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State Bank of India Loan Against Property Highlights |
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| Interest Rate | 10.00%-11.30% p.a. |
| Tenure | Up to 15 years |
| Processing Charges | 1% of loan amount (Max. Rs 50,000) |
Table of Contents
SBI Loan Against Property (LAP) Interest Rates
State Bank of India Loan Against Property interest rates range from 10% to 11.30% p.a. While SBI has not specified differential interest rates based on the tenure and credit score of its applicants, lenders may also consider these factors while evaluating their Loan Against Property interest rates.
Compare Interest Rates on Loan Against Property for Top Banks & HFCs
| Name of the Lender | Interest Rate (% p.a.) | |
| State Bank of India | 10.00-11.30 | |
| Bank of Baroda | 10.85-18.60 | Apply Now |
| PNB Housing Finance | 9.25-15.00 | Apply Now |
| IDFC First Bank | 9.00-16.50 | Apply Now |
| HDFC Bank Limited | 9.50-11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50-11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| ICICI Bank | 10.85-12.50 | Apply Now |
| Tata Capital | 9.00 onwards | Apply Now |
| Axis Bank | 10.50-10.95 | Apply Now |
| Punjab National Bank | 10.40-12.75 | Apply Now |
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Eligibility Criteria for SBI Loan Against Property
- Resident Indian
- Age: 18-70 year
- Minimum monthly income: Rs 25,000
- Applicant should be an employee, professional, self-employed, income tax assesse, NRI
In addition to the above-mentioned eligibility criteria, SBI may also consider the credit score, employer’s profile, etc. of its applicants while evaluating their Loan Against Property eligibility.
Documents Required for SBI Loan Against Property
Here is the list of loan against property documents required by State Bank of India for availing 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
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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