SBI Home Loan Fastest Approval




State Bank Home Loan Fastest Approval: You can avail various types of house loans that suit your individual needs at the lowest rates and with easy finance to get you dream home. Actually home loans are depends or provides on the basis of market value, especially estimation given by banks or the registration value of the property. Even you can also apply for home loan before you select home property. You can get loan amount that would be based on your repayment capacity. So, if you are planning to get home loan then you will have to follow the instruction first and then go through proper channels to avail this amount. Anyone can apply for home loan whether a salaried person or a businessman. A salaried person can increase their eligibility to take home loan by showing their performance linked income or bonus earned.

The State Bank of India is one the largest commercial bank in India and it has a history of 200 years in the field of commercial bank in India. State Bank of India (SBI) is very popular and famous not only in India but also globally, because of its assets, deposits, profits, branches, customers, employees and services. State Bank of India is one of the most favored Home Loan providers in India as it offers Home Loan with attractive interest rates along with Latest Schemes and Benefits. According to the latest news SBI introduced Flexi Pay Teaser Home Loan for young professionals also. SBI also provides home loans under various schemes, like- Easy Home Loan, Advantage Home Loan, SBI Home Plus, Her home loan for women etc. Home Loan SBI

State Bank of India Home loan general details:

1 Rate of interest 9.50% - 9.55%
2 Processing fees for home loan NIL (Valid till 31-03-2016 under festive offer)
3 Prepayment charges Nil
4 Repayment options 30 years
5 Loan to Value Upto 90%
6 Max. loan amount Upto Rs.10 crore

Home Loan Interest Rate (Men/Women)

Home Loan (State Bank of India) Interest Rates were 9.80% (For Women), 9.85% (For Men) before October 2015, but after that it goes down to 9.50% (For Women), 9.55% (For Men). So it helps borrowers to save their money for whole loan amount duration. Directly you can save Rs 158256 in 30 years tenure if you take 20 lakhs home loan amount for 30 years. Before apply for home loan you should know about various necessary parameters such as processing fee, hidden charges, pre-payment charges, partial pre-payment charges, per lakh EMI, lowest EMI, tenure period, etc. For latest rate of interest you can check below table.
Bank Name Home Loan Interest Rates (Irrespective of Loan amount limit) Maxgain Home Loan Above 1 Crore
SBI (State Bank of India) 9.50% (For Women), 9.55% (For Men) 9.75% (For Women), 9.80% (For Men)
 
S.NO Package of exclusive benefits on State Bank of India Home loan
1 Low interest rates. Further, they charge interest on a daily reducing balance on given amount.
2 Low processing charges on given amount.
3 No hidden costs or administrative charges.
4 No prepayment penalties. Reduce your interest burden and optimally utilize your surplus funds by prepaying the loan
5 Over 13,700 branches nationwide, you can get your Home Loan account parked at a branch nearest to your present or proposed residence
6 Home Loan account parked at a branch nearest to your present or proposed residence.
 Note: State Bank Home Loan gives rates concessions on green home loan.  If you want to know about various necessary parameters that are related to the Home Loan then you can check all these details from the given information and can also compare it with other banks. This will definitely help you to chose right way.



S.NO Bank Name Floating Interest rate Per lakh EMI Processing Fee Prepayment Charges % Change in last 6 months
1 L&T Housing Finance 9.65% - 10.25% (for Salaried/ SEP) 9.65%-10.50%(SENP) Rs.942 - Rs.982 (for Salaried/ SEP) Rs.942 - Rs.998(SENP) 0.25% -1%OR Rs.10000 whichever is higher +ST, subject to customer profile NIL
2 SBI - State Bank Of India 9.50% (For Women), 9.55% (For Others) Rs.932 (For Women), Rs.935 (For Others) Festive Offer* Zero Processing Fee Nil 1.52%
*Valid till 31-03-2016
3 ICICI Bank Up to 5 Cr 9.50 %( For women),9.55%(for others) Up to 5 Cr Rs.932( For women),Rs.935(for others) 0.50% of loan amount upto 1 crore N.A 1.44%
4 HDFC Ltd 9.50% (For Women), 9.55% (For Others) Rs.932 (For Women), Rs.935 (For Others) 0.5% or maximum 10,000+service tax (12.36%) No prepayment charges shall be payable for partial or full prepayments irrespective of the source 1.98%
5 LIC Housing 9.60% Rs.939 Up to 50 lacs : 10,000 +(Service tax) Nil No Change
50 lacs & above : 15,000 +(service tax)
Zero Processing fee for Women
(Offer Valid till 31st March 2016)* T&C apply
6 AXIS Bank 9.50% - 9.65% Rs.932 - Rs.942 Upto 1% of the loan amount subject to minimum of Rs.10,000/- Nil 0.90%
7 DHFL 9.55%(upto 25lacs),then 9.65% Rs.935(upto 25lacs),then Rs.942 1% for Salaried & 1.5% for SENP NIL 2.46%
8 IDBI 9.75% Rs.949 NIL If Balance Transfer then 2% Otherwise Nil 0.97%
9 Union Bank of India 9.65% - 10.40% Rs.942 - Rs.992 N.A NIL 2.50%
10 Bank of India 9.70% Rs.945 0.25% of loan amount Min.Rs.1,000 and Max. Rs.20,000/- Nil 2.45%
11 Indiabulls Housing Finance Limited 9.55% (upto 3 cr),then 10.25% Rs.935 (upto 3 cr),then Rs.982 Below 28 lacs = Rs.7500 28 lacs- 50 lacs = 0.50% Above 50 lacs = 0.5% to 1.00% of the loan amount NIL 2.46%
12 Corporation Bank 9.65% Rs.942 0.50% of Loan amount (Max.Rs.50,000/-) NIL No Change
13 United Bank of India 9.75% Rs.945 N.A N.A
14 Tata capital Housing Finance ltd 9.60% (Salaried), 9.80% (SEP/SENP) Rs.939 (Salaried), Rs.952 (SEP/SENP) 0.20 (Minimum Rs. 5,000) to 0.25% off the loan amount + Service tax N.A N.A
15 HSBC Bank 9.55% - 10.05% (for Salaried) 9.55% - 10.10%( for Self Employed) Rs.935 - Rs.968 (for Salaried) 1% of the loan amount applied for, subject to a minimum of Rs 10000 plus service tax. This fee is payable on application and is not refundable Nil N.A
Rs.935 - Rs.971 (for Self Employed)
16 Indian Bank 9.65% Rs.1302 0.25% of loan amount with a maximum of Rs.20,000 Nil 2.92%
17 Deutsche Bank 10.50% Rs.998 12000 + Service Tax Nil N.A
18 Standard Chartered 9.75% Rs.949 0.5 % - 1.50% NIL 1.55%
19 Federal Bank 9.68% - 9.83% Rs.944 - Rs.954 0.50% of the limit sanctioned with a minimum of 3,000+ST, maximum of 7,500+ST N.A No Change
20 Allahabad Bank 9.95% Rs.961 NIL NIL 2.92%
21 Central Bank of India 9.95% Rs.962 Rs.20000/- or .50% of loan amount subject to maximum Nil 2.38%
22 UCO Bank 9.70% Rs.945 0.5% of the loan amount, minimum Rs.1500/- & maximum Rs. 15000/- NIL 2.45%
23 Bank of Baroda 9.65% Rs.942 0.25% of loan amount Min.Rs.1, 000 and Max. Rs.20,000/- N.A. No Change
24 Canara Bank 9.65% Rs.942 1.96%
25 Kotak Bank Upto 14.5% Rs.1280 upto 1.25% 2% on Balance transfer else NIL 4.65%
26 Dena Bank 9.70% Rs.945 0.50% of sanctioned limit Nil 2.50%
27 Vijaya Bank 9.65% Rs.942 N.A N.A 0.49%
28 Syndicate Bank 9.7 Rs.888 Min. Rs.500/- & Maximum up to Rs.5000/- N.A 2.43%
29 PNB Housing Finance 9.75% - 9.95% (Salaried / S.E Prof) 9.95% - 10.25% (S.Emp Non Prof) Rs.1059 - Rs.1072(Salaried / S.E Prof) Rs.1072 - Rs.1090 (S.Emp Non Prof) 0.50% NIL No Change
30 Citibank 9.85% - 9.95% Rs.955 - Rs.962 Rs. 5000 (Application fee) NIL No Change
31 Oriental Bank of Commerce 9.90% -10.40% Rs.958 - Rs.992 NIL NIL No Change
32 Indian Overseas Bank 9.90% Rs.958 A flat rate of 0.58% of the loan amount- maximum of Rs. 10,190/- There is no hidden charge. This is subject to change from time to time without prior intimation. N.A 1.95%
33 Punjab National Bank 9.60% Rs.939 NIL NIL 2.43%
34 Development Credit Bank 11.50% Rs.1066 1% Nil N.A
35 State Bank of Travancore 9.95% Rs.962 upto Rs.25,000 - Nil NIL N.A
Rs.25,000 above to Rs.2 lacs - Rs.500/-
Rs.2 lacs above- 0.50% of the loan amount maximum Rs.10000/-
36 Bank of Maharastra 9.70% Rs.945 0.25% of the loan amount (subject to maximum of Rs.25000/-) Nil No Change
37 Dhanalakshmi Bank 11.40% Rs.1060 1.00 % of loan amount + service tax (subject to minimum of Rs. 10,000 + service tax) N.A
Note: Interest rates given here are based on the market research and hence you are advised to recheck the same with the individual companies or organizations before apply for home loan as these are variable.

State Bank - Home Loan Feature

  • SBI provides lowest interest rates starting at 9.50% for female borrowers and 9.55% for male borrowers.
  • You can take benefits on top up loans at same rate of interest with balance transfer or home loan takeover.
  • Home loan tenure upto 30 years for borrowers.
  • Borrowers will not have to pay prepayment charges on floating rates loans.
  • Borrowers save interest on surplus amount with Maxgain overdraft facility.
  • You can also apply for large number of pre-approved builder projects across metro city, tier-2 cities and tier-3 towns.
  • Borrowers can trust on the various schemes that come with SBI - Home Loans.

Home Loan Feature and unique advantages

S.NO Loan Feature and unique advantages
1 You can get package of exclusive benefits.
2 Low interest rates advantage.
3 Interest calculation on a daily reducing balance.
4 Home Loan also available as an Overdraft.
5 You can optimally utilize your surplus funds.
6 Low processing charges for home loan.
7 No hidden costs or administrative charges.
8 No prepayment penalties.
9 Reduce your interest burden by prepaying the loan.
Name of Bank Loan Amount Minimum Salary Requirements Tenure/ Time period
SBI Home loan It will be determined taking into consideration such factors as applicant’s income and repaying capacity, age, assets and liabilities, cost of the proposed house/flat etc. Not Available here Maximum 30 years or up to the age of 70 years of the borrower whichever is early.

SBI- home loan change in future accordingly under RBI direction

  • On home loan, Floating interest rate is depends on the base rate. Currently base rate on State Bank home loan is 9.30% and 0.2% premiums on its base rate, So SBI offers a home loan at 9.5% rate of interest.
  • If RBI changes interest rates in future then the bank may change its base rate and the applicable interest rate for all existing and new home loans would change.
  • So according to the RBI direction users home loan interest will affect.

Eligibility for Home Loan by SBI

If you want to buy home and need more money than State Bank offers you home loan which is the easiest way to fulfill your dream but required amount is depends upon many factors. Any salaried individuals and self employed professionals or businessmen can apply for home loan. You can also include your family members like, spouse/parents/children as co-applicant if you require higher eligibility subject to maximum of three applicants. It will increase your eligibility for SBI- home loan. You can also check some important eligibility criteria and documents that are necessary for State Bank of India home loan.

Eligibility Criteria and Documentation required for SBI Home Loan

S.NO Salaried person Self employed person
1 Age of the applicants 18 years to 70years 21 years to 70 years
2 Income of applicants Rs.1,20,000 (p.a.) Rs.2,00,000 (p.a.)
3 Loan Amount Offered by the bank 5,00,000 - 1,00,00000 5,00,000 - 2,00,00000
4 Tenure 5years-20years 5years-20years
5 Current Experience 2years 3years
6 Documentation required for the loan 1) Application form with photograph 1) Application form with photograph
2) Identity & residence proof 2) Identity & residence proof
3) Last 3 months salary slip 3) Education qualifications certificate & proof of business existence
4) Form 16 4) Business profile,
5) Last 6 months bank salaried credit statements 5) Last 3 years profit/loss & balance sheet
6) Processing fee cheque 6) Last 6 months bank statements
7) Processing fee cheque.

How to Apply For the Home Loan in SBI

  • Go to the official website first.
  • Get all the necessary information from the official website before apply for home loan.
  • You can also visit the nearest SBI branch to get important information.
  • Check your eligibility for getting a home loan from SBI.
  • You can fill the home loan application in online mode as well as in offline mode.
  • Submit necessary documents.
  • After enquiry you can get the loan amount.
  • If you are filling form online then you need to get instant approval first
  • For instant approval visit the official site.
  • Link: sbi.co.in/personal-banking/home-loan

How to Get Instant Approval for the loan

You can get instant approval for State Bank of India - home loan by going through some simple route. First of all you will have to clear your eligibility for loan. Then after satisfy for your loan offer you can complete the loan application.
  • GET ELIGIBILITY
  • LOAN OFFER
  • COMPLETE APPLICATION
For your eligibility you will have to fill some basic details like.
  • Property Details
  • Applicant Details
  • Preferred Location
  • Income Details
  • Add A Co-Applicant

Contacts for Information

Registered Office-State Bank of India State Bank Bhavan Central Office 8th Floor, Madame Cama Marg, Nariman Point, Mumbai – 400021. Maharashtra – India Call: 1800 425 3800 (Call 1800112211, Toll free from BSNL/MTNL)

SBI Customer Care Number

City Name Customer Care Number
·         Agra Ø  979-350-2211
·         Ahmedabad Ø  972-434-2211
·         Ambala Ø  999-637-2211
·         Anand Ø  972-434-2211
·         Aurangabad Ø  973-001-2211
·         Bangalore Ø  973-193-2211
·         Bhilai Ø  989-328-2211
·         Bhilwara Ø  979-933-2211
·         Bhiwadi Ø  973-001-2211
·         Bhopal Ø  989-328-2211
·         Bhubaneswar Cuttack Ø  977-745-2211
·         Bikaner Ø  979-933-2211
·         Chandigarh Ø  977-916-2211
·         Chennai Ø  979-094-2211
·         Cochin Ø  999-539-2211
·         Coimbatore Ø  979-191-2211
·         Dehradun Ø  976-020-2211
·         Delhi Ø  995-880-2211
·         Durg Ø  989-328-2211
·         Faridabad Ø  995-880-2211
·         Gandhinagar Ø  972-434-2211
·         Ghaziabad Ø  995-880-2211
·         Goa Ø  973-001-2211
·         Greater Noida Ø  995-880-2211
·         Gurgaon Ø  995-880-2211
·         Guwahati Ø  995-705-2211
·         Gwalior Ø  989-328-2211
·         Hyderabad Ø  995-919-2211
·         Indore Ø  989-328-2211
·         Jabalpur Ø  989-328-2211
·         Jaipur Ø  979-933-2211
·         Jalandhar Ø  977-916-2211
·         Jodhpur Ø  979-933-2211
·         Kanpur Ø  979-350-2211
·         Karnal Ø  999-637-2211
·         Kolhapur Ø  973-001-2211
·         Kolkata Ø  974-842-2211
·         Kota Ø  979-933-2211
·         Kozhikode Ø  999-539-2211
·         Lucknow Ø  979-350-2211
·         Ludhiana Ø  977-916-2211
·         Madurai Ø  979-191-2211
·         Meerut Ø  976-020-2211
·         Mehsana Ø  972-434-2211
·         Mohali Sas Nagar Ø  977-916-2211
·         Mumbai Ø  998-755-2211
·         Mussoorie Ø  976-020-2211
·         Nagpur Ø  973-001-2211
·         Nashik Ø  973-001-2211
·         Noida Ø  995-880-2211
·         Noida Extn. Ø  995-880-2211
·         Panipat Ø  999-637-2211
·         Patna Ø  995-595-2211
·         Pondicherry Ø  979-191-2211
·         Pune Ø  973-001-2211
·         Raipur Ø  989-328-2211
·         Rajkot Ø  972-434-2211
·         Ranchi Ø  995-595-2211
·         Rohtak Ø  999-637-2211
·         Roorkee Ø  976-020-2211
·         Salem Ø  979-191-2211
·         Shimla Ø  980-509-2211
·         Sonepat Ø  999-637-2211
·         Surat Ø  972-434-2211
·         Trichy Ø  979-191-2211
·         Udaipur Ø  979-933-2211
·         Vadodara Ø  972-434-2211
·         Varanasi Ø  979-350-2211
·         Vijaywada Ø  995-919-2211
·         Vizag Ø  995-919-221

Some FAQS for SBI home loan

Q 1. Who eligible for the SBI loan amount? Bank will check your Income capacity according to the loan that you will be able to pay this loan or not. Another side Bank will also confirm your age, qualification, number of dependants, your spouse’s earning, assets & liabilities savings history and the stability & continuity of occupation. Q 2. Is a tax benefit available on the SBI loan? Yes. There are available tax benefits on SBI loan. Under the section 1961, according to the tax rule you are eligible for tax benefits on the leading and interest section of your Home loan. Benefits may vary each year, at the time of taking loan, you must check with your loan counselor about the tax benefits on which you can avail loan. Q 3. If I buy a new property, so throughout my obtainable loan account can I get a Can I get a superior loan? Yes, you are a 'top-up loans ' , making your existing loan (which you have to buy your current home ) , with additional funding for the incremental cost of the new house in a new house can be transferred , subject to the may be your credit worthiness . This means that the pre-payment of your existing loan without having to go through the hassle can move into their new home. Q 4. The Property is under construction? A property of a house under construction, which is built and where possession will be handed over to the buyer at a later date is in the process of being refers to.Q 5.is it possible to that I can pay my loan before the timetable? Yes, it is possible that you can pay your loan before the schedule. Note: This webpage is completely dedicated to the ‘home loan service of SBI’. So if you like given information then you can bookmark this webpage and visit here again to get latest updates about SBI - home loan.

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