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SBI Home Loan for Women

The State Bank of India (SBI) offers home loans for all categories of applicants, including women. However, there is one home loan for women called ‘SBI Her Ghar’, which is designed specifically for women borrowers. This SBI home loan for women can be availed of online by women who are a sole or first applicant and who have property acquired/proposed to be acquired in their name. 

Updated:

Best Home Loan for Women in 2024

SBI offers the best home loan schemes for women applicants as mentioned below in detail:

SBI Her Ghar Home Loan

  • This scheme is exclusively for women and can be applied online.
  • Under this scheme, there is a 5bps (0.05%) concession in the SBI home loan interest rate for women borrowers.
  • A woman should be the sole/ first applicant to avail of this loan.
  • She should be the sole/ first owner of the acquired/to-be-acquired property.

SBI Regular Home Loan

  • The home loan interest rate varies between 8.40% - 10.05% p.a.
  • SBI offers a 5bps concession in home loan interest rate for women under this scheme.
  • No processing fee is applicable
  • Resident Indians aged between 18 - 70 years can apply.
  • Can be availed for all housing finance needs.
  • The maximum repayment tenure is 30 years.
  • Home loans available as overdraft facility as well.
  • For this scheme, the SBI home loan for womens eligibility is same as men’s.
  • No hidden charges or prepayment penalty.

SBI Yuva Home Loan

  • This is a housing loan for women and men between the age group of 21 to 45 years.
  • 20% higher loan amount eligibility.
  • Pay interest-only instalments for 36 months followed by regular Equated Monthly Instalments (EMIs).
  • Employees of MNCs, PSUs, Private Sector Companies or Government undertakings are eligible.
  • The minimum salary required is Rs. 30,000 per month.

SBI Max Gain Home Loan

  • SBI Max Gain is a home loan overdraft facility.
  • Minimum limit of Rs. 20 Lakhs
  • The SBI home loan interest for female for this scheme varies between 8.80% and 9.65% p.a.
  • Maximum interest saving with a deposit in the account.
  • Account deposit reduces the principal amount & thus reduces the monthly interest rate in EMI.

SBI NRI Home Loan

  • It is a home loan scheme for ladies and men who are Non-Resident Indians (NRI) or Persons of Indian Origin (PIO).
  • The loan can be repaid within 30 years of tenure.
  • The interest rate varies between 8.85% and 9.65% p.a.
  • No hidden charges & prepayment penalty.
  • The borrower should be aged between 18 to 60 years.
  • Channelise repayment from abroad or from the NRO/ NRE account.
  • Available as overdraft as well.
  • No processing fee is applicable till 31.03.2023.
  • Interest concession for women applicants.

SBI Flexipay Home Loan

  • This scheme offers exclusive SBI offer for salaried young professionals who are Indian residents.
  • 20% higher loan amount eligibility.
  • EMIs increase with the tenure of the loan.
  • Under home loan benefits for ladies, women get a concession in interest rate.
  • The interest rate varies between 8.85% and 9.65% p.a.
  • The maximum tenure of 30 years.
  • The borrower should be aged below 45 years to apply for the loan and up to 70 years for repayment.
  • Moratorium and moderated EMI options are available.

SBI Shaurya Home Loan

  • Army and defence personnel of India can avail of this home loan.
  • No processing fee is applicable.
  • Home loan subsidy for female as an interest concession.
  • Interest concession in case Check Off is provided.
  • Repayment tenure up to 30 years.
  • The interest rate varies between 8.75% and 9.55% p.a.
  • The borrower should be aged between 18 to 75 years.
  • Full waiver of processing fee.

SBI Privilege Home Loan

  • This is an exclusive home loan scheme for employees of the Central or State Government and other individuals with pensionable service.
  • The borrower should be aged between 18 to 75 years.
  • The maximum tenure of 30 years.
  • The interest rate varies between 8.85% and 9.65% p.a.
  • No processing fees or prepayment penalty.
  • Interest concession/ subsidy on home loan for ladies.

SBI Balance Transfer of Home Loan

  • This scheme provides the facility to switch your existing home loan balance from another bank/ non-banking financial company (NBFC) to SBI to get a reduced interest rate.
  • Only resident Indians can apply.
  • The eligibility criteria for SBI Home Loan Balance Transfer are the same as SBI Regular Home Loan.

SBI Pre-Approved Home Loan (SBI PAL)

  • Exclusive pre-approved home loan offers for house purchase.
  • Pre-approved loan agreement letter will be valid for 4 months only.
  • The loan has to be repaid within 30 years.
  • Finalise the property and submit documents later.
  • The minimum loan amount available is Rs. 10 Lakhs.
  • The borrower should be aged between 18 to 70 years.
  • After sanction, it becomes a regular SBI Home Loan.

SBI Realty Home Loan

  • This SBI Bank Plot Loan is for purchasing a residential plot.
  • Construction should be finished within 5 years of sanction.
  • A loan for the construction of the house can be availed of.
  • The interest rate varies between 8.80% and 9.60% p.a.
  • The maximum loan amount offered is up to Rs. 15 Crores.
  • Maximum tenure is 10 years.
  • The borrower should be aged between 18 to 65 years.
  • Other eligibility criteria are the same as regular home loans.

SBI Bridge Home Loan

  • Homeowners aspiring to upgrade their homes or shift to a bigger house and better location by selling their existing property can avail of this facility.
  • It helps customers face the liquidity mismatch due to the time lag between the sale of their existing property and the purchase of a new property.
  • The minimum amount under this scheme is Rs. 20 Lakhs, and the maximum is Rs. 2 Crores.
  • The loan tenure is 2 years only.

SBI Home Top-Up Loan

  • Existing home loan customers can apply.
  • The SBI women's home loan interest rate varies between 9.25% and 10.15% p.a. till 31.03.2023.
  • No prepayment penalty is involved.
  • Perfect for meeting immediate housing-related requirements.
  • Both residents and NRIs aged between 18 to 70 years can apply for this scheme.

SBI Smart Home Top-Up Loan

  • SBI Smart Home Top Up loan is available for existing home loan customers.
  • Immediate sanction up to Rs 5 Lakhs, without any documents.
  • No restriction on the usage of funds.
  • The interest rate varies between 9.75% and 10.15% p.a.
  • The applicant’s age should not be above 70 years.
  • The minimum CIBIL score required is 550.
  • Another Home Loan Top-Up/ Insta Home Top-Up should not be active when availing of this scheme.

SBI YONO Insta Home Top-Up Loan

  • Instant Top-up loan scheme for pre-selected SBI housing loan customers on YONO mobile app.
  • The easy 3-step process with instant disbursement.
  • Available as an overdraft. 
  • The interest rate varies starting from 9.75% p.a.
  • 100% digital product with no paperwork or branch visit. 
  • Flat processing fee of Rs. 2,000 + applicable taxes.

SBI Tribal Plus

  • Home Loan scheme for residents of hilly or tribal areas of the North East and areas surrounding Patna, Chandigarh, Lucknow, Bhubaneswar, and Bhopal.
  • The house to be purchased should not be more than 10 years old.
  • No need to create a mortgage on the land.
  • The interest rate varies between 9.25% and 9.75% p.a.
  • Scheme available to employees of Central & State Governments, PSUs, and reputed Private Sector companies.
  • The maximum loan amount is up to Rs. 10 Lakhs.
  • The maximum tenure is 15 years.

SBI Home Loan for Non-Salaried Persons

  • Housing loan scheme for non-salaried individuals.
  • The owner (s) of a proprietorship firm or a partner/ director of any company can apply.
  • The interest rate varies between 8.85% and 9.65% p.a.
  • The firm should be profitable for at least the last 3 years.
  • Loan amount of Rs. 50,000 to 50 Crores is available for up to 30 years tenure.

SBI CRE (Commercial Real Estate) Home Loan

  • A maximum of 3 loans under CRE can be availed, with ownership of up to 5 homes.
  • Resident Indians aged between 18 to 70 years can apply.
  • Maximum tenure up to 30 years.
  • Home loan available as an overdraft.
  • The interest rate varies between 9.35% and 10.15% p.a.

Pradhan Mantri Awas Yojana (PMAY)

  • Under this home loan scheme for women's by Modi, persons belonging to low & middle-income groups who don’t have a house in their name anywhere in India can apply for a home loan.
  • This government loan scheme for women gives borrowers an annual subsidy up to Rs. 2.67 Lakhs on their home loans under the pradhan mantri women's home loan scheme.
  • PMAY is Central Government’s pilot scheme which is offered by many banks, including SBI home loan for housewife.

You can also check SBI Loan Against Property Online

HDFC Home Loan Offer

Eligibility Criteria for SBI Home Loans for Women

The eligibility criteria for SBI home loans for women is the same as for men borrowers:

  • Salaried as well as self-employed are eligible to apply.
  • Exclusive home loan schemes are available for employees of Central & State Governments, PSUs, public sector banks, and other Government departments like Defence.

Eligibility for Salaried Employees

  • The minimum age should be 18 years.
  • The loan should be repaid prior the retirement.
  • The maximum age at maturity is 70 years for select customers.
  • The value of the property, income and repayment capacity of the borrower determine eligibility for the loan.
  • The minimum salary requirement is Rs. 25,000 per month.

Eligibility for Self-Employed Professionals & Self-Employed Non-Professionals 

  • Business owners or self-employed individuals can apply on submission of credible and verifiable proof for sources of regular income.
  • The minimum age should be 18 years.
  • The maximum age at maturity should be 70 years or below.

Additional Info: Also check SBI Home Loan Eligibility

PNB Housing Home Loan

SBI Home Loan Interest Rate for Women

Currently, SBI home loan interest rates range from 8.40% - 10.05% per annum. The interest rate may vary depending on several factors, including the type of housing loan scheme to be availed of, the CIBIL score of the borrower, the type of facility (Term Loan and Overdraft), loan amount, etc. The women's home loan interest rate is usually lower than their male counterparts. 5bps concession is available to women borrowers, which means home loan women's interest rate is lower by 0.05%, subject to a minimum EBR (i.e. 9.15%).

Tip: 50 Lakh Home Loan EMI Interest Rate 2024 before applying for a loan

Features and Benefits of SBI Home Loans for Ladies

The following are the key features and benefits of SBI home loans:

  • SBI home loan interest rates are affordable, starting from 8.40% - 10.05% p.a.
  • SBI home loan women's interest rate is lower than that for men. Women get a 5 bps interest concession in interest rate.
  • SBI offers loan amounts up to 80% to 90% of the property’s cost.
  • The processing fee for the SBI Bank home loan is NIL
  • The loan can be repaid conveniently in flexible tenure of up to 30 years.
  • The bank offers a wide range of housing loan schemes catering to every housing-related need of customers.

Additional Info: Also check SBI Home Loan EMI Calculator

Government Loan Scheme for Women in SBI

SBI offers Pradhan Mantri Awas Yojana (PMAY) housing loan scheme. The key features are mentioned below:

  • Under this scheme, persons belonging to low & middle-income groups who don’t have a house in their name anywhere in India can apply for a home loan.
  • This scheme gives borrowers an annual subsidy of up to Rs. 2.67 Lakhs on their home loans.
  • PMAY is Central Government’s pilot scheme which is offered by many banks, including SBI.

Additional Info: Also check How to Apply for Pradhan Mantri Awas Yojana

Subsidy on SBI Home Loan for Ladies

Women can get an annual subsidy up to Rs. 2.67 Lakhs on their home loans under the PMAY scheme. The interest rate for women borrowers is usually lower than their male counterparts. 5bps concession is available to women borrowers, which means the interest rate is lower by 0.05%, subject to a minimum EBR (i.e. 9.15%).

You can also check best Home Loans in Chennai at affordable interest rates

FAQs for SBI Home Loan for Women

Is female ownership mandatory for PMAY?

Yes, PMAY has made it mandatory for the female head of the family to be the sole owner or co-owner of the house. This home loan for housewives as well as working women offers an annual subsidy of up toRs. 2.67 Lakhs.

Is there any scheme for women to buy a house?

Women can avail of any of the following housing loan schemes offered by SBI to buy a house:

  • SBI Her Ghar Home Loan
  • SBI Regular Home Loan
  • SBI Yuva Home Loan
  • SBI Max Gain Home Loan
  • SBI NRI Home Loan
  • SBI Flexipay Home Loan
  • SBI Shaurya Home Loan
  • SBI Privilege Home Loan
  • SBI Pre-Approved Home Loan (SBI PAL)
  • SBI Tribal Plus
  • SBI Home Loan for Non-Salaried Persons

How Much home loan can a woman get?

SBI offers up to 80% to 90% of the property’s cost as the home loan amount.

Can both husband and wife claim housing loan benefits?

Yes, housing loan benefits are available to both husband and wife.

Can a housewife apply for a home loan?

A housewife with a regular source of income can apply for a home loan.

Which bank gives loans to women?

Many banks, including SBI, HDFC, ICICI, Kotak Mahindra, Bank of Baroda, etc., offer home loans to women borrowers. 

Can a single woman get a home loan?

Yes, a single woman gets a home loan, subject to meeting the eligibility criteria for the loan.

What is the interest for the SBI housing loan for ladies?

Currently, SBI home loan interest rates range from 9.15% and 10.15% per annum. The women borrowers usually get a 5bps concession in the SBI home loan interest rate.

What are the home loan interest rates for women in 2023?

In SBI, the home loan interest rates for women in 2023 start from 9.15% p.a.

Who can avail of a loan under Orient Mahila Vikas Yojana Scheme?

Women who have a minimum of 51% of individual or joint share can be a part of the Orient Mahila Vikas Yojana Scheme launched by OBC or Oriental Bank of Commerce bank. However, collateral is required for loans between Rs. 10 Lakhs and Rs. 25 Lakhs, and the loan must be repaid within 5 to 7 years.