State Bank of India Mortgage Loan Details 2024

Loan AmountRs. 10 lakh to Rs. 7.5 Crore
Rate of interest10.10% - 11.65% onwards
TenureUp to 15 Years
Age Limit18 - 70 Years
Processing fee1% of loan amount (maximum Rs. 50,000) + applicable taxes
  • 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 mortgage loan eligibility in SBI
  • Flexible repayment tenure
  • Doorstep service
  • No hidden charges

Apply for IDFC Loan Against Property

SBI Loan Against Property (LAP) Interest Rates

The SBI Loan Against Property Interest Rate depends upon various factors as mentioned below:

  • Income: If the income of the applicant is higher, then the SBI property loan interest rate is lower. This is because the applicant is more reliable when it comes to repaying the EMI each month.
  • CIBIL score: A score is provided based on your financial transactions and repayments towards your loans and credits. A higher credit score shows that the customer has better financial health. As a result, he is expected to have better repayment capacity. This attracts a lower mortgage loan in SBI interest rate. 
  • Current employment status: Salaried individuals enjoy a lower interest rate when compared to self-employed individuals. This is because the income for salaried individuals is fixed each month. However, with self-employed individuals, fluctuations are expected. There are other factors like the profitability of the business and the experience of the individual in their industry that is five taken into consideration while fixing the interest rate for the loan.

The interest on loan against property SBI is linked to MCLR and is revised each year based on the changes in the market lending rate. The current interest rates offered are 10.10% - 11.65%.

Loan AmountInterest Rate
Upto Rs. 1 crore1.45% + 1 yr MCLR = 10.10% p.a.
Above Rs. 1 cr & upto Rs. 2 crs.2.10% + 1 yr MCLR = 10.75% p.a.
Above Rs. 2 crs. & upto Rs. 7.50 crs.2.50% + 1 yr MCLR = 11.15% p.a.

You can also compare Loan Against Property Interest Rate Online from Top Lenders.

Compare Loan Against Property Interest Rates for Top Banks

Below is the comparison of SBI LAP loan interest rate with loan against property interest rates of other lenders. You can compare the interest rates offered by different lenders to choose the best option:

Name of the LenderInterest Rate (% p.a.)
State Bank of India10.10% - 11.65%
LIC Housing Finance9.70% - 11.55%
IDFC First Bank9.00% - 20.00%
Federal Bank12.60%
Home First 12.80% - 18.50%
HDFC Bank9.50% - 11.00%
Kotak Mahindra Bank9.15% - 10.50%
PNB Housing Finance9.25% - 12.45%
Bank of Baroda10.85% - 16.50%
ICICI Bank10.85% - 12.50%
Tata Capital10.10%
Bajaj Housing Finance9% - 14%

Features and Benefits of SBI Loan Against Property

SBI mortgage loan 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: Mortgage loan SBI interest rates are competitive. The LAP interest rates SBI differ from one customer to the other based on their SBI Loan Against Property eligibility. However, the bank offers 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 an SBI loan against 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 mortgage loan SBI without attracting any exuberant fees or charges that are higher than the interest that you will pay towards the loan.

Apply For Loan Against Property online

SBI Bank Loan Against Property Eligibility Criteria

There are different factors that are considered to decide the SBI Loan Against Property Eligibility of the applicant. 

Here are the different categories and the conditions for eligibility accordingly:

Eligibility Based on The Age of the Applicant 

Age is an important parameter as it determines the repayment tenure that you are eligible for:

  • The applicant should be 18 years old at least in order to be eligible for an SBI Mortgage Loan.
  • At the maturity of the loan, the applicant should not be more than 70 years of age.

The repayment tenure for the loan is dependant on the age of the applicant as follows: 

Age of the Applicant Maximum Tenure for Salaried Applicants Maximum Tenure for Self-Employed Individuals 
25 years15 years15 years
30 years 15 years 15 years
40 years 15 years15 years
50 years15 years 15 years
60 years 10 years 10 years

Eligibility Based on the Income of the Individual 

Your income determines your repayment capacity for a loan. The net monthly income is calculated when it comes to SBI Loan Against Property. Typically, a 60-time multiplier is applied to the net income of the applicant to calculate eligibility for a loan. However, the net monthly income for a borrower to qualify for a loan against property is Rs.70,000. The income of the individual also determines the interest rate offered. The higher the income, the lower the interest rate as the applicant has a higher repayment capacity. 

The nature of employment is also an essential factor when it comes to SBI Loan Against Property. You need stability in job and income for at least two years in the case of salaried individuals and five years in the case of self-employed individuals.

Eligibility Based on the Value of Property 

The maximum loan amount that you get depends upon the Value of the Property that you pledge. You can get up to 80% of the value of the property as a loan, depending upon the location of your property. This value is usually lower when it comes to commercial properties.

Here are the Loan To Value details based on the type of property and the value of the property. 

Type of Property LTV
Commercial property 65%
Residential Property 80%

Other Factors That Determine Eligibility 

  • The applicant should have a 650 minimum CIBIL Score.
  • The FOIR or the Fixed Obligation Income Ratio should be at least 65%.

SBI Bank Loan Against Property Documents Required

List of common documents for all applicants:

  • Employer Identity Card
  • Completed loan application form duly filled in and affixed with 3 recent passport size photographs
  • Identity proof (any one): PAN Card/ Passport/ Driver’s License/ Voter ID Card
  • Address proof (any one): Recent copy of Telephone Bill/ Electricity Bill/ Water Bill/ Piped Gas Bill/ copy of Passport/ Driving License/ Aadhaar Card

Property papers:

  • Permission for construction (wherever applicable)
  • Registered Agreement for Sale (for Maharashtra only)/ Allotment Letter/ Stamped Agreement for Sale
  • Occupancy Certificate (for ready to move property)
  • Share Certificate (for Maharashtra only), Maintenance Bill, Property Tax Receipt, and Electricity Bill
  • A copy of Approved Plan (Xerox Blueprint), Registered Development Agreement of the builder, and Conveyance Deed (for new property)
  • Payment Receipts/ Bank Account Statement showing all the payments made to Builder/ Seller

Account statement:

  • Bank Account Statements of the last 6 months for all bank accounts held by the applicant
  • If any previous loan was taken from other lenders, then a Loan Account Statement for the last 1 year will be required

Income proof for salaried applicant/ co-applicant/ guarantor:

  • Last 3 month's Salary Slips/ Salary Certificate
  • Copy of Form 16 for the last 2 years/ copy of Income Tax Returns for the last 2 financial years, and acknowledged by the Income Tax Department.

Income proof for non-salaried applicant/ co-applicant/ guarantor:

  • Business address proof
  • Income Tax Returns for the last 3 years
  • Balance Sheet and Profit & Loss Account for the last 3 years
  • Business License details (or equivalent)
  • TDS Certificate
  • Form 16A (if applicable)
  • Certificate of qualification (for C.A./ Doctor/ other professionals)

You can also Check the necessary Documents required for Loan Against Property

Fee and Other Charges for SBI Loan Against Property

LAP in SBI offers the most affordable processing fees and charges. You can be sure that they do not have any hidden costs or charges. You get a list of charges upfront.

Here are the expenses that you can expect with your loan apart from property loan interest rate SBI:

Processing fees: 

  • 1% of the final loan amount plus applicable taxes, subject to a maximum amount of Rs.50000.
  • In the case of SBI rent plus, the processing charges are 2.02% of the total loan amount — subject to a maximum of Rs.1.01,865.
  • All the processing charges must be paid upfront.


  • Fees payable to the advocate for title investigation report and property search
  • The fees payable to the valuer to create the valuation report.

Post Sanction

  • The stamp duty that is payable towards the mortgage and the loan agreement
  • The premium is payable towards insuring the property.
  • CERSAI registration fee of Rs.50+ GST with a limit of up to Rs.5 lakhs and Rs.100+ GST for a limit above Rs.5 Lakhs

All the applicable fees to be paid at actuals. If you have any queries regarding the fees payable towards the loan against the property, get in touch with the customer care on call or visit the nearest SBI Branch.

You can also check features and benefits of Loan against Agriculture Land

Types of SBI Loan Against Property

State Bank of India offers three types of loans against property: 

SBI Loan Against Property 

  • The minimum SBI Loan Against Property amount provided is Rs.10 Lakhs
  • The maximum SBI Lap amount offered is Rs.7.5 Crores based on the location of the property that is mortgaged.
  • The minimum loan tenure is five years, while the maximum loan tenure is 15 years based on the eligibility of the applicant.
  • The LTV ratio for loans up to Rs.1 crore is 65%. The LTV ratio for loans between Rs.1 Crore and up to Rs.7.5 Crores is 60%.

SBI Loan Against Mortgage of Immovable Property 

  • Rs. 10 Lakhs is the min loan amount in this case.
  • Depending upon the property's location, the maximum loan amount that is offered is Rs.5 crores. In the case of Non-Urban Centres, the cap on the loan amount is Rs.1 crore. For other BPR centres besides the primary Indian metros, the cap on the loan amount is Rs. 2 crores.
  • In the case of semi-urban and rural areas, this scheme is unavailable.
  • The LTV depends upon the loan amount. For loans up to Rs.1 crore, the LTV is 65%. For loans up to Rs. 5 crores and above one crore is 60%.
  • 180 months is the maximum repayment tenure of this loan.

SBI Rent Plus 

  • This loan is provided based on the future rentals that are expected on a commercial property or residential property.
  • You can get up to 75% of the value of the mortgaged property as loan according to the valuation provided by an approved SBI valuer.
  • You can get a loan of 75% of the expected rent for the remaining lease or loan period, whichever is earlier.
  • The maximum loan amount is subject to a cap of Rs.7.5 crores in metros and Rs.5 crores in non-metro cities.
  • The maximum loan repayment period is the residual period of the lease or 10 years, whichever comes earlier.

You can also check Loan Against Property without Income Proof and ITR 

SBI Loan Against Property EMI Calculator

State Bank of India offers some useful financial tools that make it easier for you to ensure approval on your loan. One of them is the SBI Loan Against Property EMI Calculator. This tool lets you calculate the EMI payable towards the loan quite accurately. 

How to Use SBI Loan Against Property EMI Calculator?

  • Log on to www.SBI.co.in
  • Choose the EMI Calculator
  • You will see three sliders that ask you to set the loan amount, interest rate and repayment tenure.
  • Once these details have been provided by you, you will estimate the expected monthly EMI towards your loan against the property.

Why is the EMI Calculator Beneficial?

The EMI Calculator for your Loan Against Property is essential because it helps you plan your loan well. Here are some advantages of using this tool before you send out your application form:

  • Plan your budget: Once you get the details of your EMI, you can check if it is affordable for you. This ensures that you do not overburden yourself each month to make repayments towards your loan.
  • Check your eligibility: SBI calculates the EMI to Net Monthly Income Ratio to determine the individual’s eligibility for a loan against property. The expected ratio is between 50-60%. This means that your EMI should not be more than this accepted ratio to make it comfortable for you to make monthly payments on time.
  • Find the most affordable EMI: You can change the repayment terms or the loan amount on the slider to look for the best EMI for you each month. That way, you can be sure that you can make repayments towards the loan quickly.
  • Maintain a good credit score: Knowing your monthly EMI helps you repay the loans on time. Not just that, you only send in applications for a loan that you are most likely to get approval on. This keeps your credit score intact, allowing you to get approvals and sanctions on any other loan or credit facility that you wish to avail.

The table below shows the SBI EMI estimation at the different blends of loan amounts and a longer tenure at the most reduced rate of 10.10% - 11.65%.

 EMI Based on Loan Amount & Tenure
Loan Amount (Rs.)5 Years10 Years15 Years
15 Lakh Loan Against PropertyRs. 31,944Rs. 19,906Rs. 16,211
30 Lakh Loan Against PropertyRs. 63,889Rs. 39,812Rs. 32,422
40 Lakh Loan Against PropertyRs. 85,185Rs. 53,082Rs. 43,229
60 Lakh Loan Against PropertyRs. 1,27,778Rs. 79,623Rs. 64,844

How to Apply for SBI Bank Loan Against Property?

You can apply for SBI Loan against Property online through the official website of SBI.

  • On the website, click on 'Personal Finance' under the 'Personal Banking' section.
  • Then click on the 'Loan against property' tab.
  • You will be directed to a new page, click on 'Apply Now Online' button there.
  • Fill in the application form and upload all the necessary documents.
  • Check the information provided by you before submitting the application form.

Alternatively, you can apply for the SBI Loan against property offline by visiting your nearby SBI branch. Carry all the relevant documents including your property documents to speed up the application process.

You can also Apply for Commercial Property Loan Online.

SBI Loan Against Property Customer Care

State Bank of India offers multiple channels to reach their customer service desk. 

Here are the various options that you can choose from:

Toll-free number 

Access the 24x7 customer care number 1800-11-2018 for any queries that you have with respect to your SBI Loan Against Property. This number leads you to an IVR system. Just follow these steps to get information about Loans against the property.

  • Choose the preferred language as per the instructions given to you.
  • Dial 3 to enter the Home Loans menu.
  • Then follow the instructions to get access to the Loan Against Property section.
  • If you wish to talk to a customer care executive directly, dial 9.


You can also access SBI customer care online using the following options:

  • Call back request:  Log on to the website and click on the Contact Us option. This leads you to a new page with all the details of their customer care services. You can request a callback. Click on it and fill up a simple form. Once this form has been received by SBI customer care, you will get a call back from an executive.
  • Complaint or Request Form: Under the ‘Contact Us’ section on the SBI website, you will also be able to see a complaint/ request form. Fill up some fields like the product category and the product-related query that you have. In this case, choose Loan Against Property. This sends an email to the customer care desk, who will respond to you via email or call.
  • Email: In case of queries regarding the SBI Bank loan against property, you can send an email to customercare@SBI.co.in. In the subject line, state the issue that you need to be addressed. You will receive an email giving you instructions about resolving the issue or with all the information about the loan product you have enquired about.
  • Social media: SBI Bank is active on all popular social media channels. This includes Facebook, Twitter, Instagram and YouTube. You can connect with them on these channels by sending a direct message or by tagging them in any queries or complaints that you may have.

SBI Bank offers 24x7 customer care services. This includes all public holidays as well. With these efficient services, you get access to any information that you need, including the features of the loan, repayment terms, the interest rates and even the process of sending out an application for a Loan Against Property. This ensures that you make an informed decision on your loan application. You can also track your application and disbursement status after the application has been reviewed.

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Pre-Approved Loan Against Property @9% p.a 

Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.

SBI Loan Against Property FAQs

✅ What types of properties stand eligible for a Loan Against Property at SBI?


Both commercial and residential properties can be mortgaged to get an SBI Loan Against Property. However, the property should be registered in your name or the name of your spouse/ child/ parent or sibling. In the case of SBI Rent Plus, the property must be rented or leased out to an MNC/ Corporate or other commercial establishments.

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


The loan amount that you can get with an SBI Mortgage Loan depends upon the value of the property as proposed by a qualified valuer with SBI. This is also subject to the location of the property. You can get up to 65% LTV with a cap of Rs.7.5 crores. There are several other eligibility criteria like the income and employment status of the individual that determine the maximum loan quantum sanctioned to any customer.

✅ What is the maximum as well as the minimum amount that one can avail of as a loan from SBI against your property?


You can get the minimum amount as a loan with SBI Loan Against Property is Rs.10 lakhs. The maximum loan quantum is Rs. 7.5 crores. This is subject to the location of the property and the eligibility criteria fulfilled by the applicant.

✅ SBI loans against property interest rates are floating or fixed?


SBI commercial property loan rate of interest and SBI loan against property interest rates are floating in nature. This is linked to 1-year MCLR and is revised each year as per the fluctuation in the market lending rates.

✅ What will be my repayment tenure for Loan Against Property at SBI?


The repayment tenure for SBI Loan Against Property is up to 15 years, depending upon the age of the applicant. In the case of older individuals, the age of the applicant should not be more than 70 years when the loan amount matures. In SBI Rent Plus, the maximum tenure offered on loan is 10 years or up to the expiry of the property lease, whichever comes earlier.

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


There are three simple methods of repayment for SBI Loan Against Property:

  • ECS from any bank account that the applicant holds. 
  • Post-dated cheques for the entire repayment tenure of the loan
  • Standing Instructions for EMI to be debited from an SBI account that is held by the applicant. 

✅ Who is eligible for SBI Loan Against Property?


In order to be eligible for an SBI Loan Against Property, the applicant must fulfil the following conditions: 

  • The minimum age of eligibility for an SBI Loan against property is 18 years. 
  • The applicant should not be over 70 years of age at the time of maturity of the loan term. 
  • The minimum net income per month should be Rs.25000 per month or Rs.3 Lakhs per year. 
  • In order to get an SBI Loan against property, the applicant should have a CIBIL score of at least 650. 
  • The FOIR expected is 65%. 

For SBI Rent Plus, the applicant should be an owner of commercial or residential properties that have to be rented or have already been leased to Banks/ MNCs or any large or medium corporates. The loan amount is based on the rentals expected on the property.

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


You can apply for an SBI Loan Against Property online or offline. Here are the steps involved in submitting your loan application.

Applying online: 

  • Visit www.SBI.co.in 
  • Under the section for ‘Personal Banking’, choose the ‘Personal Finance’ option. 
  • Click on the ‘Loan Against Property Option’ 
  • This will guide you to the next page, where you will see the option to ‘Apply Now’. 
  • After you have filled the application form, upload the basic documents as required. 
  • Before clicking on the submit button, make sure you go through all the details thoroughly. 

Once SBI Bank has received the application form, they will conduct a complete review. If any additional documents are required, they will get in touch with you using the contact details provided on the application form. Once the loan application has been reviewed and is considered satisfactory, your loan will be sanctioned. The disbursed amount will be sent to the account whose details you provided along with the loan application.

Offline application 

You can apply for your SBI Loan Against Property through any branch near you. Go to the branch to fill the application form and submit it along with the necessary documents, post which the bank will review the submissions and you will be notified if the loan is approved. If the bank requires any additional documents, you may have to submit them even while the loan application is being processed.

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


Both Personal Loans Against Property and Unsecured Personal Loans are designed to help you get instant funding to meet unexpected expenses. They have their advantages and disadvantages as mentioned below: 

  • Interest Rate: The interest rates for unsecured personal loans are higher because the applicant does not provide any security against the loan. On the other hand, you can enjoy a lower SBI LAP interest rate as you mortgage a commercial or residential property against the loan.
  • Risk factor: When you apply for a loan against property, you mortgage your property. So if in case you cannot repay the loan, you risk losing your property. However, this risk is avoided in the case of an unsecured personal loan.
  • The loan amount: The loan amount that you can get with a Loan Against Property is much higher as the value of the property is taken into consideration. You can get up to 80% of the property value as a loan. The amount received with an unsecured personal loan is lower as you do not provide any security.
  • CIBIL Score: Unsecured loans cause your CIBIL Score to drop. So, it is advisable to keep the number of unsecured loans minimal. 

Overall, the SBI Loan Against Property has more advantages when compared to an unsecured personal loan.

✅ What is the processing fee involved in The State Bank of India (SBI) loan against property?


The processing fee for SBI Loan Against Property is 1% of the loan amount. In the case of Rent Plus, the processing fee is 2.02% of the loan amount sanctioned.

✅ Can I get The State Bank of India (SBI) loan against property without any income proof?


SBI Loan Against Property takes the income of the individual into account to process the application. You need to show a minimum income of Rs.25000 per month. Therefore, you cannot get an SBI Loan Against Property without any income proof.

✅ Can I get loan against property from SBI?


If you are an Indian resident aged between 18 and 70 years, you can get a loan against property from SBI.

✅ What is the rate of interest of loan against property in SBI?


The mortgage loan interest in SBI ranges from 10.10% - 11.65% p.a.

✅ Which bank is best for loan against property?


SBI, ICICI, Kotak Mahindra Bank, HDFC Bank, and PNB Housing Finance are some of the best banks for loan against property.

✅ What is the interest rate for SBI property loan in 2024?


The LAP interest rate SBI in 2024 is 10.10% - 11.65% p.a.