State Bank of India home loan interest rate today

New loans from 7.50%. Only this "from" rate is given; the rate you get depends on your credit score and loan.

Source: sbi.bank.in · checked 18 Oct 2026 · from the official website

SBI's floating home loan rate follows the RBI repo rate through its EBLR (External Benchmark Lending Rate), so it moves when the RBI changes the repo rate.

EBLR rose to 8.15% + CRP + BSP from 15 Oct 2026 after the repo hike.

If you already have a loan with SBI, you can ask it in writing to move you to its current rate. It is a request, and the lender decides.

1. Visit your SBI home-loan centre (RACPC) or your branch with a written request to move your loan to the current EBLR card rate.
2. If your loan is still on the older MCLR or Base Rate, ask to be moved to EBLR at the same time.
3. Ask for a service request (SR) number and written confirmation of the one-time fee before paying.

These steps are what borrowers report; SBI's own site does not set them out. Ask your branch to confirm.

The fee: about ₹5,900 with GST on a ₹50 lakh loan (an estimate). A one-time service charge of about ₹5,000 plus GST is commonly quoted for moving an existing loan to the current rate. Confirm the figure with your home-loan centre (RACPC) before paying.

Source: mymoneymantra.com · checked 18 Oct 2026 · from a comparison site, not the official site

For loans sanctioned or renewed on or after 1 January 2026, no bank, NBFC or housing finance company may charge for part or full pre-payment of a floating-rate loan taken by an individual for non-business purposes, whatever the source of funds and with no lock-in. Older floating-rate home loans were already protected by RBI's 2012 and 2014 circulars (banks) and NHB directions (HFCs). Any charge not written in your sanction letter or Key Facts Statement cannot be levied.

• RBI rule on pre-payment charges
• All your RBI rights

Complain to SBI first and keep the reference number it gives you.

• SBI complaints page
• [email protected]

If there is no reply within 30 days, or the reply does not satisfy you, you can complain to the RBI Ombudsman for free within 90 days after that (or after the lender's last reply, if later): online at cms.rbi.org.in, by email to [email protected], or by post.

After SBI, the next step is the RBI Ombudsman. It is free and you do not need a lawyer.

• Punjab National Bankfrom 7.45%
• Bank of Barodafrom 7.40%
• Canara Bankfrom 7.40%
• Union Bank of Indiafrom 8.35%

Moving your loan to SBI from another lender: a processing fee of about ₹11,800 with GST on a ₹50 lakh loan, an estimate from policybazaar.com, not confirmed by SBI, plus stamp duty in some states.

Every lender's rate, and stamp duty by state

RBI repo rate:

the rate the Reserve Bank of India sets for lending to banks. Many home loan rates move with it.

EBLR:

External Benchmark Lending Rate: a bank rate that follows the RBI repo rate.

CRP:

credit risk premium: an extra margin based on your credit score.

BSP:

business strategy premium: a margin the bank adds on top.

MCLR:

an older kind of bank rate, set from the bank's own cost of money. It moves more slowly than a repo-linked rate.

Base Rate:

the kind of bank rate used before MCLR (before April 2016). It moves even more slowly.

RACPC:

SBI's home loan processing centre (Retail Assets Central Processing Centre).

SR number:

service request number: the reference the bank gives your request. Keep it.

GST:

Goods and Services Tax: 18% on bank fees.