An explainer about the SBI home loan program. Application, required documents, step-by-step instructions

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SBI Home Loan Rates: India’s largest lender has cut the rate to 6.7 percent

State Bank of India (SBI), the country’s largest lender, has cut home loan interest rates to 6.7 percent in a special holiday offer to help customers find affordable credit. SBI home loans consist of low interest costs, zero processing fees and are a unique home loan linked to creditworthiness. There are no early repayment penalties and the home loans have no hidden or administrative costs, according to a statement from the public lender on Wednesday September 22nd.

The State Bank of India’s market share in home loans is 34.77 percent and tenure is between 3 and 30 years. SBI’s simple home loan calculator helps calculate EMI, monthly interest, and monthly reduction balance based on the principal, loan term, and interest rate. It allows customers to enter the home loan amount they want, the number of years, and the interest rate (6.70 percent) to get their EMI value.

How do I apply for an SBI home loan online?

To apply for the home loan online, customers can access the link –
– https://onlineapply.sbi.co.in/personal-banking/home-loan?se=SBI-Microsite&cp=Homeloan&Ag=SBI-Microsite

-Enter the required details in the fields provided
-Check eligibility and get the loan offer.

How do I apply for an SBI home loan on SBI YONO?

  • Log into the YONO account
  • On the home page, click the menu (with three lines) in the top leftmost corner
  • Now click on Loans
  • Then click Home Loans
  • Fill out the authorization check stating your date of birth
  • Enter the source of income
  • Enter the monthly net income
  • Enter details about other loans
  • Check the eligible loan amount and proceed
  • Fill in the other required information, then click Submit
  • A new reference number will be assigned and an SBI manager will contact you

On Wednesday September 22nd, State Bank of India’s shares were last traded 0.06 percent lower at Rs 438.70 apiece on the BSE.


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