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SBI Housing Loan

SBI Housing Loan is one of the best available home loans that first time home buyers and low income borrowers can get in India. State Bank of India is voted as the "The Most Preferred Home Loan Providers" in Awaaz Consumer Awards. The bank has also won the "The Most Preferred Bank Award" according to the survey initiated by TV 18. SBI Bank Housing Loans are available at competitive interest rates and they come with solid transparency in their terms and conditions. State Bank of India housing loan offers a number of advantages that include;
  • Lowest possible interest rates
  • Loan package with exclusive benefits
  • Low processing fees
  • No hidden fees or administrative charges
  • No prepayment penalties
  • Over 12000 bank branches to bank with, etc

SBI Housing Loan Interest Rate

Housing finance loan offered by State Bank has the most affordable rates in the country. Borrowers can either choose to lock the loan interest rate for the overall loan term or keep open interest option by linking to SBI's Term Lending rate. The bank offer options where borrowers can obtain a housing loan with fixed interest rate or avail a floating rate in which the interest may either increase or decrease depending on certain factors. On the other hand, the Short Term Housing Loan Scheme offered by SBI Bank carries lower rate of interest for loan options with repayment period of up to 5years.

SBI Housing Loan Scheme

An eligible borrower can get a housing loan scheme from State Bank of India for a number of purposes. For instance, he or she can use the loan amount to buy or build a new house. The borrower can further purchase an existing house or a flat by using the housing loan amount. Moreover, one can make extension, renovation, repair or alteration of the house or the flat with the help of the proceeds of the loan. SBI housing loan in India comes with lower costs and excellent services. These loan schemes are available in most of the Indian States and cities including Chennai, Mumbai, Delhi, Bangalore, Kolkata, Hyderabad and many more.

SBI Bank Housing Loan Eligibility and Loan Process

It is necessary for the borrowers to check the loan application procedure and the loan eligibility details before making any application to the bank. To be eligible for a housing loan from SBI, the borrower is required to be above the age of 21 years and have a stable source of income. Applicants should furnish several documents together with the duly filled application form. SBI housing loan application form is easily available at the nearest branch of the bank or one can download it from the bank's website. Documents to be submitted with the application form are;
  • Passport size photograph
  • Residence proof (for non-bank customers only)
  • Sale Deed or Agreement of Sale
  • Bank account statement for past six months
  • Salary proof (for employees)
  • Any information to proof repaying capacity
  • IT returns for past three years and receipts of advance tax (for self employed and IT assesses).
It is advisable for the home buyers to use the Housing loan EMI calculator to compute and compare the equated monthly installments and the overall payments of several loan options. For more information on SBI housing loan for NRI, loan insurance and loan status, talk to the home loan customer care representatives of the bank by calling at 1800112211.
State Bank of India offer low rate housing finance loans for low and middle income families in the country. Check the eligibility conditions of the loan terms.



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