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SBI Home Loan Interest Rates 2021

SBI Housing Loan Interest Rate -Today

Last Updated 07th Jul 2021

Current SBI Home Loan interest rates Jul 2021 starts at 6.70% p.a. for a maximum tenure of 30 years. The processing fee on its housing loans is Upto 0.40%, Minimum ₹ 10,000 .

Loan AmountSBI Repo Rate Home Loan RateRate for Female BorrowerSBI Maxgain
Upto ₹ 30 Lakh6.70%6.70%7.00%
₹ 30 Lakh - ₹ 75 Lakh6.95%6.90%7.25%
₹ 75 Lakh - ₹ 1 Cr7.05%7.00%7.25%
Above ₹ 1 Cr7.05%7.00%7.35%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback Check Offers

Current SBI Home Loan Rate

Today SBI home loan interest rates are in the range of 6.70% to 7.05%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.70%.

Below-mentioned are SBI home loan rates for multiple housing schemes.

SBI Home Loan Scheme Interest Rates
SBI Repo Rate Home Loan6.70% - 7.05%
SBI Home Loan Balance Transfer6.70% - 7.05%
SBI Shaurya Home Loan7.35% - 7.85%
SBI Privilege Home Loan7.35% - 7.85%
SBI Tribal Plus7.45% - 7.95%
SBI Realty7.65% - 8.00%
SBI Top Up Loan7.90% - 10.05%
SBI NRI Home Loan8.15% - 8.65%
SBI Flexipay Home Loan8.15% - 8.65%
SBI Pal8.20% - 8.65%
SBI Reverse Mortgage Home Loan9.05%
SBI Bridge Loan9.50% - 10.50%

SBI Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in SBI for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate Rate for women Borrowers
Upto ₹ 30 Lakh 6.70% 6.70%
₹ 30 Lakh - ₹ 75 Lakh 6.95% 6.90%
₹ 75 Lakh - 1 Cr 7.05% 7.00%
Above ₹ 1 Cr 7.05% 7.05%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate Rate for women Borrowers
Upto ₹ 30 Lakh 6.70% 6.70%
₹ 30 Lakh - ₹ 75 Lakh 6.95% 6.90%
₹ 75 Lakh - 1 Cr 7.05% 7.00%
Above ₹ 1 Cr 7.05% 7.05%

SBI Home Loan Processing Fee and Other Charges

SBI home loan processing charges are upto 0.40% of the loan amount from its home loan customers to cover its expenses of conducting credit appraisal and technical evaluation of property. SBI charges a minimum processing of ₹ 10,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees Upto 0.40% of the loan amount; minimum processing fee of ₹ 10,000
Foreclosure Charges Nil for floating rate home loans

SBI Home Loan Balance Transfer Interest Rates

SBI home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to SBI at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, SBI offers the lowest home loan balance transfer rate of 6.70%.

Illustration on Home Loan Interest Rate SBI
Maximum Annual Percentage Rate (APR) 6.71% to 7.06%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 30 Years
  • SBI Home Loan Interest Rate: 6.70% to 7.05%
  • Processing Fee payable to: Upto ₹ 400
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 645 for 30 Years ₹ 1,00,000 loan at 6.70% (lowest rate, longest time period) to ₹ 1,982 for 5 Years ₹ 1,00,000 loan at 7.05% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 6.71% to 7.06%
  • Total cost payable over loan tenure: ₹ 1,18,360 for 5 Years loan to ₹ 2,32,701 for 30 Years loan


What is SBI Home Loan Interest Rate?

SBI Home Loan interest rate ranges between 6.70% to 7.05%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has SBI reduced home loan rates?

As per the current rates, SBI has cut its home loan rates by 0.25% from 6.95% to 6.70%, which is one of the best rates in the market. The new rates are effective from 08 Apr, 2021.

Why should I opt for balance transfer to SBI?

SBI offers lowest Home Loan EMI of ₹ 645 per lakh availed at the lowest interest rate 6.70% for a maximum tenure of 30 years. you are paying an EMI more than ₹ 645 per lakh, you should consider the option for a loan transfer to SBI from your existing bank.

Which is better for Home Loan HDFC or SBI?

Lowest SBI Home Loan rate is 6.70%, while that of HDFC is 6.75%, which makes SBI Home Loan a better choice as per current rates. However, apart from interest rates, one must take into account other factors like charges, service and turnaround time as well to decide the best choice of bank. If you are looking for a quick loan with convenient service, HDFC will score better. If you are looking for a loan from a government bank, then SBI is a better option.

  • SBI offers RBI Repo Rate linked Home Loan which starts at 6.70%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called SBI Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 2.7% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the SBI Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then SBI Repo Rate linked Home Loan rate will cut from 6.70% to 6.55%.

What is the current SBI Home Loan rate?

The current SBI Home Loan rate starts from 6.70% with a processing fee of Upto 0.40%, Minimum ₹ 10,000.SBI housing loan rate varies across the applicant’s eligibility and the scheme they opt for. SBI offers different home loan rates for different home loan products.

Can SBI housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with SBI to lower the home loan rates.

What are the interest rates of home improvement loans in SBI?

You can avail of SBI home loans for home improvement at regular home loan rates starting at 6.65%.

Can SBI revise the home loan interest rates for their existing customers?

SBI home loan rates change for the existing customers if they have availed home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does SBI offer a concessional home loan interest rate for women?

Currently, SBI offers the same home loan rate for men and women of 6.70%

What is the SBI home loan rate of ₹ 25 Lakh for 15 years?

SBI home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, SBI provides home loan interest rate starting at 6.65%.

At what interest rate does an SBI employee get a home loan?

SBI offers concessional home loan rates of about 1% than the current home loan rates to SBI employees.

Is SBI home loan a floating rate loan or fixed-rate loan?

SBI home loan is offered at both fixed and floating rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.

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SBI Home Loan News - Jul 2021
  • 2021-07-07 : SBI offers to revamp loans for personal segment borrowers
    State Bank of India (SBI) has announced offering restructuring of loans to its eligible personal segment borrowers who availed personal loans, home loans, loans against property, Xpress credit, education loans and auto loans before April 1, 2021.
  • 2021-06-18 : SBI kept its Marginal cost of lending rates unchanged
    State Bank of India kept its MCLR rate unchanged with effect from 15 June 2021. The overnight and one-month MCLR is 6.65%. The three months and six months MCLR is 6.65% and 6.95%, respectively. MCLR for one year, two years and three years stand at 7%, 7.20% and 7.30%, respectively.
  • 2021-05-21 : SBI net profit rises 81% YoY
    State Bank of India’s quarterly net profit rose 81% year-on-year to Rs 6,451 crore for the three months ended March. The bank’s total domestic advances rose 5.67% year-on-year to Rs 21.82 lakh crore. Retail advances which include home, LAP, personal, two-wheeler, car, gold, education and doctor loan stood at Rs 8.7 lakh crore. Further, total domestic deposits for SBI which include FD and RD rose 14.26% from a year ago to Rs 35.7 lakh crore. The current account and savings account deposits rose 16.73% year-on-year to Rs 16.47 lakh crore.
  • 2021-05-04 : SBI revised its home loan rates to 6.70%
    State Bank of India revised its home loan rates to 6.70%. The new home loan rates will be effective from 03 March 2021.
  • 2021-04-27 : SBI introduced video KYC on mobile banking app YONO
    With an aim to improve the customer experience and improve the loan and investment portfolio, SBI introduced KYC on its Mobile banking app YONO. The digital initiative, powered by AI and Facial Recognition Technology, is a contactless and paperless process.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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