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SBI Home Loan

State Bank of India (SBI) is the oldest commercial multinational bank of the Indian sub-continent and this is the reason that for many people it is the most reliable bank. Availing a home loan from SBI means that you are getting your house money financed through the most trusted public bank of India. The bank has special features to offer to everyone, with customized products.

Features of SBI Home Loan

  • An extensive network of branches PAN India
  • Low processing fees
  • Use your extra funds to prepay the loan without extra cost
  • Transparent pricing
  • No administrative charges
  • Affordable Interest
  • Customer friendly products
  • Swift actions
  • Instantly check your eligibility
  • Apply loan online

Benefits of SBI Home Loan

  • The processing fees are same as that of a personal loan.
  • Various types of loans tailored to everyone's needs.
  • Interest on daily reducing balance.
  • Network of more than 13000 branches plus 5 associate banks.
  • Combine your income and your close relative's to get loan easily.
  • Doorstep service.
  • Quick disbursal.
  • India's most trusted bank

Home Loan Balance Transfer to SBI – Takeover of Home Loans

Banks often introduce new policies with lucrative rates of interests for its new customers. This sometimes makes the existing customers feel left out where they think they are paying the extra higher amount. Thus, the need for the takeover of home loan arises. This is nothing but a feature to shift your home loan from one bank to another. With lucrative interest rates of SBI Home loans, you can now transfer your home loans to SBI too. In this, the pre-payment penalty is funded.

Benefits

  • Lower rate of interests
  • Extended tenure to repay loan
  • Get extra loan for extension, improvement, renovation of house
  • Takeover of Home Loan with Top up loan allowed

From where can you transfer the loan?

  • Private and Foreign Banks
  • Scheduled Commercial Banks (SCBs)
  • Borrowers from Central/State Govts. or their undertakings or the Public Sector Undertakings
  • Housing Finance Companies (HFCs) registered under National Housing Bank (NHB)

SBI Home Loan for Women - Her Ghar

The State bank of India realizes the need for women empowerment. They believe that it is not just a man can buy a land or a property, but also a woman who can do the same. And so, at SBI, women are valued. The bank has a home loan scheme specially designed for women and their convenience.
The scheme is called 'Her Ghar' which aptly justifies its purpose.

Features and Benefits of SBI Her Ghar Home Loan

  • The loan is specially designed for women
  • The concessional interest rate is 9.40% (EMI INR 834/ INR 100,000 for a period of 30 years)
  • Easy repayment options: Loan can be extended to 30 years
  • Doorstep facility
  • Easy documentation
  • Joint women owners can also apply as first applicants
  • Loan can be used to buy a second-hand property as well

Security

An equitable mortgage property will be the security.

Loan Value Margin

Loan Value

Margin

Up to INR 2 million

10%

INR 2 million to INR 7.5 million

20%

Above INR 7.5 million

25%

SBI Loan for Earnest Money Deposit Scheme

You would have often seen advertisements of government agencies like as Urban Development Authorities and Housing Boards, where they offer affordable housing to individuals. This is like a lucky draw in which the selected winners get a house. If you are lucky enough then you can get your name on the list. For this, you will have to pay roughly 10-20% of the amount of the property as Earnest Money Deposit (EMD). To finance this amount of Earnest Money Deposit (EMD), SBI has come up with this loan scheme which is called Loan for Earnest Money Deposit Scheme.

Features and Benefits

  • The government approved housing projects are funded
  • Margin is waived in all the cases
  • There is no criterion for minimum income of the applicant
  • Minimum documentation to help the customers
  • Choice to return the loan amount by the proceeds of housing loan by the bank itself
  • No application fee is levied
  • No administrative charges are levied

Maximum Loan Amount

The loan amount will be given which is the least of the following options:

  • INR 100,000 as Earnest Money Deposit (EMD)
  • 90% of application cost
  • 10 times the Net Monthly Income of the applicant

These hold true only if the following points are met:

  1. A person can avail the loan basis only one application.
  2. Incomes of all the applicants will be considered if all have applied as co-applicants.
  3. Allotment papers should be forwarded by the SBI bank.

Security

Any third party guarantee would work which is trustable and good enough for the amount of loan waived.

Securities that are tangible in nature like NSCs/ IVPs/ TDRs/ LIC policy/ SBI Life policy, etc. which at least holds value of 50% of the loan availed. This is for permanent employees working in decent public and private organizations.

Disbursement

The loan will be disbursed by the issuance of a cheque or a draft by the bank in favour of the government housing agency which is concerned.

SBI Home Loan Tribal Plus Scheme

SBI believes that it is very important to take along every community and sect along to achieve the goal for development. So, the Tribal Plus Scheme was introduced by the bank to work for the welfare of people living in the hilly or tribal areas of North East India and areas coming in the vicinity of Chandigarh, Bhopal, Lucknow, Patna and Bhubaneswar. The loan is given to the individuals to buy homes or flats. Applicants can also buy old homes or flats not more than 10 years of age. The applicants can also apply for the loan if they want home extension, or improvement or renovation.

Features and Benefits

  • Lowest rates of interest on home loans.
  • Interest rate calculated on daily reducing basis and charged on monthly basis.
  • As compared to 1% to 3% processing fees charges of other banks, SBI gets your loan processed at only 1% processing fees.
  • No pre payment penalty is levied. So, if you want to pre pay your loan using the extra amount you have, you can do that and reduce your burden.
  • No hidden costs.
  • No administrative charges.
  • Full transparency.
  • Minimum documentation.
  • Easy and quick process.
  • No need of security land or things.
  • Eligibility can be enhanced by showing the income of the spouse who should be a permanent employee with Government / PSU / Private Sector unit. The unit must guarantee the person.
  • The maximum loan amount sanctioned is INR 500,000.
  • The loan is calculated by taking the monthly income and multiplying it by 24.

Loan Margin

The maximum loan margin is 25%.

Loan Disbursement

In case the house or flat is bought, the loan can be disbursed at one time. In case the construction of the loan is taking place, the loan might be disbursed in parts as the construction shows signs of progress.

Security

No security will be required. A guarantee will be sought as per bank's existing norms.

Repayment Schedule

  • The loan is to be paid over a period of 10 years maximum.
  • The loan to be paid through Equated monthly installments (EMIs)
  • The repayment period will include the construction period or 12 months from the disbursement of the first installment of the loan, the one that is first.

MOST IMPORTANT TERMS AND CONDITIONS FOR SBI HOME LOANS

Purpose of loan: The loan can be sanctioned if the applicant has applied for the purchase/improvement/construction/extension/renovation/repair/ of a property which is new/second-hand residential house/flat/plot of land or the purchase of
consumer durables/furnishings.

The premium: The premium of the home loan covered (optional) will be charged in the loan amount if availed by the customer.

Loan to value ratio: For loans below 2 million, the ratio is 90% maximum.
For loans more than 2 million, the ratio is 80% maximum.

The rate of interest: The interest can be regulated if there is change in the base rates and in that case, the bank can increase or decrease the EMI amount or can extend or reduce the loan tenure.

The change in rates: The revised rates of interests are shown on the notice boards of the bank branches or updated in the newspapers or in the passbook/statement of account. The customer is supposed to know this and pay the EMI as per the revised interest.

Unpaid EMIs: In that case, the bank holds the authority to levy a rate 2% higher than the normal rate in case of more than 30 days of non-payment of EMI or in case the cheque submitted is bounced. Also, a penalty of INR 250 will have to be submitted by the customer for depositing a cheque which bounced.

Loan duration: The maximum loan tenor is 30 years or age of the customer being 70 years, whichever comes earlier.

Security or collateral: If these are to be accepted by the bank, the security will be the land that is financed by the bank. Bank can also take the collateral in the form of Life Insurance policies, shares/ debenture, Government Promissory Notes, gold jewellery, etc.

Insurance: The loan must be insured against any untoward accident like fire, flood, earthquake, etc and the beneficiaries must be the bank and the borrower jointly.

Use of loan: The loan must be strictly used for the purpose that is mentioned in the application form by the customer and should be agreed upon by the bank and the borrower.

Inspection: The bank can inspect and detect the place against which the loan is incurred at the reasonable times. The visit will be made by a bank authorized officer or a befitting adult selected by the bank.

Defaulter: In case the loan is not paid by the due date, reminders will be sent to the customer. After this, a third party representative will be the jurisdiction who will have to follow the norms of the Indian Banks Association (IBA) on debt collection.

Why should you choose SBI Home Loan?

The foremost thing for the SBI Home loan is the trust towards the bank. The Brand Trust Report 2015 recognized as the SBI as the most trusted bank. This is because that it is a government managed bank and hence, safer than other banks in case of bankruptcy. The CASA ratio is among the bests among other banks, this means that rates of interests are lower. This is also because of the scale of operation. As per the home loan book value, the SBI is the largest home loan provider. The other banks follow the trends that are incorporated by the SBI. The NPAs of the bank are under controlled and this goes down to the fact that the bank performs a strict inspection before releasing the home loan. Therefore, there are chances that no legal issue will arise later. Also, since SBI is one of the oldest and most trusted banks, chances are that you or anyone of your family has a bank account in the SBI. This means that you might be in friendly relations with the staff and the manager where it can be easy to understand the processes of the loan.

How to apply for the SBI Home Loan?

You can easily apply for the SBI home loan by availing the facility through Finance Buddha. At Finance Buddha, you are working on a one stop destination to all your home loan queries. You can compare the loan eligibility, interest rate, documentation, security required, customer rating and reviews from all the prominent banks and frequently asked questions by other loan seekers like you and have your questions answered.

The eligibility calculator is easy to operate and requires very basic information to calculate your eligibility. What more? The attractive and comfortable user interface will prompt you to use the website more often and quickly. Also, the best part is that you can avoid the chances of going to the bank and getting your loan application rejected, which can affect your CIBIL score too. This can be done when you decide to check your eligibility through Finance Buddha. Also, you can directly apply through our website which cuts short your expenses of travelling to the bank and taking a day off from work. At Finance Buddha, we put the customers first. Make your loan experience pleasant and apply through our 100% safe and secure website. Don't worry, your details will not be disclosed to anyone and will be used just to check your eligibility.

SBI Home Loan Eligibility Criteria

The SBI Home Loans come with easy to meet eligibility criteria:
Minimum Age: 18 years when the loan is sanctioned.
Maximum Age: 70 years where the income over the years is assured.
Loan Amount: In most of the home loan plans, the maximum loan is not fixed. The amount of loan sanctioned depends on the following factors:

  1. Income of applicant
  2. Ability to repay
  3. Age of applicant
  4. Assets owned
  5. Any loans pending
  6. Cost of the home or property for which the loan is applied

To increase your eligibility chances, the following standards should be met:

  • Show income of your close family members like spouse/ son/ daughter living with you who have salary account maintained at SBI.
  • Continuous income for other sources.
  • Expected rent to be earned from the house or property against which loan is sought.

SBI Takeover of Home Loans - Eligibility Criteria

  • Same as criteria to avail a home loan
  • Valid documents for the flat/house or property
  • The borrower should have a good record of paying the interest and/or the installments.

SBI Her Ghar Home Loan - Eligibility Criteria

  1. The woman should be owner or co-owner of the property on which the loan is sought
  2. The applicant or first applicant (for joint account home loan) should be a woman
  3. She must be more than 18 years of age
  4. She must be a resident of India
  5. She should have a good CIBIL rating
  6. The age, income, LTV, amount and tenure of loan sought will also decide the loan eligibility
  7. Eligibility can be improved by adding the income of spouse or children whose salary accounts are with SBI
  8. If the property is to be rented, expected rent to be incurred can be shown

SBI Home Loan for Earnest Money Deposit Scheme - Eligibility Criteria

  1. The applicant must be at least 18 years of age.
  2. The applicant must have a steady source of income.

Eligibility Criteria for SBI Tribal Plus Scheme

  • The person must be a resident of India
    Minimum age: 21 years
    Maximum age: 60 years
  • The person must be a permanent employee of a private reputed firm or of Central or State Government or Public Sector undertakings (PSU)
  • Minimum service period for Class I employees should be 5 years
  • Minimum service period for employees belonging to other than class I is 10 years
  • The applicant must avail check-off facility
  • People from the regions mentioned above can avail the scheme. The applicants can avail the scheme even if they no more live at that place. In this case, the home or flat against which the scheme is availed should be at the native village.

Documents Required for SBI Home Loan

  • Application letter
  • 3 passport sized photographs
  • Identity Proof
  • Address Proof Business address location
  • Statement of bank accounts from 6 months
  • Identification of signature from bankers
  • Statements of other loans and advances
  • Salary certificate for salaried employee
  • For Salaried Employees: TDS Certificate or form 16 to prove that the person has been filing income tax returns for at least 2 years.
  • Cheque for processing fee
  • For Start-Ups and Businessmen: Proof of business.

SBI Takeover of Home Loans - Documents Required

  • No objection certificate (NOC) from the existing bank
  • Agreement of creating mortgage
  • Power of attorney transfer from the existing bank to SBI to carry out equitable mortgage on the behalf of borrower
  • Temporary security which will be released later
  • Documents pertaining to the original loan

SBI Her Ghar Home Loan - Documents Required

  • Loan application form
  • 3 passport size photographs
  • ID Proof
  • Address Proof
  • Statement of assets and liabilities
  • Signature identification from current bankers
  • Non-salaried applicants: Proof of address of business

SBI Home Loan for Earnest Money Deposit Scheme - Required Documents

  • Letter of allotment from the government agencies like as Urban Development Authorities and Housing Boards
  • 3 passport size Photograph
  • Identity Proof: (Voters I-card / Passport / Driving License / PAN Card etc. / Proof of residence)
  • Address Proof: (Passport/ Driving License/ PAN Card/ Ration Card)
  • Proof of Income/ salary/return in business (not needed if the applicant has an account with the bank)

Documents Required for SBI Tribal Plus Scheme

  • 3 passport sized photographs
  • Identity Proof
  • Address Proof
  • Statement of bank account from 6 months
  • Identification of signature from bankers
  • Salary certificate for salaried employee
  • For Salaried Employees: TDS Certificate or form 16 to prove that the person has been filing income tax returns for at least 2 years.
  • Cheque for processing fee
  • An affidavit is sought by the applicant who is testified that he/she is the owner of the plot of land or house or flat.
  • Post-dated cheques which pertain to monthly installments will be taken till the loan is paid.
  • The agreement to mortgage the land in case of non-payment of loan can also be sought.

SBI Home Loans Interest Rates

1 year MCLR: 8% (with effect from 01.01.2017)

Borrowers' category

Home Loan (Term Loan)

Home Loan (Term Loan)

Home Loan (Max Gain)Floating Rate

CRE Max gain irrespective of loan amount

2 years Fixed Interest Loans up to INR 3 million

Floating Rate Loans up to INR 7.5 million

Floating Rate Loans above INR 7.5 million

Maxgain above INR 2 million & up to INR 7.5 million

Loans above INR 7.5 million

Women*

8.50% for first two years thereafter linked to floating rate.

0.60% above 1 year MCLR, effective rate 8.60% p.a.

0.65% above 1 year MCLR, effective rate 8.65% p.a.

0.75% above 1 year MCLR, effective rate 8.75% p.a.

0.95% above 1 year MCLR, effective rate 8.95% p.a.

1.05% above 1 year MCLR, effective rate 9.05% p.a.

Others

8.55% for first two years thereafter linked to floating rate.

0.65% above 1 year MCLR, effective rate 8.65% p.a.

0.65% above 1 year MCLR, effective rate 8.70% p.a.

0.80% above 1 year MCLR, effective rate 8.80% p.a.

1% above 1 year MCLR, effective rate 9% p.a.

1.10% above 1 year MCLR, effective rate 9.10% p.a.


  • * Woman should be the sole applicant or one of the co-applicants for Home Loan and also the sole owner or one of the co-owners of the property proposed to be financed by the Bank
  • Loans up to INR 3 million will be available with both Fixed and Floating Rate option.

With effect from 1st January 2017 the revised rates are implied on the SBI interest rates as per the announcements made by Prime Minister Narendra Modi.

SBI Bank Home loan

Details

Interest Rate

8.60% - 8.70% 

Lowest EMI

Rs. 776 per lakh

Max Tenure

30 years

Processing Fee

Up to 0.35%

Prepayment, Foreclosure Charges

Allowed with nil charges for floating rate loans

Age

 

Min 18 and Max 70 years for Salaried

Min 18 and Max 70 years for Self Employed

 

Different Types of SBI Home loan Interest Rates:

Within SBI the different types of loans has helped many individuals to compare and pick the best type of loan that is affordable and suiting their requirements. Under these schemes there also loan that can be offered for Non-Residents of India. However, the minimum loan amount for this should be 3 lakhs or above.

Loan Category

Interest Rates

SBI Home Loan Floating

Up to Rs. 2,000,000

8.65%

Rs. 2,000,001 - 7,500,000

8.65%

Rs. 7,500,001 - 10,000,000

8.70%

Above Rs. 10,000,000

8.70% linked to 1 Year MCLR

Special offer for female borrower

Up to Rs. 2,000,000

8.60% 

Above Rs. 2,000,001 - 7,500,000

8.60%

Above Rs. 7,500,001 - 10,000,000

8.65%

Above Rs. 10,000,000

8.65% linked to 1 Year MCLR

with SBI Maxgain Facility 

Up to Rs. 2,000,000

8.75% 

Above Rs. 2,000,001 - 7,500,000

8.75%

Above Rs. 7,500,001 - 10,000,000

8.95%

Above Rs. 10,000,000

8.95% linked to 1 Year MCLR

SBI Flexipay Home Loan

Up to Rs. 2,000,000

8.65%

Rs. 2,000,001 - 7,500,000

8.65%

Rs. 7,500,001 - 10,000,000

8.70%

Above Rs. 10,000,000

8.70% linked to 1 Year MCLR

Special offer for female borrower

Up to Rs. 2,000,000

8.60% 

Above Rs. 2,000,001 - 7,500,000

8.60%

Above Rs. 7,500,001 - 10,000,000

8.65%

Above Rs. 10,000,000

8.65% linked to 1 Year MCLR

SBI Realty

Up to Rs. 2,000,000

8.65%

Rs. 2,000,001 - 7,500,000

8.65%

Rs. 7,500,001 - 10,000,000

8.70%

Above Rs. 10,000,000

8.70% linked to 1 Year MCLR

Special offer for female borrower

Up to Rs. 2,000,000

8.60%

Above Rs. 2,000,001 - 7,500,000

8.60%

Above Rs. 7,500,001 - 10,000,000

8.65%

Above Rs. 10,000,000

8.65% linked to 1 Year MCLR

SBI Tribal Plus

Up to Rs. 200,000

8.65%

Rs. 200,001 - 500,000

8.65%

Rs. 500,001 - 750,000

8.65%

Above Rs. 750,000

8.65% linked to 1 Year MCLR

Special offer for female borrower

Up to Rs. 200,000

8.60%

Above Rs. 200,001 - 500,000

8.60%

Above Rs. 500,001 - 750,000

8.60%

Above Rs. 750,000

8.60% linked to 1 Year MCLR

SBI Gram Niwas

Up to Rs. 100,000

8.65%

Rs. 100,001 - 200,000

8.65%

Rs. 200,001 - 350,000

8.65%

Above Rs. 350,000

8.65% linked to 1 Year MCLR

Special offer for female borrower

Up to Rs. 100,000

8.60% 

Above Rs. 100,001 - 200,000

8.60%

Above Rs. 200,001 - 350,000

8.60%

Above Rs. 350,000

8.60% linked to 1 Year MCLR

 

SBI Home Loan Fees, and Charges

Processing Fee: 0.35% of the amount of loan and service tax as is applicable.
Minimum: INR 2,000/- and service tax as is applicable.
Maximum: INR. 10,000/- and service tax as is applicable.
Pre-closure fee: Nil
Partial Pre-Payment Charges: Nil

SBI Tribal Plus Scheme

Processing Fees: 0.25% of the loan amount will be charged as the processing fees.

Loan for Earnest Money Deposit Scheme

Interest Rate:It is charged 4.55% above MCLR which comes to 13.75% p.a. (w.e.f. 01.04.2016)

Processing Fees: Minimum 0.5% of the amount of loan availed (minimum which will be INR 100)

Frequently Asked Questions

Can I get the loan approved first and get it availed later?

Yes, SBI does provide this option. The bank will check your gross combined income and check your eligibility to repay the loan. The good part is that you will then have to search for only those properties that will be in your budget.

For how long can the in-principal approval period last?

This period lasts for a sufficiently long time of 3 months where the customer can choose the best house or flat or property or look at the cost of renovation, etc and get the amount sanctioned by the bank.

Can my wife and I be co-applicants?

Yes, this is a great feature introduced by the SBI so that an applicant's eligibility can be increased and he can apply for the loan on the basis of enhanced income and pay back capacity.

What is EMI and how is it calculated?

EMI means Equated Monthly Installments. It consists of principal and interest components as the instalments.

What security will the bank take from me?

The bank's security will comprise the land or property against which the loan is sought. The property should be available for the mortgage. If not, then an interim security will be sought.

What amount will I have to pay as the processing charges?

You will have to pay the processing fees and also the actual charges towards valuation fee, fees of the advocate on account of property search and amount for the title investigation report and stamp duty as well. The processing fees is calculated on the below-mentioned basis: Up to INR 2.5 million: 0.25% of loan amount, minimum INR 1,000/- Above INR 2.5 million till INR 7.5 million: INR 6,500/- Above INR 7.5 million: INR 10,000/-

What are the penalties if I pre pay my loan?

There is no penalty if you prepay your loan. In this case, your burden of EMI will become less too.

How can I avail the loan and approach SBI?

You can visit any of our bank branches to gather the information. Also, you can apply online for the loan and take appropriate information from the phone support representatives.

Should I avail the loan if I already have the amount to buy a house or get it constructed? What are the benefits?

yes, you can go for it. This is because you get income tax exemptions for investing your money in homes by opting for home loans. To get proper knowledge is the loan would help you or not, you must consult a CA.

Are there any tax benefits of availing a home loan? If yes, what are they?

Yes, there are tax benefits. By the Indian Income Tax Act of 1961, the citizens of Indians can avail a benefit on principal and interest components of the home loan. Under Section 24(1), interest repayment of INR.1,50,000/- per annum qualifies for tax saving. As per the IT act, a surplus advantage under Section 80(c) on repayment of the primary principal amount up to INR 1,00,000/- can be availed on the same loan.

Reviews   4.8 stars, based on 295 reviews

It was a very good offer from State Bank of India. They have given me a rate of 9.35% on the home loan with a zero processing charge. The process for the loan took more than a month to complete as there was a delay from my end as I had to get some documents too and the bank as well.

 4/5

SBI is very excellent, in term of interest they were providing more attractive rates in the market. Overall Banking was good, SBI was transparent in all aspect of processing and there was no hidden charges. I really appreciate the prompt service and response.

 5/5

For SBI home loan documentation part was too lengthy, they were asking for more number of documents than the standard set of documents which was strange. Obviously, interest rate is much better than any other bank. Processing fee too was much better than others. From the date of submitting my documents SBI took around a week's time to respond. The executive name was Pawan he was too helpful and the guy was truly amazing.

 5/5

My home loan is from SBI. They completed my process within a week or two. There was a delay from my end. It was a good experience and the rate of interest was of 9.4%. Lately there was a reduction on the rate of .25% by SBI. The processing charges was also nominal.

 5/5

I am impressed with SBI, I must say I was really happy with their process, it was basically a construction loan. They took around 7 to 8 days of time to provide the loan. They took my salary slip, and other relevant documents like cheque along with my land property papers works were produced to avail this loan. In short, I enjoyed their service.

 5/5

SBI has taken over the outstanding balance I had with DHFL, the reason why I shifted to SBI was because of the rates. SBI was offering a floating rate, they also apply the rates automatically when RBI slashes the rate. Just that I had to call them and find the information about the revised rate as I don't get any sort of intimation from them on time.

 5/5

Indeed, I am a happy customer of SBI because I had taken loan from them. Rate of interest is truly the lowest in the market. They have worked on their customer service level they were quick in providing the service. Particularly the branch response is really good as they work on weekends too.

 5/5

SBI gave outstanding support for my home loan. They had considered me as a privilege customer, so they didn't charge any processing fee for my home loan. In the market SBI had provided least Rate of interest they only charged 9.3% it was low. Even smooth documentations process.

 5/5

My experience with State bank of India has always been fair. I had taken my home loan from them. The process was quick and it was completed on time by the bank. Just that there was a delay from the bank in disbursing the loan due to demonetization. They also offered a good rate of interest. The processing charges were also normal.

 5/5

SBI was very excellent, in term of interest they were providing more attractive rates in the market. Overall Banking was good, SBI was transparent in all aspect of processing and there was no hidden charges. I really appreciate the prompt service and response.

 5/5

SBI had provided complete satisfactory on service and fast response. Rate of interest was very much attractive and best in the market. I would say they are providing excellent offers for Home loan. As per the customer requirements they are fulfilling their dreams.

 5/5

Overall, I am happy about SBI service in terms of interest rate, processing fee etc. But I was expecting 90% of loan from the property value but SBI provides only 80% of loan. Other than that I am stunned by their services & rate of interest.

 5/5

SBI housing loan process is very simple. The documentation part was very easy and simple. There is no hassle absolutely and the loan processing happened on time. Everything is pretty much clear with them and everything happened on time with SBI.

 5/5

I was looking for the loan to build a home at my home town. I approached SBI & applied for home loan. The responds from SBI was really nice. I thought they will not approve my loan but they did approve my loan. The tenure offered to me is 20 years with the rate of interest of 9%.

 5/5

Since I am an existing customer of State Bank of India, I got an offer for the home loan and the process was smooth as well in getting the loan. The services and response has been really good, they were clear in the communication. The rate of interest and charges was normal.

 5/5

I read about the SBI home loan features online at Finance Buddha.com & I could not stop myself in applying for the loan. I wanted to take the home loan but after a year or so but the amazing rate of interest & processing charges offered by SBI changed my mind & I took the loan from SBI. I am recommending SBI to everyone who is in need of home loan.

 5/5

I wish to give State Bank of India ten stars for the whole package. They have prompt services & the rate of interest charged is amazingly low. Probably lowest in the market. I am really happy with SBI home loan.

 5/5

I recently bought the land for building the house with the help of SBI home loan. I did not face any delays when it comes to SBI home loan. The documents were collected by their executive from my home & the process was really fast. I am very delighted with the rate of interest & processing charges that SBI has offered me.

 5/5

SBI is providing flawless services when it comes to home loan. I applied for the loan six months ago & I did not face any issues while loan was processing. The time duration for the loan process was just a week. After that they disburse the loan. I am really happy with their rate of interest & processing charges.

 5/5

My home loan application with SBI went really smooth. There were no delays in processing my loan application. I was informed of all the updated timely. The documents requirement is also simple & clear.

 5/5

The reason why I chose SBI is that I have heard great reviews about SBI home loan. My application process went so well & easy. I was expecting a complex process where I will have to visit the bank every now & than but SBI proved me wrong. Their process is really very convenient. They are very clear about the documents required for the loan application. Their executive mailed me the list of documents & I submitted the documents. My loan was credited in my account in the time span of 9 days.

 5/5

I applied for SBI home loan through Finance Buddha portal. The website has the tremendous amount of information when it comes to home loan. I applied for the loan online & their executive collected all the required documents from my home. Finance Buddha team helped me in preparing the documents for loan. I am very satisfied with the rate of interest offered to me.

 5/5

SBI called me and kept me informed about the details for the home loan process. I requested them to give me a clear detail on the documentation required. Their executive mailed me the detail requirements for home loan documentation. I am really glad to choose SBI as my loan was disbursed so soon & the application process is so easy & stress free.

 5/5

I had applied for my home loan with State Bank of India. The services from them is good as the process is still on and they have been doing good in the collection of documents and giving me the updates. I am also happy with the rate of interest and other charges.

 5/5

The rate of interest is very low that is why I had chosen SBI for the housing loan. Another plus, is the documentation part which is too simple.

 5/5

SBI processed my home loan even though the property was not located at my work town. I wanted to rebuild the native home & the understood my requirements very well. SBI offered good interest rates and very low processing charges for my home loan.

 5/5

I received a very good response from State Bank of India when I was applying for home loan. They communicating the details of loan & documents requirement to me very clearly. There were no hidden charges everything at SBI is so clear & transparent. The rate of interest that they offered is amazingly low. I am really very satisfied with their customer responds & services. They really care for their customers.

 5/5

I have recently transferred my home loan from Axis bank to SBI bank. The reason why I transferred the loan is the lower rate of interest offered by SBI. The process went really well. I was having all the documents ready with me & that’s why the loan process took very less time. The rate of interest offered to me was as low as 9%. They have charged just 3000 as processing charges. I am really happy with my decision of transferring the loan to SBI. They have even increased the repayment tenure from 20 years to 23 years.

 5/5

SBI has been very up supportive when it comes to home loan. Since I did not have the initial 20% to pay the builder. The bank made the options flexible for me. By making the payments like 10% from the client 80% with the bank 10%. From the client. The paper work was much as it took me a whole day to complete the same, but they had a good deal on the rate of interest and charges.

 5/5

The prime reason for choosing SBI for the housing loan is because, they have offered a very low interest rate the process what they are following is very simple. The rate of interest on my home loan is as low as 8.7%.I am happy to choose SBI. I did not face any hassle or stress while applying for home loan from SBI.

 5/5