State Bank of India understands that property ownership serves two vital functions: securing a comfortable home and enabling a promising investment. By financing up to 90% of your property’s cost at competitive rates between 8.00% p.a. and 10.15% p.a., SBI provides a reliable, convenient path to homeownership—equally appealing to residents and investors alike.
Are you looking for lower interest rate home loan balance transfer?
SBI Home Loan Interest Rates by Employment
SBI adjusts home loan interest rates based on whether you’re salaried, self-employed, or have a professional practice. Below is a quick look at how your employment type can influence your rate.
SBI Home Loan Interest Rates for Salaried Employees
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Salaried | 8.00% p.a. onwards |
SBI Home Loan Interest Rates for Self Employed
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| Home Loan For Self Employed | 8.00% p.a. onwards |
SBI All Schemes Home Loan Interest Rates
SBI offers multiple home loan schemes, each with its own interest rate structure and features. Here’s an overview of the current rates for various SBI schemes.
| Home Loan Type | Home Loan Interest Rates |
|---|---|
| SBI Regular Home Loan | 8.00% p.a. onwards |
| SBI Maxgain (Overdraft) | 8.00% p.a. onwards |
| SBI Tribal Plus Home Loan | 8.00% p.a. onwards |
| SBI Home Loan Top Up | 8.30% p.a. onwards |
| SBI Home Loan Top Up (OD) | 8.50% p.a. onwards |
| SBI Loan Against Property | 9.50% p.a. onwards |
| SBI Reverse Mortgage Loan | 11.05% p.a. onwards |
| SBI YONO Insta Home Loan Top Up | 8.85% p.a. onwards |
Read more: SBI Home Loan: How to Apply?
All Schemes Offered by SBI: A Detailed Overview
SBI has a range of home loan schemes catering to diverse needs, from ready-to-move properties to under-construction projects. Read on to find the best fit for your housing requirements.
SBI General Home Loan Interest Rates
- Enables the purchase of ready-built and under-construction properties, including pre-owned homes.
- Offers a variety of options such as purchase of a plot, plot plus construction, home construction, extension, or repair/renovation.
- Suitable for those looking to take over an existing home loan from another lender.
- Designed to cater to various housing needs under a single umbrella.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
SBI Flexipay Home Loan Interest Rates
- Provides higher loan eligibility exclusively for salaried borrowers (up to 20% more eligibility).
- Allows borrowers to pay only the interest amount during the moratorium (pre-EMI) period.
- Features step-up EMIs that gradually increase based on anticipated growth in the borrower’s income.
- Ideal for young earners looking for a higher loan amount with flexibility in repayments.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | 21 years – 45 years |
SBI NRI Home Loans Interest Rates
- Tailored for Non-Resident Indians (NRIs) investing in residential properties in India.
- Offers competitive interest rates and structured repayment terms.
- Facilitates investment through loan rather than personal funds, allowing NRIs to use their capital for other potential returns.
- Streamlined documentation and support catering to the unique requirements of NRIs.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | 21 years – 70 years NRIs and PIOs |
| Maximum Loan Amount | ₹15 Lakh |
SBI Privilege Home Loan Interest Rates
- Exclusively designed for government employees (Central or State Government, PSUs, PSBs).
- Eligibility considers pensionable service, income, repaying capacity, age, assets, liabilities, and proposed property cost.
- Offers interest concessions when the loan repayment is arranged via Check Off (salary deduction).
- Focused on making homeownership more accessible to government sector employees.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | N/A |
| Eligibility | 18 years – 75 years NRIs and PIOs |
| Maximum Loan Amount | ₹15 Lakh |
Read More: SBI Privilege Home Loan
SBI Shaurya Home Loan Interest Rates
- Specially dedicated to the Army, Navy, and Air Force personnel.
- Offers lower interest rates and extended repayment options tailored to the needs of defense employees.
- Provides longer loan tenures, enabling a more manageable repayment structure.
- Also extends interest concessions when the repayment is facilitated via Check Off.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | N/A |
| Eligibility | 18 years – 75 years NRIs and PIOs |
| Maximum Loan Amount | ₹15 Lakh |
Read More: SBI Shaurya Loan
SBI Pre Approved Home Loan Interest Rates
- Offers prior sanction of home loan limits before finalizing the property.
- Assessed based on the applicant’s income details, providing clarity on the maximum loan amount available.
- Empowers customers to negotiate confidently with builders or sellers.
- Requires a non-refundable processing fee, similar to the standard home loan fee, payable at the time of sanction.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
SBI Plot Loan Interest Rates
- Enables customers to purchase a plot with the goal of constructing a residential property.
- Requires house construction to be completed within three years from the date of loan sanction/disbursement.
- Allows an additional home loan for building the house on the purchased plot.
- Offers loan amounts of up to INR 15 crores and provides a repayment period of up to 10 years.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 10 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | 18 – 65 years |
SBI Home Loan Top Up Interest Rates
- Available for existing SBI home loan customers seeking additional funds for personal needs.
- Offers competitive interest rates while ensuring the funds are not used for speculative purposes.
- Can be used for a variety of purposes such as renovation, education, or other personal requirements.
- Provides a convenient way to leverage existing home loan relationships.
| Features | Details |
|---|---|
| Interest rate | 8.30% p.a.onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | 18 – 65 years Resident Indian and NRIs |
Read More: SBI Top Up Loan
SBI YONO Insta Home Top Up Interest Rates
- A fully digital top-up loan option accessible via the YONO platform for pre-selected customers.
- Requires no paperwork or branch visits; ensures swift and hassle-free processing.
- Available 24/7 with an overdraft facility for additional convenience.
- Intended for personal use, making it a flexible solution for urgent financial needs.
| Features | Details |
|---|---|
| Interest rate | 8.85% p.a. onwards |
| Loan tenure | 10 years |
| Processing fees | ₹2,000 + GST |
| Eligibility | Pre-Selected customers based on various credit checks such as satisfactory repayment, residual loan tenure etc. |
SBI Home Loan to Non-Salaried Interest Rates
- Specifically crafted for self-employed individuals and non-salaried professionals.
- Supports home construction, acquisition of new or pre-owned residential properties, and takeover of existing home loans.
- Covers repairs, renovations, and extensions, providing comprehensive home financing.
- Aims to offer optimum loan value and repayment flexibility for non-salaried segments.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | Resident type: Indian Resident Minimum age: 18 years |
| Maximum Loan Amount | ₹50,000 – ₹50 Crore |
SBI Tribal Plus Home Loan Interest Rates
- Designed for residents of hilly or tribal areas who may not have land for mortgage.
- Enables purchase or construction of a new house/flat without mortgaging the land.
- Permits loans for buying an existing property up to 10 years old, or for repairs and extensions of existing homes.
- Relies on third-party guarantees instead of traditional land mortgage, ensuring broader access to housing finance.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 15 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | Resident type: Indian Resident Age: 21 – 60 years |
| Minimum Loan Amount | Salaried: ₹20 Lakh Self Employed: ₹15 Lakh |
SBI CRE (Commercial Real Estate) Home Loan Interest Rates
- Applicable when an individual or family already owns two homes and seeks a loan for the third home onwards.
- Restricts the total number of home loans (including CRE home loans) to five.
- Caters to those looking to expand their portfolio with additional residential properties as an investment.
- Maintains clear guidelines to ensure responsible lending and manageable repayment structures.
| Features | Details |
|---|---|
| Interest rate | 8.00% p.a. onwards |
| Loan tenure | 30 years |
| Processing fees | 0.35% of the loan amount + GST Minimum: ₹2,000 Maximum: ₹10,000 |
| Eligibility | 18 – 70 years Resident Indian |
How Does Reserve Bank of India (RBI) Repo Rate Impact Home Loan Interest Rates?
The repo rate is the interest rate at which the RBI lends short-term funds to commercial banks. It acts as a benchmark for the economy, influencing liquidity and credit availability. For example, a lower repo rate reduces banks’ borrowing costs, encouraging them to lend more.
Direct Impact on Home Loan Rates
- Rate cuts reduce borrowing costs : When the RBI lowers the repo rate, banks can borrow funds at cheaper rates, potentially reducing home loan interest rates
- Example from 2025 : In February 2025, the RBI reduced the repo rate by 25 basis points to 6.25%, followed by another cut to 6%.These moves aimed to stimulate economic growth by making loans more affordable.
Transmission to Borrowers
- Partial or delayed pass-through : Banks may not immediately pass the full benefit of repo rate cuts to borrowers. For instance, after the February 2025 cut, lenders gradually adjusted home loan rates, with potential EMIs dropping by ₹500–₹1,000 per lakh
- Dependence on bank policies : Banks factor in operational costs, profit margins, and market competition when adjusting rates. For example, SBI and HDFC reduced rates to 8.25–8.5% post-February 2025 cuts, but smaller lenders might lag.
Key Outcomes for Home Loan Borrowers (2025)
- Lower EMIs : A 25-basis-point repo rate cut could reduce monthly EMIs for existing and new borrowers if banks adjust their rates
- Potential sub-8% rates : Analysts suggest home loan rates might dip below 8% in 2025 due to cumulative repo rate reductions, benefiting first-time buyers and refinancers
Inflation and Repo Rate Dynamics
- High inflation : The RBI typically raises the repo rate to curb inflation, increasing home loan costs.
- Low inflation : Falling inflation allows the RBI to cut rates, easing the burden on borrowers.
Suggested Read: When Does Your Home Become a Non Performing Asset?
How to Get Lowest and Best SBI Home Loan Interest Rates?
- Aim for a 750+ Credit Score to secure preferential rates.
- Select the Right SBI Scheme that matches personal requirements for cost efficiency.
- Leverage Special Concessions offered to government employees, women borrowers, and defense personnel.
- Use the Check-Off Facility for direct salary deductions, which may lower interest rates.
- Make a Higher Down Payment to reduce the principal and potentially get better terms.
- Watch Out for Festive Offers or promotional discounts from SBI.
- Keep Income Documents Updated for quicker approvals and more favorable rates.
- Maintain Steady Employment to boost financial credibility and rate eligibility.
- Build a Strong Relationship with SBI for possible preferential pricing.
- Always Negotiate to explore discounts on interest rates or processing fees.
Read more: SBI CIBIL Score
Types of Home Loan Interest Rates
| Interest Rate Type | Definition | Pros | Cons |
|---|---|---|---|
| Fixed | Rate remains constant throughout a predetermined period or entire tenure. | – Predictable EMIs for budgeting- Protection against rising interest rates | – Typically, higher rates compared to floating- No benefit if market rates go down |
| Floating (Variable) | Linked to market benchmarks (e.g., Repo Rate, MCLR) and changes over time | – Often cheaper when rates fall- Can partly or fully prepay with lower penalties | – EMIs fluctuate with market conditions- Costs may rise if rates increase |
| Hybrid | Combination of fixed and floating phases. | – Stability in the initial fixed period- Potential cost savings in the variable phase | – Transition from fixed to floating can carry uncertainties- May incur a shift-related fee |
How to Switch Your SBI Home Loan from Fixed to Floating Rate?
SBI allows you to switch from fixed to floating at a fee of 0.56% of your outstanding loan amount.
- Visit your SBI branch or contact your relationship manager.
- Complete the necessary forms or applications for the switch.
- Once approved, sign a supplemental agreement reflecting the new floating-rate terms.
- Pay the conversion charge (0.56% of the outstanding principal) and any other administrative costs.
- Verify updated EMIs, as floating rates can fluctuate with market conditions.
Suggested Read: All Banks Home Loan Interest Rates 2025
Factors Affecting Canara Bank Home-Loan Interest Rate
| Factor | How It Affects the Interest Rate |
|---|---|
| Credit score & repayment history | Higher credit scores & consistent repayments often lead to lower rates |
| Loan amount & tenure | Larger loan amounts or extended tenures can raise rates due to increased risk |
| Type of interest rate (fixed or floating) | Floating rates fluctuate with market changes; fixed rates remain constant but can be higher initially |
| Market & repo rate trends | Rates typically rise or fall in line with the central bank’s policy decisions |
| Employment & income stability | Steady job & robust income can fetch more favorable rates |
| Loan-to-value (LTV) ratio | A lower LTV (larger down payment) signals reduced risk, helping secure lower rates |
| Banking relationship | Good track record or existing relationship with the bank may result in preferential rates |
How are Home Loan Interest Rates Calculated?
Home loan interest rates typically start with a benchmark – for example, the repo-linked lending rate (RLLR) or MCLR. Your bank sets its own spread above this reference to cover operational and credit-related risks. That margin, in turn, depends heavily on your credit score, income stability, loan amount, and the overall risk perceived by the lender.
In addition, economic policies (like changes in the repo rate announced by the central bank) can cause benchmark rates to move up or down, directly influencing what you end up paying over time.
Suggested Read: RLLR vs. MCLR vs. PLR
How to Download SBI Home Loan Interest Certificate Online?
Time needed: 3 minutes
- Visit the SBI Online Banking website
- Login using your username, password, and captcha.
- Go to the “E-Services” section.
- Select “My Certificates.”
- Choose the financial year you need and select “Download.”
- Your certificate will then be saved in PDF format.
Will Home Loan Interest Rates Go Down in 2025?
Yes, home loan interest rates in India have already started declining in 2025, following the Reserve Bank of India’s (RBI) decision to cut the repo rate by 25 basis points (bps) on April 9, 2025 .
This reduction, combined with a similar cut in February 2025, brings the cumulative repo rate decrease to 50 bps this year, lowering the rate from 6.25% to 6% .
These cuts directly impact floating-rate home loans linked to the repo rate, which most banks use as their external benchmark.
EMI vs. Tenure Reduction: Which Saves More?
Banks typically shorten the loan tenure while keeping EMIs unchanged during rate cuts. Borrowers can opt for this or request an EMI reduction.
For example, a Rs 50 lakh loan at 8.25% (post-February cut) will now cost 8%, lowering monthly EMIs by Rs 777 (from Rs 42,603 to Rs 41,826).
- Lower EMIs : Immediate cash flow relief (e.g., saving Rs 777/month). Total interest saved over 20 years: ~Rs 1.85 lakh .
- Shorter Tenure : Retaining the original EMI shaves 10 months off the loan term, saving ~Rs 4.36 lakh in interest. Experts recommend this option for 234% higher savings compared to EMI cuts.
Suggested Read: What is Reverse Repo Rate?
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Frequently Asked Questions
As of January 2025, SBI home loan interest rates start from 8.50% per annum, varying based on the applicant’s credit score and loan scheme.
A higher credit score can result in lower interest rates. For instance, applicants with a CIBIL score of 800 and above may qualify for the lowest rates.
Yes, SBI offers an interest rate concession of 0.05% to women borrowers.
SBI offers home loans with tenures up to 30 years, depending on the loan scheme and applicant’s eligibility.
Yes, SBI charges a processing fee of 0.35% of the loan amount, subject to a minimum of ₹2,000 and a maximum of ₹10,000, plus applicable taxes.
No, SBI does not levy any prepayment or foreclosure charges on its home loans.
Yes, SBI offers various home loan schemes like SBI Flexipay, SBI Privilege, and SBI Shaurya, each with specific features and interest rates.
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