SBI Loan Against Property

SBI bank has come up with all purpose loan against property. Be it your marriage, your child’s higher education or your any other dream, SBI loan against property will make everything possible. With attractive interest rates on loan and minimal processing fees, SBI has made it easier for the customers to use their own property for their own benefits. The interest rate of SBI bank loan against property ranges from 9.45% to 11% p.a. depending on the purpose and eligibility of the applicant.

SBI Loan Against Property Details

ParticularsDetails
Interest Rate10.00% - 11.55%
Loan amountUp to ₹ 7.5 Crores
Tenure5 Years to 15 Years
Processing Fees1% of the loan amount

Steps to apply for SBI LAP

  • Fill in the personal details
  • Fill in the professional details
  • Submit the property details
  • Deposit the form along with the KYC

SBI Loan Against Property Interest Rate

The loan against property of SBI bank has come up with wide range of interest rates from9.45% to 11% per annum and tenure up to 15 years is altogether a good combination.

Processing Fees

The processing fee of the SBI bank loan against property is maximum of 1% on the loan amount.

SBI LAP EMI Calculator

The EMI calculator is an easy way to know how much you need to pay each month against the loan amount. If you know the EMI in advance, things get a little practical on how you have to manage your finances. For a loan against the amount of ₹10,00,000 for 15 years at the interest rate of 9.45% p.a., the EMI comes out as ₹10,412. To know the EMIs for all the years, see the below given table.

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Table Showing EMI, Interest Outgo, and Total Repayment Amount

Loan AmountInterest RateTenureMonthly InstalmentTotal Interest AmountTotal Amount
₹ 10,00,0009.45%1₹ 87,660₹ 51,924₹ 10,51,924
₹ 10,00,0009.45%2₹ 45,891₹ 1,01,396₹ 11,01,396
₹ 10,00,0009.45%3₹ 32,010₹ 1,52,345₹ 11,52,345
₹ 10,00,0009.45%4₹ 25,099₹ 2,04,765₹ 12,04,765
₹ 10,00,0009.45%5₹ 20,977₹ 2,58,646₹ 12,58,646
₹ 10,00,0009.45%6₹ 18,250₹ 3,13,977₹ 13,13,977
₹ 10,00,0009.45%7₹ 16,318₹ 3,70,745₹ 13,70,745
₹ 10,00,0009.45%8₹ 14,885₹ 4,28,931₹ 14,28,931
₹ 10,00,0009.45%9₹ 13,783₹ 4,88,519₹ 14,88,519
₹ 10,00,0009.45%10₹ 12,912₹ 5,49,488₹ 15,49,488
₹ 10,00,0009.45%11₹ 12,211₹ 6,11,813₹ 16,11,813
₹ 10,00,0009.45%12₹ 11,635₹ 6,75,473₹ 16,75,473
₹ 10,00,0009.45%13₹ 11,157₹ 7,40,438₹ 17,40,438
₹ 10,00,0009.45%14₹ 10,754₹ 8,06,683₹ 18,06,683
₹ 10,00,0009.45%15₹ 10,412₹ 8,74,177₹ 18,74,177

EMI, Total Interest Outgo, Total Repayment (Interest + Principal)

YearPrincipalInterestBalance Amount
1₹ 31,799₹ 93,146₹ 9,68,200
2₹ 34,937₹ 90,007₹ 9,33,263
3₹ 38,386₹ 86,559₹ 8,94,877
4₹ 42,174₹ 82,770₹ 8,52,702
5₹ 46,337₹ 78,607₹ 8,06,364
6₹ 50,911₹ 74,034₹ 7,55,453
7₹ 55,936₹ 69,009₹ 6,99,516
8₹ 61,457₹ 63,488₹ 6,38,059
9₹ 67,523₹ 57,422₹ 5,70,535
10₹ 74,188₹ 50,757₹ 4,96,347
11₹ 81,510₹ 43,434₹ 4,14,836
12₹ 89,556₹ 35,389₹ 3,25,280
13₹ 98,395₹ 26,550₹ 2,26,885
14₹ 1,08,107₹ 16,838₹ 1,18,777
15₹ 1,18,859₹ 6167₹ 0
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SBI LAP Eligibility Criteria

The individuals as well as self-employed both can avail the benefits of SBI loan against property, please refer the below given list for the other eligibility criteria:

  • Individuals with monthly salary of ₹ 25,000/- or annual income is 3 lakhs per annum
  • Individuals who are self-employed
  • Individual who is engaged in agricultural and allied activities
  • Individuals with upto 70 years of age

Documents Required

  • Address Proof
  • Professional details
  • Property details
  • Identity proof

SBI LAP Application Form

You must fill in the below given details in the application form:

  • Personal details
  • Professional details
  • Property details

SBI Loan Against Property Benefits & Features

  • Interest rates are applicable on a monthly basis by way of reducing balance method
  • Loan amount ranges from 10 Lakhs to 7.5 Crores
  • No prepayment fees
  • Long repayment period of up to 15 years
  • Apply at your nearest SBI branch
  • Multi-purpose loan facility
  • 1% processing fee

Personal Loan Interest Rates August 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.25%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank10.99% - 14.49%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates August 2018
State Bank of India/SBI8.45% - 9.00%
HDFC8.70% - 9.40%
Bank of Baroda8.50% - 9.50%
LIC Housing8.45% - 8.90%
PNB Housing Finance8.99% - 10.75%
ICICI Bank8.55% - 8.80%
Axis Bank8.50% - 8.85%
Citibank8.85% - 9.65%
Indiabulls Housing Finance Limited8.70% - 9.85%
Kotak Bank8.65% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
EMI Calculator