Interest Rates charged on Maxgain Home Loan by State Bank of India:

• Maxgain above Rs. 20 lacs & upto 75 lakh = 8.75% p.a. (Female Borrowers), 8.80% (Other borrowers)
• Maxgain above Rs 75 lakh = 8.95% p.a. (Female Borrowers), 9.00% (Other borrowers)
• CRE Maxgain, irrespective of loan limit = 9.05% for Women & 9.10% for Other borrowers are applicable.

SBI offers this loan to purchase a plot for construction of house. Construction of house should commence within 2 years from the date of availment of SBI Realty Loan.

• Maximum loan amount a borrower can get Rs.10 crores
• Maximum Repayment period under Realty Home loan is 15 Years.

• SBI PAL provides sanction of Home Loan limits to the customers before finalization of the property which enables them to negotiate with the Builder/Seller confidently.
• The loan eligibility will be assessed on the basis of income details of the applicant.
• Non-refundable processing fee as applicable to the Home Loan will be collected at the time of sanction.
• Pre-approved loan arrangement letter (PLAL) will be valid for a period of 4 months. Property papers will be required to be submitted by the borrower within the validity of PLAL. Processing fee will not be levied again.
• Under Pre Approved Home Loan Scheme Minimum Loan amount: Rs.10 Lacs.

• SBI Flexipay Home loan
• SBI Maxgain
• SBI Hope Loan
• NRI Home Loans
• SBI Realty
• SBI Pal
• SBI Tribal Plus
• Gram Niwas
• Sahyog Niwas
• SBI Privilege Home Loan
• SBI Shaurya Home Loan
• SBI Top Up Home Loan
• SBI Reverse Mortgage Loan

SBI Hope Loans is a new initiatve by State Bank of India (SBI) designed for both fortunate and underpriviledged sections of the society. 'Hope' loans will be an add-on to the attractive benefits (lowest interest rates) of SBI home loan.

• Interest rates (w.e.f. 01 October 2016) for home loans is 9.25% for women and 9.30% p.a. for others.

SBI Tribal Plus is a Special Home Loan Scheme designed for Hill/Tribal areas (where mortgage of the property is not possible) for extending financial assistance to individuals. This loan is sanctioned for Purchase or construction of a new house/flat (without mortgage of land).

• Maximum loan amount is Rs.10 Lacs
• Maximum Repayment period is 15 years

The home loans under Gram Niwas Scheme are sanctioned for purchase/construction/repair and renovation of house and purchase of plot for construction of a house/shed etc. The scheme covers all Rural and Semi-urban centres having population upto 50,000 as per 2001 census.

• Maximum laon amount is Rs.5 Lacs
• Maximum Repaymenet period is 15 years

SBI Sahyog Niwas Home Loan scheme is for Self help groups in rural areas, having good paymenet record of 2 years, for on lending to their members for purchase or construction of a house exclusively or including the housing needs of activitied carried by Dairy shed, tailoring shed/shop, grocery stores etc.

• Maximum loan amount per member is Rs.50,000

The applicants eligible for SBI Shaurya Home Loan scheme are Defense Personnel belonging to Army, Navy and Air force.

• Full wavier of processing fees
• Lower interest rate as a concession of 5bps over the Home Loan Card Interest Rate is available whrever check-off facility is extended by the Government inder tie-up arrangement with the Bank
• Customers of other Banks/Fls to switchover their Home Loan outstanding balance to State Bank of India
• Extended repayment upto the age of 75 years as against 70 years under normal Home Loan scheme. The maximum loan term, however, shall remain capped at 30 years

SBI Reverse Mortgage Home Loan is for the welfare of senior citizens in India. The house-owning senior citizens having inadequate income canavail this loan to meet their financial needs for renovation/repairs to house, medical & other personal uses.

• Maximum loan amount is Rs.10,000
• No compulsion for the borrower to repay the loan amount during his or her lifetime or till such time he/she stays in the house.

This home loan is for Non-Resident Indians (NRIs) & Persons of India Origin (PIOs) who have a regular source of income.

• Minimum employemnet tenure in India/Abroad should be 2 years
• There is no maximum amount limit for this home loan scheme.

Under this scheme all borrowers who paid home loans with a satisfactory repayment track of at least one year are eligible.

• Minimum Top-up Loan is Rs.3 Lac & Maximum is Rs.5 Crore.
• Processing Fees: Zero Processing Fee* Valid till 31st March'17.

Interest Rates charged on Top-up loan is different from Normal Home Loan.

FAQS about SBI Home Loans:

How will SBI decide the loan amount I am eligible for?
Bank will determine your loan eligibility mostly by your income and repayment capacity. Other important factors include your age, qualification, number of dependants, your spouse's income (if any), assets & liabilities, savings history and the stability & continuity of occupation.

Do I get tax benefits on the SBI home loan?
Yes. You are eligible for tax benefits on the principal and interest components of your Home Loan under the Income Tax Act, 1961. As the benefits could vary each year, please do check with our Loan Counselor about the tax benefits which you could avail on your loan.

Can I get a higher loan through my existing loan account to buy a new property?
Yes, you could go in for a ‘Top up Home Loan’ whereby your existing loan (which you took to buy your current home) could be transferred to the new house with additional funds for the incremental cost of the new house, subject to your loan eligibility. This means you can move into your new home without having to go through the hassle of pre-paying your existing loan.

What is an under construction property?
An under construction property refers to a home which is in the process of being constructed and where possession would be handed over to the buyer at a subsequent date.

Can I repay my loan ahead of schedule?
Yes, you can repay the loan ahead of schedule by making lump sum payments towards part or full prepayment, subject to the applicable prepayment charges.