SBI Home Loan Interest Rates 2022
SBI home loan interest rates are in the range of 6.80% to 7.35%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 6.80%.
Latest SBI home loan interest rate starts from 6.80% , as applicable based on the RLLR which is directly linked to RBI repo rate. Any change in repo rate will change the RLLR and will translate into a similar change in the bank’s home finance rate. SBI housing finance interest rate depends upon the loan amount, salary and occupation of the borrower, nature of property and type of home loan scheme.
SBI Home Loan Rates 2022
|Up to Rs 30 Lacs
|EBLR+ 15 bps
(ER: Effective Rate)
|EBLR+ 50 bps
|Above Rs 30 Lacs to Rs 75 Lacs
|EBLR+ 40 bps
|Above Rs 75 Lacs
|EBLR + 85bps
- Loan amount: SBI home loan rate depends upon the loan amount you apply for.
- Occupation: SBI offers lower rate for salaried borrowers as compared to self employed borrowers.
- Salary: Income helps in identifying the amount of loan that you can be eligible for. Bank’s rate varies with your monthly income. Higher the income, lesser will be the rate as higher will be the loan amount.
- Gender: SBI also offers discounted or special rates for women borrowers to ensure that women own a house and become financially independent. If you are planning to take a loan, adding a women co-applicant can help you get the lowest rates from SBI.
- Type of loan: SBI runs several special schemes for its borrowers. So for example if you opt for an overdraft scheme or a plot loan, you may required to pay a higher rate of interest vis-à-vis its regular home loan scheme.
- Existing customers: SBI offers lower home loan rates to its existing bank account customers as compared to new bank customers, as it understands the past banking history of the customer and hence, is comfortable in sanctioning loans.