SBI Home Loan Features and Benefits

State Bank of India (SBI) offers home loans at attractive interest rates starting from just 6.70% p.a. Whether you need a loan to build a new home or to renovate an existing one, SBI has a range of home loan schemes for your unique requirements. The bank lets you borrow upto Rs 10 crore for a maximum of 30 years, depending on your eligibility.
  1. Loan Amount: SBI offers a variety of home loan schemes that provide a loan amount of up to Rs.10 crores to meet the diverse needs of individuals coming from different sections of society.
  2. Interest Rate: To ensure that everyone is able to afford a house, SBI Home Loan offers a competitive interest rate that starts from 6.80%. Hence, making its EMIs affordable.
  3. Prepayment/Foreclosure Charges: SBI Home Loan can be foreclosed or prepaid with no additional charges.
  4. Processing Fees: The processing fee of SBI Home Loan starts from 0% and goes up to 0.50%, depending upon eligibility and the home loan scheme selected.
  5. Application Process: Customers can apply for a SBI Home Loan either by visiting the nearest branch, or simply logging in online - from the comfort of their home.
  6. Flexible Tenure: SBI Home Loan can be repaid within a maximum tenure that goes up to 30 years. The tenure is flexible and can be chosen as per the repayment ability.
  7. Balance Transfer Facility: SBI allows all its customer to transfer their existing home loan to another bank or NBFC without any prepayment charges to avail better rates and benefits
  8. Minimum Documentation: To make the home loan process easy and disbursal quick, SBI asks for minimum documentation from its customers