How to apply for SBI Home Loan in 2022? Guaranty Approval

How to apply for SBI Home Loan – 101% Approval Investing in a house is probably one of the greatest investments one makes in his/her life.

With the present-day costs reaching the sky, this investment doesn’t become possible without first borrowing a home loan from a prestigious bank or organization. 

Over the past few years, a large number of lenders have embraced modern digital technology and the entire application process for a home loan has come to be an incredibly simple procedure.

However, the tricky part here is the approval of your home loan which is not quite as simple as it looks.

As mentioned earlier, a home loan is a significant investment and continues for a long period with the assurance that the borrower is going to repay the home loan on time and with specified interest. 

This is the sole reason why the State Bank of India features stringent screening systems for guaranteeing that they are sanctioning home loans to the right individual while also keeping in mind that he/she doesn’t feel loaded while repaying the home loan amount.

SBI Home loan documents required are minimal, interest rates are low, and one can complete their application with great convenience offered by the bank. 

In this article, we will read more about SBI home loans and tips on how to get 101% approval with great ease.


  • Home Loan outputs that make sure to fulfill everyone’s needs and preferences 
  • Low SBI Home Loan Processing Fee
  • Minimal interest rate
  • No hidden fee or extra charges 
  • No prepayment liability 
  • SBI Home Loan Interest certificate fees on reducing balance (daily)
  • The repayment term of as long as 30 years
  • SBI Home loan documents required are minimal 
  • Concession on Interest rates for female applicants
  • Easy to check your SBI Home Loan Status 
  • Offers SBI home loan balance transfer 

SBI Home Loan Eligibility

  • Citizenship of the applicant: Indian
  • Minimum Age Limit: 18 years
  • Maximum Age Limit: 70 years
  • Loan Repayment Term: up until 30 years

To check your SBI Home Loan status for eligibility and the amount of loan you can avail of, click here

Let’s now have a look at all the SBI home loan documents that the bank requires from the applicant. 

SBI Home Loan Documents Required

The following list of SBI home loan documents apply to all types of applicants:  

  • Copy of your Employer ID Card
  • Home Loan Application: Rightfully and duly filled SBI home loan application form and attached with three Passport-size pictures of the applicant
  • Proof of Identity of the Applicant: Passport/ PAN/ Voter Identity Card/ Driver’s License (Any One) 
  • Proof of Residence/ Address of the Applicant: Latest copy of Water Bill/ Electricity Bill/Telephone Bill/ Piped Gas Bill, or a copy of applicant’s Aadhar Card/ Passport/ Driving License (Any one)

Property Documents:

  • Authorization for construction of the property (wherever applicable)
  • Registered Sale Agreement (for applicants from Maharashtra only), Allotment Letter, or Stamped Agreement for Sale
  • Occupancy Certificate copy (in the cases of ready-to-move properties)
  • Share Certificate (for Maharashtra applicants only), Electricity Bill, Maintenance Bill, receipt of Property Tax 
  • Authorized Plan copy (Blueprint copy) and authorized Development Agreement from the builder, and for new properties, Conveyance Deed
  • Payment Receipt or/and bank account statement confirming all the contributions made to the property’s seller or builder 

Bank Account Statement:

  • Bank Account Statements of the applicant for all the Bank Accounts that he/she holds (for the last six months)
  • Loan account statement for the last year in case any prevailing former loan sanction by any other lender or bank

Income Proof (In the case of applicants, co-applicants, or guarantors who work on a salary basis) 

  • Salary Certificate or Slip of the last three months
  • Form 16 xerox for the last two years or xerox of Income Tax Returns for the last two fiscal years, accepted by the Income Tax Department 

Income Proof (In the case of non-salaried or self-employed applicants, co-applicants, or guarantors) 

  • Proof of Business address 
  • Income Tax Returns for the last three years
  • Balance Sheet, as well as Profit & Loss, account for the last three years
  • Details of Business License (or anything equivalent)
  • Form 16A TDS Certificate (if applicable)
  • Qualification Certificate of the applicant (for doctors, chartered accountants, or other specialists) 

Also read – Bank of Baroda Home loan

Causes of SBI Home Loan Status Rejection 

In case you go on to check your SBI home loan status and find it to be rejected, it can be highly disappointing.

Almost all the banks and other loan-lending organizations follow the same protocol to reject the home loan applications, however, it can be fair to say that the internal policies of all the organizations may vary, and hence, so do their rejection protocol.

The following are some reasons why your SBI home loan application got rejected:   

  • Insufficient SBI home loan CIBIL score
  • Uncertain modes of employment
  • Inadequate income
  • Laboring for a delisted private corporation
  • Not fulfilling the age criteria 
  • Residing in a location that is listed in the defaulter record
  • Inappropriate SBI home loan documents submitted 

SBI Home Loan Criteria for Rejection 

In case you wish to apply for an SBI home loan or an SBI home loan transfer, you will need to make sure that you rightfully go through all the points mentioned below that may lead to the rejection of your home loan application.

Keep in mind to have everything is up to the mark and 100% home loan approval is assured. 

  • Eligibility Criteria

As mentioned earlier, SBI features distinct eligibility criteria on home loan applications. Your eligibility and chances of approval are primarily dependent on a variety of factors such as the applicant’s age, income, kind of employment, the corporation he/she works for, work experience, and so on. In case the applicant’s record seems insufficient, the bank is likely to reject the home loan application. 

Also read – HDFC Home loan

  • Low SBI Home loan CIBIL Score

It would be fair to say that one of the most primary reasons why so many home loan applications get rejected is a low SBI home loan CIBIL score.

Nearly all banks work to pull out their home loan applicant’s CIBIL score ratings as soon as the application is received. 

Your SBI home loan CIBIL score is the total score rating based on how regular the individual has been in paying back his/her previous loan or/and credit card invoice.

The credit score has the most important role to play in your home loan application and in case it is too low, the bank will immediately dismiss your home loan application. 

That’s why we suggest that you first check your CIBIL score before you go ahead to fill your SBI home loan application form to avoid any further discrepancies. 

  • Delayed payment or/and disparities in the credit report

An individual’s credit report comprises the total record of his/her former loans, credit cards used by him/her, any delayed payments, and so on.

A term like ‘written’ or ‘settled’ in the report against a credit account will result in the rejection of the home loan application.

This reduces the individual’s home loan repayment ability in front of the bank’s eyes. 

Just like that, any disparities such as a different address or date/year of birth will also result in the dismissal of your home loan application.

Therefore, make sure to conduct such verification processes on your own in advance. 

  • Frequent changes in the applicant’s job 

In case an individual changes his/her job very frequently, for instance, every 6 or 12 months, then the applicant does not come off as a very reliable kind.

SBI may reject your home loan application on this ground as well. 

  • Not present in the lender’s list of authorized employers

An individual may be working for a firm that is not currently listed under the record of authorized employers by SBI.

In this case, the bank may not find your job to be secure enough, and hence, it may affect your home loan repayment ability. 

  • Low income 

The income of the applicant is one of the most crucial factors to consider for any bank or loan-lending organization as it is the sole source through which the borrower is going to repay the loan to the bank.

In case your monthly stipend is too low, the bank will not consider you appropriate enough for repaying the loan amount. 

  • Legal issue with your property 

Applicants will need to provide all the documents related to the property as it is going to act as the collateral for your SBI home loan.

In case the documents are inappropriate in any way, your home loan application will most likely be dismissed. 

Hence, it may be a good idea to verify the property documents before you go on to purchase them. 

  • High debt 

In case the applicant already has a certain amount of ongoing debt, this may affect his/her ability to take out more from his salary to repay the additional home loan.

In such cases, the bank may consider it appropriate to reject the home loan application. 

State Bank of India (SBI) Home Loan Processing Fee and Procedure

SBI home loan processing fee is currently charged at 0.40%. 

For the processing procedure, it may be safe to say that existing SBI customers are going to have an upper hand in getting a quick approval and verification process from the bank.

You will easily be able to fill your application form online and take advantage of the same pre-approved offers that the bank offers on their home loans along with amazing interest rates.

The amount of the home loan will be credited directly into the existing SBI account in an instant. 

For others who do not have a history of SBI, the procedure is going to be a bit different.

You will either need to fill the home loan application form online or submit it to your nearest SBI branch.

A bank agent is then going to collect your home loan application as well as the required SBI home loan documents.

After that, the bank will perform a verification process for your application and a background check on the applicant. In case of any discrepancies, the application will be instantly dismissed. 

Alternatively, in case everything goes right till now, your home loan application will reach its final stage and the bank will determine your interest rate and repayment term. 

Frequently Asked Questions (FAQs): State Bank of India (SBI) Home Loan 

Is there any kind of no-rejection home loan offered by the State Bank of India (SBI)?

A home loan is a substantial amount that the bank offers to the borrower given that the borrower fulfils the eligibility criteria and possesses the ability to repay the loan rightfully.

But in case the bank finds an issue with either of these, it can always reject the application. 

How can I get information about the State Bank of India (SBI) Home loan?

One can easily get information about SBI Home Loans on their official website or by heading to the nearest SBI branch.

You may also try reaching out to their customer care to learn more about SBI home loan documents, processing fees, eligibility criteria, details on SBI home loan transfer, or anything else. 

What is the SBI home loan processing fee? 

The current SBI home loan processing fee for home loans is 0.40%. 

What is the SBI home loan transfer processing period? 

In normal cases, your SBI home loan transfer will take up to 3-7 working days once you apply. 

How can I check my SBI home loan status? 

To check your SBI home loan status, you can simply reach out to the SBI home loan customer care. 

Why did my home loan application got rejected even after having a good SBI home loan CIBIL score and submitting all the necessary SBI home loan documents? 

Even if you have a decent CIBIL score and submit all the required SBI home loan documents, it may be possible that you do not fulfill some other eligibility requirement provided by the bank.

You can check some common reasons for the rejection of SBI home loan applications above. 

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