About SBI Loan Against Property

Loan Against Property is a credit facility that is availed against the collateral security of a residential or commercial property to fulfill personal needs like healthcare, meeting education expenses, marriage expenses, and for business needs as well.

It can be simply described as a secured Personal Loan with a few differences. Loan Against Property has longer tenure, needs collateral, comes at a lower interest rate and processing fee. The documents are extensive and the time taken for approval may take longer than a Personal Loan.

If you are having an unencumbered property, Loan Against Property is a better option when in need of immediate funds.

There are many banks, non-banking financial companies (NBFCs), and other financial institutions that provide Loan Against Property. SBI is one of the leading banks in the Industry.

SBI  Loan against Property Interest Rate - Nov 2020

Interest rate


Loan tenure

15 Years

Lowest EMI

1,053 Per Lakh

Processing Charges

1% of loan sanctioned + Taxes

Who can apply?

Self-employed professionals

Salaried individuals

Indian residents

Cibil Score

650 and above


Min 18 and Max 70 years for Salaried & Self Employed

Why SBI Loan Against Property?

SBI Loan Against Property is an ALL PURPOSE LOAN. Be it education, business, marriage, healthcare, travel, or any other financial need, SBI Loan Against Property helps you meet all these expenditures easily. The loan can be availed by all - Salaried Employees, Professionals, and Self-employed individuals who are Indian residents or even non-resident Indian (NRI) and who own residential/ commercial property in their own name or in the name of their spouse/children/parent/sibling. You don't need to provide any documentary evidence for its end use.

Features and Benefits of SBI Loan Against Property

Here are some of the best features and attractive advantages of availing a Loan Against Property from SBI:

  • A huge network of branches across the country enables you to access this loan from anywhere in the country.
  • Personal Loan is available to individual owners of a residential house or flat and select commercial properties as well.
  • There is complete transparency in the operations
  • Competitive processing charges
  • Competitive interest rates charged on daily reducing balance method
  • Rental income is also considered on case to case basis to increase the eligibility
  • No pre-payment charges. Remit surplus funds towards the loan and enjoy the benefit of lowering the interest cost on the loan.
  • Flexible repayment tenure
  • No hidden charges

Key Highlights


Any personal as well as business financial need (except for any speculative purpose).

Nature of facility

Term Loan

Who can apply

Any salaried employee, professional, and self-employed with a  regular income source.

Quantum of loan

The minimum quantum of loan is 10 Lakhs and the maximum quantum is 7.50 Crores, subject to location of the property, the market value of the property, and income of the applicant.

Loan-to-Value (LTV) ratio

  • For loan up to 1 Crore: 65% of the cost of the property
  • For loan of 1 Crore up to 7.50 Crores: 60% of the cost of the property


Equitable Mortgage of the residential/commercial property

Repayment tenure

The minimum repayment period is 5 years and the maximum repayment period is 15 years. The loan should be liquidated before the borrower attains the age of 70 years.

Pre-payment charges


Interest Rates for SBI Loan Against Property

The interest rates for SBI Loan Against Property are linked to the bank's 1 year Marginal Cost of Funds Based Lending Rate (MCLR), which is 8.45% (as updated on 10.05.2019).

SBI Mortgage Loan Interest Rates
Check Your SBI LAP Eligibility

Income category

Loan Amount

Up to 1 Crore

Above 1 Crore and up to 2 Crores

Above 2 Crores and up to 7.50 Crores

For individuals who receive more than 50% of their Net monthly income (NMI) from Salary

1 year MCLR + 1.45% = 9.90%

1 year MCLR + 2.10% = 10.55%

1year MCLR + 2.50% = 10.95%

For individuals who receive more than 50% of their Net monthly income (NMI) from Business/ Profession/Rental

1 year MCLR + 2.10% = 10.55%

1 year MCLR + 2.60% = 11.05%

1 year MCLR + 3% = 11.45%

Processing Fee and Other Charges for SBI Loan Against Property

Processing fee:

  • For Loan Against Mortgage of Immovable Property: 1% of the loan amount (a maximum of 50,000) + GST
  • For Rent Plus: 2.02% of the loan amount (a maximum of 1,01,865) + GST

Penal interest

  • Penal interest for loans above 25,000, if the irregularity exceeds EMI amount for 1 month: 2% p.a. over & above the applicable interest rate on the amount overdue

Charges collected prior to sanction of loan:

  • Advocate fee for property Legal Scrutiny Report
  • Valuer's fee for property Valuation Report

Charges collected after sanction of loan:

  • Stamp duty for loan agreement and mortgage
  • Property insurance premium
  • CERSAI registration charges of 50 + GST for loan amount up to 5 Lakhs and 100 + GST for loan amount beyond 5 Lakhs.

Types of SBI Loan Against Property

SBI Loan Against Property is of the following two types:

Loan Against Mortgage of Immovable Property (LAP)


Any personal purpose like meeting education, marriage, healthcare, or any other expense other than speculative purpose. This loan cannot be used for business purposes.

Who can apply

Indian as well as NRI Employees, Professionals, and Self-employed Individuals who own residential property in their own or their spouse/children/parents/sibling's name.

Long repayment period

5 - 15 years

Maximum age limit

The loan must be repaid up to the age of 70 years

Minimum loan amount

10 Lakhs

Maximum loan amount

  • At Non-BPR urban areas: 1 Crore
  • Within the Municipal Corporation areas of Mumbai, Pune, NCR, Chennai, Ahmedabad, Bangalore & Hyderabad: 5 Crores
  • At other BPR areas: 2 Crores

Maximum LTV

  • 65% for loan up to 1 Crore
  • 60% for loan above 1 Crore and up to 5 Crores

Type of loan

Term loan

Rent Plus


Under this scheme one can avail loan against future rentals of their residential/ commercial property to meet their liquidity mismatch.

Who can apply

Residential building/ commercial property owners which are to be rented/ already rented to MNCs/ banks/ large and medium size corporate.

Long repayment period

Up to 10 years or remaining lease period, whichever is lower

Maximum age limit

The loan must be repaid up to the age of 70 years

Minimum loan amount


Maximum loan amount

  • 7.50 Crores in metros
  • 5 Crores in non-metro

Maximum LTV

  • 75% of property's realisable value or 75% of total rent receivable for the remaining lease period/ loan period, whichever is lower, excluding a total of advance deposit, estimated property tax, service tax, TDS & other statutory dues.

Type of loan

Term loan

Eligibility for SBI Loan Against Property

The eligibility criteria for SBI Loan Against Property is as mentioned below:

  • Salaried individuals, professionals, and self-employed individuals who are IT assesses are eligible for the loan. For Rent Plus scheme owners of residential building/ commercial property which are to be rented/ already rented to MNCs/ banks/ large and medium size corporate are eligible.
  • The loan can be by an Indian resident as well as NRI against self-owned property in their name or in the name of their spouse/children/parents/siblings.
  • Minimum net monthly income should be 25,000 (for salaried individuals) and minimum annual income of 3 Lakhs (for self-employed/professionals).
  • Regular income from all sources will be considered for arriving at the loan eligibility.
  • In addition to the applicant's income, the income of spouse/children/parents/siblings will also be considered for arriving at the eligible loan quantum. If the property is held in joint names, then all the joint holders will be co-borrowers for the loan. If the property is held in the name of the applicant and the loan availed jointly to increase the eligible amount, the spouse/children/parents/siblings can either be co-borrowers or guarantors.
  • The age of the borrower should be minimum of 18 years at the time of applying for the loan and up to 70 years at loan maturity.

Documents Required for SBI Loan Against Property

KYC Documents:

  • Employer ID card
  • Completely filled loan application with 3 recent passport size photographs
  • Identity proof (anyone): Passport/ PAN/ Driving License/ Voter's ID card
  • Residence proof (anyone): Copy of recent Telephone/Electricity/Water/ Piped Gas Bill or Passport/ Driving License/ Aadhaar Card

Account Statements:

  • Statements of all bank accounts of the applicant for the last 6 months
  • Loan account statement for the last 1 year if there is any previous loan from another lender

Income Proof - Salaried Applicant/ Co-applicant/ Guarantor:

  • Salary slip/ salary certificate for the last 3 months
  • Copy of last 2 years' Form 16/ IT acknowledged by IT Department

Income Proof - Non-Salaried Applicant/ Co-applicant/ Guarantor:

  • Proof of business address proof
  • ITfor the last 3 years
  • Balance Sheet and Profit & Loss Account for the last 3 years
  • Details of Business License (or equivalent)
  • TDS Certificate (Form 16A, if applicable)
  • Qualification certificate - for C.A./ Doctor, other professionals

Property Papers

  • Permission for construction (if required)
  • Registered Agreement for Sale (for Maharashtra only)/ Stamped Agreement for Sale/ Allotment Letter
  • Occupancy Certificate (for ready to move property)
  • Share Certificate (for Maharashtra only), Electricity Bill, Maintenance Bill, Property Tax Receipt
  • A copy of Approved Plan and Registered Development Agreement by the builder, Conveyance Deed (in case of new property)
  • Payment receipts/ bank account statements showing all the payments done to Builder/Seller

Other Products Offered by SBI

SBI also offers the following products apart from the Loan Against Property:

Products Offered by SBI

Xpress Credit Personal Loan


Loans to Pensioners

Home Loan to Non-Salaried

Insta Home Top Up Loan

Corporate Home Loan

NRI Home Loan

Realty Home Loan

Privilege Home Loan

Shaurya Home Loan

Pre-Approved Home Loan

Smart Home Top Up Loan

Home Top up Loan

Bridge Home Loan

Tribal Plus

Big Bang Home Carnival Loan

Flexipay Home Loan

Commercial Real Estate Home Loan

SBI Green Home Loans

Reverse Mortgage Loan

SBI Suraksha

SBI Max Gain

SBI Loyalty Car Loan Scheme

SBI New Car Loan Scheme

Certified Pre Owned Car Loan

SBI Car Loan Lite Scheme

SBI Assured Car Loan Scheme

SBI Two wheeler loan scheme

Super Bike Loan Scheme

Loan against shares

Education Loans

Gold Loans

SBI Loan Against Mutual Fund Units

SBI Loan Against Time Deposit

Loan Against Sovereign Gold Bond

Loan against SBI Dial Advantage Fund

Mudra Yojna

SME Loans

Fleet Finance Scheme

SBI Account Backed Loan

How to Use MyMoneyMantra EMI Calculator to Calculate SBI Loan Against Property EMI?

With MyMoneyMantra EMI Calculator, you can calculate your EMI for Loan Against Property at SBI or other lenders.

Calculate Mortgage Loan EMI in SBI

To use this tool, you have to open EMI Calculator given under Financial Tools section on MyMoneyMantra, enter the loan amount, tenure, and interest rate, and click on the Calculate button for an instant result.

SBI Loan Against Property - Customer Care

You can call SBI at their below-mentioned 24X7 toll-free helpline numbers

  • 1800 11 2211
  • 1800 425 3800
  • 080-26599990

Frequently Asked Questions

What are the types of properties eligible for a Loan Against Property at SBI?

You can avail a loan against residential as well as commercial properties.

What is the quantum of loan available under the SBI Loan Against Property?

The quantum of loan ranges from 5 Lakhs to 7.50 Crores depending upon the market value of the property and the income of the applicant.

What is the maximum loan to value (LTV) available?

The LTV ratio for loan up to 1 Crore is 65% and for loans above 1 Crore is 60%. The market value of the property is as per the Valuation Report given by the panel valuer of SBI.

What is the repayment tenure for Loan Against Property at SBI?

The entire loan should be repaid within 5 years to 15 years. Pre-payment and part-payment option is available with no charges.

What are the repayment options available for SBI Loan Against Property?

The following options are available for repayment of the SBI Loan Against Property:

  • Through Electronic Clearance Service (ECS)
  • By giving a Standing Instruction (SI) to debit the EMI from an account maintained with SBI
  • The loan repayment can also be done by Post Dated Cheques (PDCs)

Who is eligible for SBI Loan Against Property?

Salaried individuals, professionals, and self-employed individuals who are IT assesses are eligible for the loan. The loan can be availed by Resident Indians as well as NRIs against self-owned property in their name or in the name of their spouse/children/parents/siblings. The borrower should have a minimum net monthly income of 25,000 (if salaried) or minimum annual income of 3 Lakhs (if self-employed or professional). The age of the borrower should be between 18 years to 70 years.

What is the process of availing a Loan Against Property at SBI?

The process is as follows:

  • To begin with, decide the loan amount
  • Submit an application form duly filled along with the required KYC documents, income proof and documents relating to the property.
  • Legal Scrutiny of property documents and obtention of Legal Scrutiny Report from the panel advocate of SBI.
  • Valuation of the property by panel valuer of SBI
  • Interview with the banker
  • Sanctioning of the loan by the bank
  • Acceptance of the loan by you
  • Execution of loan documents
  • Disbursement of loan

Is tax deduction possible for a Loan Against Property?

No. Tax exemption is not available for Loan Against Property under the Indian Income Tax Act.

Personal Loan Against Property or Unsecured Personal Loan from SBI. Which is better?

Loan Against Property is a type of Secured Personal Loan. SBI has different terms and conditions for secured and unsecured personal loans.

If you are going for a short-term loan, then an Unsecured Personal Loan is better since it does not require collateral security and the processing of the loan is hassle-free and quick. It can also be a great option to create a credit history if you do not have one. However, if the amount involved is huge, it is better to avail Loan Against Property since the rate of interest is much lower compared to the rate of Unsecured Personal Loan. Also, with the flexible repayment option ranging from 5 years to 15 years, the EMI will be considerably low and affordable with Loan Against Property.

SBI Loan Against Property - Snippets

24.05.2019: SBI to hold a nationwide customer meet for addressing customer grievances

State Bank of India (SBI), country's largest lender, on Friday announced that it is organising a nationwide customer meet on 28th May to understand their customers' grievances and enhance services. The bank is looking to engage with more than 1 lakh customers under the initiative at over 500 locations through its 17 local head offices (LHOs).

22.05.2019: SBI shares hit a record high, more upside suggested by technicals

Shares of State Bank of India (SBI) rose by 5.3% to a record high of 359.15. Domestic shares hit a record high as counting began on Thursday morning. Early trends are indicating a major lead for National Democratic Alliance (NDA) of Prime Minister Narendra Modi.

20.05.2019: SBI ties up with the Art of Living's FMCG arm

The State Bank of India (SBI) has announced its strategic partnership with Sri Sri Tattva, the FMCG arm of The Art of Living, under which, YONO users can get a discount of 15% on the entire range of Sri Sri Tattva products such as food, personal care, home care, healthcare, BYOGI apparels, and Shankara skincare.

24.04.2019: SBI appoints 8 new DMDs & many other CGMs

State Bank of India (SBI), the bank that covers about a fourth of India's loan market, has appointed eight executives as DMD (Deputy Managing Directors) in one of the largest recent HR revamps. The bank will also identify about 15 executives who will be filling vacant positions as CGMs (Chief General Managers), three persons with direct knowledge of the matter.

Why Apply for SBI Loan Against Property Through MyMoneyMantra?

The Loan Against Property Scheme differs from bank to bank and each one of them has its own interest rate, repayment tenure, pre-payment charges, processing charges, and terms & conditions. To collect all the comparative information all yourself will be very difficult and time-consuming. MyMoneyMantra can help you through the whole process.

We have assembled information from a multitude of sources and put it on a single platform for you to compare and assess different products before taking the final call.

We also provide requisite information and guidance in respect of the following:

  • In determining the eligibility depending upon your income and repayment capacity
  • To choose the appropriate product by comparing different products
  • Highlight the processing fee of different banks which helps you to select the offer that gives the most significant benefit.
  • Will expedite the documentation process making the turnaround quick

We have information about a host of products from various banks and NBFCs and you will have a wide range to choose from.

Our experienced Mortgage Loan Specialists can:

  • Assess your profile and determine your eligibility
  • Analyse your repayment history and advise accordingly
  • Help you understand the fine print, with regard to terms and conditions, especially when the offer is seemingly attractive and tempting.

How to Apply for SBI Loan Against Property through MyMoneyMantra?

Follow the steps mentioned below to apply for SBI Loan Against Property through MyMoneyMantra:

  • Visit MyMoneyMantra
  • Click on Home Loan under Loans tab
  • Follow the instructions and enter all the required details
  • Enter the OTP on the given space to complete the process
  • Keep the documents prepared to be picked up by our loan representative and submitted to the SBI.
  • The bank representative will then conduct a personal interview with you and after complete verification your application will be approved in just a few days time.

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