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SBI Bank Loan Against Property
With SBI's "Loan against Property", you are able to utilize the value of your home or business to borrow money. For a variety of needs, including expanding your business, paying for school, or paying for medical bills you can use these. With the property acting as collateral, it offers various repayment choices and competitive interest rates. This is a dependable and practical solution to achieve your financial goals .Powered By
SBI Bank Loan Against Property
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Here are a few factors
| Location | PAN India |
| CIBIL Score | 675+ |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 18 Year to 75 Year |
| Loan Amount & Tenure | 10
Lac to No Limit (1 Year to 7 Year) |
| Login Fees | NIL |
| Rate of Interest & Type | 9.50% to 12% (Reducing) |
| TAT | 15 Days |
| Processing Fees | Upto 1% of Loan amount |
| Foreclosure Charges | NIL |
| Insurance | Property Insurance |
| Minimum Business Vintage | 2 year |
| Lock In Period | NIL |
| Part Payment Allowed | Yes |
| LTV | Upto 60% of Market Value |
| Product | BT+Top UP, Fresh Loan, Seller BT, LRD |
| Program | Income Program |
| FOIR | 1.
Salaried- 4-6 Time of gross annual Salary 2. Self Employed-4-5 time of average annual income of last 3 year |
| Cautious Profile | No Cautious Profile |
| Negative Profile | No Negative Profile |
| Funded Property | Residential
Property, Commercial Property, Industrial Property, Plot, School, Hospital, Hotel, Mall, Godown |
| Negative Property | Un-approved Property |
| Accepted Collateral | Other than negative property |
| Specific Property wise Funding Limit | No |
| Any Specific Product for Professionals | No |
| USP | No Negative Profile |
| Additional | Chain of property must be clear Property chain for last 30 year |
Required Documents for SBI Bank Loan Against Property
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The employer's identity card
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Filled out the loan application form with passport-sized photos attached.
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Any form of identity card, such as a driver's license, voter ID card, passport, PAN, etc.
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Proof cards for residential use, including copies of utility bills (electricity, phone, water, gas piped in), etc.
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Salary slip
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Three-month salary certificate
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Form 16
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Copy of IT return statement
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Balance sheet statement
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Profit and loss statement of last three years
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Licence copy
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Tax deduction details
About SBI Bank Loan Against Property Loan Against Property
One of the top private banks in India, SBI provides loans secured by your home or business property. With a loan secured by property from the SBI, applicants can get up to 60% of the property's worth. The SBI offers flexible repayment options and reasonable interest rates with customized lending options.
SBI Loan Against Property Customer Care Number
Toll-Free Number - 1800 11 2018
Eligibility Criteria
The applicant needs to be an Indian resident.
The SBI Loan Against Property scheme requires applicants to be at least 18 years old to submit an application.
75 is the maximum age that is allowed.
Clients may choose a term of up to 7 years.
Candidates must have all the paperwork needed to verify their identity and confirm their residency.
FREQUENTLY ASKED QUESTIONS
Commercial properties like stores and offices, as well as self-occupied residential properties, are regarded as collateral.
The maximum loan amount that you can receive will be decided by the lender based on your credibility.
You certainly can. To close your account, you must send a written request to the SBI branch that is closest to you. When paying in advance, there can be a little penalty that you must pay. That varies, though, according to the loan amount and interest rate.
It is possible to make partial payments, and there are no fees associated with the floating interest type.
You have three options for submitting an application: online, at a local SBI branch, or via the Refer Loan's portal.
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