SBI Home Loan Interest Rate

The State Bank of India offers house loans with competitive interest rates starting at 6.80 percent per annum. SBI is giving a 70 bps interest rate reduction, with rates starting at 6.70 percent pa. and no processing fee. This offer is good until March 31, 2021. The loan term can be extended up to 30 years, allowing for a more convenient repayment schedule. These loans have a processing fee of 0.35 percent of the loan amount (minimum Rs.2,000, maximum Rs.10,000) + applicable taxes. On SBI Home Loans, women borrowers get a 0.05 percent interest rate reduction. They are one of the most popular housing loan solutions in the country since there are no hidden fees and no prepayment penalties.

Features and Benefits of an SBI Home Loan

  • Women borrowers can get a 0.05 percent interest rate reduction.

  • On floating rate home loans, there are no prepayment penalties.

  • Various lending programmes to meet the needs of each consumer

  • There are options for balance transfers, top-ups, and overdrafts.

Fees and Charges for SBI Home Loan Processing

On house loans in approved developments, the SBI Home Loan Processing Fee is zero. The following are the additional SBI home loan fees:

  • Prepayment Fees: For variable rates, there are no prepayment fees.

  • CERSAI Registration Fee: Rs. 50 for up to Rs. 5 lakh; Rs. 100 for more than Rs. 5 lakh.

SBI home loan EMI calculator

It's a good idea to evaluate whether you'll be able to make the monthly instalments before taking up a house loan from SBI. Using the SBI Home Loan EMI Calculator is the simplest way to achieve this. Simply enter the loan amount, the term of the loan, the interest rate offered by the bank, and the processing fee. The processing charge will not influence your results, but the other three inputs are required for accurate results.

SBI Home Loan EMI Calculator


10 years

20 years

30 years

Rs.10 lakh   




Rs.20 lakh




Rs.40 lakh




Rs.50 lakh




SBI home loan interest rate 2021

Types of SBI Home Loan

Interest Rate for Salaried

Interest Rate for Self Employed

Regular SBI Home Loan

Term Loan – 6.70% onwards    
MaxGain – 7.15% onwards

Term Loan – 6.90% onwards
MaxGain – 7.30% onwards

SBI Realty Home Loan

7.45% – 7.85%

7.45% – 7.85%

SBI Privilege Home Loan

As per credit assessment

SBI Shaurya Home Loan

As per credit assessment

SBI Flexipay Home Loan

As per credit assessment

SBI Home Loan to Non-Salaried

As per credit assessment

SBI NRI Home Loan

As per credit assessment

SBI Bridge Home Loan

1st Year: 9.50%
2nd Year: 10.50%

SBI Home Loan Balance Transfer

6.70% onwards

6.70% onwards

SBI Home Top Up Loan

Term Loan – 7.50% – 9.65%
Overdraft – 8.40% – 8.65%

Term Loan – 7.65% –  9.80%
Overdraft – 8.55% – 8.80%

SBI Smart Home Top Up Loan

Term Loan – 8.50%
Overdraft – 8.55%

Term Loan – 8.55%
Overdraft – 9.05%

Insta Home Top Up Loan



SBI Earnest Money Deposit (EMD)

10.45% onwards

SBI Tribal Plus Home Loan

Additional 10 bps will be added to the Final Rate

Corporate Home Loan

As per credit assessment

Commercial Real Estate (CRE) Home Loan

Additional 50 bps will be added to the Final Rate


SBI home loan eligibility criteria

SBI offers a variety of home loan programmes, each with its own set of requirements. Customers who want to apply for an SBI home loan should make sure they meet the eligibility requirements to avoid being turned down. The following are the common SBI home loan eligibility criteria:

Borrower Profile     

Indian Residents/NRIs/PIOs

Employment Type

Salaried/Self Employed


18 to 75 years

Credit Score

Preferably 750 and above


Varies from case to case

In addition to the factors listed above, your eligibility for an SBI home loan is determined by your income, the property you are acquiring, and its location.

How Does Your Credit Score Affect Your Mortgage?

Your credit score affects your house loan in the following ways:

  • Increases your chances of being approved for a loan: Your credit score gives your lenders a first impression. The higher your credit score, the more likely your home loan application will be granted. Although it is possible to obtain a home loan with a low credit score, the chances of this occurring are quite limited. Furthermore, your lender is more likely to charge a higher rate of interest or provide a smaller loan amount under such circumstances. Consider adding another item as collateral or enrolling a co-applicant with a great repayment history and sufficient income to strengthen your case.
  • Assists you in obtaining a house loan at a reduced interest rate: Your credit score has a direct impact on the interest rate on your home loan. A higher credit score will enable you to obtain a loan with a lower interest rate, allowing you to save significantly on interest costs and making home loans more accessible.
  • Note that before issuing a shared home loan, your lender evaluates the credit profiles of each co-applicant. To analyse the lending risk, the loan officer will additionally look at each co-credit applicant's score. As a result, before jointly applying for a home loan, all co-applicants must verify and confirm that their credit scores are high enough to qualify them for a low-interest loan.

Frequently asked questions

When does the SBI home loan interest rate change?

SBI's home loan interest rates fluctuate on the first day of each calendar quarter in response to any change in the Reserve Bank of India's repo rate.

Is the pre-payment penalty included in SBI balance transfer loans?

Yes, the prepayment penalty will be covered by SBI balance transfer loans, but the total loan amount will be determined by the eligibility requirements of the applicable SBI home loan plan.

What are the SBI home loan processing fees?

The aggregate processing charge for SBI home loans is 0.40 percent of the loan amount + applicable GST. The minimum and maximum amounts are Rs.10,000 plus GST and Rs.30,000 plus GST, respectively.

Is it possible to get a pre-approval for a house loan from SBI?

Yes, SBI offers pre-approved house loans, which you can learn more about by contacting the bank.

Is the spouse's wage taken into account while applying for an SBI house loan?

If the spouse is a co-owner of the property being purchased with the loan or a guarantor of the loan, the spouse's salary is considered when determining the loan amount.