Apply SBI Flexipay Home Loan

Published date: November 2, 2017
Modified date: November 7, 2017

SBI Flexipay Home Loan : Let your current income not stop you from owning your dream home.

SBI Flexipay Home loan provides an eligibility for a higher loan amount exclusively for the salaried borrowers. It offers customer the option to pay only interest during the moratorium (pre-EMI) period, and thereafter, pay moderated EMIs. The EMIs will be stepped-up during the subsequent years. This variant of SBI home loan is very useful for young earners. The SBI Flexipay home loan has the potential to lure a large section of home loan buyer towards SBI.

SBI Flexipay Home Loan Features

  •     Low Interest Rates
  •     Low Processing Fee
  •     No Hidden Charges
  •     No Pre Payment Penalty
  •     20% higher home loan eligibility
  •     Interest charges on Daily Reducing Balance
  •     Repayment up to 30 years
  •     Interest Concession for Women Borrowers

SBI Flexipay Home Loan Eligibility

  • Resident Type: Resident Indian
  • Minimum Age: 21 years
  • Maximum Age: 45 years, to apply for loan, and upto age of 70 years for repayment
  • Loan Tenure: up to 30 years.

SBI Flexipay Home Loan Interest Rates & Fees



Home Loan(Term Loan)*

Above Rs. 20 lakhs & Upto Rs. 30 lakhsAbove Rs. 30 lakhs & Upto Rs. 75 lakhsAbove Rs. 75 lakhs
8.35% p.a.8.35-8.40% p.a.8.45-8.50% p.a.
8.40% p.a.8.40-8.45% p.a.8.50-8.55% p.a.

*Interest rate will vary as per the risk score of the customer


  • Processing Fee*
    1. 0.35% of the loan amount.
    2. Minimum: Rs. 2,000/-
    3. Maximum: Rs. 10,000/-

*Plus applicable taxes

  • Pre-sanction**
    1. Advocate's fee for property search and title investigation report.
    2. Valuer's fee for valuation report.
  • Post-sanction**
    1. Stamp duty payable for Loan agreement & mortgage.
    2. Property insurance premium.
    3. CERSAI Registration Fee of Rs 50 + Service Tax up to Rs 5 Lakh limit and Rs 100 + Service Tax for limits above Rs 5 Lakh.

SBI Flexipay Home Loan Documents Required

List of papers/ documents applicable to all applicants:

  • Loan Application: Completed loan application form duly filled with 3 Passport size photographs
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
  • Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

Property Papers:

  • Permission for construction (where applicable)
  • Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, property tax receipt
  • Approved Plan copy (Xerox Blueprint) & Registered Development agreement of the builder, Conveyance Deed (For New Property)
  • Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

  • Bank A/c. Statement (Individual) of last six months
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Current Salary Slip or Salary Certificate
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Co-applicant/ Guarantor:

  • IT returns for last 3 years
  • Balance Sheet & Profit & loss A/c for last 3 years
  • Business License Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)

Processing Fee

Click here to view the Processing Fee

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