Loan Against Property SBI
Loan Against Property SBI
SBI Bank is one of the most preferred Banking partners by customers. SBI provides various loan products one of them is SBI Loan Against Property facility

Loan Against Property SBI

SBI Bank is one of the most preferred  Banking  partners  by  customers.  SBI provides  various loan products one of them is SBI Loan Against Property facility – it allows you to avail loan against property upon pledging security & get up to 70% of property value to fulfill your personal needs. No matter whether it’s a residential or commercial  property.  Generally, the SBI interest rate on residential property is lower than commercial property.  

SBI LAP products have been categorized into specialization named as Loan Against Mortgage on Immovable Property, State Bank Rent Plus, Loan Against Residential Property, Loan Against Commercial Property, Balance Transfer & Top-up facility. 

Loan Against Property Features & benefits  


  • 100% transparency in operations 
  • Lowest processing fee on loan 
  • Zero prepayment penalties 
  • Continuous ownership of property 
  • No hidden charges 


  • Get loan up to 5 Crores 
  • Flexible tenure up to 15 years 
  • Under this facility personal loan provided to residential home/flat & selected commercial properties owners 
  • Transfer your existing loan with SBI Bank to lower EMIs 
  • In selected cases rental income also considered for loan eligibility 
  • It allows you to access loan from wide network of branches 

 Also Apply:-Loan Against Property SBI

Types of SBI Loan Against Property 

Loan Against Mortgage on Immovable Property: –  

SBI provides loan against mortgage on immovable property facility at competitive rates, loan amount ranging from 10 lakhs to 5 Crore.  

This type of loan is obtained for fulfilling personal financial needs such as medical emergency, dream wedding, higher education, vocational travel & similar expenses are covered. 

State Bank Rent Plus: – 

State Bank rent plus is provided for property owners who are expecting rental income from their property. This type of loan can be availed of fulfilling personal as well as business needs. 

State Bank rent plus maximum loan amount depends on the location of property for example if a property is in metro cities you can expect loan amount up to 7.5 Crores if the property is in non-metro cities, then the loan offered up to 5 Crores.  

Loan Against Residential Property: – 

If you have a residential property in your own name/spouse/parent’s name then most probably you will get the opportunity to finance it. SBI offers customized loan against residential property for salaried & self-employed.  

It’s a secured loan availed against residential property which is kept as a collateral with the lender. Under this facility borrowers can avail loan ranging between 10 Lakhs to 7.5 Crores at affordable rates. 

Loan Against Commercial Property: –  

Loan against commercial property can help you to manage business requirements. Bank sanction 70% – 90% of property market value. Through this fund you can cover expenses to business setup & business expansion. 

Balance Transfer Existing Loan Against Property: –  

Do you feel paying higher EMI’s & want to lower it? Balance transfer is an ideal solution for you. This type of facility allows borrowers to balance transfer existing loan against property of another Bank to SBI Bank to lower EMIs. 

Top-up facility on Existing Loan Against Property: –  

If you are facing a shortage of funds? You can avail top-up facility on your existing loan against property to fulfill your personal as well as business financial needs. Often, opting for top-up facility levied nominal interest rates. The entire process will take less time with minimal documentation. 

 Also Read:-Supplier credit and Buyers credit

SBI Loan Against Property Interest Rate & Details 2021

SBI Interest Rate8.45% – 13.00%
Processing Fee1 % on Loan Amount + GST
Age LimitMinimum 18 & Maximum 70 years 
Loan TenureUpto 15 Years
Loan Amount10 Lakhs to 7.5 Crores 

EMI/NMI Ratio: – 

Net Annual IncomeEMI/NMI ratio 
> Rs. 3 lacs<= Rs.5 50%
> Rs. 5 lacs <= Rs.10 lacs 55%
> Rs.10 lacs 60%

Compare SBI Loan Against Property Interest Rates with Top Banks 

Bank Name Interest Rate 
HDFC Loan Against Property7.25% Onwards 
SBI Bank8.45% Onwards 
Axis Bank 7.50% Onwards 
IDFC First Bank 7.50% Onwards 
ICICI Bank 8.50% Onwards 
Yes Bank 8.00% Onwards 
PNB Bank 9.00% Onwards 
Kotak Mahindra Bank 7.25% Onwards 

SBI Other charges 

  • Processing Fee: – 1% on loan amount + GST charges applicable 
  • Pre closure charges/Pre-payment: Nil 
  • Late payment charges:  up to 24% 
  • Bounced Cheque dishonour charges: Rs 250 for each 

SBI Loan Against Property Eligibility 

To avail SBI LAP, borrowers must meet the eligibility criteria at the time of application. 

  • Applicant should be resident of India/ NRI non-resident of Indians 
  • Applicant age needs to be between 18 – 70 years 
  • Salaried/Self Employed Professional/Self Employed Non-Professional are eligible to apply 
  • Minimum net monthly income should not lower than Rs.25,000 
  • For Salaried minimum work experience – 5 Years & for business should have minimum 3 years of continuity 
  • Applicant credit score must be above 700 

 Also Read:-Used Car Loan Interest Rate 12.00% Onwards

SBI Loan Against Property documents  

If, your eligibility meets for HDFC loan against property then you have to submit some required documents to continue the further process: 

  • Proof of Identity(Any of the following) 
  • Duly filled application form  
  • 2 passport sized photographs 

For Salaried individuals 

1.Proof of Residence: Any one of the following documents you can attach as a proof of residence 

  • Ration Card 
  • Telephone Bill 
  • Electricity Bill 
  • Voter ID Card 
  • Aadhar card 

2.Proof of Identity: Any one of the following documents will be accepted as an identity proof- 

  • Voter’s Card 
  • Driver’s License 
  • Aadhar Card 
  • Pan Card 
  • Voter ID Card 

3.Legal documents of the property which you want to use as a security 4.Last 6 monthsBank statement passbook 5.Salary slip of last 6 months6.Income proof

For Self-employed individuals 

1.Proof of Residence: Any one of the following documents you can attach as a proof of residence 

  • Ration Card 
  • Telephone Bill 
  • Electricity Bill 
  • Voter ID Card 
  • Aadhar card 

2.Proof of Identity: Any one of the following documents will be accepted as an identity proof- 

  • Voter’s Card 
  • Driver’s License 
  • Aadhar Card 
  • Pan Card 
  • Voter ID Card 

3.Legal documents of the property which you want to use as a security 4.Certified financial statement of last 3 year5.LatestBank Statement or Passbook 6.Audited financial sheet, certificate of practice, Sales Tax Certificate, etc

How to Apply for SBI Loan Against Property? 

  • Borrower can get SBI loan against property online or offline they just need to follow up these simple steps to get a loan: – 
  • Open the “tab” and visited the official website of HDFC or if you want to apply offline you need to visited the neatest branch of SBI. 
  • Click on “Loan against property” and fill-up the form and carefully read all the terms and conditions. 
  • After completing this process, you will get an OTP on your registered mobile number.  
  • For processing further, you need to fil your loan amount and attach your documents.
  • If your all information and documents is correct then SBI Bank officer will call you or you received the confirmation letter through email.
  • After sone time your loan amount will be credited in your account

SBI Loan Against Property FAQs

Which Bank is best for Loan Against Property? 

Almost all Banks provide this credit facility for the public. If, you want to get a loan against a property at an attractive rate of interest with flexible repayment then go with SBI Bank it is one of the main Banks in India, allows you to collateral your property. 

How to get SBI Loan Against Property without income proof? 

You don’t have income proof and want to get a SBI Bank loan against a property without income proof then maintain a high cibil around 750 and should have a good credit history or you can apply with a co- applicant or guarantor. 

 How to use SBI Loan Against Property Emi calculator? 

SBI Bank provides the facility of EMI calculator you just need to visit the website of SBI Bank where you will find the option of EMI calculator simply “click” and fill the Loan amount, rate of interest, loan tenure waits a few minutes, and get your EMI amount instantly. 

What is the loan I can get from SBI Loan Against Property? 

You can get up to 60% value of the property as the loan amount. 

Why should I consider SBI for Loan Against Property? 

SBI Banks provides some facility on loan such as high loan amount, low-interest rate, high tenure, best customer services, less documentation and so on. 

SBI Loan Against Property Customer Care number 

For the queries and complaints regarding the loan, the Bank has offered 24/7 customer service. Customers can contact with SBI Loan Against Property Loan Customer Care through following ways:  

Call us

Toll free number: 1800 1234
Toll free number: 1800 11 2211
Toll free number: 1800 425 3800
Toll number: 080-26599990

E-mail us at: