SBI Reverse Mortgage Loan- Personal Loan of Senior Citizens

After a lifetime of working and raising families, you deserve a good retirement period

SBI Reverse Mortgage Loan provides an additional source of income for senior citizens of India, who have a self-acquired or self-occupied home in India. This product is beneficial for senior citizens who do not have adequate income to support themselves. The Bank makes payments to the borrower /borrowers (in case of living spouse), against mortgage of his / their residential house property. The borrower is not expected to service the loan during his lifetime.

  • Features
  • Eligibility
  • Interest Rates & Fees
  • Documents Required
  • Low Interest Rates
  • Low Processing Fees
  • No Hidden Charges
  • No Pre Payment Penalty
  • Resident Type: Resident Indian
  • Minimum Age: 60 years when single borrower. In case of joint borrowers, spouse’s age should be more than 58 years.
  • Loan Tenure : 10-15 years, depends on age of borrowers
  • Maximum Loan Limit:
    Rs. 2.00 crore – Property located within Municipal Corporation Areas of NCR, Mumbai, Pune, Chennai, Ahmedabad, Bengaluru and Hyderabad Centre
    Rs. 1.50 crores – At all Other Centres (except above Centres)


  • Processing Fee*
    1. 0.50% of the loan amount.
    2. Minimum: Rs. 2000/-
    3. Maximum: Rs. 20,000/-

*Plus applicable taxes

  • Post-sanction**
    1. Stamp duty payable for Loan agreement
    2. Property insurance premium.
    3. CERSAI Registration Fee of Rs 50 + GST up to Rs 5 Lakh limit and Rs 100 + GST for limits above Rs 5 Lakh.

** To be paid at actuals.

List of papers/ documents applicable to all applicants:

  • Loan Application: Completed loan application form duly filled in affixed 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

Property Papers:

  • Registered Sale deed and link documents for tracing of title
  • Occupancy Certificate (optional)
  • 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

Apply Now