1. What is SBI Home Loan Interest Rate?

The State Bank of India (SBI) home loan interest rate is the annual percentage rate charged on home loans. As of February 15, 2025, the rate starts at 8.40% p.a. This rate may vary based on loan amount, tenure, and applicant's profile.

2. Current Rate Information

The current SBI home loan interest rate is:

Note: This is the base rate and may include:

• Additional charges for women borrowers (typically 0.05% less)
• Higher rates for non-salaried applicants
• Variations based on credit score

3. Importance of Interest Rate

Details: The interest rate directly impacts your EMI amount and total repayment. A 0.25% difference can significantly affect your long-term payment obligations.

4. Using This Calculator

Tips: Enter the current annual interest rate percentage to see the official SBI home loan rate. Default value shows the current base rate.

5. Frequently Asked Questions (FAQ)

Q1: Is 8.40% fixed or floating?
A: This is the floating rate that may change based on RBI repo rate adjustments.

Q2: How often does SBI change home loan rates?
A: Rates are typically revised quarterly or when RBI changes its policy rates.

Q3: What's the difference between RLLR and EBLR?
A: RLLR (Repo Linked Lending Rate) is based on repo rate, while EBLR (External Benchmark Lending Rate) uses RBI's published benchmarks.

Q4: Can I negotiate the interest rate?
A: Yes, for large loan amounts or high-value customers, some negotiation may be possible.

Q5: Are there prepayment charges?
A: SBI typically doesn't charge for floating rate loan prepayments, but fixed-rate loans may have charges.