SBI Home Finance was incorporated on November 11, 1987 as a private limited company. It was converted into a public limited company on May 23, 1988, and got its current name on April 11, 1991. It provides long-term finance for housing in India. 

SBI Home Finance has innovative and unique features when offering loans like the no cap on maximum loan amount for purchase/construction of house/flat, option to club income of spouse and children to compute eligible loan amount and free personal accident insurance cover and complimentary international ATM-debit card. For niche customers, products include SBI-Flexi home loans, designed to enable borrowers to hedge their home loan against unfavourable movement in interest rates and SBI-Freedom home loans, customized for high net worth individuals offering benefits like 100% project finance with property mortgage.

Business areas of the company:

The company provides long-term finance to individuals, corporate bodies, promoters and developers, housing boards, and others for housing purposes. Other activities include making short-term investments in units of UTI, central/state government securities, various schemes of SBI, LIC and GIC mutual funds; in treasury bills, CDs of IDBI and nationalized banks, and in commercial paper of rated companies.