SBI Home Loan for Women & Housewife

The State Bank of India (SBI) offers a wide range of financing options for all categories of applicants. Thus, the bank offers several appealing home loan products exclusively crafted for female applicants. These female-friendly loans typically come with features such as lower interest rates, longer tenure, moderate eligibility criteria, minimal documentation, and many more. Besides, securing an SBI home loan for women is a process that only takes approximately 10 minutes.

Read on to see what the SBI Home Loan interest rate female, its eligibility criteria, document requirements, fees and charges, available home loan products, and the exclusive benefits of SBI home loan for ladies. 

SBI Home Loan for Women – Highlights

Following are the key parameters you might be aware of regarding an SBI home loan for women:

Home Loan Benefits for Ladies SBI

Let’s take a look at the following benefits you can expect by availing an SBI home loan for female applicants:

• You will be eligible for a 0.05% (5 bps) reduction in the SBI home loan interest rate for female borrowers.
• You are not required to pay any processing fee.
• You can secure a loan amount of up to 90% of the property’s value.
• You can use the loan amount for any of your housing-related needs.
• You levy no hidden charges or prepayment penalty. 

SBI Home Loan for Women – Fees and Charges

Following are the fees and charges that you can expect as an SBI 10 lakh home loan borrower:

SBI Home Loan for Women – Documents Required

The following are the required documents for an SBI home loan for women applicants. 

• Proof of Identity: Aadhaar card, PAN card, passport, voter ID, or driving license.
• Proof of Address: Utility bills, passport, or driving licence.
• Proof of income: Salary slip, income tax return, bank statement, etc.
• Proof of Property: Title deed, sale agreement, approved plan, etc.

Some specific home loan schemes for women, such as SBI Her Ghar, may require additional documents, such as:

• Declaration of being the sole or first owner of the property
• Consent letter from the co-owner of the property
• Proof of relationship with the co-applicant or co-borrower

SBI Home Loan for Women – Eligibility Criteria

The following are the SBI home loan for women’s eligibility criteria:

• The applicant must be an Indian resident.
• The applicant must be a salaried or self-employed individual.
• The applicant must be aged between 18 and 70.
• The applicant must have a regular source of income.
• The applicant must have a minimum of 2 years of work experience
• The applicant must have a good credit score and repayment history.
• The property to be financed should either be in the sole name of the woman applicant, or she should be the first owner in case of joint ownership

Types of SBI Home Loans for Women

Let’s take a look at a list of the best SBI home loans for women:

• SBI Her Ghar Home Loan
• SBI Regular Home Loan
• SBI Yuva Home Loan
• SBI Max Gain Home Loan
• SBI Flexipay Home Loan
• SBI Shaurya Home Loan
• SBI Privilege Home Loan
• SBI Realty Home Loan
• SBI YONO Insta Home Top-Up Loan
• SBI Tribal Plus
• Pradhan Mantri Awas Yojana (PMAY)