SBI Loan Against Property
SBI Loans Against Property up to Rs. 7.5 Crore are available as instant secured loans. Pledge your residential or commercial property and get fast approval for up to 65% of property value at attractive interest rate 8.45% p.a.
SBI Loan Against Property Details
| Loan Amount | Rs. 10 lakh to Rs. 7.5 Crore |
|---|---|
| Rate of interest | 8.45% p.a. onwards |
| Tenure | Up to 15 Years |
| Age Limit | 18 - 70 Years |
| Processing fee | 1% of loan amount + GST |
- Competitive processing charges
- Competitive SBI Loan Against Property interest rates charged on daily reducing balance method
- Rental income is also considered on case to case basis to increase the SBI Loan Against Property eligibility
- Flexible repayment tenure
- Doorstep service
- No hidden charges
SBI Bank Loan Against Property
Sometimes you have urgent expenses that you need to cater to at very short notice. If you do not have the cash flow to meet these requirements, you can use any residential or commercial property owned by you to generate funds. Of course, the sale of these properties takes several months. What you need is an instant fix like SBI Loan Against Property.
SBI LAP helps you get funding against any commercial or residential property you must provide as security against the loan amount. The final SBI Loan Against Property loan amount sanctioned is based on the value of the property and the eligibility criteria fulfilled by the customers.
SBI offers these loans in no time with a simple application and review process. These loans are also very flexible, allowing you to fix a monthly EMI affordable to you. The funds generated from this SBI Mortgage Loan can be used for different purposes, including:
- Higher education
- Medical needs
- To repay other debts
- Wedding expenses
- Travel expenses
It is crucial to note that these loans can only be used for personal requirements. These loans cannot be used to fulfil any business expenses.
Features and Benefits of SBI Loan Against Property
SBI Loan Against Property is one of the most preferred options for instant funding because it comes with an array of features as well as benefits:
Competitive Interest Rate: SBI Mortgage Loans offer the best interest rates to their customers. These interest rates differ from one customer to the other based on their SBI Loan Against Property eligibility. However, it is one of the most competitive rates that you can avail of to meet any immediate financial needs.
Low Processing Charges: Get the advantage of low processing fees with SBI mortgage loan. This makes the process of applying for the loan hassle-free and straightforward.
Complete Transparency: Reliability is one of the essential values of SBI. When you apply for a loan against a property, you can be sure that all the fees and charges are mentioned upfront. No hidden expenses are there and therefore, no unpleasant, last-minute surprises.
No penalty for prepayments: If you have access to any additional funds or are expecting any bonus, you can plan to prepay or foreclose your SBI Loan against property without attracting any exuberant fees or charges that are higher than the interest that you will pay towards the loan.