SBI Home Loans

SBI Home Loans
(Product Review)

Updated January 2, 2023

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Product Review

State Bank of India established its Singapore office in 1977 and has been functioning with over 30 years of banking experience. SBI has been achieving the goals of Indian companies through its influence in 229 foreign offices across 31 countries.

SBI Singapore was given the status of Full Bank with QFB privileges in 2008. It has established a network of 5 branches, 19 SBI ATMs, and 200+ ATMs through the shared island ATM5 network. SBI serves individuals and corporate businesses with its retail and corporate bank plans.

SBI offers attractive mortgage loans with SORA-linked and fixed-rate products. In addition to that, its introductory home loan interest rates are accessible. However, its rates tend to increase after 1-3 years.

SBI Singapore will suit the needs of customers that are willing to refinance their loans and clients that want to refinance their mortgages because of the credit combination offered to them.

Mortgage Fees

SBI charges a few standard fees. These fees include partial repayment fees, full redemption penalties, and cancellation fees. The table below describes SBI’s fees by home loan type.

SBI HDB Home Loans

SBI also offers HDB loans with reasonable fixed and floating introductory interest rates. Although SBI rates tend to become high after a few years, clients interested in frequent refinancing should consider SBI services. Therefore, they are advised to compare the bank’s rate with its competitors before choosing a mortgage plan.

Bank 1st Year Interest Lock-in Period
SBI 3M SORA 1.93% 3 Years
SBI 3M SORA 1.93% 2 Years
SBI 1M SORA 1.96% 3 Years
SBI 3M SORA 2.03% 0
SBI 1M SORA 1.96% 2 Years
SBI Fixed 2.75% 2 Years
SBI 1M SORA 2.06% 0

Previously, SBI didn’t offer competitive interest loan rates for HDB units under construction. So, individuals interested in loans for BTO projects are advised to look at other lending services. Mortgage rates are subject to regular change, so compare SBI’s interest rates with other lenders before your final decision.
Currently, SBI has no BTO offerings.

Bank 1st Year Interest Lock-in Period
No offerings at this time

SBI Private Property Home Loans

Private home loans have more affordable fixed interest rates when compared to its floating rates. Study interest rates regularly to know the plan that fits your budget. On the table below, SBI’s updated private loan rates are displayed.

Bank 1st Year Interest Lock-in Period
SBI 3M SORA 1.93% 3 Years
SBI 3M SORA 1.93% 2 Years
SBI 1M SORA 1.96% 3 Years
SBI 3M SORA 2.03% 0
SBI 1M SORA 1.96% 2 Years

Generally, SBI doesn’t offer the cheapest loans for private buildings under construction. So, compare rates with mortgage providers to see the best option for you. Check SBI’s current loans rates for private building projects on the list below.

Bank 1st Year Interest Lock-in Period
SBI 3M SORA 1.93% 3 Years
SBI 1M SORA 1.96% 3 Years
Singapore’s 1st
Home Loan Marketplace
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  • Launch Application via the ROSHI Marketplace

    Once your application is live you will be able to review suitable loan options on your dashboard. One of our
    mortgage brokers will follow up with you to discuss the best available options and next steps.

  • Choose Suitable Mortgage Option

    After you’ve decided on a preferred mortgage option one of our mortgage brokers will help process your

  • Settle Fees & Charges

    Settle all fees (option fee, option exercise fee to the seller as well as the relevant buyer’s stamp duty fee in
    case you are purchasing a private property).

  • Appointment Date & Signing

    Attent your property purchase appointment date and sign all legal documents for the transfer of the property,
    paying all legal and valuation fees.


  • Regular Refinancing

    For Individuals willing to refinance their home loan every few years

  • Refinancing Current loans

    For mortgagers seeking to refinance their existing home loan

  • Low Interest Rates

    Borrowers seeking affordable total loan interest cost

  • Lower Loan Amount

    Individual with less than S$750,000 loans, looking for a stable interest rate


Loan Features
  • Attractive introductory rates
  • Minimum principal loan: S$250,000
  • Stable Interest Rate