SBI Home Loan
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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
Home Loan Calculator
Home Loan Calculator
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Eligible for EMI Amount: ₹0.00
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Principal Amount: ₹0.00
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Interest Amount: ₹0.00
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