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SBI Home Loan

SBI Home Loan is an ideal choice for anyone wishing to take up a Home Loan for the various house-related expenses. Since the State Bank of India offers one of the lowest home loan interest rate, the SBI home loan is what almost every home loan borrower seeks.

SBI Home Loans start at just 6.90% interest per annum and come with numerous benefits. However, it is important that you check with State Bank of India before you apply for a Home Loan to ensure that your application is not rejected for some reason.

SBI Home Loan Interest Rates

SBI offers packages, that are floating-rate based, on their home loans. SBI interest rates are pegged to floating interest card rate which at 6.80% p.a. which stands currently at its lowest. The interest rates depend on and vary based on various factors like employment type.

SBI Home Loan Schemes

Interest Rate for Self-Employed

Interest Rate for Salaried

Note: Rates are at the sole discretion of SBI

SBI Loan Schemes

SBI Regular Home Loan

SBI Flexipay Home Loan

SBI Privilege Home Loan

SBI Shaurya Home Loan

SBI Tribal Plus

SBI Home Loan to Non-Salaried Differential offerings

SBI Pre-Approved Home Loan (PAL)

Additional Home Loan Schemes:

Factors That Affect the EMI of Home Loan

Home Loan EMI can be calculated using an online Housing Loan Calculator which takes into account many factors like loan amount, interest rate and the tenure or duration for which you are planning to avail the loan.

Loan amount – This is the amount you want to borrow to fulfil your home needs. ‭‭Home loan amount mainly depends on value of the property for which the loan is availed.

Fincity offers Home Loan for amounts as low as Rs. 30 lakhs to as high as Rs. 5 Crores.

Loan Particulars

EMI for 15 Years (Rs.)

EMI for 20 Years (Rs.)

EMI for 30 Years (Rs.)

Loan Tenure – Loan tenure is the duration over which a Home Loan is repaid. In practice, a shorter tenure results in higher EMIs, but helps you save on the total interest payout of the loan. Longest loan tenure available across banks and NBFC’s in India for buying a home on a loan is around 30 years, subject to borrower’s current age and retirement age.

Particulars

EMI for 15 Years (Rs.)

EMI for 30 Years (Rs.)

EMI for 20 Years (Rs.)

Interest Rate – The Rate of Interest is the interest charged on borrowed loan amount and is one of the components of monthly EMI along with principal repayment.

Loan Particulars

EMI for Rs. 40 lakhs (Rs.)

EMI for Rs. 1 crore (Rs.)

EMI for Rs. 60 lakhs (Rs.)

SBI Home Loan Eligibility Criteria

Here are few criteria a borrower needs to meet to get an SBI Home Loan:

Home Loan Fees and Additional Charges

Depending on the loan type you are applying for, a few charges may be levied. They are mentioned below:

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SBI Home Loan