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SBI Home Loan: Interest Rates, Eligibility, Key Features

SBI Home loans: Under regular SBI home loans, interest rates for women are slightly lower than that for others.

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SBI Home Loan: Interest Rates, Eligibility, Key Features

SBI charges interest on regular home loans on the basis of daily reducing balance.


State Bank of India (SBI) offers home loans at interest rates starting from 8.75 per cent per annum for loans up to Rs 30 lakh, according to its website homeloans.sbi. Home loan is a product, where customers take loan to buy or renovate house against the same property as collateral. Under regular SBI home loans, interest rates for women are slightly lower than that for others. For example, on home loans ranging between Rs 30 lakh and Rs 75 lakh, SBI charges an interest rate to the tune of 8.95-9.05 per cent for salaried borrowers, according to its website. In case of female borrowers, SBI offers lower interest rates between 8.90 and 9 per cent for the same category. (Also read: Service Charges Levied By State Bank Of India (SBI) For Different Facilities)

Eligibility to avail SBI regular home loans

In order to avail SBI regular home loans, a borrower must be a Indian resident of minimum 18 and maximum 70 years of age, according to SBI's website.

(Also read: This SBI Gold Scheme Works Like A Fixed Deposit )

Interest rates of SBI regular home loans

CategoryHome Loan (Term Loan)
 Up to Rs 30 lakhAbove Rs 30 lakh and up to Rs 75 lakhAbove Rs 75 lakh
Salaried   
Women8.75-8.85 % p.a8.90-9.00% p.a9.00-9.10% p.a
Others8.80-8.90 % p.a8.95-9.05% p.a9.05-9.15% p.a
Non-Salaried   
Women8.90-9.00 % p.a9.05-9.15% p.a9.15-9.25% p.a
Others8.95-9.05% p.a9.10-9.20% p.a9.20-9.30% p.a

(As mentioned on homeloans.sbi)

Other features of SBI regular home loans

SBI charges interest on regular home loans on the basis of daily reducing balance. The repayment period of SBI home loans is spread across 30 years. Interest concession is offered to women buyers and home loan is available as an overdraft, according to SBI's website.



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