SBI Loan Against Property

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State Bank of India Loan Against Property Highlights
Interest Rate	9.20%-10.50% p.a.
Tenure	Up to 15 years
Processing Charges	0.50% of the loan amount (Maximum Rs 25,000)

 

SBI Loan Against Property (LAP) Interest Rates

State Bank of India Loan Against Property interest rates range from 9.20% to 10.50% p.a. While SBI has not specified differential interest rates based on the tenure and credit score of its applicants, lenders may also consider these factors while evaluating their Loan Against Property interest rates.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	9.20-10.50	Apply Now
Bank of Baroda	10.85-18.35	Apply Now
PNB Housing Finance	9.25-15.00	Apply Now
IDFC First Bank	9.00-16.50	Apply Now
HDFC Bank Limited	9.50-11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50-11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
ICICI Bank	10.85-12.50	Apply Now
Tata Capital	9.00 onwards	Apply Now
Axis Bank	10.50-10.95	Apply Now
Punjab National Bank	10.15-14.00	Apply Now

Eligibility Criteria for SBI Loan Against Property

• Resident Indian
• Age: 18-70 years
• Applicant should be an employee, professional, self-employed, income tax assesse, NRI

In addition to the above-mentioned eligibility criteria, SBI may also consider the credit score, employer’s profile, etc. of its applicants while evaluating their Loan Against Property eligibility.

Documents Required for SBI Loan Against Property

Here is the list of loan against property documents required by State Bank of India for availing LAP:

• Employer ID card
• Duly filled application form
• ID proof: Aadhaar card/PAN card/driving license/passport/voter ID
• Residence/Address proof

Property Documents

• Construction permit
• Registered sale agreement (only for Maharashtra)/Stamped sale agreement/Allotment letter
• Occupancy certificate
• Share certificate (only Maharashtra)/electricity bill/maintenance bill/property tax receipt
• Bank account statements or payment receipt showing the payments made to the builder

Account Statement

• Bank account statement for past 6 months
• Loan repayment history for 1 year if any previous loans from other lenders

Income Proofs

For Salaried:

• Last 3 months’ salary slip/salary certificate
• Last 2 years’ Form 16/ITR

For Non-Salaried:

• Proof of Business proof
• Last 3 years’ ITR
• Details of Business license
• Balance sheet/profit and loss account statement for past 3 years
• TDS certificate