SBI Loan Against Property

State Bank of India Loan Against Property Highlights
Interest Rate	10.60%-11.30% p.a.
Tenure	Up to 15 years
Processing Charges	Flat Rs 10,000

SBI Loan Against Property (LAP) Interest Rates

Campaign Rates (Term Loan- valid up to 31st December 2023)

CIBIL Score	Interest Rate (p.a.)
>=800	10.60%
750-799	10.60%
700-749	10.80%
650-699	11.20%
550-649	11.30%
151-200	10.80%
101-150	11.20%
NTC/No CIBIL/-1	11.10%

Card Rates (Term Loan)

CIBIL Score	Interest Rate (p.a.)
>=800	10.90%
750-799	10.90%
700-749	11.10%
650-699	11.20%
550-649	11.30%
151-200	11.10%
101-150	11.20%
NTC/No CIBIL/-1	11.10%

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

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.60-11.30
Bank of Baroda	10.85-16.50
PNB Housing Finance	9.25-15.00
IDFC First Bank	9.00-16.50
HDFC Bank Limited	9.50-11.00
L&T Housing Finance	9.50 onwards
LIC Housing Finance	9.50-11.55
Godrej Housing Finance	9.75 onwards
ICICI Bank	10.85-12.50
Tata Capital	10.10 onwards
Bajaj Housing Finance	8.50-18.00
Axis Bank	10.50-10.95
Kotak Mahindra Bank	9.15 onwards

Eligibility Criteria for SBI Loan Against Property

• Resident Indian
• Age: 18-70 year
• Minimum monthly income: Rs 25,000
• 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

Also Check – CIBIL Score for SBI Loans

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