Fequently Asked Questions

Loan amounts depend on income, repayment capacity, and property value. Most banks offer up to *75%-90%* of the property's value, subject to eligibility.

Home loan tenures generally range from *5 to 30 years*, depending on the borrower’s age, income, and lender policies.

Interest rates depend on credit score, loan amount, employment type, and RBI repo rate changes. PSU banks often offer lower rates for salaried individuals.

Yes, home loans can be prepaid. Floating-rate loans* from banks have no prepayment charges, while fixed-rate loans may have some penalties.

Loan approval typically takes 7-15 days, depending on document verification and property valuation. PSU banks may take slightly longer compared to private banks.

You can apply for SBI Home Loans for various purposes, including:

- Purchase of a ready-built house or flat (new or old).
- Purchase of an under-construction house or flat.
- Construction of a house on a plot you own.
- Repair or renovation of a house or flat.
- Extension of an existing house.
- Purchasing a plot for constructing a house.
- Transferring your existing home loan from another provider to SBI.
- Availing top-up loans for existing SBI home loan borrowers
(e.g., for house extension, furnishings, etc.).

Yes, both Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) can apply for SBI Home Loans for any of the purposes mentioned above, subject to meeting other eligibility requirements.

A Home Loan Balance Transfer allows you to transfer your existing home loan from another bank or financial institution to SBI to benefit from better interest rates or services.

Benefits include potentially lower interest rates, reduced EMIs, improved customer service, and access to additional loan features or top-up loans.

Processing fees for SBI Education Loans are as follows:

- Loans up to ₹20 lakhs: No processing fee.
- Loans above ₹20 lakhs: A processing fee of ₹10,000 plus GST is applicable.
- Scholar Loans: No processing fee, irrespective of the loan amount.

The repayment of the education loan starts 12 months after the completion of the course or 6 months after securing employment, whichever is earlier. The loan is to be repaid in Equated Monthly Instalments (EMIs) over a maximum term of 15 years (180 EMIs).

The maximum loan amount depends on the location of the property:

- Within Municipal Corporation areas of NCR, Mumbai, Pune, Chennai, Ahmedabad, Bangalore, and Hyderabad: Up to ₹5 crores.
- At other BPR centers: Up to ₹2 crores.
- At Non-BPR urban centers: Up to ₹1 crore.

The loan is to be repaid in Equated Monthly Instalments (EMIs) over a maximum term of 15 years, subject to the availability of a sufficient, regular, and continuous source of income for servicing the loan repayment. Additionally, the expected life of the property, as certified by an empanelled engineer/architect, should be at least 5 years more than the loan tenure.

The loan is to be repaid in Equated Monthly Instalments (EMIs) over a maximum term of 15 years, subject to the availability of a sufficient, regular, and continuous source of income for servicing the loan repayment. Additionally, the expected life of the property, as certified by an empanelled engineer/architect, should be at least 5 years more than the loan tenure.

A balance transfer allows you to shift your existing home loan from one lender to another, usually for lower interest rates or better terms.

Lower interest rates, reduced EMI burden, better service, and access to *top-up loans* for extra funds.

You must have a good repayment track record, stable income, and a minimum 6-12 months repayment history with the current lender.

Some banks charge processing fees (0.25%-1%) and legal/valuation charges, but PSU banks often have lower fees.

It usually takes 10-20 days, depending on documentation and lender processing speed.

Yes, many banks offer a top-up loan along with balance transfer if you have repayment capacity and equity in the property.

Indian students pursuing higher education in India or abroad. Co-applicants (parents/guardians) are mandatory, and admission to a recognized institute is required.

Banks typically offer:
- Up to ₹10 lakh for studies in India
- Up to ₹20-30 lakh for studies abroad
Higher amounts are possible with collateral security.

Tuition fees, hostel/mess charges, exam fees, books, equipment, and sometimes travel and laptop costs.

Repayment starts 6 months to 1 year after course completion and can extend up to 15 years.

Yes, parents or guardians must co-sign, and for higher loan amounts, banks may ask for collateral .

Yes, the *Central Government Interest Subsidy Scheme (CSIS)provides interest-free loans during the moratorium period for eligible students from economically weaker sections.

Yes, the *Central Government Interest Subsidy Scheme (CSIS)provides interest-free loans during the moratorium period for eligible students from economically weaker sections.

A secured loan where you mortgage your property (residential/commercial) to get funds for business, education, or personal needs.

Self-occupied residential properties, rented commercial properties, and land with clear ownership/title can be mortgaged.

Generally, banks provide 50%-70% of the property's market value, depending on location and loan eligibility.

LAP tenure ranges from *5 to 15 years*, depending on repayment capacity and property valuation.

Interest rates are usually higher than home loans but lower than personal loans, typically 9%-15% per annum

Yes, LAP can be used for business growth, debt consolidation, medical expenses, or any other personal financial needs.