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Lenders usually offer home loan interest rates depending on the credit score, loan amount, LTV ratio, loan types and job profile of the applicants. SBI offers home loans at floating interest rates starting from 7.25% p.a. depending on the credit profile of the applicants. The bank offers differential interest rates based on the home loan schemes.
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Competitive Interest Rates
Starting 7.40% p.a.
Handpicked Home Loan Offers
Offers from 25+ Banks & HFCs
Dedicated Customer Support
Expert Assistance at Every Step
Transfer Balance & Get a Top-Up Easily
Additional Funds when Required
Compare & Choose the Best Offer
Curated Offers from Multiple Lenders
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Easy & Transparent Borrowing Process
Get up to ₹5 Crore in 5 Simple Steps
Step 1: Enter your mobile number in the application form.
Step 2: Verify using the OTP sent to your mobile number.
Step 3: Enter details related to your loan requirements.
Step 4: Provide your personal and employment details.
Step 5: Compare offers and apply for the best-suited loan.
SBI home loan interest rates start from 7.25% p.a. onwards. The differential interest rates are mentioned below:
| Home Loan Schemes | Interest Rate (p.a.) |
|---|---|
| Home Loan (TL) | 7.25% - 8.45% |
| Home Loan Maxgain (OD) | 7.50% - 8.70% |
| Top-up Loan | 7.75% - 10.50% |
| Top-up (OD) Loan | 8.00% - 9.20% |
| YONO Insta Home Top-up Loan | 8.10% |
State Bank of India offers home loans at floating rates only. This means that the lender adjusts its rates with the change in the repo rate and market conditions. Note that,
| Name of Lender | Interest Rates |
|---|---|
| Axis Bank | 8.25% p.a. onwards* |
| Bajaj Housing Finance | 7.40% p.a. onwards |
| Bank of India | 7.10% p.a. onwards |
| Canara Bank | 7.15% p.a. onwards |
| Easy Home Finance | 8.99% p.a. onwards |
| Federal Bank | 7.90% p.a. onwards* |
| Godrej Housing Finance | 7.75% p.a. onwards |
| HDFC Bank | 7.90% p.a. onwards |
| HDFC Sales Pvt. Ltd. | 7.90% p.a. onwards |
| Home First Finance | 8.00% p.a. onwards |
| ICICI Bank | 7.65% p.a. onwards |
| IDBI Bank | 7.35% p.a. onwards |
| IDFC FIRST Bank | 8.85% p.a. onwards |
| India Shelter Home Loan | 8.43% p.a. onwards |
| Jio Housing Finance | 8.20% p.a. onwards |
| Kotak Mahindra Bank | 7.70% p.a. onwards |
| L&T Finance Limited | 8.40% p.a. onwards* |
| Piramal Capital Housing Finance | 8.25% p.a. onwards* |
| PNB Housing Finance | 7.20% p.a. onwards* |
| Punjab & Sind Bank | 7.30% p.a. onwards |
| Punjab National Bank | 7.20% p.a. onwards |
| RBL Bank | 8.20% p.a. onwards |
| Sammaan Capital (Formerly known as Indiabulls Housing Finance) | 8.75% p.a. onwards |
| Shubham Housing Finance | 10.45% p.a. onwards |
| State Bank of India | 7.25% p.a. onwards |
| Tata Capital Housing Finance | 7.75% p.a. onwards |
| Interest Rate (p.a.) | Loan Amount (Rs.) | Loan Tenure (years) | EMI (Rs.) |
|---|---|---|---|
| 7.25% | 10 lakh | 5 | 19,919 |
| 7.25% | 10 lakh | 10 | 11,740 |
| 7.25% | 10 lakh | 15 | 9,129 |
| 7.25% | 10 lakh | 20 | 7,904 |
| 7.25% | 10 lakh | 25 | 7,228 |
| Interest Rate (p.a.) | Loan Amount (Rs.) | Loan Tenure (years) | EMI (Rs.) |
|---|---|---|---|
| 7.25% | 2 lakh | 30 | 1,364 |
| 7.25% | 5 lakh | 30 | 3,411 |
| 7.25% | 10 lakh | 30 | 6,822 |
| 7.25% | 15 lakh | 30 | 10,233 |
| 7.25% | 20 lakh | 30 | 13,644 |
Swipe to see more table data
To get a lower home loan interest rate from State Bank of India remember the following points:
| Home Loan Schemes | Interest Rate (p.a.) |
|---|---|
| Home Loan and Top-up | 0.35% of the loan amount (Rs. 3,000 - Rs. 12,000) |
| YONO Insta Home Loan Top-up | Rs. 3,000 |
| Suraksha Loan | NIL |
| Privilege and Shaurya Home Loan | NIL |
SBI offers special home loan schemes for defence/navy/airforce personnels, employees of Central and State Government and for individuals residing in hilly or tribal areas. However, the lender has not disclosed any special interest rates for the above-mentioned categories.
SBI may offer an interest rate concession of 5 bps to its women borrowers on case to case basis.
SBI offers Reverse Mortgage Loan for senior citizens wherein the bank pays to the borrower against mortgage of their residential property.
With the change in the external benchmark and spread the interest of floating rate home loans changes. If the external benchmark increases the interest rate increases, and vice versa.
A change in the interest rate impacts the EMI and eventually the overall borrowing cost. The higher the interest rate, more is the EMI and the interest cost, and vice-versa.
Get up to ₹5 Crore in 5 Simple Steps
Step 1: Enter your mobile number in the application form.
Step 2: Verify using the OTP sent to your mobile number.
Step 3: Enter details related to your loan requirements.
Step 4: Provide your personal and employment details.
Step 5: Compare offers and apply for the best-suited loan.
SBI offers home loan interest rates ranging from 7.25% to 8.70% depending on the creditworthiness of the applicants.
SBI offers home loan only at floating interest rates. Floating rates are EBLR based, i.e., they change with the change in the external benchmark set by the RBI. On the contrary, fixed interest rates remain the same throughout the loan tenure and are not impacted by the change in the repo rate.
SBI changes its rates with the change in the repo rate set by the RBI. As the repo rate increases, the interest rates also increase leading to a rise in the overall borrowing cost, and vice-versa.
The lowest interest rates are offered by regular home loan scheme ranging from 7.25% to 8.45% p.depending on the credit profile of the applicants.
SBI may offer 0.05% concession on home loan interest rates to its women borrowers varying from case to case.
SBI determines the home loan interest rates depending on the credit profile of the applicants. However, the lender has specified its interest rate differentiation based only on the home loan schemes.
Lenders usually offer home loan interest rates depending on the credit score, monthly income, job profile, home loan schemes and loan amount. However, SBI has not specified its differential interest rates based on the aforementioned factors.
The SBI home loan charges a processing fee of 0.35% of the loan amount (Rs. 3,000 to Rs. 12,000).
You can make a higher down payment to pay lower EMIs. You can also opt for longer tenures to reduce your EMI payable throughout the loan tenure. Prepaying a lumpsum amount towards your ongoing home loan also reduces your EMI. The prepaid amount gets deducted from the principal amount which reduces the EMI and the overall borrowing cost.
SBI offers highly competitive interest rates starting from 7.25% p.However, some PSU banks offer home loan interest rates lower than those offered by the State Bank of India.
You can visit the official website of State Bank of India or SBI YONO app (existing/new customers) to check for its home loan offers. You can also visit online financial
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