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SBI Home Loan Interest Rate 2025

By Mayashree Acharya

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Updated on: Dec 31st, 2024

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9 min read

State Bank of India offers several home loan schemes for various purposes. Since real estate usually has an appreciating value, owning a house is an excellent idea both from an owner’s point of view as well as from an investor’s point of view. With the loan amount being up to 90% of the property cost and the interest rates ranging from 8.50% p.a. - 10.15% p.a., SBI presents a convenient way to fulfil your dreams with the SBI Home Loan.

Highlights of SBI home loan interest rates

SBI Home Loan Amount 

Up to 90% of property cost

SBI Housing Loan Interest Rate

8.50% p.a. - 10.15% p.a. 

Loan Tenure

Up to 30 years

Processing Fees

0.25% of the loan amount

Foreclosure Charges

NIL

SBI Home Loan Interest Rates for Women 

Concession is given for women in many loan schemes 

Current SBI home loan interest rates

Home Loan (TL)

8.50% to 9.65%

Home Loan Maxgain (OD)

8.70% to 9.85%

Tribal Plus Home Loan

8.60% to 9.55%

Top-Up Loan

8.80% to 9.95%

Top-Up (OD) Loan

9.00% to 9.95%

P-LAP Loan

10.00% to 11.30%

Reverse Mortgage Loan

11.55%

YONO Insta Home Top-Up Loan

9.35%

All Home Loans are linked to the External Benchmark Rate (EBLR). 

EBLR = 9.15%

RBI Repo Rate (6.50%) + Spread(2.65%)

Interest rates based on CIBIL score

CIBIL Score

Interest Rates

More than or equal to 800

9.15%

750-799

9.25%

700-749

9.35%

650-699

9.45%

550-649

9.65%

New to credit/no CIBIL Score/-1

9.35%

Comparison between SBI home loan interest rates with other banks

Banks

Home Loan Interest Rates

State Bank of India

8.50% p.a to 10.45% p.a

Axis Bank

8.75% p.a to 9.15% p.a

Bank of Baroda

From 8.4% p.a

Punjab National Bank

From 8.50% p.a

HDFC Bank Limited

8/75% p.a to 9.40% p.a

ICICI Bank

9.25% onwards

Citi Bank

From 7.45% p.a

LIC Housing Finance

8.50%-10.35%

Kotak Mahindra Bank

From 8.70%

Federal Bank

10.15% - 10.20%

Top home loan schemes of SBI

Home Loan Scheme

Description

SBI Regular Home Loan

A home loan with a repayment tenure of up to 30 years; interest is calculated on a daily reducing balance.

SBI NRI Home Loan

NRIs can avail of home loans to invest in properties in India.

SBI Flexipay Home Loan

Salaried employees can get a 20% higher loan amount and get the option to pay only interest during the moratorium period and pay moderated EMIs thereafter.

SBI Shaurya Home Loan

Dedicated to army and defence personnel, this scheme comes with lower rates, ease of repayment options and longer repayment tenure.

SBI Home Top Up Loan

Borrow a loan amount over and above the current home loan if you need more funding. It can be availed for any personal purpose since the interest rates are much lower than that of personal loans.

SBI Smart Home Top Up Loan

This is a general-purpose loan to meet urgent requirements, such as education, marriage, renovation, repair, furnishing, etc.

SBI YONO Insta Home Top-Up Loan

The scheme is only available for pre-selected home loan customers over yono mobile app

SBI Corporate Home Loan

Corporate entities can avail the loan for the construction or acquisition of residential units in the company’s name to use directors, promoters, and employees.

SBI Tribal Plus

Purchase or construction of a new house/flat without having to mortgage the land, purchase of an existing house/flat which is not more than 10 years old, and repair/renovation/extension of a current house or flat.

SBI Reverse Mortgage Loan

The scheme provides additional income for senior citizens who have self-acquired, self-occupied homes in India but do not have enough income to support themselves. Payments will be made against the mortgage of the residential property.

SBI Loan against Property (P-LAP)

Get a loan against property for serving personal matters. The loan is not provided for business purposes.

SBI Maxgain

This is an overdraft facility that comes with the usual EMI repayment structure. The overdraft limit will be reduced every month. 

SBI home loan interest rates for government employees

SBI offers a special home loan scheme for government employees - SBI Privilege - Home Loan for Government Employees. Employees who are part of the Central or State Government or who have pensionable services can apply for this loan. It provides interest charges on daily reducing balances and an interest concession for women. Home loan interest rates start from 8.50%, and their processing fee has a 50% concession or 100% concession in selected cases. 

Features and benefits of SBI home loan

  • SBI home loans are available for both salaried and self-employed.
  • Special rates are offered for women customers.
  • Property for purchase will be taken as a mortgage of property.
  • The loan-to-value ratio can be up to 90%.
  • Tenure of loan can range from 5 years to 30 years.
  • Interest rates range from 6.80% p.a. to 7.50% p.a.

Who is eligible for SBI home loans

  • Resident Type: Resident Indian
  • Age: 18 years – 70 years
  • Loan Tenure: Up to 30 years

Documents required for SBI home loans

List of papers/documents applicable to all applicants:

  • Duly filled loan application form duly filled in affixed with three passport size photographs.
  • Employer Identity Card.
  • Proof of Identity:
    • PAN
    • Passport
    • Driver’s License
    • Voter ID Card
  • Proof of Address:
    • A recent copy of telephone bill/electricity bill/water bill/piped gas bill.
    • Copy of passport/driving license/Aadhaar card.

Property papers:

  • Permission for construction.
  • Registered agreement for sale (only for Maharashtra)/allotment letter/stamped agreement for sale.
  • Occupancy certificate (in case of ready to move property).
  • Share certificate (only for Maharashtra), maintenance bill, electricity bill, property tax receipt.
  • Approved plan copy (blueprint) and registered development agreement of the builder and conveyance deed (for a new property).
  • Payment receipts or bank A/C statement showing all the payments made to the builder/seller.

Account statement:

  • Last six months bank account statements for all bank accounts held by the applicant/s.
  • If any previous loan from other banks/lenders, then loan A/C statement for the last year.

Income proof for salaried applicant/co-applicant/guarantor:

  • Salary slip or salary certificate for the last three months.
  • Copy of Form 16 for the last two years or copy of IT Returns for the last two financial years, acknowledged by the IT department.

Income proof for non-salaried applicant/co-applicant/guarantor:

  • Business address proof.
  • IT returns for the last three years.
  • Balance sheet and profit and loss A/c for the last three years.
  • Business license details (or equivalent).
  • TDS Certificate (Form 16A, if applicable).
  • Certificate of qualification (for C.A./ Doctor and other professionals).

Documents from the other bank:

  • List of original documents held at the bank.
  • Loan a/c statement for the past year.
  • Sanction letter.
  • Interim Period Security.

Fees and charges

Processing fee (including advocate fee and valuer fee)

0.40% of the loan amount + GST Can range from Rs.10,000 to Rs.30,000 + GST

SBI Home loan EMI calculator

Usually, the home loan is a significant amount taken for a longer period upon which interest is levied. An important tool like SBI Home Loan EMI Calculator helps you evaluate and plan your budget.

SBI home loan interest rate history

Year

Interest Rate

2024

8.50% - 11.55% p.a 

2023

8.00% - 8.75% p.a 

2022

8.05% - 8.25% p.a 

2021

6.80% - 7.15% p.a. 

2020

7.20% - 7.55% p.a. 

Similar Banks Offering Home Loan:
Lowest Home Loan Interest Rate
Yes Bank Home Loan Interest Rate
Punjab Bank Home Loan Interest Rate
IDBI Bank Home Loan Interest Rate
CitiBank Home Loan Interest Rate
Kotak Bank Home Loan Interest Rate
Axis Bank Home Loan Interest Rate
ICICI Bank Home Loan Interest Rate
HDFC Bank Home Loan Interest Rate
Union Bank of India Home Loan Interest Rate
Central Bank of India Home Loan Interest Rate

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Frequently Asked Questions

Does my salary influence the loan amount?

Yes. One of the factors that influence the decision on loan amount is your salary or your monthly income. The loan amount is determined based on the EMI you can afford to pay and your take-home salary after taxes and other payroll deductions. The EMI to NMI ratio may vary from 20%-70% for various net annual income slabs. You can include a co-applicant to receive a higher loan amount.

Is there a specific timeline for the disbursement of the loan amount?

Generally, the bank takes 3-10 days after submitting the complete documentation required by the bank and after completing all the necessary procedures.

Should I pledge anything to get the home loan?

You need not pledge anything else to get a home loan as the bank will consider the property you intend to purchase itself as a mortgage. Suppose the property cannot be provided as a mortgage in exceptional cases. In that case, other tangible security will be required, and the title of the property should be clear, as stated by the bank’s advocate.

Do women applicants get a concessional interest rate?

Women applicants can get a concessional rate of interest under most of the SBI home loan schemes such as General Home Loan, Home Loan Take Over-Balance Transfer, SBI Flexipay Home Loan, SBI Realty, etc.

How to reduce SBI home loan interest rate?

There are multiple ways you can reduce your home loan interest rates. Some of the most common ways to reduce the interest rate payment are as follows:

  • Opting for a shorter tenure
  • Increasing your EMI 
  • Home loan bank balance transfer to another bank
  • Paying more as down payment 
  • Switching to Repo Rate Linked Lending Rate (RLLR) from Marginal Cost of Funds based Lending Rate (MCLR), as RLLR has a lower rate. 
  • Request the bank for a lower/ concession in interest rate if your credit scores is above 750
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About the Author
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Mayashree Acharya

Senior Content Writer
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I am an advocate by profession and have a keen interest in writing. I write articles in various categories, from legal, business, personal finance, and investments to government schemes. I put words in a simplified manner and write easy-to-understand articles. Read more

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