SBI Home Loan Interest Rates

Getting a home loan is a big step toward achieving your dream of owning a house. State Bank of India (SBI), the largest public sector bank in India, offers various home loan options with competitive interest rates and flexible repayment plans.

In this blog post, we’ll break down SBI’s home loan interest rates, explain the important features, and give you the information you need to make the right decision.

Understanding SBI Home Loan Interest Rates:

The interest rate on your home loan affects how much you’ll end up paying overall. SBI provides two types of interest rates: fixed and floating.

  1. Floating Rate Home Loan:
    • The interest rates are connected to the Repo Rate.
    • As of June 2023, salaried borrowers can get a floating rate starting at 6.70% per year.
    • Non-salaried borrowers have a floating rate option starting at 6.75% per year.
  2. Fixed Rate Home Loan:
      • With a fixed rate, your interest remains the same for a specific period (usually 2 to 10 years).
      • Currently, SBI offers a fixed interest rate starting at 6.85% per year for both salaried and non-salaried borrowers.
      • After the fixed rate period ends, the interest rate is adjusted based on market conditions.

Special Home Loan Schemes:

SBI has special home loan schemes designed to meet specific borrower needs. Let’s look at a few of them:

  1. SBI Maxgain:
    • This scheme combines a home loan with an overdraft facility.
    • Your interest is calculated on the outstanding loan amount minus the balance in your linked savings account.
    • It helps reduce the interest burden and allows you to repay the loan faster.
  2. SBI Flexipay Home Loan:
      • This scheme targets young professionals with growing incomes.
      • It offers a higher loan amount by considering your future income potential.
      • You can have a loan tenure of up to 30 years, which helps manage your monthly cash flow effectively.
  3. SBI NRI Home Loans:
    • These loans cater to Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs).
    • NRIs can use these loans to purchase property in India or for construction/renovation purposes.

Factors Influencing SBI Home Loan Interest Rates

Several factors affect the interest rates SBI offers, including:

  1. Loan Amount: Higher loan amounts may have different interest rates or processing fees.
  2. Loan Tenure: The repayment period can influence the interest rate, with longer tenures potentially resulting in slightly higher rates.
  3. Credit Score: A good credit score shows your creditworthiness and may lead to better interest rates.
  4. SBI Relationship: Existing SBI account holders or long-time customers may be eligible for preferential interest rates.


SBI’s home loan options provide a wide range of choices to help you achieve your dream of owning a home. With competitive interest rates, flexible repayment plans, and specialized schemes, SBI aims to make housing finance accessible and affordable for everyone.

Remember, while interest rates are important, it’s crucial to consider the complete loan terms, associated fees, and eligibility criteria before making a decision. We recommend reaching out to SBI or visiting their official website for the most up-to-date information on home loan interest rates and other details.

Owning your dream home is within reach, thanks to SBI’s attractive home loan options. Take the first step toward fulfilling your homeownership goals by exploring SBI’s offerings today!

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