SBI HOME LOAN – Review, Details, Features


Taking a home loan is a biggest financial decision in anyone’s life as this is the longest debt in our life. In this article, we are going to review SBI Home Loan and its features.

Features of SBI home loan

  1. SBI is India’s largest Public sector bank and it is one of the most trusted Brand in the Banking sector.
  2. SBI Home Loan Interest Rates are always lowest among all the banks in India.
  3. SBI Home loans have the most effective schemes as compared to other home loans in our country.
  4. SBI’s legal verification process is one of the best in the industry. SBI Home Loan is approved after strict and thorough due diligence and it may delay in your home loan processing.

Documents required for SBI home loan

• Identity proof

• Passport photograph

• Residence proof

• PAN card

• Bank account statement

• Copy of IT return (if self-employed)

• Salary slip (if salaried)

Advantages of SBI Home Loan

Low EMI’s – SBI loans have a very low EMI when it is compared to other banks or private finance companies in India

Low-Interest rates – SBI home loans have very less interest rates also they provide long payback years facility.

Switchover facility – You can switch your existing home loan from another bank to save money, by paying lesser interest rates and fees.

Type of Loan Minimum Amount. Maximum Amount. Nature of loan. Interest Rate.
SBI Maxgain Rs 20 Lakhs No cap Loan in the form of overdraft like savings or current account. 0.25% above the prevailing interest rate.
SBI Yuva Home loan Rs 5 Lakhs 10 Crore Loan given to salaried, Private Sector, Companies/MNCs/Government Undertakings/PSUs & the Government employees. General rate .
Home loan for NRI Rs 3 Lakhs No cap Minimum tenure abroad 2 years. 8 – 11%.
SBI Realty Nil 10 Crores For construction of a dwelling unit. General rate.
SBI Tribal Plus Nil 10 Lakhs Home loan for hilly or tribal areas. General rate.
Gram Nivas Nil 5 Lakhs Home loan for rural areas. General rate.
Sahyog Nivas Nil Rs 5K per member Loan for self-help groups in rural areas. General rate .


Even though SBI home loan interest rate is less compared to other borrowers. It is always advisable to approach 3 to 4 banks before you apply for your Home Loan.

Most of the Indian’s general perception is that SBI Home Loan is the most transparent among all other banks but it not true.

SBI’s processing fees are the highest among most of the top banks in India.

It has very stringent Home Loan Eligibility and it’s home loan processing is little bit slow compared to private banks like HDFC and ICICI.

Even though people say SBI takes time in processing and payments, it is the trust which keeps customers happy with SBI.

What is your experience with SBI Home loan? Do share your views and reviews in the comment section.

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