Loan Details

Interest Rate

6.65% onwards

Processing Fee




0% prepayment


Up to 30 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
SBI Home Loan Details

a. Age: 18 - 70 years

b. Credit score: minimum 650 and above

c. Employment Type: Salaried or self-employed individuals

d.Minimum net income (monthly): Rs. 25,000

e. Work experience: 2 years (minimum) for salaried employees

5 years for self-employed individuals (for business stability)

The following documents and supporting documents are required to apply for an SBI home loan:

  • Employer ID card
  • Loan application duly filled, processed, and completed
  • Any 1 identity proof
  • Any 1 address proof
  • Property papers
  • 6-month account statements for all bank accounts
  • Income proof for salaried applicant / co-applicant / guarantor
  • Income proof for non-salaried / co-applicant-guarantor

The loan verification process for an SBI home loan is simple:

  1. The application can be made online or by visiting the nearest SBI branch
  2. Any SBI representative will collect the filled application and other mandatory documents
  3. Background checks and verification are conducted regarding home and professional information
  4. If any of the requirements are not met, the loan is denied at this stage
  5. If all the requirements are met, SBI sends a letter mentioning the loan interest rate and tenure fixed by them

SBI home loan interest rate is 6.70% onwards.

However, the interest rate varies as per the credit score of the loan applicant and also based on:

  • The loan amount
  • Employment type
  • Type of loan scheme
  • Interest rate structure