SBI Home Loan

 

SBI Home Loan

State Bank of India or SBI, the country's largest lender, offers several home loan products under its personal finance portfolio. Home loan is a product, where customers take loan to buy or renovate house against the same property as collateral. The lender provides these loans at interest rates starting from 6.75 per cent per annum for loans up to ₹ 30 lakh, according to its website- homeloans.sbi. Under regular SBI home loans, interest rates for women are slightly lower than that for others.

Given below are few types of home loans offered by SBI:

SBI Flexipay Home Loan

SBI Flexipay home loan provides eligibility for a higher loan amount exclusively for salaried borrowers, according to SBI's website. It offers customers the option to pay only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs (equated monthly instalments). The EMIs are stepped-up during subsequent years. 

SBI Privilege Home Loan

SBI Privilege home loan is available exclusively for government employees, according to SBI's website. Individuals who are employees of central or state government which includes public sector banks, public sector undertakings of central government and other individuals with pensionable services are eligible to apply for this home loan. The loan amount is determined by taking into consideration factors such as applicant income and repaying capacity, age, assets and liabilities, cost of proposed house/flat etc.

SBI Shaurya Home Loan

SBI Shaurya home loan scheme is available for the army and defence personnel of the nation. It offers lower interest rates, ease of repayment options and longer repayment period of the loaned amount.

SBI Pre-Approved Home Loan

SBI Pre-approved loan (PAL) provides sanction of home loan limits to customers before finalisation of the property which enables them to negotiate with the builder/seller. The loan eligibility is assessed based on income details of the applicant. Non-refundable processing fee as applicable to the home loan are collected at the time of sanction, according to SBI's website.

SBI Realty Home Loan

SBI realty home loan allows customer to purchase a plot for construction of a dwelling unit. The construction of the house should take place within 5 years from date the loan has been sanctioned, according to SBI's website. The customer can also avail another home loan for construction of house on plot financed under SBI Realty. The maximum amount of loan that can be offered to a customer can range up to ₹ 15 crores with a comfortable repayment of 10 years.

SBI Bridge Home Loan

SBI offers bridge home loan for home owners who aspire to upgrade their homes - to bigger homes or better locations, by selling off their existing homes, according to the lender's website. 

 

SBI Regular Home Loan

SBI Home Loans is the largest Mortgage Provider in the country. It has successfully helped over 30 Lakh families achieve their dream of owning a home.

"THE MOST PREFERRED HOME LOAN PROVIDER" voted in AWAAZ Consumer Awards along with the MOST PREFERRED BANK AWARD in a survey conducted by TV 18 in association with AC Nielsen-ORG Marg in 21 cities across India. SBI Home Loans come to you on the solid foundation of trust and transparency built in the tradition of SBI. It includes options for purchase of ready built property, purchase of under construction property, purchase of pre-owned homes, construction of a house, extension of house and repair/renovation.

 

SBIBalance Transfer of Home Loan

Switch your Home Loan to SBI and Save Big!

SBI offers Balance Transfer of home loan that enables a customer to transfer home loan from Scheduled Commercial Banks (SCBs), Private and Foreign Banks, Housing Finance Companies (HFCs) registered with National Housing Bank (NHB) and Borrower’s employers if they are Central/State Govt or their undertakings or Public Sector Undertaking subject to condition that the borrower should satisfy the eligibility criteria for availing Home Loan as per the Bank's instruction and has serviced interest and/or installment of the existing loan regularly, as per the original terms of sanction. The borrower should have valid documents evidencing the title to the house/flat.

 

SBINRI Home Loan

SBI NRI Home Loans allows Non-Resident Indians to get closer to home.

SBI NRI Home Loan allows many NRIs (Non Resident Indians) to get home loans when investing in properties. Financially, it makes sense to purchase a property through home loan rather than through personal financing especially when you can invest your personal funds somewhere else for better returns.

 

SBIFlexipay Home Loan

Let your current income not stop you from owning your dream home.

SBI Flexipay Home loan provides an eligibility for a higher loan amount exclusively for the salaried borrowers. It offers customer the option to pay only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the subsequent years. This variant of SBI home loan is very useful for young earners. The SBI Flexipay home loan has the potential to lure a large section of home loan buyer towards SBI.

 

SBIPrivilege Home Loan

Home Loan designed especially for Government Employees

SBI has launched SBI Privilege Home Loan exclusively for government employees. Individuals who are employees of Central or State Government which includes PSBs, PSUs of Central Government and other individuals with pensionable service are eligible to apply for this home loan. The loan amount will be determined by taking into consideration factors such as applicant income and repaying capacity, age, assets and liabilities, cost of proposed house/flat etc.

 

SBI Shaurya Home Loan

You serve the nation, give us an opportunity to serve you.

SBI Shaurya Home Loan scheme is dedicated to the Army and Defence Personnel of the nation. This special home loan scheme will be only provided to the defence employees. The SBI Shaurya Home loans will have lower interest rates and other added benefits which will only be provided to the defence employee applicants. Apart from reduced interest rates in the home loan, the defence employees will also have the ease of repayment options and may get longer repayment period of the loaned amount.

 

Pre-Approved Home Loan

Get your home loan in place before you select your property.

The SBI Pre-approved loan (PAL) provides sanction of Home Loan limits to the customers before finalization of the property which enables them to negotiate with the Builder/Seller confidently. The loan eligibility will be assessed based on income details of the applicant. Non-refundable processing fee as applicable to the Home Loan will be collected at the time of sanction.

 

Realty Home Loan

Construct your dream home from scratch and make it a reality.

SBI Realty provides an opportunity to the customer to purchase a plot for construction of a dwelling unit. The construction of the house should take place within 5 years from date the loan has been sanctioned. The customer can also avail another Home Loan for construction of house on plot financed under SBI Realty. The maximum amount of loan that can be offered to a customer can range upto Rs. 15 crores with a comfortable repayment of 10 years.

 

Home Top Up Loan

Unlock the value of your home with SBI Home Top-Up Loans.

SBI offers "SBI Home Top Up Loan" to their customer to borrow certain amount over and above their home loan amount. The customer who already have a home loan from SBI and requires more funding, can opt for Home Top up loans. It can be availed for any personal purpose. The interest rates are much lower than usual personal loan interest rates.

 

Smart Home Top Up Loan

Visit your nearest Branch/ RACPC and walk out with a Home Top-Up Loan within minutes. No documents required!

SBI Smart Home Top up loan is a general purpose loan offered to meet your urgent requirements for any personal purposes such as meeting expenditure on education, marriage, health care, repair/renovation/furnishing of the house, etc. The best part is you simply need to walk into the nearest branch/ RACPC to avail the Loan. Smart, isn’t it?

 

YONO Insta Home Top-Up Loan

Hassle free Instant Top up loan for Eligible existing Home Loan Customers!

YONO Insta Home Top-Up Loan is a facility made available to our pre-selected Home Loan customers over YONO Mobile App.

 

Corporate Home Loan

Home Loans for Corporate Entities!

To provide Home Loans to Corporate Entities (Both Public & Pvt. Ltd. Companies) for construction/ acquisition of Residential Units in the name of the Company for use by their Directors/Promoters and Employees, and for Take-over of Home Loans in the name of the Company from other Banks/HFCs, subject to compliance to our extant norms for Take-over of Home Loans.

 

Home Loan to Non-Salaried – Differential offerings

Home Loans designed for Non-Salaried Individuals!

This product is specifically designed for Non-Salaried Individuals offering the best possible Home Loan value to customers. Home Loans for the purpose of construction / acquisition of residential house/flat, takeover of Home Loans from other Banks/HFCs and repair/renovation of existing house/flat.

 

Tribal Plus

Home Loan designed especially for Hilly/ Tribal areas

SBI Tribal plus Home Loan can be availed for the purpose of purchase or construction of a new house / flat (without mortgage of land), purchase of an existing (old) house / flat which is not more than 10 years old, and repair /renovation/extension of an existing house or flat. This scheme is available at all the SBI branches in these areas.

 

Earnest Money Deposit (EMD)

Take the first step towards owning your dream home...

EMD scheme has been designed keeping in mind the financing needs of applicants who are looking for earnest money for booking of residential plots/built-up houses being sold by Government Housing agencies like Urban Development Authorities like PUDA, HUDA and Housing Boards.

 

Reverse Mortgage Loan

After a lifetime of working and raising families, you deserve a good retirement period

SBI Reverse Mortgage Loan provides an additional source of income for senior citizens of India, who have a self-acquired or self-occupied home in India. This product is beneficial for senior citizens who do not have adequate income to support themselves. The Bank makes payments to the borrower /borrowers (in case of living spouse), against mortgage of his / their residential house property. The borrower is not expected to service the loan during his lifetime.

 

CRE (Commercial Real Estate) Home Loan

Looking for your next investment in residential space?

Maximum number of Home Loans in the name of an individual, including the existing loans and the proposed one will be restricted to 3 (three) Home Loans(excluding closed accounts)under Home Loan Scheme in P-Segment.

 

Loan against Property (P-LAP)

Get the best value for your home to fulfill your financial needs

Avail loan against property for fulfilling personal needs such as meeting expenditure on education, marriage, healthcare, etc. other than speculative purpose. It is to be noted that loans under SBI LAP will not be permitted for Business Purposes.

 

CRE (Commercial Real Estate) Home Loan

Looking for your next investment in residential space?

Maximum number of Home Loans in the name of an individual, including the existing loans and the proposed one will be restricted to 3 (three) Home Loans(excluding closed accounts)under Home Loan Scheme in P-Segment.

 

Other Schemes Available at SBI

Avail the best scheme suiting your needs!

There are many schemes available with SBI, suiting the needs of customers. Some of them are – SBI Maxgain, SBI Green Home Loans, Pre-EMI Interest By Builders Scheme, and SBI Suraksha. SBI also offers schemes for flexible margin payment, Credit Risk Guarantee Fund Trust for Low Income Housing in Urban Areas (CRGFTLIH) etc

 

 

 

 

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