SBI Regular Home Loan: A Detailed Exploration

SBI Regular Home Loan

In the ever-evolving landscape of home loan options, one product stands out due to its reliability, transparency, and customer-centric approach: the SBI Regular Home Loan. This blog post dives deep into the specifics, nuances, and unique features of this particular loan offering from the State Bank of India. Whether you’re a potential borrower or just curious about the home loan market in India, this guide will shed light on why the SBI Regular Home Loan might be the right choice for you.

Introduction to SBI Regular Home Loan

State Bank of India (SBI), the country’s premier banking institution, has been a pioneer in offering diverse and competitive financial products tailored to the varied needs of its vast clientele. The SBI Regular Home Loan is a testament to the bank’s commitment to helping individuals achieve their dream of owning a home.

Key Features of SBI Regular Home Loan

  1. Personalized Home Loan Solutions: With SBI Regular Home Loan, you’re not just another applicant. The bank takes into consideration individual needs and offers bespoke solutions, ensuring that the loan aligns with your financial situation and goals.
  2. Competitive and Attractive Interest Rates: When it comes to home loans, interest rates are invariably the make-or-break factor. SBI Home Loan ensures that its rates remain competitive, enabling customers to manage their monthly outflows without undue strain.
  3. Transparent Fee Structure: The SBI Regular regular home loan comes with a processing fee of 0.35% of the loan amount. While GST is applicable, the fee is capped between a minimum of Rs.2,000 (plus GST) and a maximum of Rs. 10,000 (plus GST), ensuring no hidden costs catch you off-guard.
  4. Flexibility and Freedom: Understanding that everyone’s financial journey is unique, SBI Regular home loan offers provisions for pre-payment without penalties, letting you close the loan as per your convenience.
  5. Concessions for Women Borrowers: In its initiative to promote home ownership among women, SBI offers special interest rate concessions for women borrowers.

SBI Regular Home Loan Interest Rates

>= 7509.15%9.55%
700 -7499.35%9.75%
650 – 6999.45%9.85%
550 – 6499.65%10.05%
NTC / NO CIBIL SCORE / -19.35%9.75%

Topup Loan is not permitted under Overdraft category for loans below Rs. 20 lacs and above Rs. 2.00 Crores
Maxgain available only for “Ready to Move-in” Properties.
5bps CONCESSION UNDER PRIVILEGE & SHAURYA HL & Apon Ghar HL if maintaining Salary Account with SBI under Salary Package.

The table above provides a comprehensive breakdown of the interest rates based on CIBIL scores for both the SBI Regular Home Loan Term Loan and Maxgain options. Your CIBIL score plays a crucial role in determining the rate you qualify for, emphasizing the importance of maintaining a good credit history.

Why – Maxgain?

SBI has designed the Maxgain variant of the Regular Home Loan as an overdraft facility. Borrowers can use this feature to park surplus funds in the Maxgain account, and they can withdraw these funds when needed. This arrangement minimizes the interest outflow because the surplus amount is considered for interest calculation.

Documentation for SBI Regular Home Loan

When considering an application for the SBI Regular Home Loan, the State Bank of India (SBI) requires applicants to provide specific documents to ensure the transparency and validity of the loan process. These documents help the bank gauge your financial stability, verify your identity, and ascertain the legality of the property in question.

General Documents for SBI Regular Home Loan:

  • Employer Identity Card: To validate the applicant’s current employment status and designation.
  • Loan Application: A completed loan application form, filled in with accurate details, accompanied by three passport-sized photographs.
  • Proof of Identity (Any one): This could be your:
    • PAN Card
    • Passport
    • Driver’s License
    • Voter ID card
  • Proof of Residence/Address (Any one): You can submit a recent copy of:
    • Telephone Bill
    • Electricity Bill
    • Water Bill
    • Piped Gas Bill
    • Alternatively, you can also provide a copy of your Passport, Driving License, or Aadhar Card.

Property Documents:

SBI requires thorough documentation related to the property for which the loan is being sought. This is to ensure the legal standing and validity of the property.

  • Permission for construction:Necessary for a property that is yet to be constructed.
  • Registered Agreement for Sale (Specifically for Maharashtra) or Allotment Letter or Stamped Agreement for Sale.
  • Occupancy Certificate: Required if the property is ready to move into.
  • Share Certificate (For Maharashtra residents), Maintenance Bill, Electricity Bill, and Property Tax Receipt.
  • Approved Plan copy (Xerox Blueprint) & the Registered Development Agreement of the builder. the Conveyance Deed will be required for new property.
  • Payment Receipts or bank account statements showing all the payments made to the builder or seller.

Account Statements:

  • Last 6 months Bank Account Statements: For all bank accounts held by the applicant or co-applicant/s.
  • If you have taken any previous loans from other banks or lenders, then a Loan Account statement for the last year is needed.

Income Proof for Salaried Applicants:

  • Salary Slip or Salary Certificate of the last 3 months.
  • Form 16 for the last 2 years or IT Returns for the last 2 financial years, which should be acknowledged by the IT Department.

Income Proof for Non-Salaried Applicants:

  • Business Address Proof.
  • IT Returns for the last 3 years.
  • Balance Sheet & Profit & Loss Account for the last 3 years.
  • Details of the Business License or its equivalent.
  • If applicable, TDS Certificate (Form 16A).
  • Certificate of Qualification: This is especially for professionals like Chartered Accountants, Doctors, and other specialists.

How to Apply for SBI Regular Home Loan ?

Eligibility criteria for the SBI Regular Home Loan include:

  • Resident Indian status.
  • Age bracket between 18 and 70 years.
  • Proper documentation, which encompasses identity proof, address verification, income documents, property-related documents, and more.


The SBI Regular Home Loan stands out as an optimal choice for those seeking home financing in India. With its array of features, competitive interest rates, and the trust of a banking giant like SBI, it’s no wonder that countless Indians have chosen this as their preferred route to home ownership.

If you’re in the market for a home loan, understanding every facet of the product is essential. It not only helps in making an informed decision but also ensures a smooth financial journey. The SBI Regular Home Loan, with its transparency and customer-first approach, surely seems to tick all the right boxes.

Find out about other home loan options from SBI.


What is the maximum tenure SBI offers home loan for

The maximum tenure for the home loan is 20-30 years (but the tenure of the loan can also change based on the scheme.)

Are SBI housing Finance interest rates fixed or floating?

Offers both fixed and floating interest rate options for home loans. With a fixed rate, the interest remains constant throughout the loan tenure, while with a floating rate, it fluctuates with the market condition.

How is Interest Rate Determined for SBI Home Loan

SBI determines the interest rate based on factors like the loan amount, loan tenure, CIBIL Score, and the type of interest rate (fixed or floating) chosen by the borrower.

How can I calculate the EMI for SBI Home Loan?

You can calculate the EMI for using any online EMI Calculator

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