State Bank of India offers many types of home loan schemes, one of which is SBI Realty Home Loan. In SBI Realty Home Loan, loan is provided to construct a house or buy a house by purchasing a plot. If you also want to buy a plot and build a house, then this loan scheme of SBI is perfect for you.

SBI Realty Home Loan ::

Bank NameState Bank Of India
Loan NameSBI Realty Home Loan
Loan TypeHome Loan
Age Limit18 Years – 60 Years
Loan Amount10 Lakh – 15 Crore
Interest RateStarting From 8.40%
Loan TenureMaximum 15 Years
Official WebsiteClick Here :- https://homeloans.sbi

What Is SBI Realty Home Loan :

State Bank of India provides customers the opportunity to purchase a plot for house construction under Realty Home Loan. Construction of the house under SBI Realty Home Loan should be completed within 3 years from the date of loan sanction/disbursement. After SBI Realty Home Loan, the customer can take another home loan for house construction. The maximum loan amount given to a customer in SBI Realty Home Loan can be up to Rs 15 crore.

Benefits Of SBI Realty Home Loan :

1. SBI Realty Home Loan provides a loan for purchasing a plot and constructing a house. If you do not have a plot, you can buy a plot and build a house through this loan.

2. SBI Realty Home Loan offers attractive interest rates. SBI Realty Home Loan interest rates start from 8.40%.

3. The process of SBI Realty Home Loan is simple. You can take this home loan from the State Bank of India branch.

4. You can repay SBI Realty Home Loan before time so that you will have to pay less interest.

5. SBI Realty Home Loan has low processing fees and no hidden charges. In this loan scheme, interest will be charged on the daily decreasing principal amount.

SBI Realty Home Loan Eligibility :

The following eligibility criteria have been prescribed for availing SBI Realty Home Loan.

1. The applicant must be a citizen of India.

2. The minimum age limit for SBI Realty Home Loan has been fixed at 18 years and maximum 65 years.

3. The loan recipient must have a source of income.

4. The applicant should have all the necessary documents for SBI Realty Home Loan.

5. Both self-employed and salaried are eligible under SBI Realty Home Loan.

6. EMI for SBI Realty Home Loan should not exceed 30% of your net annual income. If your annual income is Rs 5 lakh then your loan EMI should not exceed Rs 1.50 lakh per year.

Document Required For SBI Realty Home Loan :

In SBI Realty Home Loan, different documents have been prescribed for salaried and self-employed which are as follows :

  • Form filled by the applicant for loan
  • 3 passport size photographs
  • Identity Proof (Aadhar Card/PAN Card/Voter ID Card/Driving License)
  • Residence Proof (Electricity Bill/Telephone Bill/Water Bill/Aadhar Card/Property Tax Receipt)
  • Bank statement of last 6 months
  • Signature identification from your current bank
  • property information

Document Required For Salaried

  • Salary certificate
  • TDS/Form 16/IT Returns of last 2 years

Document Required For Self Employed

  • Business address certificate
  • IT returns of last 3 years

SBI Realty Home Loan Interest Rate :

SBI Realty Home Loan offers attractive interest rates. SBI Realty Home Loan interest rates start from 8.40%. In SBI Realty Home Loan, interest rate concession is provided to senior citizens and women. If your CIBIL score is good then you will be able to get the loan at a lower interest rate and if your CIBIL score is bad then you will have to pay a higher interest rate.

How To Apply For SBI Realty Home Loan :

Application for SBI Realty Home Loan can be made through the official website of SBI. Application can also be made through offline mode from SBI branch. To apply for SBI Realty Home Loan, you will have to submit the form and required documents to the branch, after which the valuation of the property will be done after scrutiny of the documents. Loan will be approved based on the value of the property. If there is any deficiency in your documents then the loan will be rejected.

FAQ About SBI Realty Home Loan :

Q1. What percentage of interest is charged on SBI Realty Home Loan?

Ans : SBI Realty Home Loan interest rate starts from 8.40%. Senior citizens and women will get interest rebate on SBI Realty Home Loan. If your CIBIL score is good then you will have to pay less interest.

Q2. Can the self-employed apply for SBI Realty Home Loan?

Ans: Yes, both salaried and self-employed can apply for SBI Realty Home Loan. Self-employed can apply for SBI Realty Home Loan and should have all the required documents.

Q3. What are the eligibility criteria for SBI Realty Home Loan?

Ans: Both self-employed and salaried can apply for SBI Realty Home Loan. The minimum age limit to apply for this loan scheme has been fixed at 18 years and maximum 60 years. To avail loan under SBI Realty Home Loan, the applicant must have all the required documents and must have a source of income.

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