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State Bank of India (SBI) Home Loan

PSU Bank

SBI is the largest home loan lender in India by market share. If you have a CIBIL score of 800 or higher and are salaried, SBI will almost always quote you the lowest floating rate in the market. The trade-off is processing speed and digital experience, which trail the private banks.

7.25%

Starting rate

8.70%

Max rate

0.35% of loan (₹2,000 – ₹10,000)

Processing fee

30 yrs

Max tenure

Rates as of 2026-04-16. RBI repo rate 5.25%. Best available new-customer rate across all tracked lenders: 7.15%.

Already have a State Bank of India home loan?

If your current State Bank of India rate is above 7.25%, you are paying more than what State Bank of India is offering new customers today. The gap could be anywhere from 50 to 155 basis points depending on when you took the loan and which benchmark it is on.

Check my overpayment Rate reset letter for State Bank of India

Products offered

SBI Regular Home Loan
SBI Maxgain (Home Loan OD)
SBI Flexipay Home Loan
SBI Privilege Home Loan (for govt employees)
SBI Balance Transfer
SBI Plot Loan
SBI Home Top-Up

Best for: Salaried borrowers with 750+ CIBIL who want the lowest possible PSU rate and do not mind branch-heavy processes.

Strengths and weaknesses

+ Lowest entry rates among all tracked lenders for 800+ CIBIL salaried profiles.

+ SBI Maxgain (OD product) is the most established home loan overdraft in India.

+ Largest branch network means availability in tier-2 and tier-3 cities where private banks do not operate.

- Processing time is slower than private banks and HFCs. Expect 7 to 14 days for sanction.

- Digital experience is improving but still lags behind HDFC, ICICI and new-age players like Jio Credit.

Rate reset at State Bank of India

SBI generally processes rate reset requests within 14 working days when submitted in writing to the home loan branch. Conversion fee is 0.35% of outstanding, capped at ₹10,000. SBI was one of the first PSU banks to move existing MCLR customers to EBLR on request.

Get the rate reset letter template

Balance transfer friction

Low friction

Leaving State Bank of India for a balance transfer is straightforward. Foreclosure letters are issued within a reasonable timeline and no foreclosure fee applies on floating-rate loans (RBI 2012 circular).

Read the foreclosure charges guide

What State Bank of India borrowers are saying

"My father had to go to the branch and fill out forms to get it reset to 7.9%. The bank had auto-hiked the rate every time RBI raised repo but never auto-cut it when RBI lowered."

r/IndiaInvestments · October 2025 View source

Complaints are sourced from public consumer forums and social media. They represent individual experiences and may not reflect current policies.

State Bank of India (SBI) home loan at a glance

Lender type	PSU Bank
Headquarters	Mumbai
Regulator	RBI
Floating rate range	7.25% to 8.70% (EBLR-linked)
Processing fee	0.35% of loan (₹2,000 – ₹10,000)
Max tenure	30 years
Max loan amount	No upper limit
Prepayment charge	Nil on floating rate
Balance transfer friction	low
Official website	sbi.co.in

Data as of 2026-04-16. Rates are for salaried borrowers with CIBIL 750+. Verify with State Bank of India for profile-specific quotes.

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