Loan Against Property Sbi

Benefits of the SBI Advantage Loan Against Property:

  • Complete transparency in process of Porperty loan
  • Lowest & minimum Interest rates reduce per month emi burden.
  • Lowest processing charges of 1.00% of loan amount.
  • Longer repayment period of 5 years to 10 years for salaried class
  • 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.
  • Availability of an loan against Property. SBI offer you these loans at all Personal Banking Branches and those branches having Personal Banking Divisions amongst others.

Apply for Best Loan Against Property in Sbi

Professional Details
Loan Amount:
Annual Income:
Banks Interest Rates Processing fees
9.50% to 10.50% Maximum of 1% of loan amount
10.35% - 11.05% Flat Rs. 10,000/- plus applicable GST
9.75% - 10.90% 1.00 % + AT*
Axis Bank
9.90% - 10.35% 1% or Rs 10,000 (whichever is higher)

SBI property loan details Interest Rates 2024

Interest rates 10.35% - 11.05%
Processing fees Flat Rs. 10,000/- plus applicable GST
Prepayment charges Nil
Repayment options Upto 10 years
Maximum loan amount Rs.1 Crore
Loan Margin 60%
Min. Income Rs.12000 per month

Eligibility: You are eligible for State Bank of India Property loan if:

you are an Employee, Professional, Eelf-employed or an income tax assesse or Engaged in agricultural and allied activities.

Minimum net monthly income of Rs. 25000/- (or Rs. 3 lacs per annum)

Processing Fees - 1% of the loan amount plus service tax, maximum of Rs. 50,000/- plus Service Tax

Loan Amount

Borrowers can avail upto Rs.25000 minimum loan amount under loan against property scheme.

Maximum loan amount which is Rs.1 crore.

  • 2 times the net annual income of others (income as per latest IT return less taxes payable)
  • 24 times the net monthly income of salaried persons (Net of all deductions including TDS)

Documents Required for SBI Property Loan

List of papers/ documents applicable to all applicants:

  • Employer Identity Card
  • 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 License/ Aadhar Card

Property Papers:

  • Permission for construction (where applicable)
  • Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale
  • Occupancy Certificate (in case of ready to move property)
  • 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 (For New Property)
  • Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Account Statement:

  • Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
  • If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary Slip or Salary Certificate of last 3 months
  • Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

  • Business address proof
  • IT returns for last 3 years
  • Balance Sheet & Profit & Loss A/c for last 3 years
  • Business License Details(or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Certificate of qualification (for C.A./ Doctor and other professionals)