A top-up loan from State Bank of India to meet the financial needs of home loan borrowers

A special loan scheme to help home loan borrowers meet their personal needs or pare down their debts

State Bank of India Smart Home Loan Top-up Loan

This top-up loan helps borrowers get access to funds for meeting their personal needs. In addition to being used to meet financial expenses directly related to the house, this loan can also be used as a consolidation loan to pay off debts.

Features of SBI Smart Home Top-up Loan

Why this Loan?

  • The State Bank of India Smart Home Top-up Loan is meant for borrowers who need assistance to meet financial needs for personal needs such as child’s wedding expenses, education expenses, travel expenses, debt consolidation, etc.
  • No paperwork is required to avail this loan

Loan Amount

  • The maximum loan amount offered under this loan scheme is Rs. 5 lakh


  • The interest rate for this loan is defined as the sum of two factors: External Benchmark based Rate (EBR) and Spread
  • As of October 2020, the applicable interest rate to this loan ranges from 8.05% to 8.55%


  • This loan must be repaid within 20 years


  • The borrowers should have availed a home loan from SBI but not any other top-up loan scheme
  • The borrowers should have a CIBIL score of 550 or higher
  • Borrowers should have a satisfactory repayment track record of one year or more

Security Needed

  • The bank asks for an extension of charge on residential property funded by the SBI home loan under this scheme

Margin Money (Borrowers Contribution to Total Cost)

  • As of October 2020, this information is not mentioned on the bank’s website. Please talk to a bank representative before applying for this loan

Note: Margin money refers to the amount the borrower contributes to the overall amount required. The bank will cover the rest. So, if the total amount needed is Rs. 20 lakh, a 20% margin means you will have to contribute Rs. 4 lakh. The bank will provide the balance of Rs. 16 lakh.

Processing Charges

  • The bank charges a flat rate of Rs. 2,000 for processing this loan

Documents Needed for Individuals (Salaried and Self-employed)

  • Loan Application Form duly filled and signed by the applicant and co-applicant, if any
  • Two Passport Size Photographs of applicant and co-applicant
  • Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
  • Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
  • Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
  • Income/Banking Proof for Salaried Professionals: Last 3 months’ salary slip, Form 16 or income tax returns
  • Income/Banking Proof for Self-employed Professionals/Non Professionals: Computation of income of last 2 years, Balance Sheet, Profit and Loss Account, Registration Certificate, GST Return, Income Tax Challan / Form 26AS / TDS Certificate, IT Assessment, etc.

Reference Facts

  • State Bank of India Website: www.sbi.co.in and www.onlinesbi.com (net banking)
  • Headquarters: Mumbai, Maharashtra
  • Call Centre Toll-Free Number: 1800 11 2211, 1800 425 3800