Check ✔ Loan Against Property Interest Rates ✔ Processing Fee ✔ Tenure ✔ Loan Amount ✔ Prepayment Charges ✔ Eligibility ✔ Features ✔ Security ✔ LTV Ratio ✔ EMI / NMI Ratio ✔ Branch Address.
SBI LAP can be used for various purpose like funds meeting expenditure on education, marriage, healthcare and more, any personal purpose other than speculative purpose. A personal purpose loan against mortgage of your residential and/or select commercial property.
Table of Contents
Details of SBI Loan Against Property
SBI Loan Against Property Interest Rates
|Interest Rates||9.40% – 10.45%|
|Processing Fee||1% of the loan amount plus S.T, maximum of Rs. 50,000/- plus S.T|
|Loan Amount||Up to Rs. 7.5 crores|
|Loan Tenor||15 Years (*) Condition apply|
|Age Limit||Minimum 18 years and Maximum 70 years|
|One years MCLR||7.95|
Rate of Interest where more than 50% of NMI is coming from Salary Income
|Loan Amount||Interest Rate|
|Upto Rs. 1 Crore||1.45% + 1 yr MCLR i.e 8.40%|
|Above Rs. 1 crore & upto 2 crores||2.10% + 1 yr MCLR i.e 10.05%|
|Above Rs. 2 crores & upto Rs. 7.50 crores||2.50% + 1 yr MCLR i.e 10.45%|
Rate of interest where more than 50% of NMI is coming from Business/Profession or rental Income
|Loan Amount||Interest Rate|
|Upto Rs. 1 Crore||2.10% + 1 yr MCLR i.e 10.05%|
|Above Rs. 1 crore & upto 2 crores||2.60% + 1 yr MCLR i.e 10.55%|
|Above Rs. 2 crores & upto Rs. 7.50 crores||3.00% + 1 yr MCLR i.e 10.95%|
Eligibility For SBI Loan Against Property
- An Employee, a Professional, self-employed or an income tax assesses or NRIs (Who has residential property or commercial properties in his own name or in the name of spouse / children/parent/sibling).
- Net monthly income should be Rs. 25000/- (or Rs. 3 lacs p.a).
- EMI/NMI ratio – up to 60%
- LTV Ratio up to 65%
- SBI LAP should be liquidated before eldest borrower attain the age of 70 years.
Features of SBI Loan Against Property
- No prepayment penalties.
- Rental income in select cases also considered for loan eligibility.
- Interest rates are levied on a daily reducing balance method.
- Personal loan to individual owners of residential home/flat and select commercial properties.
- Access this loan from our wide network of branches.
- Loan Amount – Minimum: Rs.10 Lacs – Maximum Rs.7.5 crores. subject to location of property.
Security For SBI Loan Against Property
- Equitable mortgage of the property.
- In cases where the commercial properties are rented out on lease, equitable mortgage on the property will be created and assignment of rental receivable will be obtained. In addition a Tripartite Agreement / Irrevocable power of attorney is also required.
SBI LAP LTV Ratio (Loan to value)
|Loan Amount||LTV Ratio|
|Upto Rs. 1 crore||65%|
|Rs. 1 crores & upto Rs. 7.5 crores||60%|
Maximum permissible EMI/NMI (Easy monthly Installment/Net Monthly Income)are as below
|Net Annual Income||EMI/NMI Ratio|
|> Rs. 3 lacs<= Rs.5||50%|
|Rs. 1 crores & upto Rs. 7.5 crores||55%|
SBI Loan Against Property EMI Calculator
Below the pre-calculated emi at various loan amount at 9.40% rate of interest for 5, 10 and 15 years of tenure.
|Loan Amount||Interest rate||Monthly EMI For 5 Years||Monthly EMI For 10 Years||Monthly EMI For 15 Years|
Branch Address For SBI Loan Against Property
- Delhi- Dairy Firm, Ghazipur, New Delhi, Delhi 110096.
- Faridabad- Neelam Chowk, NIT, Faridabad, Haryana 121001.
- Gurgaon- Huda Market, SCO NO 45, Sector 31, Gurugram, Haryana 122001.
- Noida- H 4, Sector 11, Gautam Budh Nagar District, Noida, Uttar Pradesh 201301.
- Bangalore- 12th Cross, 7th Main Road, 3rd Block, Koramangala, Bengaluru, Karnataka 560034.
- Pune- RB Motilal Kennedy Rd, Shivajinagar, Pune, Maharashtra 411005.
- Mumbai- Maker Chambers 3, Jamnalal Bajaj Rd, Nariman Point, Mumbai, Maharashtra 400021.
- Chennai- No.E-159, 7th Avenue, Annai Velankanni Road, Ashtalaxmi Garden, Besant Nagar, Chennai, Tamil Nadu 600090.
- Hyderabad- Bank Street, Sultan Bazaar, Koti, Hyderabad, Telangana 500095.
- Warangal- Badrakali Housing Society Colony, Old Beet Bazaar, Warangal, Telangana 506002.
- Vijayawada- Kaleswarao Market Street, BRP Road, 1 Town, Kaleswara Rao Market, Tarapet, Vijayawada, Andhra Pradesh 520001.
- Vizag- Plot No. HIG-211/4, P.B. No-102, MVP Double Rd, Sector 4, MVP Colony, Visakhapatnam, Andhra Pradesh 530017.
- Cochin- Indira Gandhi Rd, Willingdon Island, Kochi, Kerala 682003.
- Kolkata- 12, BKB Sarani, Alipore Police Line, Alipore, Kolkata, West Bengal 700027.
- Bhubaneswar- J.N.Marg, Kharabela Nagar, Unit-3, Bhubaneswar, Odisha 751001.
- Surat- SNS Square, Vesu Main Road, Near Jolly Residency, Vesu, Surat, Gujarat 395007.
- Ahmedabad- Vejalpur Rd, Vibhavari Society, Jivraj Park, Ahmedabad, Gujarat 380051.
- Jaipur- 56 C, Madhyam Marg, Rajat Path, Mansarovar, Jaipur, Rajasthan 302020.
- Chandigarh- Panjab University, Sector 14, Chandigarh, 160014.
- Amritsar- SC No 5, District Shopping Center, Amritsar, B – Block, Ranjit Avenue, Amritsar, Punjab 143001.