SBI Home Top Up Loan

The State Bank of India offers existing home loan borrowers the SBI Home Top Up Loan, a supplemental loan facility that lets them access additional funds for a range of financial needs. It is secured against the existing property, providing a convenient financing solution.

Features and Benefits of SBI Home Top Up Loan

• Competitive interest rates
• Minimal processing fees
• Transparent pricing with no undisclosed charges
• No penalties for prepayment
• Interest calculated on a daily reducing balance
• A home loan is available as an overdraft
• The repayment period extended up to 30 years

SBI Home Top Up Loan Interest Rates 

SBI offers a range of interest rates for its Home Loan Top Up, with rates varying between 8.90% and 10.45% per annum. The specific interest rate for top-up loans is determined based on the credit scores of loan applicants. The detailed breakdown of interest rates for different CIBIL score ranges is as follows:

Term Loan Facility – Campaign Rates

• CIBIL Score 800 and above: 9.10%*
• CIBIL Score 750 – 799: 9.10%*
• CIBIL Score 700 – 749: 9.30%*
• CIBIL Score 650 – 699: 9.85%
• CIBIL Score 550 – 649: 10.15%
• CIBIL Score 151 – 200**: 9.30%*
• CIBIL Score 101 – 150**: 9.85%
• NTC/No CIBIL Score/-1: 9.30%

*Note: 20 bps concession over the proposed rates for Home Loan Balance Transfer and ready-to-move-in properties (for CIBIL Score of 700 and above)

**Score bands of 101-150 & 151-200 assigned by CIBIL for new-to-credit customers.

Card Rates

• CIBIL Score 750 and above: 9.55%
• CIBIL Score 700 – 749: 9.75%
• CIBIL Score 650 – 699: 9.85%
• CIBIL Score 550 – 649: 10.15%
• NTC/No CIBIL Score/-1: 9.75%

Overdraft Facility

• CIBIL Score 750 and above: 9.85%
• CIBIL Score 700 – 749: 10.05%
• CIBIL Score 650 – 699: 10.15%
• CIBIL Score 550 – 649: 10.45%
• NTC/No CIBIL Score/-1: 10.05%

*Note: Top Up Loan is not permitted in the overdraft category for loans above Rs 2 crore.

SBI Home Top Up Loan Fees and Charges

The processing fee for the loan is set at 0.35% of the loan amount, along with applicable Goods and Services Tax (GST). The minimum processing fee is Rs. 2,000/-, subject to GST, and the maximum processing fee is capped at Rs. 10,000/-, also inclusive of applicable GST. This fee structure ensures transparency, with borrowers being charged a percentage of the loan amount within specified minimum and maximum limits, facilitating clear understanding and adherence to processing charges.

SBI Home Top Up Loan Eligibility Criteria

• Eligible Residents: Resident Indians and NRIs
• Minimum Age Requirement: 18 years
• Maximum Age Limit: 70 years
• Loan Duration: Up to 30 years

SBI Home Top Up Loan Documents Required

• Employer Identity Card
• Completed loan application;
• 3 Passport size photographs
• Proof of identity (photocopies of Voters ID card/ Passport/ Driving license/ IT PAN card)
• Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill/Property tax receipt/ Passport/ or voter ID cards)
• Proof of business address for non-salaried individuals
• Statement of Bank Account/ Pass Book for the last six months
• Signature identification from present bankers
• Personal Assets and Liabilities statement

For guarantor (where applicable):

• Personal Assets and Liabilities Statement
• 2 passport size photographs
• Proof of identification as above
• Proof of residence as above
• Proof of business address as above
• Signature identification from present bankers

Additional documents required for salaried persons:

• Original Salary Certificate from employer
• TDS certificate on Form 16 or copy of IT returns for the last two financial years, duly acknowledged by IT Department.

Additional documents required for Professionals/self-employed/other IT assessees:

• Acknowledged copies of three years of I.T. returns/Assessment and assessment orders.
• Photocopies of challans evidencing payment of Advance Income Tax