SBI home loan interest rates

When you’re searching for the most affordable home loan interest rates from the market, you should give State Bank of India a thought. State Bank of India home loan interest rates are one of the best rates that are available to you in India.

About State Bank of India Home Loan Interest Rates
State Bank of India

home loan interest rates are one of the most competitive rates that you will get in the market. The rates are subject to change as per the sole discretion of SBI.

 

Base Rate= 10.00% p.a.

Loan Amount	Linkage with Base Rate over the tenor of the loan	Present Effective Rate
Upto Rs. 30.00 lacs	0.75% above Base Rate	10.75% p.a.
Above Rs. 30.00 lacs and upto Rs. 75.00 lacs	1.00% above Base Rate	11.00% p.a.
Above Rs. 75.00 lacs	1.25% above Base Rate	11.25% p.a.

 

 

 

 

 

 

 

Note: SBI Easy Home Loan and SBI Advantage Home Loan (teaser rate products) have been replaced by floating interest rate schemes on par with other commercial banks.

SBI Premium Home Loan option is for loan amount above Rs.75 Lacs. The interest rate charged is 1.75% over the Base Rate, present effective rate being 9.75% p.a and there is no Fixed Interest Rate option.

Processing fees for State Bank of India home loans
The table given below will give you a fair idea about the reviewed processing fee

structure (comprising service tax) with effect from May 2011:

 

 

 

Loan Amount	Processing Fee
Upto Rs.25 Lakhs	0.25% of loan amount
More than Rs.25 Lakhs and upto Rs.75 Lakhs	Rs.10,000/-
More than Rs.75 Lakhs	Rs.20,000/-

 

 

 

 

 

Pre-closure Penalty
You will not be asked to pay any prepayment penalty in case the loan is preclosed from your own source of funds/windfall profits/savings for which documentary proof is furnished by the customer.

Repayment term of State Bank of India home loans
The maximum repayment period for a SBI home loan is 25 years or the borrower attaining the age of 70 years (by which time the loan has to be paid in full), whichever comes in the first place.

Repayment holiday/moratorium period for SBI home loans
The moratorium period or repayment holiday will be incorporated into the maximum repayment term of the loan.
 

For more information, visit the official website of SBI www.statebankofindia.com