State Bank of India provides Personal Loan Against Property (P-LAP) starting from 10% per annum for tenures of up to 15 years. This loan is specifically intended for personal needs and cannot be used for business purposes.
| State Bank of India Loan Against Property Highlights | |
|---|---|
| Interest Rate | 10.00%-11.30% p.a. |
| Processing Fees | Flat Rs 10,000 |
| Tenure | Up to 15 years |
| CIBIL Score | Interest Rates (p.a.) |
|---|---|
| NTC/No CIBIL/-1 | 11.10% |
| 101-150 | 11.20% |
| 151-200 | 11.10% |
| 550-649 | 11.30% |
| 650-699 | 11.20% |
| 700-749 | 10.10% |
| 750-799 | 10.00% |
| >=800 | 10.00% |
| CIBIL Score | Interest Rates (p.a.) |
|---|---|
| NTC/No CIBIL/-1 | 11.10% |
| 101-150 | 11.20% |
| 151-200 | 11.10% |
| 550-649 | 11.30% |
| 650-699 | 11.20% |
| 700-749 | 11.10% |
| 750-799 | 10.90% |
| >=800 | 10.90% |
While SBI does not specify different interest rates based on tenure and credit score, other lenders may consider these factors when determining their Loan Against Property interest rates.
Also read: Best Loan Against Property Interest Rate
| Name of the Lender | Interest Rate (% p.a.) | |
|---|---|---|
| State Bank of India | 10.00 - 11.30 | Apply Now |
| Axis Bank | 10.50 - 10.95 | Apply Now |
| Bank of Baroda | 10.85 - 16.50 | Apply Now |
| ICICI Bank | 10.85 - 12.50 | Apply Now |
| Standard Chartered Bank | Starts from 9.25% | Apply Now |
| HSBC Bank | 9.75 - 14.00 | Apply Now |
| Union Bank of India | 10.45% - 13.10% p.a. | 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 |
| Indiabulls Finance | 9.75% p.a. onwards | Apply Now |
| Tata Capital | 10.10 onwards | Apply Now |
| Bajaj Housing Finance | 9.75 - 18.00 | Apply Now |
| Punjab National Bank | 10.40 - 12.75 | Apply Now |
To be eligible for a Loan Against Property from SBI, you need to meet the following criteria:
Additionally, SBI may also consider factors such as credit score, employer's profile, etc., when evaluating your eligibility for a Loan Against Property.
Also read: Best Loan Against Property Eligibility
The documents required by State Bank of India for availing a Loan Against Property (LAP) include:
For Salaried:
For Non-Salaried:
Also Read : Best Loan Against Property Documents Required
Yes, customers can avail up to 90% of the total Loan Against Property amount as an overdraft.
The maximum loan amount available under ICICI Bank's Loan Against Property is Rs. 5 crore. However, the actual loan amount provided to a customer depends on their financial situation and the value of the property being pledged. Also read: Best Loan Against Property EMI Calculator
You can use both residential and commercial properties as security to get a Loan Against Property. However, the property you offer as security must be free from any existing charges or liabilities.
Customers can use ICICI Bank's Loan Against Property for various personal or business needs, such as expanding a business, funding children's higher education, purchasing expensive equipment, and more.
The amount of loan that the bank approves depends on the customer's ability to repay, the type of property, and its market value. The bank typically offers loans of up to 70% of the property's market value, which is assessed by the bank's team of valuers.
