SBI Property Loan: Check Eligibility, interest rates, Documents and property loan with SBI.
Enjoy the SBI Advantage
- Complete transparency in operations
- Access this loan from our wide network of branches
- Interest rates are levied on a monthly/daily reducing balance method
- Lowest processing charges.
- Long repayment period of 60 months, upto 120 months for salaried individuals with check-off facility
- No Hidden costs or administrative charges.
- No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.
Property Loan Scheme
Avail of an All-Purpose loan against mortgage of any of your property. We offer you these loans at all our Personal Banking Branches and those branches having Personal Banking Divisions amongst others.
This is an all purpose loan, i.e., the loan can be obtained for any purpose whatsoever.If amount of loan is Rs.25.00 lacs and above then purpose of loan will have to be specified alongwith an undertaking that loan will not be used for any speculative purpose whatever including speculation on real estate and equity shares.
- A. An individual who is;
a. An Employee or
b. A Professional, self-employed or an income tax assesse or
c. Engaged in agricultural and allied activities.
- B. Your Net Monthly Income (salaried) is in excess of Rs.12,000/- or Net Annual Income (others) is in excess of Rs.1,50,000/-.
a.The income of the spouse may be added if he/she is a co-borrower or a guarantor
- C. Maximum age limit: 60 years.
Maximum : Rs.1 crore. The amount is decided by the following calculation:
- 24 times the net monthly income of salaried persons (Net of all deductions including TDS) OR
- 2 times the net annual income of others (income as per latest IT return less taxes payable)
Loan against Mortgage of Immovable Property
|Size of Credit Limit (Term Loan)||Rate of Interest|
|Upto Rs. 1,00,00,000/-||5.25% above Base Rate Floating, currently 13.50% p.a.|
|Above Rs. 1,00,00,000/-||5.50% above Base Rate Floating, currently 13.75% p.a.|
|*No Overdraft against Mortgage of Property|
Maximum of 60 equated monthly installments, up to 120 months for salaried individuals with check-off facility. You could opt to divert any surplus funds towards prepayment of the loan without attracting any penalty.
2% of the loan amount [inclusive of the service tax]. Max of Rs. 50,000/-
As per banks extant instructions.
For Apply and Know More About SBI Loan Products Click on links :-
|SBI Home Loan||SBI Property Loan||SBI Car Loan|
|SBI Personal Loan||SBI Educational Loan||SBI Loan to Pensioners|
|SBI Card||SBI Easy Travel Loan||SBI Festival Loans|
|SBI Teachers-Plus Scheme||Loan Against Shares/Debentures||SBI Loan For ESOPS|
Source: State Bank of India Website
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