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SBI Bank Loan Against Property - Quick Info
Property owners may release their equity without selling their property through SBI Loans Against Property. Among the many uses for the money are debt consolidation, company growth, and personal needs. Depending on the borrower's profile, loan amount, and term, SBI grants loans up to ₹7.5 crores with interest rates ranging from 9.5% to 11.0%. Ten-year loan terms let borrowers easily control their EMIs as they allow for. With liberal qualifying requirements and a high loan-to-value (LTV) ratio of up to 65%, SBI property against loan is meant to satisfy a broad spectrum of candidates.
| Loan Amount | Up to ₹7.5 Crores |
| Interest Rate | 9.5% - 11.0% |
| Loan Tenure | Up to 15 years |
| Loan-to-Value (LTV) Ratio | Up to 65% |
| Eligibility | Salaried, Self-employed, Business Owners |
| Property Type for Collateral | Residential or Commercial |
| Processing Fee | 0.5% - 1% of the loan amount |
| Prepayment/Foreclosure Charges | Nil for individuals |
| Purpose of Loan | Personal or Business Use |
| Income Requirements | Stable income proof required |
| Documents Required | ID proof, Income proof, Property documents |
| Loan Disbursal Time | 10 - 15 working days |
| Margin Requirement | Based on LTV |
| Application Process | Online and Offline |
| Legal and Valuation Charges | Applicable based on property valuation |
Key Features of SBI Loan Against Property
For those wishing to use the value of their property for different financial purposes, the Loan Against Property (LAP) provided by the State Bank of India has numerous interesting characteristics. The main characteristics of this loan are listed here:
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