SBI Realty Home Loan
If you intend to buy a residential plot for the construction of your dream home, then the SBI Realty Home Loan is just for you. This loan gives up to 90% of the cost of the property with attractive interest rates and flexible tenures of up to 10 years stretching over a construction period of 3 years. In this article, we will explain all key features, eligibility requirements, required documents, and the hassle-free online application process via NoBroker.
SBI Realty Home Loan
Owning a home is more than just buying a property—creating a space that reflects your aspirations, lifestyle, and personality. But what if you want to start from scratch, beginning with just a plot of land? That’s where SBI Realty Home Loan steps in. Whether you’ve set your heart on a quiet suburban plot or a space in a planned township, SBI’s Realty Loan empowers you to purchase a residential plot to build a house on it within 3 years. Let’s explore how this unique plot loan works, its features, eligibility, documentation, and how to apply through NoBroker for a seamless experience.
SBI Realty Home Loan – At a Glance [Featured Snippet Table]
| Feature | Details |
| Loan Name | SBI Realty Loan |
| Purpose | Purchase of residential plot for future home construction |
| Maximum Loan Amount | Up to ₹15 Crores |
| Interest Rate | Starting from 8.50% p.a. (floating, subject to SBI card rates) |
| Loan Tenure | Up to 10 years |
| Construction Deadline | Within 3 years of disbursal |
| Processing Fee | 0.35% of loan amount (min ₹2,000 – max ₹10,000 + GST) |
| Resident Type | Indian residents only |
| Age Limit | 18 to 65 years |
| Special Benefit | Interest concession for women borrowers |
What is the SBI Realty Home Loan?
The SBI Realty Home Loan is specifically designed for individuals who want to purchase a residential plot now and build a house on it later. This scheme allows borrowers to buy a piece of land for personal use, with the requirement to complete construction within 3 years of loan sanction or disbursement.
Some customers can now apply separately for the SBI Home Loan for construction when the construction starts. It puts borrowers on a two-way path quite clearly:
- Buy the plot now with SBI Realty.
- Finance construction later with a standard SBI Home Loan.
This dual structure becomes very useful for planners with long-term plans and also for those who want complete control over the house design.
Key Features and Benefits
Let us see what makes SBI Realty Home Loan worth considering in the future for customers.
High Loan Amount- Up to ₹15 Crores
SBI presents a very good loan limit with reference to income and repayment capability. It ensures making plot purchases even for very good localities possible.
Construction Window – For 3 Years
Launch and finish construction of the house within 3 years after the disbursement of your loan. Easy breathing space for planning and approvals.
Flexible Repayment: – Up to 10 Years
The maximum loan tenure is up to 10 years, granting you an easy EMI structure with some feasibility during the plot phase.
Interest Concessions to Women
Woman borrowers pay concessional interest rates, thus rendering the loan cheaper.
Daily Reducing Balance Interest Calculation
Calculating interest on the daily reducing balance means that you pay interest on the outstanding principal only.
No Prepayment Charges
You will not be charged any penalty for prepaying the loan, and it offers you the flexibility of finance.
Who Can Apply?-Eligibility Criteria
Standard and inclusive eligibility criteria apply for the plot purchase loan of SBI:
| Criteria | Details |
| Resident Type | Resident Indians only |
| Minimum Age | 18 years |
| Maximum Age | 65 years at loan maturity |
| Loan Tenure | Up to 10 years |
| Employment Type | Salaried, Self-employed, Professionals |
Even if you are just starting your career or a mid-level entrepreneur, this loan is accessible—especially with NoBroker’s loan advisory team guiding you through each step.
SBI Realty Loan Interest Rate and Processing Fee
The interest rates for the SBI Realty loan are floating and linked to the bank’s current card rates, typically starting from around 8.50% p.a. However, they may vary depending on your credit profile, loan amount, and whether you’re a woman applicant.
Processing Fees
| Loan Type | Processing Fee Structure |
| Realty Home Loan | 0.35% of the loan amount + GST |
| Minimum Fee | ₹2,000 + GST |
| Maximum Fee | ₹10,000 + GST |
| Prepayment Charges | Zero |
These fees are reasonable, especially considering the high loan amount bracket.
Documents Required for SBI Realty Loan
To keep things smooth, make sure you have the following documents ready:
Common Documents for All Applicants
- Completed loan application form
- 3 passport-sized photographs
- Employer ID card (for salaried applicants)
- Proof of Identity (PAN card, Passport, Voter ID, Driving Licence)
- Proof of Residence (Utility bill, Passport, Voter ID)
- 6 months’ bank statement or passbook
- Signature verification from current banker
- Statement of Personal Assets & Liabilities
Additional for Salaried Applicants
- Original Salary Certificate
- Form 16 or IT Returns for the last 2 years
Additional for Self-Employed/Professionals
- Acknowledged ITRs for the last 3 years
- Challans showing Advance Income Tax payments
- Business address proof
For Guarantors (If Required)
- Same ID, residence, and financial documents as above
- 2 passport-sized photos
- Banker’s signature verification
Construction Timeline Requirement – What It Means
As part of this scheme, the borrower must begin and complete house construction within 3 years of loan disbursal. SBI allows you to:
- Buy the plot now
- Plan the construction timeline
- Secure a second SBI home loan for the build phase
Failure to construct within 3 years may attract penalties or changes to your loan terms. So it’s important to apply when you’re genuinely ready to plan.
Pro Tip: Start your home design and approval process within 12–18 months after the plot loan to stay on schedule.
How to Apply for SBI Realty Plot Loan via NoBroker
NoBroker makes your home loan journey smooth, fast, and paperless. Here’s how to apply:
- Visit the NoBroker Home Loan page
- Select the SBI Realty/Plot Loan option
- Fill in basic details (loan amount, location, income)
- Upload soft copies of required documents
- Get matched with the best SBI loan plan
- Let your NoBroker Loan Expert assist with approval and disbursal
Bonus: Get real-time status updates via WhatsApp or email.
Who Should Consider SBI Realty Loan?
You should consider this product if:
- You want to build your home to your specifications
- You’re participating in a government-approved layout or gated community project
- You have long-term plans and prefer to buy land now, build later
- You’re financially stable enough to manage EMIs during the plot phase and take on another loan for construction later
Conclusion
The SBI Realty Home Loan is most suited for anyone with brick-by-brick dreams of building a house on a piece of land of his own. With attractive interest rates, high loan limits, and a 3-year time frame for construction, it offers much-needed flexibility for the plot buyer.
So whether you target a corner plot in a developing neighborhood or a township that is future-ready, SBI Realty Loan through NoBroker is your best choice for a worthwhile investment in property.
Note: Information that we presently accept for training goes to October 2023.
