State Bank of India Loan Against Property Highlights | |
| Interest Rate | 10.35%-11.05% p.a. |
| Tenure | Up to 15 years |
| Processing Charges | Flat Rs 1,000 (during festive campaign between 4th Oct 2022 to 31st Jan 2023) |
Note: Rates as of 19th January 2023
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Table of Contents
SBI Loan Against Property (LAP) Interest Rates
Rates during Festive Campaign- Term Loan
| CIBIL Score | Interest Rate (p.a.) |
| >=800 | 10.65% |
| 750-799 | 10.75% |
| 700-749 | 10.85% |
| 650-699 | 10.95% |
| 550-649 | 11.05% |
| NTC/No CIBIL/-1 | 10.85% |
Card Rates (Term Loan)
| Credit Score | Interest Rate (p.a.) |
| >=800 | 10.35% |
| 750-799 | 10.45% |
| 700-749 | 10.55% |
| 650-699 | 10.95% |
| 550-649 | 11.05% |
| NTC/No CIBIL/-1 | 10.85% |
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Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) |
| State Bank of India | 10.35-11.05 |
| Bank of Baroda | 10.55-16.20 |
| PNB Housing Finance | 9.65-13.00 |
| IDFC First Bank | 8.75-16.25 |
| HDFC | 9.35-12.25 |
| L&T Housing Finance | 9.60 onwards |
| LIC Housing Finance | 9.10-12.25 |
| Godrej Housing Finance | 9.75-14.50 |
| ICICI Bank | 9.75-10.90 |
| Tata Capital | 9.85 onwards |
| Bajaj Housing Finance | 9.85-10.80 |
| Axis Bank | 9.90-10.35 |
| Kotak Mahindra Bank | 9.15 onwards |
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Eligibility Criteria for SBI LAP
- Resident Indian
- Age: 18-70 years
Check Also:- Loan Against Property Eligibility Criteria
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Documents Required for SBI 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