Apply for Loan Against Property
About State Bank of India Loan Against Property
Eligibility for State Bank of India Loan Against Property
People, workers, experts, self-employed, and others who are earnings tax analyzes whose net per month earnings are of Rs. 12,000/- for paid individuals or net yearly earnings of Rs. 1,50,000/- in the situation of others and self-employed.
Age Criteria: State Bank of India Loan Against Property
- Maximum age – 65 years.
- Loan Amount
Rs. 1.00 lac to Rs. 50.00 lac - Salaried Class – Maximum 36 times net monthly income.
- Others-Maximum three times the net annual income.
Loan:
Term loan or current account overdraft
Security: State Bank of India Loan Against Property
Reasonable mortgage of unencumbered personal house / flat or city professional or business residence in the name and ownership of the client, either self-obtained or unfilled residence. The rental out residence will be approved as security only where rental is on the market in giving preference to organization of good status and reputation. Power of lawyer authorizing the Bank to gather lease should be given.
Margin:State Bank of India Loan Against Property
50% of the market value of the security.
Period of Repayment
Repayable in 84 equated monthly installments.
State Bank of India Loan Against Property Interest Rate
1.25% of the mortgage amount (one time)
The property being mortgaged should be guaranteed against the chance of fire / earth quake / flooding etc.
Leading Loan Against Property Providers
- Axis Bank Loan Against Property
- HDFC Loan Against Property
- Private Loan Against Property
- citibank Loan Against Property
- Other Banks
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