SBI Home Loan Eligibility Calculator Based on Salary 2026 | Banker Mart

Buying a home is one of the biggest financial decisions in a person\'s life. For most Indian families, a home loan from State Bank of India makes this dream possible. But before you fill out any application form, there is one important step you must take. You need to check your home loan eligibility.

SBI home loan eligibility is the maximum loan amount that State Bank of India is willing to lend you. This amount depends on your repayment capacity. The bank wants to be sure that you can pay back the loan on time without struggling with your monthly expenses.

Eligibility is not the same for everyone. Two people with the same salary may get different loan amounts. This happens because the bank looks at many factors. These include your age, job stability, existing loans, credit history, and even the value of the property you want to buy.

Many people apply for a loan without checking eligibility first. This often leads to rejection and disappointment. When a bank rejects your loan application, it also hurts your credit score. So checking eligibility before applying saves time, money, and stress.

Salary Wise Eligibility Table

The table below shows approximate loan amounts for different salary levels. These figures assume you have no existing EMIs, a credit score above 750, and you choose a 20 year or 30 year loan tenure at 8.5 percent interest. Your actual loan amount may vary based on your exact situation.

Note: Calculations assume 8.5% interest rate, CIBIL score 750 or above, no existing EMIs, and FOIR limit of 50%. These are approximate figures. Actual loan amount depends on bank verification.

How SBI Calculates Your Loan Amount

SBI uses a standard method to calculate home loan eligibility. This method is approved by the Reserve Bank of India. The bank follows strict rules to make sure lending is responsible and fair.

The main formula that SBI uses is called FOIR. FOIR stands for Fixed Obligation to Income Ratio. In simple language, it means how much of your monthly income is already spent on existing payments.

Here is how the calculation works step by step.

First, the bank looks at your monthly take home salary or business income. This is your net income after taxes.

Second, the bank checks all your existing monthly obligations. These include EMIs for car loans, personal loans, credit card dues, and any other loan payments.

Third, the bank applies the FOIR limit. For most salaried applicants, SBI allows up to 50 to 55 percent of monthly income towards total EMI payments. This means if you earn ₹50,000 per month, your total EMI including the new home loan cannot exceed ₹25,000 to ₹27,500.

Fourth, the bank calculates how much EMI you can afford for the home loan. They subtract your existing EMIs from the allowed FOIR limit.

Fifth, using this affordable EMI amount, the bank works backwards to find the loan amount. They use the loan tenure and current interest rate to calculate the principal loan amount you can get.

Example Calculation:

Let us say your monthly salary is ₹50,000. Your FOIR limit at 50 percent is ₹25,000. You already pay ₹8,000 for a car loan. Now your home loan EMI cannot exceed ₹17,000. With ₹17,000 EMI for 20 years at 8.5 percent interest, your loan amount comes to approximately ₹22 to 25 lakhs.

Important RBI Rule:

Banks in India cannot lend more than 50 to 55 percent of your monthly income towards total EMIs. This rule protects you from taking too much debt. If your existing EMIs already use up this limit, your home loan application may get rejected.

Real Life Calculation Example

Let us take a real example to understand this better.

Mr. Sharma\'s Profile:

• Monthly Salary: ₹60,000

• Age: 32 years

• Existing Car Loan EMI: ₹10,000 per month

• Wants Home Loan Tenure: 25 years

• Current Interest Rate: 8.5% per annum

• CIBIL Score: 780

Step 1: Calculate FOIR Limit
Monthly income: ₹60,000
Maximum allowed EMI (50% of income): ₹30,000

Step 2: Subtract Existing EMI
Available for home loan: ₹30,000 - ₹10,000 = ₹20,000 per month

Step 3: Calculate Loan Amount
With ₹20,000 EMI for 25 years at 8.5% interest, the loan amount comes to approximately ₹28 to 30 lakhs.

Step 4: Check Property Value
If Mr. Sharma wants to buy a property worth ₹50 lakhs, SBI will finance up to 75 to 80 percent which is around ₹37 to 40 lakhs. But his income eligibility shows only ₹28-30 lakhs. So the actual loan will be ₹28-30 lakhs. He needs to arrange the remaining amount as down payment.

Final Verdict: Mr. Sharma can get a home loan of approximately ₹28 lakhs from SBI based on his salary and existing EMI.

Factors That Change Your Eligibility

Your home loan eligibility depends on many factors. Understanding each one helps you improve your chances of getting a larger loan.

Monthly Income

Your income is the most important factor. Higher income means higher loan eligibility. SBI considers your regular fixed income from salary or business. They also look at rental income, but they give more weight to stable income sources.

For salaried people, SBI prefers those who have worked continuously for at least two to three years. Frequent job changes can reduce eligibility.

For self employed individuals, SBI looks at the average profit from the last three years of income tax returns. They do not just look at one good year. Consistency matters more than a single high income year.

Tip: If you receive rental income or an annual bonus, show it in your bank statements. The bank may consider part of it.

Existing EMIs

Existing loan payments reduce your eligibility. If you are already paying EMI for a car loan or personal loan, the bank will deduct that amount from your FOIR limit.

Example: You earn ₹60,000 per month. The FOIR limit is 50 percent, so total EMI allowed is ₹30,000. You already pay ₹10,000 for a car loan. Now your home loan EMI cannot exceed ₹20,000. This lower EMI means you get a smaller home loan.

Tip: If possible, close small loans like personal loans or credit card dues before applying for a home loan. This will increase your eligibility significantly.

Credit Score

Your credit score is a number between 300 and 900. It shows how responsibly you have handled loans and credit cards in the past. SBI prefers applicants with a credit score of 750 or above.

A high score tells the bank that you pay your EMIs on time. It builds trust. A low score below 650 can lead to rejection or a smaller loan amount.

Tip: You can check your credit score for free on many platforms. If your score is low, take six months to improve it before applying for a home loan. Pay all bills on time and reduce credit card balances.

Age

Your age affects both eligibility and loan tenure. Younger applicants get longer loan tenures. Longer tenure means smaller EMIs and higher eligibility.

For example, a 25 year old can get a loan for up to 30 years. A 50 year old may only get 10 to 15 years. Since the older person has fewer earning years left, the bank offers a smaller loan amount.

Tip: The best age to apply for a home loan is between 25 and 40 years. You get maximum tenure and highest eligibility.

Employment Type

SBI treats salaried and self employed applicants differently. Salaried employees working with government, public sector, or reputed private companies get higher eligibility. Their income is stable and predictable.

Self employed professionals like doctors, chartered accountants, and architects also get good eligibility. Business owners with steady profits and proper tax records are also eligible. However, the bank asks for more documents from self employed applicants.

Tip: If you are self employed, maintain at least three years of consistent income tax returns. Higher profits lead to higher loan amounts.

Co applicant Income

Adding a co applicant increases your total household income. The co applicant can be your spouse, parent, or working child. SBI combines both incomes to calculate eligibility. This can significantly increase your loan amount.

However, the co applicant is equally responsible for repaying the loan. Their credit score also matters. If the co applicant has a poor credit history, it may hurt your application instead of helping.

Tip: Add a co applicant who has a clean credit history and stable income. Even a small extra income of ₹20,000 to ₹30,000 can increase your loan by ₹10 to 15 lakhs.

Property Value

The bank also checks the property value. SBI usually finances up to 75 to 80 percent of the property value. This is called the Loan to Value ratio or LTV. For loans above ₹75 lakhs, the LTV is 75 percent. For smaller loans, it can be up to 90 percent.

Even if your income is high, you cannot get a loan for more than the LTV limit. You have to pay the remaining amount as down payment from your own savings.

Tip: Look for properties that are approved by SBI. The bank has a list of pre approved projects. This speeds up your loan process.

Loan Tenure

Longer tenure reduces your monthly EMI. Lower EMI means you can afford a larger loan amount within the FOIR limit. SBI offers home loan tenure up to 30 years for eligible applicants.

But be careful. Longer tenure also means you pay more total interest. You should choose a tenure that balances affordable EMI with reasonable total interest cost.

Tip: If you are young, choose 25 to 30 years tenure. You can always prepay later when your income increases. This keeps your EMI low and loan amount high.

Salary Bracket Wise Breakdown

Different salary brackets need different strategies. Here is a detailed breakdown.

₹25,000 to ₹35,000 Salary Bracket

At this salary level, your loan amount is limited. For ₹25,000 salary, you can get approximately ₹16 to 18 lakhs for 20 years. For ₹35,000 salary, you can get around ₹24 to 28 lakhs.

What you can do:

• Look at affordable housing schemes under PMAY. You may get interest subsidy.

• Consider properties in developing areas or smaller cities.

• Add a co applicant if possible. A working spouse can double your eligibility.

• Choose 30 years tenure to reduce EMI.

Example Properties: 1 BHK flats in tier 2 cities, small residential plots, affordable housing projects.

₹40,000 to ₹60,000 Salary Bracket

This is a comfortable salary range for a modest home loan. For ₹40,000 salary, you can get approximately ₹28 to 32 lakhs. For ₹60,000 salary, you can get around ₹44 to 52 lakhs.

What you can do:

• Look at 2 BHK apartments in tier 2 cities or outskirts of metro cities.

• Consider 20 to 25 years tenure for balance between EMI and interest.

• If you add a co applicant, you can reach up to ₹60 to 70 lakhs.

• Check SBI\'s special schemes for women borrowers. Some schemes offer lower interest rates.

Example Properties: 2 BHK apartments in Noida Extension, Ghaziabad, Navi Mumbai, Thane, or tier 2 cities like Pune, Ahmedabad, Jaipur.

₹75,000 to ₹1,50,000+ Salary Bracket

This income level gives you strong eligibility. For ₹75,000 salary, you can get approximately ₹55 to 70 lakhs. For ₹1,00,000 salary, you can get around ₹75 to 90 lakhs. For ₹1,50,000 salary, you can get up to ₹1.2 to 1.6 crores.

What you can do:

• Look at premium properties in metro cities.

• You have better bargaining power with property sellers.

• Consider investment properties that generate rental income.

• Shorter tenure of 15 to 20 years is possible because EMI affordability is high.

Example Properties: 3 BHK apartments in Mumbai, Delhi, Bengaluru, Gurugram, Hyderabad. Also可以考虑 luxury apartments and villas in gated communities.

When You Have Existing Loans

Having existing EMIs reduces your new home loan eligibility. But it does not mean you cannot get a home loan.

Let us understand this with numbers. Suppose you earn ₹60,000 per month. The FOIR limit is 50 percent, so total EMI allowed is ₹30,000. You already have a car loan EMI of ₹12,000 and a personal loan EMI of ₹5,000. Your existing EMIs total ₹17,000.

Now your home loan EMI cannot exceed ₹30,000 minus ₹17,000 which equals ₹13,000. With an EMI of ₹13,000 for 20 years at 8.5 percent, your home loan amount is only around ₹15 to 17 lakhs.

If you had no existing EMIs, the same income would get you ₹34 to 36 lakhs. So existing loans cut your eligibility by more than half.

Impact Table:

What you can do in this situation:

First, prepay your smaller loans before applying for the home loan. Even closing a personal loan of ₹5,000 EMI helps.

Second, add a co applicant with no existing loans. Their income can increase the total household income without adding to existing EMIs.

Third, choose a longer tenure like 25 or 30 years. This reduces the monthly EMI for the same loan amount, making it fit within your remaining FOIR limit.

Ways to Increase Your Eligibility

Many people want a larger home loan but their current eligibility is low. Here are practical ways to increase your eligibility.

Add a Co applicant

This is the fastest way to increase eligibility. Your spouse, parents, or working children can be co applicants. Their income adds to yours. Just make sure they have a good credit score. A co applicant with poor credit history can ruin your application.

How much it helps: Adding a spouse earning ₹30,000 to your ₹50,000 income can increase your loan by ₹20 to 30 lakhs.

Clear Existing Loans

Every existing EMI reduces your FOIR limit. Pay off your car loan, personal loan, or credit card dues before applying for a home loan. Even prepaying part of a loan helps.

How much it helps: Clearing a ₹10,000 EMI can increase your home loan amount by ₹12 to 15 lakhs.

Improve Your Credit Score

A credit score above 750 gives you better eligibility. Pay all bills on time. Do not miss any EMI. Keep credit card usage below 30 percent of your limit. Check your credit report every six months for errors.

How much it helps: Moving from 650 to 750 score can increase eligibility by 10 to 15 percent and lower interest rate by 0.5 to 1 percent.

Choose a Longer Tenure

Longer tenure means smaller EMIs. Smaller EMIs mean you can fit a larger loan within your FOIR limit. If you are young, choose 25 or 30 years tenure. You can always prepay later when your income increases.

How much it helps: Choosing 30 years instead of 20 years can increase loan amount by 20 to 25 percent for the same EMI.

Show Additional Income

If you get rental income, show it in your income tax return. SBI considers this as additional income. Similarly, if you get a regular annual bonus, the bank may consider 50 percent of it as part of your income.

How much it helps: Showing ₹10,000 monthly rental income can increase loan by ₹8 to 10 lakhs.

Apply with a Better Property Value

The LTV ratio limits your loan to a percentage of property value. If you choose a lower value property, you get a smaller loan. But if you can afford a higher value property with a larger down payment, the absolute loan amount can be bigger.

How much it helps: Choosing a property with clear title and good location can get you higher LTV up to 90 percent for smaller loans.

Maintain Stable Employment

SBI prefers applicants with at least two years of continuous employment. Frequent job changes or gaps in employment reduce eligibility. Stay with your current employer for at least two years before applying.

How much it helps: Stable employment can increase eligibility by 5 to 10 percent compared to someone with frequent changes.

Reduce Credit Card Utilization

Using more than 30 percent of your credit card limit affects your credit score. Keep your credit card usage below 30 percent. Pay your credit card bills in full every month.

How much it helps: Reducing utilization from 80 percent to 30 percent can increase CIBIL score by 30 to 50 points in a few months.

Apply with the Bank Where You Have Salary Account

If you have a salary account or savings account with SBI for many years, the bank already knows your income pattern. This can lead to faster approval and sometimes better eligibility.

How much it helps: Existing relationship can reduce processing time by 3 to 5 days and may offer 0.1 to 0.2 percent lower interest.

Use SBI\'s Special Schemes

SBI has special home loan schemes for women, government employees, and customers of certain professions. These schemes may have lower interest rates or higher eligibility.

How much it helps: Women borrowers sometimes get 0.05 to 0.10 percent lower interest rates.

Credit Score Impact on Eligibility

Your credit score plays a huge role in determining both your eligibility and your interest rate.

CIBIL Score Table:

How to Check Your CIBIL Score for Free

You can check your CIBIL score once a year for free through the RBI website. Many financial apps also offer free credit score checks. Some popular options are Google Pay, Paytm, and Cred. These apps show your score without hurting your credit.

How to Improve a Low CIBIL Score

If your score is below 700, do not apply for a home loan yet. Take six to twelve months to improve it.

First, pay all your existing EMIs on time. Set up auto debit from your bank account so you never miss a due date.

Second, reduce your credit card balances. Try to keep the balance below 30 percent of your limit. If your limit is ₹1,00,000, keep the balance below ₹30,000.

Third, do not apply for multiple loans or credit cards at once. Each application triggers a hard inquiry which reduces your score by 3 to 5 points.

Fourth, check your CIBIL report for errors. Sometimes old loans that you have closed still show as open. Dispute these errors with CIBIL.

Fifth, if you have old credit cards, do not close them. A longer credit history helps your score.

SBI vs Other Banks Comparison

SBI is not the only bank offering home loans. Here is how SBI compares with other major banks.

Comparison Table:

Eligibility Comparison Example:

Take a salaried employee with ₹60,000 monthly salary, no existing EMIs, CIBIL score 780.

• SBI: Loan amount approx ₹48 to 52 lakhs for 30 years

• HDFC: Loan amount approx ₹46 to 50 lakhs for 30 years

• ICICI: Loan amount approx ₹44 to 48 lakhs for 30 years

• Bank of Baroda: Loan amount approx ₹47 to 51 lakhs for 30 years

Which bank should you choose?

Choose SBI if you want the lowest interest rate and you are not in a hurry. The processing takes 10 to 15 days but you save money in the long run.

Choose HDFC if you need faster approval. They can approve your loan in 5 to 7 days. The interest rate is slightly higher but the service is faster.

Choose ICICI if you are self employed. They are more flexible with business income documentation.

Choose Bank of Baroda if you are a government employee. They have special schemes for central and state government staff.

Benefits of Adding a Co Applicant

A co applicant is a person who applies for the loan with you. Both of you are equally responsible for repaying the loan. Both names appear on the property title.

Who can be a co applicant?

SBI allows the following people as co applicants:

• Spouse (husband or wife)

• Parents (father or mother)

• Children (working son or daughter)

• Siblings (brother or sister) in some cases

The co applicant must have a stable income and a good credit score. Their age should also meet the bank\'s criteria.

How much does a co applicant help?

Let us say you earn ₹50,000 per month. Alone, you can get a loan of around ₹35 to 40 lakhs.

Now you add your spouse who earns ₹40,000 per month. The combined income becomes ₹90,000 per month. Your combined eligibility jumps to approximately ₹70 to 80 lakhs. That is almost double.

Real example:

• Mr. Mehta alone: Salary ₹60,000 → Loan ₹45 lakhs

• Mrs. Mehta alone: Salary ₹40,000 → Loan ₹30 lakhs

• Both together: Combined income ₹1,00,000 → Loan ₹75 to 85 lakhs

Important considerations:

The co applicant is equally responsible for payments. If you miss an EMI, the bank will ask the co applicant to pay. Their credit score also gets affected if payments are missed.

Both of you need to have good credit scores. If the co applicant has a score below 700, it may hurt your application instead of helping.

Property ownership usually becomes joint when you add a co applicant. This means both names appear on the property papers. Make sure you are comfortable with this arrangement.

FAQs about SBI Home Loan Eligibility Calculator Based on Salary

Q1: How much home loan can I get on ₹30,000 salary from SBI?

If your monthly salary is ₹30,000 and you have no existing EMIs with a CIBIL score above 750, you can get approximately ₹20 to 22 lakhs for 20 years. If you choose 30 years tenure, the loan amount increases to ₹25 to 28 lakhs. Your monthly EMI would be around ₹18,000 for 20 years and ₹15,000 for 30 years.

Q2: Can I get an SBI home loan if I already have existing loans?

Yes, you can apply for an SBI home loan even if you have existing loans. However, your existing EMIs will reduce your home loan eligibility. SBI allows up to 50 percent of your salary towards total EMIs. If you are already paying ₹10,000 EMI, that amount will be deducted from your home loan EMI capacity. It is better to clear small loans before applying or add a co-applicant.

Q3: What is the minimum CIBIL score required for an SBI home loan?

SBI prefers a minimum CIBIL score of 750 or above for home loans. With a score above 750, you get the lowest interest rates. If your score is between 700 and 749, you may still get a loan but with a slightly higher interest rate (0.25 to 0.50 percent extra). Below 650, your chances of loan approval become very low.

Q4: Does SBI offer home loans to self-employed individuals?

Yes, SBI offers home loans to self-employed individuals including business owners, doctors, chartered accountants, and architects. However, they need to submit additional documents including last 3 years income tax returns, profit and loss statement, balance sheet, and GST returns if applicable. Business stability of at least 3 years is required. Interest rates may be slightly higher (0.25 to 0.50 percent) compared to salaried applicants.

Q5: How much does adding a spouse as co-applicant help in eligibility?

Adding your spouse as a co-applicant can increase your home loan eligibility by 30 to 50 percent. For example, if you alone earn ₹50,000 and are eligible for ₹35-40 lakhs, adding your spouse with ₹30,000 salary makes the combined income ₹80,000. Your eligibility will jump to approximately ₹65-75 lakhs. Make sure your spouse has a good CIBIL score as well.

Q6: What is the maximum tenure for an SBI home loan?

SBI offers a maximum tenure of 30 years for home loans. However, not all applicants get this tenure. Younger applicants below 35 years typically get 30 years tenure. If you are between 35 and 40 years old, you may get 20 to 25 years. Applicants above 50 years usually get only 10 to 15 years because the loan must be repaid before retirement age.

Q7: Can I prepay my SBI home loan early? Are there any charges?

Yes, you can prepay your SBI home loan early. If you have taken a floating rate loan, there are no prepayment penalties as per RBI guidelines. You can make part payments or close the entire loan anytime. For fixed rate loans, there may be prepayment charges of 2 to 4 percent in some cases. Always read your loan agreement carefully before signing.

Q8: What is the fastest way to increase SBI home loan eligibility?

The fastest way to increase your eligibility is to add a co-applicant. Adding a working spouse or parent can instantly increase your eligibility by 30 to 50 percent. The second fastest way is to clear your existing small loans like personal loans or credit card dues. This can increase eligibility by 20 to 30 percent. Choosing a longer tenure of 30 years is also helpful.

Q9: Is there any eligibility difference between government and private jobs?

Yes, there is a slight difference. SBI considers government employees (central or state) as more stable borrowers. They may get slightly higher eligibility and sometimes 0.05 to 0.10 percent lower interest rates. Private job employees also get loans easily, but if you work for a small or new company, the bank may ask for additional documents.

Q10: What is the minimum and maximum age for an SBI home loan?

The minimum age to apply for an SBI home loan is 21 years. The maximum age at loan maturity is 60 years for salaried employees and 65 to 70 years for self-employed individuals. This means if you are 50 years old, you will get a maximum tenure of only 10 years. The younger you apply, the longer tenure and higher loan amount you can get.

Q11: Can I get an SBI home loan on ₹25,000 salary?

Yes, you can get an SBI home loan even with a ₹25,000 salary. For 20 years tenure, you can get approximately ₹16 to 18 lakhs. If you choose 30 years tenure, the loan amount increases to ₹20 to 22 lakhs. In this salary bracket, you should look at affordable housing options. You may also be eligible for PMAY interest subsidy. Adding a co-applicant will further increase your loan amount.

Q12: Where can I check my SBI home loan eligibility online for free?

You can use the free SBI home loan eligibility calculator on BankerMart.com. The calculator has salary slider, existing EMI input, tenure selector, and co-applicant toggle. Just enter your monthly salary, existing EMI if any, select tenure, and get instant results. This calculator does not affect your credit score and is completely free. SBI official website also offers this facility.

Q13: Can I make my parents co-applicants for an SBI home loan?

Yes, you can add your parents as co-applicants if they have regular income such as pension, salary, or business income. Their CIBIL score should be good (above 700). However, remember that they become equally responsible for loan repayment. If you miss EMIs, the bank can recover money from them. Property ownership may also become joint with your parents.

Q14: What is SBI\'s FOIR percentage for home loan eligibility?

SBI\'s FOIR (Fixed Obligation to Income Ratio) is between 50 to 55 percent for salaried applicants. This means if your monthly salary is ₹50,000, your total EMIs including existing loans and the new home loan cannot exceed ₹25,000 to ₹27,500. For self-employed applicants, the FOIR limit is lower at 40 to 45 percent due to higher income uncertainty in business.

Q15: Is ITR mandatory for an SBI home loan?

For salaried employees, ITR (Income Tax Return) is not mandatory. They need last 3 months salary slips, 6 months bank statement, and Form 16. However, for self-employed applicants, ITR is mandatory. They must submit last 3 years ITR, balance sheet, and profit and loss statement. If you are self-employed and do not file ITR, you cannot get an SBI home loan.

Q16: Does SBI refund the processing fee if the home loan is rejected?

SBI\'s processing fee is generally non-refundable. If your loan gets rejected, you will not get the processing fee back. This is why you should always check your eligibility using a calculator and verify your CIBIL score before applying. SBI charges a processing fee of 0.35 percent of the loan amount with a minimum of ₹2,000 and maximum up to ₹10,000.

Q17: Is property insurance mandatory for an SBI home loan?

Property insurance is not mandatory for an SBI home loan, but the bank strongly recommends it. If the property is damaged by fire, earthquake, flood, or other natural disasters, insurance protects the bank\'s money. If you do not take insurance, the bank may ask you to sign a declaration. Insurance typically costs ₹2,000 to ₹5,000 per year for a ₹50 lakh property.

Q18: Can I transfer my SBI home loan to another bank?

Yes, you can transfer your SBI home loan to another bank if they offer a lower interest rate. Under RBI rules, there is no penalty for balance transfer of floating rate loans. The new bank will pay off your existing loan and issue a new loan. You may have to pay transfer fees of 0.5 to 1 percent and legal valuation charges. Always compare rates and charges before transferring.

Q19: What percentage of down payment is required for an SBI home loan?

The down payment for an SBI home loan is between 15 to 25 percent of the property value. This is called the LTV (Loan to Value) ratio as per RBI rules:

• Loans up to ₹30 lakhs: LTV 90% (down payment 10%)

• Loans between ₹30 to ₹75 lakhs: LTV 80% (down payment 20%)

• Loans above ₹75 lakhs: LTV 75% (down payment 25%)

For example, on a ₹50 lakh property, you need to pay at least ₹10 lakh (20 percent) as down payment from your own savings.

Q20: How much time does SBI take to approve a home loan?

SBI typically takes 5 to 15 days to approve a home loan. If your documents are complete, the property is legally clear, and you are an existing SBI customer, approval can come in 3 to 5 days. If there are issues with property verification or legal checks, it may take 15 to 20 days. Self-employed applicants may take longer due to additional document verification. Keep all documents ready before applying to speed up the process.