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SBI is one of the largest government banks, hence provide a wide range of home loan products that cater to different needs of people.
SBI has introduced a special financial scheme called “Hope Loans”, these loans come with the additional benefit of reduced interest rates as a result of the reduced marginal cost of lending. The effective interest rates would be 9.25 percent for women and 9.30 percent for men.
This product is specifically for the tribal areas, home loans are sanctioned for purchase or construction of a new house without any mortgage. The maximum loan amount is 10 lakhs with a 15 year repayment period.
This product is well suited for rural areas with the population of maximum 50,000. Loans are provided for renovating, repairing, constructing and purchasing houses in rural or semi-urban areas. The Maximum loan amount is 5 lakhs with a 15 year repayment period. As this is intended for rural area people, there is no processing fee and no minimum loan amount.
Under this Product loans are provided to members of self-help groups for buy, construct, and renovate a house or a workspace or shed. Each self-help group will disburse the loan amount amongst its members (Buying house- 50,000, renovations- 25,000). The loan repayment period is 15 years
This home loan product is dedicated to Army and Defense personnel of India. The interest rates are low, also lower EMI’s during the post-retirement period. Repayment age up to 75 years and it also gives the provision to transfer the outstanding balance of home loans from another bank
SBI privilege home loan is specially designed for government employees ( all state or central employees with pensionable service). This scheme has many benefits such as low EMI’s post-retirement, extended repayment facility up to the age of 75 years, no processing fee and low-interest rates
This loan type allows SBI existing customers to borrow a certain amount above and over their home loan amount
This loan gives the borrowers the benefit of using their temporary surplus money to reduce the interest payable on their loan
This loan has a 1.2 times more chance of clearing the eligibility criteria for working professionals. It offers a maximum of 20 lakhs and the salaried applicant with 2 years of experience are eligible for this. They can choose to pay over a period of 30 years without any penalty fee
With SBI PAL a pre-approved loan is sanctioned before the property deal is made so that the borrower can negotiate the price of the house/ plot. A non- refundable processing fee is collected when the loan is sanctioned
You can avail a loan up to Rs 10 crore, to buy a plot or undeveloped property. The interest rate is 9.35% for women and 9.4% for others
The eligibility is calculated based on the applicants' age, income, property value and replacement capacity
This loan is for the welfare of senior citizens, they can avail a loan up to 10,000 on the existing house, which they can use for renovation, medical or personal purposes
SBI avails loans for NRI and Persons of Indian Origin loans to buy property in India, minimum employment tenure abroad must be 2 years.
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Documents Needed for Applying an SBI Home Loan (these are general documents, and are subject to change based on the type of loan)

  • Dully filled SBI loan application form 
  • Three self-attested passport size photographs 
  • Photocopy of identity proofs (voter ID card, Passport, Aadhar card, Driving license or PAN card) 
  • Residence Proof (telephone bill, electricity bill, bank statement or property tax receipt) 
  • Proof of business address for self-employed personnel 
  • Bank statement for past 6 months 
  • Personal assets and liability statement from the individual 
  • Original Salary statement from the employer 
  • Photocopies of challans for advance payment of income tax.