Updated: 12-05-2022 11:31:09 AM
State Bank of India Loan Against Property Highlights 2022 | |
| Interest Rate | 8.40%-8.80% p.a. |
| Tenure | Up to 15 years |
| Processing Charges | Up to 1% (maximum Rs 50,000) |
Table of Contents
SBI Loan Against Property (P-LAP) Interest Rates
| Credit Score | Interest Rate (p.a.) |
| >=800 | 8.40% |
| 750-799 | 8.50% |
| 700-749 | 8.60% |
| 650-699 | 8.70% |
| 550-649 | 8.80% |
| NTC/NO CIBIL/-1 | 8.60% |
Compare LAP Interest Rates of SBI Bank vs Other Lenders
| Name of the Lender | Interest Rate (% p.a.) |
| State Bank of India | 8.40 – 8.80 |
| Bank of Baroda | 8.60 – 14.25 |
| PNB Housing Finance | 7.75-11.00 |
| IDFC First Bank | 6.50-14.00 |
| HDFC | 7.65-10.60 |
| L&T Housing Finance | 10.30-10.90 |
| LIC Housing Finance | 7.50-10.50 |
| Godrej Housing Finance | 7.99-10.99 |
| ICICI Bank | 7.85-9.50 |
| Tata Capital | 10.10 onwards |
| Bajaj Housing Finance | 8.00-9.05 |
| Axis Bank | 7.90-9.30 |
| Kotak Mahindra Bank | 9.50-11.70 |
Eligibility Criteria for SBI P-LAP
- Resident Indian
- Age: 18-70 years
Documents Required for SBI P-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
