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SBI Home Loan Rates – Lowest Home Loan Rates

SBI Hamara Ghar: Fixed Interest Rate Product for 2 years

  • Features of HamaraGhar
    • Fixed for a period of 2 years
    • Maximum Loan Amount : Rs. 30 lacs
    • Interest Rate : 8.50% p.a. (1 year MCLR + 50 bps), 8.55% p.a. (1 year MCLR + 55 bps)
    • Processing Fee : 0.35% (Min : Rs. 2000/- and Maximum : Rs. 10,000)
    • 90% of the project cost
  • Post fixed term of 2 years, the interest rate will be linked to the prevailing 1 year MCLR and the spread on the Home Loan at that time will remain the same as the current prevailing interest spread.

SBI Bridge Loan

  • The SBI Bridge loan is designed for existing home owners aspiring to upgrade their homes by disposing off their existing home and face a liquidity crunch to make initial payments towards the new house. This loan can be availed against the mortgage of existing unencumbered property.
  • Features of SBI Bridge Loan:
    • Maximum Tenor of Bridge Loan : 2 years
    • Interest Rate : 10.45% p.a. (1 year MCLR + 2.45%) : First Year, 11.45% p.a. (1 Year MCLR + 3.45%) : Second Year
    • Processing Fee : 0.35%

Home Loan to Professionals / Self-employed

  • Key Features:
    • Minimum Loan Amount : Rs. 20 lacs
    • Maximum Loan Amount : Rs. 50 crs
    • Processing Fee : 0.35%
    • Floating interest rate : From 8.6% p.a, depending on risk profile of the customer

Insta Top Up Home Loans

  • A Pre-Approved, top up Loan for existing Home Loan customers which the customer can avail of online, from application to disbursal, via SBI’s internet banking portal.This loans is available for risk-assessed existing home loan customers.
  • Their account will be credited within 24 hours of applying for the same.
  • Rate of interest : 9.00% p.a. (1 year MCLR + 100 bps)
  • Maximum Loan amount : Rs 5 lacs

sbi home loan rates

Savings for the Home Loan Customers under Revised Interest Rate:

Home Loan Amount Existing Interest Rate Proposed Interest Rate Existing EMI Revised EMI Saving in EMI/ month Saving Per Annum Saving in 30 years Savings if invested in RD @6.50%
Rs 30 lacs

Card Rate

9.25%

8.50%*

(Fixed)

24,681

23,068

1,613

19,356

5,80,680

17,84,266

Festival Offer

9.10%

8.50%*

(Fixed)

24,355

23,068

1,287

15,444

4,63,320

14,23,652

Rs. 50 lacs

Card Rate

9.25%

8.60%

41,134

38,801

2,333

27,996

8,39,880

25,80,714

Festival Offer

9.10%

8.60%

40,592

38,801

1,791

21,492

6,44,760

19,01,521

Rs. 1 crore

Card Rate

9.25%

8.70%

82,268

78,314

3,954

47,448

14,23,440

43,73,829

* Fixed interest option is available upto Rs. 30 lacs only. Floating interest rate option also available for loans upto Rs. 30 lacs starting from 8.60%.

Current SBI Home Loan customers can switch to the new ROI by simply paying a nominal switching fees.

Source Document from SBI Official website

Updated: April 6, 2017 — 6:54 pm

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