Everyone has a dream of buying their own home but due to some financial implications they are not allowed to buy their house property. To fulfill dream of buying many banks can help us by providing home loans on attractive interest rates. Every Bank offer their best home loan interest Rates. SBI is one of the leading bank which offers home loans on attractive interest rates.
SBI helped over 30 lakh families to achieve the dream of owning a home. However, SBI offers low Interest Rates on home loans that depend upon many factors i.e. loan amount, tenure and the applicant’s CIBIL Score. In this article we will discuss in detail about SBI Home Loan Interest Rates 2023 and its related home loan Schemes etc.
SBI Home Loan Interest Rates 2023 (01.09.2023 to 31.12.2023)
Campaign Interest Rates
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 8.60% |
| 750-799 | 8.60% |
| 700-749 | 8.70% |
| 650-699 | 9.45% |
| 550-649 | 9.65% |
| NTC/No CIBIL/-1 | 8.70% |
| 151-200 | 8.70% |
| 101-150 | 9.45% |
Card Interest Rates (Term Loan)
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 9.15% |
| 750-799 | 9.15% |
| 700-749 | 9.35% |
| 650-699 | 9.45% |
| 550-649 | 9.65% |
| NTC/No CIBIL/-1 | 9.35% |
| 151-200 | 9.35% |
| 101-150 | 9.45% |
SBI Top-up Home Loan rates
Campaign Rates (01.09.2023 to 31.12.2023)
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 9.10% |
| 750-799 | 9.10% |
| 700-749 | 9.30% |
| 650-699 | 9.85% |
| 550-649 | 10.15% |
| NTC/No CIBIL/-1 | 9.30% |
| 151-200 | 9.30% |
| 101-150 | 9.85% |
Card Rates (Term Loan)
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 9.55% |
| 750-799 | 9.55% |
| 700-749 | 9.75% |
| 650-699 | 9.85% |
| 550-649 | 10.15% |
| NTC/No CIBIL/-1 | 9.75% |
| 151-200 | 9.75% |
| 101-150 | 9.85% |
SBI P-LAP Home Loan
Campaign Rates (01.09.2023 to 31.12.2023)
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 10.60% |
| 750-799 | 10.60% |
| 700-749 | 10.80% |
| 650-699 | 11.20% |
| 550-649 | 11.30% |
| NTC/No CIBIL/-1 | 11.10% |
| 151-200 | 10.80% |
| 101-150 | 11.20% |
Card Rates (Term Loan)
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 10.90% |
| 750-799 | 10.90% |
| 700-749 | 11.10% |
| 650-699 | 11.20% |
| 550-649 | 11.30% |
| NTC/No CIBIL/-1 | 11.10% |
| 151-200 | 11.10% |
| 101-150 | 11.20% |
SBI Home Loan Interest Rates w.e.f.1/05/23
| Regular Home Loan w.e.f. 1/05/2023 | ||
| CIBIL Score | Term Loan | Max Gain |
| > = 750 | 9.15% | 9.55% |
| 700 – 749 | 9.35% | 9.75% |
| 650-699 | 9.45% | 9.85% |
| 550-649 | 9.65% | 10.05% |
| NTC / NO CIBIL Score/-1 | 9.35% | 9.75% |
SBI CRE Home Loan Interest Rates
| CRE Home Loan Rates w.e.f. 1/05/23 | ||
| CIBIL Score | Term Loan | Max Gain |
| > = 750 | 9.35% | 9.65% |
| 700 -749 | 9.55% | 9.85% |
| 650 – 699 | 9.65% | 9.95% |
| 550 – 649 | 9.85% | 10.15% |
| NTC / NO CIBIL Score/ -1 | 9.55% | 9.85% |
SBI Top Up Loan Interest Rates
| Top Up Home Loan Rates w.e.f. 1/05/23 | ||
| CIBIL Score | Term Loan | Over Draft |
| > = 750 | 9.55% | 9.85% |
| 700 -749 | 9.75% | 10.05% |
| 650 – 699 | 9.85% | 10.15% |
| 550 – 649 | 10.15% | 10.45% |
| NTC / NO CIBIL Score / -1 | 9.75% | 10.05% |
SBI Realty Loan Interest Rates
| Realty Home Loan Rates w.e.f. 1/05/23 | ||
| CIBIL Score | Term Loan | Max Gain |
| > = 750 | 9.45% | 9.65% |
| 700 -749 | 9.65% | 9.85% |
| 650 – 699 | 9.75% | 9.95% |
| 550 – 649 | 9.85% | 10.05% |
| NTC / NO CIBIL Score / -1 | 6.65% | 9.85% |
SBI Tribal Plus and P-Lap Home Loan Interest Rates
| CIBIL Score | Tribal Plus Home Loan( Term Loan) | P-Lap(Term Loan) |
| > = 750 | 9.25% | 10.90% |
| 700 -749 | 9.45% | 11.10% |
| 650 – 699 | 9.55% | 11.20% |
| 550 – 649 | 9.75% | 11.30% |
| NTC / NO CIBIL Score / -1 | 9.45% | 11.10% |
Note:- Includes Flexipay, NRI Home Loan, Home Loan to Non- salaried- Differential Offering, Privilege, Shaurya & Apon Ghar
Types of SBI Home Loan and Related Terms
Regular Home Loan
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.
Eligibility for SBI Regular Home Loans
- Resident Type:- Resident Indian
- Minimum Age:-18 years
- Maximum Age:-70 years
- Loan Tenure: up to 30 years.
SBI Balance Transfer of Home Loan
A Home Loan Balance Transfer is a process where you transfer your outstanding home loan amount from your current lender to another lender, like SBI. The main objective of this step is to take advantage of better terms and conditions for e.g. lower interest rates, reduced EMI, or more favorable loan tenure etc.
Eligibility for SBI Balance Transfer of Home Loan
- Resident Type:- Resident Indian
- Minimum Age:-18 years
- Maximum Age:-70 years
- Extended Loan Tenure
SBI NRI Home Loan
SBI NRI Home Loan is designed to offers many NRIs (Non Resident Indians) to get home loans when investing in properties. SBI gives attractive home loan interest rates to NRIs for buying home in India or for only investment purposes. SBI offers many features for e.g. low interest rates, low processing fees, No Hidden charges, No pre- payment Penalty etc making it an excellent choice for NRIs.
Eligibility for SBI NRI Home Loan
- Resident Type: Non Resident Indians (NRIs) or Persons of Indian Origin (PIOs)
- Minimum Age: 18 years
- Maximum Age: 60 years
- Loan Tenure: up to 30 years.
SBI Flexipay Home Loan
This loan allows customers to start with lower equated monthly installments (EMIs) at the beginning of your loan tenure, making it easier to manage your finances during the initial years. This variant of SBI home loan is very useful for young earners.
Eligibility for SBI Flexipay Home Loan
- Resident Type: Resident Indian
- Minimum Age: 21 years
- Maximum Age: 45 years, to apply for loan, and up to age of 70 years for repayment
- Loan Tenure: up to 30 years.
SBI Privilege Home Loan
SBI Privilege Home Loan especially designed for Government Employees. 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. It also offers many features for e.g. Low Interest Rates, Zero Processing Fee, No Hidden Charges, No Pre Payment Penalty etc.
Eligibility for SBI Privilege Home Loan
- Resident Type: Resident Indians
- Minimum Age: 18 years
- Maximum Age: 75 years
- Loan Tenure: up to 30 years.
SBI Shaurya Home Loan
SBI Shaurya Home Loan scheme is committed to the Army and Defence Personnel of the nation. This home loan scheme is very special as it will provide only to the defence employees. The SBI Shaurya Home loans will offer lower interest rates and gives more benefits to the defence employee applicants.
Eligibility for SBI Shaurya Home Loan
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Maximum Age: 75 years
- Loan Tenure: up to 30 years.
SBI Pre-Approved Home Loan
As the name suggest Pre-Approved home loan in which you get your home loan before you final your property. 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.
Eligibility for Pre-Approved Home Loan
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Maximum Age: 70 years
- Loan Tenure: up to 30 years.
SBI Realty Home Loan
SBI Realty home loan 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.
Eligibility for Realty Home Loan
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Maximum Age: 65 years
- Loan Tenure: up to 10 years.
SBI Home Top Up Loan
SBI offers home Top Up loan to those customer who already have a home loan from SBI and requires more funding so this scheme is very helpful. SBI Home Top Up Loan offers lower interest rates than usual personal loan interest rates.
Eligibility for Home Top Up Loan
- Resident Type: Resident Indian & NRI
- Minimum Age: 18 years
- Maximum Age: 70 years
- Loan Tenure: up to 30 years.
SBI YONO Insta Home Top-Up Loan
YONO Insta Home Top-Up Loan is a facility made available to our pre-selected Home Loan customers over YONO Mobile App.
Eligibility for YONO Insta Home Top-Up Loan
- Pre Selected customers based on various credit checks such as satisfactory repayment, residual loan tenure etc.
SBI Home Loan to Non-Salaried – Differential offerings
This product is specifically designed for Non-Salaried Individuals offering the best possible Home Loan to customers.
Eligibility for Home Loan to Non-Salaried–Differential offerings
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Loan Tenure: up to 30 years.
- Loan Amount: Minimum: Rs. 50,000/- & Maximum: Rs. 50 crores.
SBI Tribal Plus
SBI Tribal Plus Home Loan designed especially for Hilly or Tribal areas. SBI Tribal plus Home Loan can be offers for the purchase or construction of a new house, flat, which is not more than 10 years old, and repair, renovation and extension of an existing house or flat.
Eligibility for SBI Tribal Plus
- Resident Type: Resident Indian
- Minimum Age: 21 years
- Maximum Age: 60 years
- Loan Tenure: up to 15 years.
- Maximum Loan Limit – Rs. 20 lacs (Salaried borrower), Rs. 15 lacs (Non-Salaried Borrower)
SBI Reverse Mortgage Loan
SBI Reverse Mortgage Loan offers an additional source of income for senior citizens of India. This product is beneficial for senior citizens of India who do not have enough income to support themselves. Accordingly bank makes payments to the borrower /borrowers (in case of living spouse), against mortgage of his / their residential house property.
Eligibility for SBI Reverse Mortgage Loan
- Resident Type: Resident Indian
- Minimum Age: 60 years when single borrower. In case of joint borrowers, spouse’s age should be more than 58 years.
- Loan Tenure : 10-15 years, depends on age of borrowers
SBI CRE (Commercial Real Estate) Home Loan
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.
Eligibility for SBI CRE (Commercial Real Estate) Home Loan
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Maximum Age: 70 years
- Loan Tenure: up to 30 years
SBI Loan against Property (P-LAP)
Also, we can 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.
Eligibility for SBI Loan against Property (P-LAP)
- Resident Type: Resident Indian
- Minimum Age: 18 years
- Maximum Age: 70 years
- Loan Tenure: up to 15 year
Document Required For SBI Home Loan Application
- Employer Identity Card
- Attested copy of valid Passport and visa.
- Address proof mentioning the current overseas address.
- Loan application form duly filled with 3 Passport size photographs.
- Proof of Identity for e.g. PAN, Passport, Driver’s License, Voter ID card etc.
- Proof of Residence/ Address : Recent copy of Telephone Bill, Electricity Bill,Water Bill, Piped Gas Bill, Driving License, Aadhar Card etc.
Account Statement
- Bank account details for the previous 6 months overseas account showing salary and savings and Indian account if any.
- If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year.
Property Papers
- Permission for construction
- Occupancy Certificate (in case of ready to move property).
- Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt etc.
- Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller.
- Salary Slip or Salary Certificate of last 3 months.
For More information about home loans visit the official site of State Bank of India Click Here.
Nupur Tanan
"Nupur Tanan" works at Financewisdom.in. She has experience in writing a vast range of varied content. She write knowledgeable, well-researched, and engaging articles on various personal finance and banking related topics.