| SBI Privilege Home Loan Highlights | |
| Interest rates | 8.50% p.a. onwards |
| Loan amount | Based on customer profile |
| Loan tenure | Up to 30 years |
| Processing fee | NIL |
Note: Interest rates as on 18th November 2024
Table of Contents
SBI Privilege Home Loan Interest Rates
| SBI Home Loan Scheme | Interest Rate (p.a.) |
| SBI Home Loan (TL) | 8.50%-9.65% |
| SBI Maxgain Home Loan (OD) | 8.70%-9.85% |
| SBI Top-up Home Loan | 8.80%-11.30% |
| SBI Top-up Home Loan (OD) | 9.00%-9.95% |
| SBI Tribal Plus | 8.60%-9.55% |
| SBI YONO Inst Home Top-up | 9.35% |
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Compare Home Loan Interest Rates of Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Apply Now |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
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Also Check: Home Loan EMI Calculator
SBI Privilege Home Loan Fees and Charges
Processing fee and prepayment charges
| Processing fee | NIL |
| Prepayment charges | NIL |
Click here to know detailed fees and charges of SBI Home Loan
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SBI Privilege Home Loan Eligibility Criteria
| Borrower profile | Indian Resident |
| Minimum age | 18 years |
| Maximum age | 75 years (at the time of loan maturity) |
SBI Privilege Home Loan Documents Required
For all applicants:
- Employer Identity Card
- Completed loan application form duly filled in and affixed with 3 Passport size photographs
- Identity Proof (any one): PAN Card/ Passport/Driver’s License/Voter ID.
- Residence Proof (any one): Recent copy of telephone bill/electricity bill/water bill/piped gas or copy of Passport/Driver’s License/Adhaar Card.
Property papers:
- Permission for construction (wherever applicable)
- Registered agreement for sale (only for Maharashtra)/ Allotment letter/ Stamped agreement for sale.
- Occupancy certificate (in case of move-in property)
- Share certificate (only for Maharashtra), Maintenance bill, Electricity bill, property tax receipt.
- Approved plan copy (Xerox blueprint) and Registered Development agreement of the builder, Conveyance deed (for new property).
- Payment receipt or bank account statement showing all the payments made to Builder/seller.
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Account statement:
- Last 6 months bank account statements for all bank accounts held by the applicant/s.
- If any previous loans from other banks/lenders, then loan account statement for last one year.
Income proof for salaried applicant/ co-salaried applicant/guarantor:
- Salary slip or salaried certificate of last 3 months
- Copy of Form 16 for last 2 years or copy of IT returns for last 2 financial years, acknowledged by IT department.
Income proof for non-salaried/co-applicant/guarantor:
- Business address proof
- IT returns for last 3 years
- Balance sheet and profit & loss account for last 3 years
- Business License details (or equivalent)
- TDS Certificate (Form 16A, if applicable)
- Certificate of qualification (for C.A, Doctors and other professionals)
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FAQs on SBI Privilege Home Loan
1. How do I apply for SBI Privilege Home Loan?
Ans. Prospective applicants can apply for SBI Privilege Home Loans either by visiting SBI’s website or by going to the bank branch. However, you can compare the home loan offers provided by other banks/HFCs based on your income, credit score, etc.
2. Can non-government employees also avail SBI Privilege Home Loans?
Ans. No. SBI has designed its Privilege home loan scheme exclusively for government employees. The definition of ‘government employees’ under this scheme comprises of employees of central/state government, including public sector banks, public sector undertakings of the central government and other individuals having pensionable service.
3. Is it compulsory to have a co-applicant in SBI Privilege Home Loan?
Ans. Home loan lenders usually make co-applicant mandatory only when the property is jointly owned. In case of availing home loans for properties with joint ownership, the co-owner(s) has to be included as co-applicants. For properties not jointly-owned, primary loan applicants can increase their home loan eligibility or avail higher loan amount by adding earning members of his family as co-applicant(s).
4. What is the minimum/maximum home loan amount offered under SBI Privilege Home Loans?
Ans. SBI has not specified the minimum or maximum amount for its Privilege home loan scheme. The loan amount would primarily depend on the value of the home property, the LTV ratio set for the property and the applicant’s repayment capacity.