI
110002
AGCR ENCLAVE  270 AGCR ENCLAVE VIKAS MARG DELHI
110092
AHUJA BLDING G. K-II  M-77 M BLOCK MARKET GREATER KAILASH PART-II NEW DELHI
110048
AMBEDKAR NAGAR DAKSHINPURI NEW DELHI  AMBEDKAR NAGAR SECTOR-V DAKSHINPURI NEW DELHI
110062
AMBEDKAR NGR SECTOR-1NEW DELHI  AMBEDKAR NAGAR SECTOR-1 SECTOR- I (TIGRI) NEW DELHI
110062
ANAND VIHAR DELHI C 61 ANAND VIHAR VIKAS MARG DELHI
110092
ANSARI NAGAR(NEW DELHI)  ALL INDIA INSTITUTE OF MEDICAL SCIENCES CAMPUS ANSARI NAGAR City : NEW DELHI
110029
ASHOK VIHAR  JEET BUILDING 11 CENTRAL MARKET ASHOK VIHAR PHASE-I DELHI
110052
ASIAN GAMES VILLAGE COMPLEX  118-SHAHPUR JAT NEW DELHI
110049
AZAD MARKET DELHI AZAD MARKET CHOWK NEW DELHI
110006
AZADPUR  NEW SUBJI MANDI AZADPUR NEW DELHI
110033
B -1 JANAKPURI NEW DELHI BRANCH  B-1/44 JANAK PURI City : NEW DELHI
110058
B.K.DATA MKT RAJOURI GARDEN  A-30 VISHAL ENCLAVE OPPOSITE VISHAL CINEMA NEW DELHI – 110 027
110027
BADARPUR THERMAL POWER STN(BTPS)  NTPC TOWNSHIP BADARPUR MATHURA ROAD NEW DELHI
110044
BADARPUR(NEW DELHI)  415 MATHURA ROAD BADARPUR City : NEW DELHI
110044
BADLI(DELHI) RITHALA ROAD BADLI DELHI
110042
BASANT LOK  32 PRIYA COMPLEX VASANT VIHAR NEW DELHI
110057
BAWANA (DELHI)  NARELA ROAD BAWANA DELHI
110039
BHIKAJI CAMA PLACE BHIKAJI CAMA PLACE ANSAL CHAMBER-I NEW DELHI
110066
BIJWASAN  BIJWASAN KHASRA NO.350 BIJWASAN MAIN ROAD OPP GOLDHAM MANDIR NEW DELHI.
110061
BSF CHHAWLA  B S F HQ 25 B N CHHAWLA CAMP NAJAFGARH NEW DELHI
110071
BUNGLOW ROAD  37 BUNGLOW ROAD. KAMLA NAGAR DEHLI DIST:DELHI
110007
C A GROUP BR. NEW DELHI  11TH AND 12TH FLOOR JAWAHAR VYAPAR BHAWAN 1 TOLSTOY MARG NEW DELHI
110001
C R P F CAMPUS JHARODA KALAN  CRPF CAMP JHARODA KALAN GROUP CENTRE DELHI
110072
C-BLOCK JANAK PURI NEWDELHI  C-28 COMMUNITY CENTRE NEAR JANAK CINEMA JANAKPURI NEW DELHI
110058
CAC JANAKPURI  STATE BANK OF INDIA C BLOCK C-28 JANAKPURI NEW DELHI
110058
CASH ADMIN CELL NEW DELHI  CAC, SBI G.T. ROAD SHAHDARA BRANCH DELHI
110032
CCPC (CTS) NEW DELHI  B BLOCK, GROUND FLOOR 11, SANSAD MARG DELHI
110001
CCRAS NEWDELHI CCRAS CENT COUN FOR RESER IN AYURV AND SCIENC JLNBCAHAB PLOT 61TO65 JANKIPURINEW DELH
110058
CENT. ORD DEPOT SHAKURBASTI  ORDNANCE DEPOT SHAKURBASTI NEW DELHI
110056
CENTAUR HOTEL  I G I AIRPORT CENTAUR HOTEL NEW DELHI
110037
CENTRAL MARKET LAJPATNAGAR II  C-18, CENTRAL MARKET LAJPAT NAGAR-II City : NEW DELHI
110024
CENTRAL ROAD RESEARCH INST NEW DELHI  CENTRAL ROAD RESEARCH INSTITUTE CAMPUS MATHURA ROAD NEW DELHI
110025
CENTRAL SECRETARIAT (N.DELHI)  NORTH BLOCK NEW DELHI CENTRAL SECRETARIAT (N.DELHI) NEW DEL
110001
CGO COMPLEX, LODHI ESTATE  LODHI ESTATE CGO COMPLEX NEW DELHI
110003
CHANDRALOK BUILDING JANPATH  FIRST FLOOR PODIUM BLOCK NEW DELHI
110001
CHAUKHANDI (NEW DELHI)  CHAUKHANDI TILAK NAGAR NEW DELHI
110018
CHITTARANJAN PARK  B-107 C.R.PARK NEW DELHI INDIA
110019
CLOCK TOWER SUBZI MANDI  921 CLOCK TOWER SABZI MANDI DELHI
110007
COMM. BR CONNAUGHT PLACE  COMMERCIAL BR NEW DELHI M-47 CONNAUGHT CIRCUS NEW DELHI
110001
COMM. BR. NARAINA  59,COMMUNITY CENTRE, NARAINA INDUSTRIAL AREA , PHASE-1, NEW DELHI
110028