15 Lakh SBI Home Loan

15 Lakh Home Loan from SBI is applicable for different purposes like buying a house, property investing and refinancing. Many people trust the State Bank of India highly as it is regarded as very reliable. Their home loan services are accessible and affordable. You can pay a 15 Lakh home loan from SBI in comfortable monthly payments. 

Another important element that affects the EMI amount is the loan tenure; longer periods mean lower EMI costs. EMIs are applicable for loan tenures of 10 years and 20 years.

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Table of Content

1. 15 Lakh Home Loan SBI Highlights

2. 15 Lakh Home Loan EMI for 5 Years From SBI

3. 15 Lakh Home Loan EMI for 10 Years From SBI

4. 15 Lakh Home Loan EMI For 15 Years From SBI

5. 15 Lakh Home Loan EMI For 20 Years From SBI

6. 15 Lakh SBI Home Loan Fees and Charges

7. Documents Required For 15 Lakh Home Loan From SBI

8. Eligibility Criteria For 5 Lakh SBI Home Loan

Read more
Written By
Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

15 Lakh Home Loan SBI – Highlights 

A 15 lakh home loan from SBI is available based on the above conditions. 

Maximum Loan Amount ₹ 15,00,000
Rate of Interest (p.a.) Starting at 8.40% p.a.
Maximum Loan Tenure 30 Years

15 Lakh Home Loan EMI for 5 Years From SBI

Loan Amount 15 Lakh
Interest Rate (p.a.) 8.40% 
Loan Tenure 5 Years
EMI ₹30,703

15 Lakh Home Loan EMI for 10 Years From SBI 

If you have taken a home loan of ₹15 lakhs, with an interest rate of 8.45% per annum and for a tenure of 10 years, the equated monthly instalment (EMI) will be 

Loan Amount 15 Lakh
Interest Rate (p.a.) 8.40% 
Loan Tenure 10 Years
EMI ₹17,339

15 Lakh Home Loan EMI For 15 Years From SBI

Loan Amount 15 Lakh
Rate of Interest (p.a.) 8.40% 
Loan Tenure 15 Years
EMI ₹14,683

15 Lakh Home Loan EMI For 20 Years From SBI

The interest rate and EMI applicable on a 15 lakh home loan from SBI for 20 years is tabulated below:

Loan Amount 15 Lakh
Rate of Interest (p.a.) 8.40% 
Loan Tenure 20 Years
EMI ₹11,540

15 Lakh SBI Home Loan – Fees and Charges

The additional charges act as income for the bank. The below-given fees and charges are for a 15 lakh home loan from SBI. 

  1. Processing Fee: a 15 Lakh home loan from SBI garners a processing fee of 0.35% plus GST.
  2. GST: Applicants must pay 18% of GST on home loans as per the government guidelines.
  3. Other Fees: Some additional charges like stamp duty and verification charges are also imposed on SBI home loans. 

Documents Required For 15 Lakh Home Loan From SBI

Below are the essential documents for a 15 Lakh Home Loan from SBI.

  1. Loan Application Form: Application that you had filled out for the loan amount. 
  2. KYC Documents: Identity Proof and Residence Proof
  3. Property Documents: Letters of allotment, occupancy certificate, conveyance deed and other documents.
  4. Income Proofs: Statements of the salary slips for the previous three months/balance sheet & profit and loss account for the three years.
  5. Financial Details: Statements of all bank accounts belonging to the applicant during the last six months.

Eligibility Criteria For 5 Lakh SBI Home Loan

Although the eligibility criteria for home loans may differ from multiple lenders, certain criteria are similar. To avail of a 15 lakh home from SBI, applicants must fulfil the above:  

  • Eligible applicants include individuals who are salaried or self-employed. 
  • The minimum age requirement is 18 years, while the maximum age allowed is 70 years. 
  • Applicants must be residents of India.
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