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

 

(Updated on 01.12.17) SBI Home Loan – Get Lowest EMI Per Lakh, SBI Offering 8.30% Interest Rates on Home Loan, Calculate your EMI with SBI Home Loan EMI Calculator Eligibility.

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Disclaimer: We do not provide Home Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

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 customised 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. 01 November 2017

For Women (Up to 30 lakhs) 8.30%
For Others (up to 30 lakhs) 8.35% 
Loan upto 75 lakhs  8.35% (Salaried Women) and others for 8.40%
Loan Above 75 lakhs 8.40% (Salaried Women) and others for 8.45%
Repayment :   (For NRI Home Loan , Maxgain & PAL)  Maximum 30 years or up to the age of 70 years, whichever is earlier

For Realty upto 15 years

FEES INCLUDES:-

Pre-Sanction:

  • Advocate’s fee for legal opinion, valuers fee for valuation report.

Post-Sanction:

  • Stamp duty is payable for loan agreement & mortgage. Also property insurance premium is applicable.
  • CERSAI Registration fees of Rs.50/- + Service tax up to Rs. 5 Lacs limit & Rs.100/- + Service tax for limits above Rs. 5 lacs.

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 Feature

  • Home loans available as overdraft.
  • Lower interest rates as compared other financial institutions.
  • Minimal processing fees.
  • Special offer for women borrowers.
  • Flexible home loan repayment options with no pre-payment penalty.
  • Nil-foreclosure charges on home loan.
  • Interest is calculated in daily-reducing balance.
  • No-hidden charges or administration fees.


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 Schemes 

SBI MAX GAIN HOME LOAN

SBI MaxGain home loan act as an Overdraft with add on flexibility 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 with no maximum loan cap.

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

  • No pre-closure 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 5 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 pre-closure 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 details 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.
  • Loan is sanctioned for purchase or construction of a new house or flat (without mortgage of land)/ purchase of in existing house which is not more than 10 years.
  • Loan is also available for repair/renovation/extension of existing house or flat.
  • Repayment of SBI Tribal Plus home loan amount can be done up to 15 years.

      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 loan amount should be Rs.20 Lacs or higher.
  • SBI Flexi-Pay 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 Flexi-Pay 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. It is available in Term Loan only with fixed interest option of 2 years.

  • Pre-payment penalty will be levied 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 linked to 1 year MCLR  is not available during the 2 years tenure.
  • The maximum loan amount can be availed is  Rs. 30 lakhs.


SBI PRIVILEGE HOME LOAN & SBI SHAURYA HOME LOAN

For Privilege – Employees of Central/State Government including PSBs, PSUs of Central Government. Other individual(s) with pensionable service are eligible to apply.

For Shaurya – Defence personnel belonging to Army, Navy & Air Force are eligible to apply.

  • Lower EMIs would be services during the post retirement term which are capped at 50% of the current Net Monthly Income.
  • Option of extended upto the age of 75 years.
  • The maximum loan tenure is capped at 30 years.
  • Concession of 5 bps over the home loan card interest rate where check-off facility is extended by the government.
  • Processing fees is zero.
  • Options for customer of other Banks / FI to switch over home loan outstanding balance to SBI.

SBI HOME LOAN NEW PRODUCT

SBI BRIDGE LOAN

Individual(s) who own a fully constructed house/flat of his/her own & intend to sell the existing house/flat due to shortfall of money. Also,In case of joint ownership, all co-owners should join as co-borrowers.

  • Minimum age to enter is 18 years & upto 70 years.
  • Minimum loan amount to get sanctioned is 20 lacs upto a maximum of Rs.2 crores.
  • SBI Bridge Loan is a short term loan (Max tenor of 2 years) to meet the shortfall in funds for a purchase of a new home/flat by mortgaging existing free of debt property.
  • The loan has to be repaid within the tenure period in one or more instalments with no pre-payment charges.
  • No overdraft facility is available.
  • LTV & Permissible loan amount is; 65% (if market value of the existing property is upto Rs.1 Crore.) ; 60% (if market value of the existing property is above Rs.1 Crore) ; 90% of the cost of the proposed home/flat.
Interest Rates Bridge Home Loan
Tenure Effective Rate
First Year 10.45% p.a
Second Year 11.45% p.a

 

HER GHAR HOME LOAN

The loan provided is especially for women.

  • The eligibility criteria under the scheme is that the women should be the sole applicant for one of the co-workers of the property proposed to be financed by the bank.
  • The interest rate is fixed at 9.40% (EMI Rs.834/- per lac for a period of 30 years.)

SBI RELATED HOME LOAN PRODUCTS

SBI TOP UP HOME LOAN

  • The minimum loan amount sanctioned under the scheme is Rs. 2 Lacs with a maximum of Rs. 5 Crore.
  • When the loan amount is up to Rs. 75 Lacs, The permissible loan amount calculated will be at 80% of the present market value of the house property less present outstanding in the home loan amount.
  • When the loan amount is above 75 Lacs, The permissible loan amount calculated will bat 75% of the present market value of the house property less present outstanding in the home account.
  • The borrower should have satisfactory re-payment track record of at least year & a valid mortgage should have been created in favour of the bank.
  • Processing fees is applicable at 0.35% of the loan amount (Minimum – Rs. 2000/- & Maximum – Rs. 10,000/-)State Bank of India Home Loan Documents Required

INTEREST RATE SBI HOME LOAN TOP-UP

Home Top-Up Loan
Salaried
Category Upto 20 lacs Above ₹ 20 lakhs & upto ₹ 1 Crore Above ₹ 1 Crore & upto ₹ 2 Crore
Women 8.35-8.45% p.a 8.55-8.65% p.a 8.65-8.75% p.a
Non-Salaried
Others 8.45-8.55% p.a 8.65-8.75% p.a 8.75-8.85% p.a

 

Home Top-Up Loan as Overdraft
Salaried
Category Above ₹ 20 Lakhs & Upto ₹ 1 Crore Above ₹ 1 Crore & upto ₹ 2 Crore
Women 9.25-9.35% p.a 9.45-9.55% p.a
Non-Salaried
Others 9.35-9.45% p.a 9.55-9.65% p.a

SBI REVERSE MORTGAGE LOAN

This loan is for house – owing senior citizens in india who can avail the loan in the situation of inadequate money for renovation / repair to house or for any other personal need.

  • No compulsion for the borrower to repay the loan till the time he/she continues to stay in the house.
  • No pre-payment penalty of the borrower wishes to pre-pay the loan.
  • Interest rate will be 2.75% above the one year MCLR. (Present effective rate is 11.90% p.a)
    • Processing fees is 0.50% of the loan amount (Minimum – Rs. 500/- & Maximum – Rs. 10,000/-)
  • Disbursement can be either in Monthly/Quarterly payments or 50% of the sanctioned limit in lumpsum & remaining in periodic payments.

*Subject to reset every year.

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).

Income Proof for Salaried applicants / Co-applicant / Guarantor :-

  • Current Salary Slip.
  • Copy of form 16 for last 2 years or the copy of IT Returns for last 2 financial years, acknowledged.

Income Proof for Non-Salaried / Co-applicant / Guarantor :-

  • IT Returns for last 3 years.
  • Balance Sheet, Profit & Loss A/C for 3 years.
  • Business license details
  • TDS Certificate (From 16A, if applicable)
  • Certificate of Qualification.
  • Also, All the property papers required by the bank should be kept handy.

State Bank of India Home Loan FAQs

The loan can get sanctioned within a little span of time, provided you have all the documents in place.
SBI has branches across the country to cater to SBI home loan requirement of each and every customer.
You can prepay SBI home loan as there is no prepayment penalty applicable on State Bank Of India home-loans.
Yes, you can jointly apply 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 December 2017

Marginal Cost of Funds Based Lending Rate (MCLR) with effect from-01.11.2017

Tenure MCLR (In %)
Overnight 7.70
One Month 7.80
Three Month 7.85
Six Month 7.90
One Year 7.95
Two Years 8.05
Three Years 8.10

Latest SBI Home Loan News

1) SBI aims to raise ₹ 2.5k Crore via general insurance arm’s listing by divesting 20% in SBI General, based on its current performance. According to the officials, the listing would help to meet capital requirements. SBI General made a profit of ₹ 301 Crore in the first half of the financial year with one-time gain of ₹ 170 crore from an earlier reinsurance agreement.

2) SBI recently asked there customers to submit Aadhaar number and PAN Card number by 31st December, 2017. According to the latest rule implemented by all the banks, it is compulsory to link Aadhaar card and PAN number with the bank accounts. The announcement made it clear that as per the amended PML rules dated on 1st June 2017, all existing customers are bound to do the same before the last date, failing which the account shall be ceased and will not be operational until the proofs have been submitted.

3) State Bank of India reduced it’s interest rates on Home Loan and Car Loan: Home loan is offered starting at 8.30% and auto loans at 8.70% per annum. With this reduction, SBI’s offering in home loan is the lowest in the market. The new rates will be effective from November 01, 2017.

The effective interest rates for all the eligible salaried customers will be 8.30% per annum for loans up to ₹ 30 Lakhs

For car loans, the loan interest ranges from 8.70% to 9.20% per annum.

4) The State Bank of India on 29th October, 2017 signed a Memorandum of Understanding (MoU) with SKDRDP (Shree Kshetra Dharmasthala Rural Development Project) which is an NGO. It will facilitate cashless transaction between SKDRDP and 12 Lakh members of Self – Help Groups (SHGs). The banks will be developing an application for the intermediaries and the app will be positively coming by November in the market. Praveen Kumar Gupta said that the 12 Lakh SHG members will be getting RuPay Debit Cards.

5) The State Bank of India (SBI) will soon finance affordable housing under the State’s slum rehabilitation schemes. SBI is in the view of signing the pact with the Maharashtra government-owned PSU (Public Sector Undertaking), Shivshahi Purnarvasan Prakalp (SPPL).

The step will encourage the growth of the economy and also the need to provide pucca houses to all the slum dwellers. Maharashtra is amongst the top cities to have large slum areas. The government is making sure to take every crucial step to make the state slum free by the coming years.

State Bank of India will make available funds for the construction of affordable housing tenements under the slum rehabilitation schemes, including the Dharavi Redevelopment Project, of the Maharashtra government.

6) State Bank of India is all set for the increasing home loan demand. A growth of 13.92% was seen in the bank’s housing loan book at the end of June. The biggest lender, SBI recently waived the processing fee on home loans. There is a decrements in the interest rates which is the lowest amongst other banks & financial institution. For loans up to ₹ 30 lakhs there is a offer of availing 8.35% interest. Processing fees was not only waived on home loans but also top – up loans in which the interest rates are somewhat same to the home loan rates.

SBI ‘Hamara Ghar’ & SBI ‘Realty’ are such schemes that are introduced by SBI in order to give it’s customers unique housing facilities. Now customers can avail loan at minimal interest rates & great privileges.

 

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