State Bank of India (SBI) has decreased Home Loan Interest Rates, Check Here

SBI Home Loan Interest Rate: The largest Bank in India – State Bank of India (SBI) has decreased the interest rate on Home Loan. This is a very good news for all the individuals looking to take loan for purchasing a new home. SBI is offering a very simple and easy way to take Home Loan. First let’s check the interest rate on Home Loans offered by SBI.

Loan Type	Interest Rate
Home Loan (TL)	8.25% to 9.20%
Home Loan Maxgain (OD)	8.45% to 9.40%
Tribal Plus Home Loan	8.35% to 9.30%
Top Up Loan	8.55% to 11.05%
Top Up (OD) Loan	8.75% to 9.70%
Loan Against Property (P-LAP)	9.75% to 11.05%
Reverse Mortgage Loan (RML)	11.30%
YONO Insta Home Top Up Loan	9.10%

Note: Interest rates are based on CIBIL Score. All home loans are linked to External Benchmark Rate (EBR). Prevailing EBR = 8.90% (RBI REPO Rate 6.25% + Spread 2.65%). Effective from 15.02.2025.

The minimum home loan interest rate is 8.25% only. Click here to calculate Home Loan EMI.

Documents Required for SBI Home Loan

Personal Identification

• Employer ID Card
• Loan Application Form (Duly filled, with three passport-size photographs)
• Proof of Identity (Any one): PAN, Passport, Driver’s License, or Voter ID
• Proof of Address (Any one): Recent Telephone, Electricity, Water, or Piped Gas Bill, or Passport, Driving License, Aadhaar

Property Documents

• Construction Permission (if applicable)
• Registered Agreement for Sale/Allotment Letter/Stamped Agreement for Sale
• Occupancy Certificate (for ready-to-move properties)
• Share Certificate (Maharashtra only), Maintenance Bill, Electricity Bill, Property Tax Receipt
• Approved Plan Copy & Registered Development Agreement (for new properties)
• Payment Receipts or Bank Statement showing payments to the Builder/Seller

Bank Statements

• Last 6 months’ bank account statements for all accounts
• Loan account statement (if any existing loan) for the last 1 year

Income Proof

For Salaried Applicants/Co-applicants/Guarantors:

• Last 3 months’ salary slips or certificate
• Form 16 (last 2 years) or IT Returns (last 2 financial years)

For Non-Salaried Applicants/Co-applicants/Guarantors:

• Business Address Proof
• IT Returns (last 3 years)
• Balance Sheet & Profit & Loss Account (last 3 years)
• Business License Details (or equivalent)
• TDS Certificate (Form 16A, if applicable)
• Qualification Certificate (for CA, Doctors, and other professionals)

How to apply for SBI Home Loan?

SBI has made the application process very simple and easy. You can check all details about SBI Home Loan and apply online: https://homeloans.sbi/products/view/regular-home-loan