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Various SBI Home Loan Schemes

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sbi home loan schemeState Bank of India (SBI) is the leader when it comes to banking sector in our country. SBI home loan schemes are quite popular among the people. Let’s try to explore some of the SBI home loan schemes and their special features in this article.

Note: Compare the best rates and other loan offers before finalizing on a loan.

SBI Maxgain Scheme

In short - Home loan as an overdraft

What’s special? An innovative scheme to help customers earn optimal yield on savings and to reduce burden on home loans.

DescriptionSBI sanctions the home loan as an overdraft facility for operating the home loan account similar to savings bank account. You can park your surplus funds in this account. The interest on loan will be calculated only on the amount exceeding the surplus amount and not on the actual sanctioned loan amount. In this way, you can reduce your loan burden through your idle funds.

Interest rate – 10.55%

SBI Yuva Home Loan Scheme

In short – Home loan for youth

What’s special? Sanction of higher loan amount than the normal home loan scheme.

Description – Under SBI Yuva home loan scheme, 20% higher loan would be sanctioned for employees of private sector companies, PSU’s and govt. organizations. Age limit is 21-45 years and minimum net monthly income should be Rs. 30,000. As part of this scheme, for the first 36 months only interest part is payable and EMI’s would start only after 36 months.

Interest rate – 10.15% for less than Rs. 75 lakhs and 10.30% for above Rs. 75 lakhs.

(Also see: Best Interest rates on home loans)                    

SBI Realty

In short- Home loan for purchase of plot or construction of dwelling unit

What’s special? Opportunity to purchase a plot to construct a house.

Description – You can now seek a loan to purchase a plot for the purpose of constructing a house. However, construction should start within 2 years from the date of availing the loan. Another special feature of this loan is that you can also avail another loan for construction of plot simultaneously along with the current loan. Loan amount would be up to Rs. 10 crores with repayment tenure of 15 years.

Interest rate – 10.15% for less than Rs. 75 lakhs and 10.30% for above Rs. 75 lakhs.

(Also see: Can we invest in property in today’s market?)


In short –Pre-approved home loan

What’s special? Loan sanctioned before finalization of property to negotiate with the builder

Description – SBI pre-approves home loan even before you start negotiating with the lender on the property price. The eligibility of the loan will depend on your income details. A non-refundable processing fee will be collected at the time of sanction. It is valid for 4 months from date of sanction. You need to submit the property papers to SBI within this period. Minimum loan amount would be Rs. 10 lakhs.

Interest rate – 10.15% for less than Rs. 75 lakhs and 10.30% for above Rs. 75 lakhs.

SBI Home Equity

In short – Top up home loan

What’s special? Availing an additional loan amount when existing loan amount is insufficient.

Description – A top up loan is sanctioned to you if you feel the existing loan amount would not meet your needs. You can avail up to 2 home equity loans simultaneously. Minimum loan amount is Rs. 0.5 lakhs and maximum is Rs. 2 crores. Eligible amount would be 75% of market value of the property less the outstanding loan amount.

Interest rate – 11.25%

SBI Reverse Mortgage

In short – Loan for welfare of senior citizens

What’s special? Using house as a mortgage to receive regular income

Description – SBI provides an option for senior citizens to get regular income by putting their house as mortgage with the bank. The income received would depend on valuation of the house. You may or may not pre-pay the loan amount.

Interest rate – 12.75% fixed, subject to reset every 5 years.

Gram Nivas

In short – Home loans in rural areas

What’s special? Scheme designed for rural and semi-urban centres.

Description – Gram Nivas is a scheme designed for rural areas with population up to 50,000. It can be availed for construction, purchase, repair or renovation of house or plot. There is no minimum loan amount and maximum loan amount is Rs. 5 lakhs with repayment tenure of 15 years. There are no processing charges in this scheme.

Interest rateInterest rate – 10.15% for less than Rs. 75 lakhs and 10.30% for above Rs. 75 lakhs.


SBI has several home loan schemes. Above listed schemes are only some of them. You can choose the scheme which suits your borrowing needs.

  • Suda

    Hi Suresh, Regd the Yuva Scheme I have a question regd the only Interest portion in EMI for first 36 months. Is it applicable even if the Property/flat is ready to occupy before 36 months? Usually the Pre-emi scheme is applicable only for under construction properties and the actual EMI would start once we register and occupy the property.
    Pl. confirm if the same applies in this scheme? thx suda

    • Av Suresh

      Yes, the same applies to it.

  • Shekar Murthy

    Hi Suresh,

    I have a running Home loan from SBI, now want to top up it with SBI Home Equity loan. Please let me know do I get tax rebates for the top up loan as well.


    • Av Suresh

      Yes, you can avail the tax benefits on interest part of top up loans as well.

      • Shekar Murthy

        Thanks a lot Suresh.

        One last clarification. We don’t get for the principal part?

        • Av Suresh

          No, it’s only for the interest part.

          • Shekar Murthy

            Thanks Suresh.

  • Vishal

    Can we get flavor of MAX GAIN Scheme under YUVA HOME LOAN SCHEME ? (We get max loan amount more than eligibility criteria and whenever we have excess funds for
    temporary period, may park such surplus money in the Loan Account)

    It would be
    great if you will be able to provide answer of above query.

    Thanks &

  • prashanth

    In YUVA HOME Loan scheme can we pay both principle and interest with in 36 month?

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