SBI Home Loan — Features and Rates
State Bank of India (SBI) is the largest public sector bank in India and one of the most popular home loan providers. SBI home loans are known for their competitive interest rates, wide network, and flexible repayment options. SBI offers home loans for purchase of property, construction, renovation, and balance transfer from other lenders.
SBI's home loan interest rates are linked to the RBI repo rate and are among the lowest in the industry. SBI also offers special interest rate concessions for women borrowers (0.05% lower), for properties under the PMAY scheme, and for loans above certain thresholds.
How this SBI home loan calculator helps you
SBI home loan interest rates (indicative)
| Loan Category | Interest Rate | Processing Fee |
|---|---|---|
| Home Loan (up to ₹75 Lakh) | 8.40% - 8.65% | 0.35% |
| Home Loan (₹75 Lakh - ₹5 Cr) | 8.45% - 8.70% | 0.35% |
| Home Loan (above ₹5 Cr) | 8.50% - 8.80% | 0.35% |
| PMAY Subsidy Eligible | 8.15% - 8.40% | Nil |
| Balance Transfer | 8.40% - 8.65% | 0.25% |
Rates are indicative and subject to change. Actual rates depend on the borrower's CIBIL score, loan amount, tenure, and relationship with the bank.
Factors that affect your SBI home loan EMI
Loan amount: A higher property price or lower down payment increases the loan amount, which directly increases your EMI.
Interest rate: Even a 0.25% difference in rate can save or cost you several lakhs over a 20-year loan tenure.
Loan tenure: Longer tenures reduce the EMI but increase the total interest paid. Find the balance that works for you.
Credit score: A CIBIL score above 750 helps you negotiate the best rate. SBI offers preferential rates to borrowers with excellent credit histories.