I would like to tell you about the SBI NRI Home Loan Features and Benefits, Interest Rates, eligibility as well as Documents Required, as you want.



SBI NRI Home Loan Interest Rates (Floating)
Loan Amount Interest Rates
Upto Rs. 75.00 lacs 9.85 % p.a. – 9.90 % p.a.
Above Rs. 75.00 lacs 9.85 % p.a. – 9.90 % p.a.



SBI NRI Home Loan Features and Benefits
Hassle-free centralized processing with minimum turnaround time.

No administrative fees.

Complete transparency with no hidden costs.

Concessions on charges for personal remittances and outstation cheques.

Provision to add expected rent accruals, if the applicant proposes to let out house / flat.

Free personal accident insurance coverage.

Optional life cover from SBI Life with concessions on premium.

Attractive takeover options.

Provision to reduce EMI, when interest rates get reduced by 1%

Eligibility for higher loans, by clubbing spouse’s income.

No prepayment penalty if loan is closed after half the original tenor.

Unique opportunity to avail mortgage loans, student loans with minimum formalities on maintaining a good repayment record.

Complimentary International ATM cum Debit Card, International Credit Card (with waiver of joining and first year’s fees)

Complimentary E-Banking facility.

Dedicated network of NRI Branches,
Personal Banking Branches,
Special Housing Finance Branches,
Intensive Housing Finance Branches, and Home Loan Outbound Sales Force catering exclusively to Home Loans.

Eligibility Criteria for State Bank Housing Loan:
Minimum age of applicants should be 18 years.

Applicants should have Valid Indian Passport (for NRIs) / valid foreign passport (for People of Indian Origin – PIOs).

Applicants should have Steady source of income.

Applicants should have Employed abroad for at least 2 years.

Applicants should have Valid job contract or work permit.

Minimum Net Monthly Income (NMI) of US$ 500 or minimum Net Annual Income (NAI) of US$ 6000/- (or its equivalent in any other foreign currency).

Documents Required for SBI Nri Home Loan:
Completed Home Loan Application Form.

Applicants should have 2 passport size photographs.

Proof of Identity – Copy of first four pages of passport and page with visa stamp, or IC / PIO card.

Applicants should have Valid work permit.

Copy of the employment contract. An English translation of the contract duly attested by employer / consulate / SBIs foreign branches / offices, or Embassy in case the contract is available in any other language.

Applicants should have Last salary certificate / slip in original.

Copy of salary certificate duly attested by Indian Embassy / Consulate / SBI Branch / Exchange Companies abroad recognized by SBI.

Copy of identity card issued by the current employer / proof of income in case of self employed professionals / businessmen.

Applicants should have Brief profile of applicant and work establishment.

For purchase of flat- construction agreement, allotment letter, copy of approved plan, estimates-payment schedule, undertaking from the builder in Form B format as specified by the bank.

Applicants should have Copy of the Order permitting Land Conversion in case of conversion of agricultural land.

Applicants should have Copy of the land tax receipt / building tax receipt.

Applicants should have Copy of the Allotment letter of Housing Board / Builder / Co-op. Society.

Detailed Cost Estimate / Valuation Report from approved valuer in case of outright purchase of an existing house / flat.

Applicants should have Details of previous employment.

Bank account statement / passbook for the last six months.

Account statement / passbook of overseas bank showing salary and savings.

Applicants should have Proof of residence (driving license / utility bills).

Copy of Continuous Discharge Certificate (CDC) – for applicants employed in the merchant navy.

Applicants should have Sale Deed / Agreement for Sale.

Copy of approved building plans / approvals in respect of proposed construction/ purchase/ extension.

Applicants should have Original NOC under the Provisions of ULC Act.

For Purchase / construction of house-Original title deed, non-encumbrance certificate on the property for 13 years, possession certificate and land tax receipt.