75 Lakh SBI Home Loan

Many people need a home loan to buy or build a house nowadays. Thus, numerous lenders are vying to proffer home loans with attractive features, which makes securing a home loan easier than ever before. However, finding a loan with lower interest rates can still be a daunting task. This is where the SBI 75 lakh home loan plays a pivotal role, as it offers a range of home loans with interest rates starting at just 8.40% p.a. This is in fact among the best in the market, allowing you to save thousands of your hard-earned money in the long run. 

To help you achieve your homeownership aspirations as soon as possible, Urban Money provides a detailed overview of this cost-effective financing option. In this article, we will cover topics such as the SBI home loan interest rate for 75 lakhs, its eligibility criteria, document requirements, and other relevant fees and charges. We will also show you how much you can save on your monthly repayments by choosing different tenures, such as 10  and 20-year tenure. 

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Table of Content

1. 75 Lakh Home Loan SBI Highlights

2. SBI 75 Lakh Home Loan EMI for 10 years

3. 75 Lakh SBI Home Loan EMI for 20 years

4. 75 Lakh SBI Home Loan Fees and Charges

5. 75 Lakh SBI Home Loan Documents Required

6. 75 Lakh SBI Home Loan Eligibility Criteria

Read more
Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
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.

75 Lakh Home Loan SBI – Highlights

Here are the key parameters of the SBI 75 lakh home loan:

Interest Rates 8.40% onwards
Processing Fees 0.25% of the loan amount 
Loan Amount Up to 90% of the property value.
Loan Tenure Maximum 30 years (or) up to the age of 70 years of the borrower, whichever is early. 
Eligibility Salaried or self-employed individuals, including NRIs, with a regular source of income.

SBI 75 Lakh Home Loan EMI for 10 years

Following are the data regards 75 lakh home loan EMI SBI for a 10-year loan tenure:

Loan Amount Interest Rate Loan Tenure EMI Total Interest Payable Total Payment
Rs 75,00,000 8.40% p.a. 10 years Rs 92,589 Rs 36,10,635 Rs 1,11,10,635

75 Lakh SBI Home Loan EMI for 20 years

Following are the data regards 75 lakh home loan EMI for 20 years SBI:

Loan Amount Interest Rate Loan Tenure EMI Total Interest Payable Total Payment
Rs 75,00,000 8.40% p.a. 20 years Rs 64,613 Rs 80,07,081 Rs 1,55,07,081

75 Lakh SBI Home Loan – Fees and Charges

Let’s take a look at the fees and charges that you can expect as an SBI 75 lakh home loan borrower:

Fee/Charge Amount
Processing Fee Up to 0.25% of the loan amount, plus applicable taxes. 
Prepayment Charges Nil (for both fixed and Floating rate of interest)
Late Payment Charges Rs. 500 + GST 
Cheque Bounce Charges Rs. 225 + GST 
Cheque Swap Charges Rs. 225 + GST 
Duplicate Statement Issuance Charges Rs. 100 + GST.
Duplicate Amortisation Schedule Issuance Charges Rs. 200 + GST.
Duplicate Interest Certificate Issuance Charges Rs. 100 + GST.
Loan Conversion Charges/Switching Fee 0.50% of the outstanding loan amount + GST
Legal Fee As per actuals
Valuation Fee As per actuals

75 Lakh SBI Home Loan – Documents Required

Here are the required documents for a SBI 75 lakh home loan:

  • Proof of Identity: PAN Card, Passport, Voter ID or Driving License.
  • Proof of Address: Recent copy of Utility Bills, Passport, Driving License or Aadhaar Card.
  • Proof of Income: Salaried applicants must submit their salary slips for the last 3 months, bank statements for the last 6 months showing salary credits, and the latest form 16 or IT returns. Whereas self-employed applicants must submit their business address proof and licence details, balance sheet and profit and loss account for the last 3 years, TDS certificate, IT returns for the last 3 years, and bank statements for the last 6 months. 
  • Proof of Property: Allotment letter or buyer’s agreement, receipt of payment made to the developer, NOC from the builder or society, property tax receipts, approved plan, and builder’s registration certificate.

75 Lakh SBI Home Loan – Eligibility Criteria

Following are the criteria for 75 lakh home loan eligibility SBI:

  • Your age must be between 18 to 70 years.
  • You must be salaried or self-employed individuals.
  • You must have a regular source of income to cover the repayment.
  • You must have a good credit score and repayment history.
  • You must be a resident of India or a Non-Resident Indian.
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