SBI Tribal Plus Home Loan: Special Home Financing for Hilly and Tribal Areas

Owning a home in remote or tribal regions comes with its own set of challenges—especially when traditional home loans require a mortgage of land or other property. Recognizing these unique hurdles, the State Bank of India has introduced the SBI Tribal Plus Home Loan, designed exclusively for individuals living in hilly or tribal regions.

Whether you want to construct a new home, renovate your existing one, or buy a house less than 10 years old—this scheme is tailor-made for your needs. And the best part? You can avail it without mortgaging your land.

SBI Tribal Plus Home Loan

What Makes SBI Tribal Plus Home Loan Unique?

This scheme is specifically devised upon the ground realities of the living conditions of tribal and hilly people. Here are its features that mark it out from mainstream home loans:

• No land mortgage – Ordinarily this is taken under tribal lands where titles are not available.
• Loan sanction against a third-party guarantee gives easy accessibility.

Loans can be used for:

• Acquisition of a new house/second-hand house (less than 10 years old)
• For the construction of your house/flat
• Repairs, renovations, or extensions of the existing property.

Taking this loan will be the branches of designated SBI in these areas aimed at encouraging inclusive housing growth.

Who could apply?

The SBI Tribal Plus Home Loan is to be obtained only by resident Indian citizens who belong to defined tribal or hilly areas. Thus, both salaried and self-employed can apply.

Eligibility Criteria:

• Resident Type: Resident Indian
• Minimum Age: 21 years
• Maximum Age: 60 years at the time of loan application 
• Loan Tenure: Up to 15 years 

Maximum Loan Amount:

• ₹20 lakhs for salaried applicants 
• ₹15 lakhs for non-salaried applicants 

Required Documents

The papers required are the same as those of other home loans, which can be preferably divided under three heads:

General Documents:

• Completed loan application along with 3 passport-size photos
• Employer ID Card (in case of salaried)
• Identity Proof: PAN, Aadhaar, Passport, Voter ID, or Driving License
• Address proof: Current utility bills, currently valid passport, current Aadhar, among others for proof of address.

Property-Related Documents:

• Permission for construction (if applicable)
• Agreement for Sale, Allotment Letter, or Stamped Agreement 
• Approved Plan Copy & Development Agreement 
• Occupancy Certificate(for ready-to-move homes) 
• Payment receipts from bank statements for payments made 

Income Documents:

For Salaried Applicants:

• Salary slips for the last 3 months 
• Form 16 for the past 2 years or ITRs 
• The last 6 months’ bank statements 

For Non-Salaried Applicants:

• ITRs and financial statements for the last 3 years 
• Business address proof and licenses 
• TDS Certificates (Form 16A) 
• Education certificates through University degree/ professional certificates 
• Interest Rate and Processing Fee 

The two features taken into consideration are daily reducing balance, for the SBI Tribal Plus Home Loan so that it can be possessed low interest rates. Exact interest may vary but will generally be in sync with SBI’s home loan card rate. 

Interest Rate and Processing Fee

• 0.35% of the loan amount 
• Min: ₹1,000 + GST 
• Max: ₹10,000 + GST 

There are no hidden charges, and no prepayment penalty-summarizing their financial transparency and flexibility.

Benefits for Women Borrowers

As said before, in this scheme, there is also a concession in interest for women home buyers. Hence, if you are applying as a woman or adding a female co-applicant (like your wife, sister, or mother), you’ll get a more diminutive interest slab making the EMI burden lighter on your pocket.

Understanding eligibility

• Collecting, curating, and organizing documentation
• Applying for the SBI Follow-ups for fast processing
• Getting personalized support all through the way