State Bank of India home loans are preferred by millions of home buyers across India because of their attractive interest rates at 6.80% p.a. SBI also launched a concession offer of 70 bps on interest rates and zero processing fees on loans taken till 31st March 2021. The bank allows loan tenure to be extended for a maximum of 30 years so that customers can enjoy a comfortable repayment period. 

The processing fee on home loans of SBI is 0.35%. This is calculated on the loan amount plus applicable taxes. For women borrowers, the bank offers an interest concession of 0.05% on home loans. There are no hidden charges and customers can avail a full waiver of prepayment charges.

SBI Home Loan Features & Benefits

Here are some of the noteworthy features of SBI home loans:

  • Interest rate at 6.70% p.a.
  • Flexible repayment tenure of up to 30 years
  • Interest concession for women borrowers
  • Minimal processing fees of 0.40% on the loan amount 
  • No prepayment charges on floating rate home loans
  • Multiple home loan schemes to choose from
  • Bank offers balance transfer, top-up and overdraft facilities 

SBI Home Loan Eligibility

SBI currently offers multiple home loan schemes with unique eligibility criteria. Customers who want to apply for SBI Home Loan should check the eligibility criteria to avoid loan rejection. Here are some of the common eligibility criteria among most SBI home loans:


Indian Residents/NRIs/PIOs

Employment Type

Salaried/Self Employed


18 to 75 years

Credit Score

Preferably 750 and above


Varies from case to case


Customers can make the most of low-interest rates on SBI home loans and fulfil their dream of owning a home at affordable rates. This also makes the loan repayment easier and faster.