State Bank of India (SBI) home loan rates from 8.50% to 9.65% p.a. (June 2026). EMI calculator, eligibility, processing fee, tax benefits, and bank-specific quirks.
SBI rates range: 8.50%–9.65% (mid: 9.07%)
| Lender type | Public sector |
|---|---|
| Interest rate range | 8.50% – 9.65% p.a. |
| Processing fee | 0.35% of loan amount (capped at ₹10,000 + GST). Often waived during festival campaigns. |
| Max LTV | 80% for loans up to ₹30 lakh; 75% for ₹30 lakh-₹75 lakh; 75% for above ₹75 lakh. |
| Max loan amount | Up to ₹7.5 crore for residential property; no fixed upper cap for top customers. |
| Max tenure | 30 years |
| Women borrower concession | 0.05% rate reduction for women borrowers (sole or joint applicants). |
| Foreclosure / prepayment | Nil on floating-rate loans (RBI mandate since 2012). 2% on fixed-rate home loans. |
| Salaried eligibility | Min ₹40,000/month net income (varies by city). Minimum 2 years of work experience. |
| Self-employed eligibility | Last 3 years' ITR + audited financials. Higher rate (typically +0.25%) than salaried. |
SBI competes most directly with HDFC Bank, ICICI Bank, Bank of Baroda. Rates and processing fees move together across these — always collect two or three sanction letters before signing.
See full 10-lender rate comparison →See your SBI home loan alongside your investments, property, and net worth in one app. Felix monitors interest rates and flags when refinancing makes sense.
Download Richify — It's FreeState Bank of India (SBI) home loan rates as of June 2026 range from 8.50% to 9.65% p.a. The lower end applies to salaried borrowers with CIBIL ≥ 750-800 and women co-applicants (typically a 0.05% concession). Self-employed borrowers and those with lower credit scores fall toward the higher end. Rates are floating, linked to RBI Repo Rate via the External Benchmark Lending Rate (EBLR) — they change at every RBI Monetary Policy Committee decision (every two months). Always verify the current rate with SBI before applying.
At the lower end of SBI's rate range (8.50% p.a., assuming CIBIL ≥ 800 and women co-applicant): EMI on ₹50 lakh for 20 years = ₹43,391/month. For 30 years at the same rate: ₹38,446/month. At the higher end (9.65%, self-employed or lower credit): ₹47,097/month for 20 years. Use the calculator above to plug in your own loan amount, rate, and tenure.
State Bank of India (SBI) eligibility (June 2026): Salaried — Min ₹40,000/month net income (varies by city). Minimum 2 years of work experience. Self-employed — Last 3 years' ITR + audited financials. Higher rate (typically +0.25%) than salaried. Max loan-to-value (LTV) ratio: 80% for loans up to ₹30 lakh; 75% for ₹30 lakh-₹75 lakh; 75% for above ₹75 lakh. Max loan amount: Up to ₹7.5 crore for residential property; no fixed upper cap for top customers.. Max tenure: 30 years OR until the borrower reaches 70-75 years of age (whichever is earlier). Co-applicant required if loan is in joint names. PAN, Aadhaar, salary slips (last 3-6 months), Form 16, last 3 years' ITR, bank statements (6 months) for income proof. Property documents: sale deed, NOC, encumbrance certificate.
State Bank of India (SBI) processing fee (June 2026): 0.35% of loan amount (capped at ₹10,000 + GST). Often waived during festival campaigns.. The processing fee is a one-time charge deducted at sanction and is typically NON-refundable even if you don't end up taking the loan. Some lenders waive or reduce it during festival campaigns (Diwali, Republic Day, Independence Day) — worth timing your application. Foreclosure / prepayment charges: Nil on floating-rate loans (RBI mandate since 2012). 2% on fixed-rate home loans..
Yes. 0.05% rate reduction for women borrowers (sole or joint applicants). This is a standard industry practice driven by RBI's push for women-led property ownership; women applicants also often benefit from lower stamp duty rates (state-dependent) and dedicated mortgage products. To claim: the property must be in the woman's name (sole owner) OR she must be a co-applicant on the home loan with a meaningful ownership share. Some lenders require she also be a co-owner of the property, not just a co-borrower — verify with SBI before signing the sanction letter.
Yes, under the OLD tax regime: (1) Section 24(b) — interest deduction up to ₹2 lakh per FY on self-occupied property. (2) Section 80C — principal repayment deduction up to ₹1.5 lakh per FY (combined with EPF, PPF, ELSS, LIC, etc.). (3) Section 80EE / 80EEA — additional ₹50,000 / ₹1.5 lakh interest deduction for first-time buyers (subject to property value and timing conditions). Under the NEW tax regime, only Section 24(b) interest deduction on let-out property is available; self-occupied property benefits are lost. For a salaried borrower in the 30% slab with ₹2 lakh interest deduction, the effective home loan rate drops by ~₹60,000/year. Use Richify's Income Tax Calculator at /in/tools/income-tax-calculator to see your exact saving.
Both are credible options. SBI typically wins on: SBI uses EBLR (External Benchmark Lending Rate) linked to RBI Repo Rate — rate transmission is among the fastest in India. HDFC Bank typically wins on its own strengths (different rate cycle timing, branch/digital reach, processing speed, or specialised products). Decision framework: (1) Get sanctioned amount + rate from BOTH (sanction letters are free and valid for 60-90 days). (2) Compare effective rate including processing fee amortised over expected tenure. (3) Negotiate — banks routinely match competitor offers for HNI customers. (4) For self-employed: HFCs like Bajaj Housing Finance may approve when banks decline, at slightly higher rate.
Yes. Foreclosure charges: Nil on floating-rate loans (RBI mandate since 2012). 2% on fixed-rate home loans.. RBI has prohibited foreclosure charges on FLOATING-rate home loans for individual borrowers since 2012 — so most SBI home loans (which are floating) can be prepaid in full or part without penalty. Fixed-rate loans typically attract a 2-4% foreclosure charge. Strategy: even a 1% annual prepayment can reduce total interest by 30-40% over the loan tenure. Use Richify's Home Loan EMI Prepayment Calculator at /in/tools/home-loan-emi-prepay to model the savings.