State Bank of India (SBI) offers realty home loans at interest rates of 9.40% p.a. onwards and repayment tenures of up to 10 years. The borrowers should start home construction on the plots within 5 years from the date of sanction of SBI Realty Home Loan. Borrowers can also avail separate home loans for carrying out home construction on the plot financed under SBI Realty Home Loan. The public sector bank offers interest rate concessions to its prospective women home loan applicants.
| SBI Realty Home Loan Highlights 2023 | |
| Interest Rate | 9.40%-9.85% p.a. |
| Maximum Loan amount | Up to 15 crore |
| Repayment Tenure | Up to 10 years |
| Processing fee | 0.35% of the loan amount (Rs 2,000 – Rs 10,000) + GST |
Note: Interest rates as of 3 August 2023
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Table of Contents
SBI Realty Home Loan Interest Rates
Campaign Rates – valid up to 31 August 2023
| CIBIL Score | Rate of Interest (p.a.) |
| >=750 | 9.40% |
| 700-749 | 9.65% |
| 650-699 | 9.75% |
| 550-649 | 9.85% |
| NTC/No CIBIL Score/-1 | 9.65% |
Card Rates
| CIBIL Score | Rate of Interest (p.a.) |
| >=750 | 9.45% |
| 700-749 | 9.65% |
| 650-699 | 9.75% |
| 550-649 | 9.85% |
| NTC/No CIBIL Score/-1 | 9.65% |
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SBI Realty Home Loan Fees and Charges
Processing fee: 0.35% of the loan amount (Rs 2,000- Rs 10,000) + GST
For other fees and charges, visit https://www.paisabazaar.com/sbi-bank/home-loan/
SBI Realty Home Loan Eligibility Criteria
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Maximum Age: 65 years
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SBI Realty Home Loan Documents Required
List of common documents for all applicants:
- Employer Identity Card
- Completed loan application with 3 Passport size photographs
- Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
- Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
- Proof of business address for non-salaried individuals
- Statement of Bank Account/ Pass Book for last six months
- Signature identification from present bankers
- Personal Assets and Liabilities statement
List of documents for guarantor (wherever applicable):
- Personal Assets and Liabilities Statement
- 2 passport size photographs
- Proof of identification (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
- Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ Voters ID card)
- Proof of business address
- Signature identification from his/her present bankers
List of additional documents required for salaried individuals:
- Original Salary Certificate from employer
- TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt.
List of additional documents required for Professionals/self- employed/ other IT assesses:
- Acknowledged copies of three years of I.T. returns/ Assessment Orders.
- Photocopies of challans of Advance Income Tax payment.
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FAQs
1. What is the maximum loan available under SBI Realty loan?
Ans: question not applicable since mentioned in highlights
2. Can I take another home loan from SBI to construct house on the plot purchased through the SBI Realty home loan?
Ans: Borrowers who have availed SBI Realty Home Loan for plot purchase can also take another home loan from the SBI to construct house on that plot. However, the approval of the construction loan would be subject to the various home eligibility criteria set by the SBI like applicant’s repayment capacity, employment profile, occupation profile, credit profile, etc. Those planning to avail home loan for home construction can also click here to find the home loan offers from some of the top lenders based on their credit profile.
3. Do I need to pledge any collateral security with SBI for the Realty Home Loan?
Ans: The plot purchased through the SBI Realty Home Loan would be used as the primary security of the loan. However, SBI may ask for additional security, if required, in the form of life insurance policies, shares/debentures, gold ornaments, etc from the loan applicants.