State Bank of India Loan Against Property

State Bank of india offers floating-rate packages on their personal loans. SBI interest rates are pegged to floating interest card rate which currently stands lowest at 10.85% p.a for the tenure of 6 years for 20 lakh rupees.

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State Bank of India LAP

  • Interest Rate

    11.05% - 14.05%

  • Loan Amount

    ₹1L - ₹20L

  • EMI Per Lakh

    ₹2,177 - ₹2,329

  • Processing Fees

  • Pre-Payment Charges


Features & Benefits of SBI Loan Against Property

A loan against property is a scheme where a borrower attaches their real estate assets as collateral to get credit against the same. Here, the property should be directly owned by the borrower. Furthermore, the property remains collateral throughout the maturity or until the amount is paid out fully. The risk of a loan against property is that one could potentially default on their real estate property if they fail to pay the borrowed amount. Various lending institutions offer this service, and customers avail of this facility to meet various personal needs that involve huge monetary capital.

Some of the top banks that offer this scheme include the State Bank of India. SBI, established in 1955 with regulations from the government of India and the Reserve Bank of India, is considered a top contender for customers to seek out financial services and products. The SBI Loan Against Property is a niche product offered to customers to meet various financial ends.

SBI, being one of the major banks in India, has designed its SBI loan against property scheme with lucrative features and benefits. Some of the features and benefits of the SBI LAP scheme are listed below.

  • Attractive and competitive interest rates
  • The application for the SBI loan against property is disbursed with low processing charges. 
  • Transparency in the transaction
  • There are no charges for making any prepayments
  • Interest is availed on daily reducing balance

SBI Loan Against Property Interest Rates

The State Bank of India offers its customers SBI LAP interest rates based on the CIBIL score of each individual. There are classes specified for which a varied rate of interest is assigned. Furthermore, with attractive SBI LAP rates, customers can be assured of getting the best deals from the institution. The table below shows the range of CIBIL scores and their respective interest rates.

CIBIL Score Range Rate of Interest
Less than or equal to 800 9.80% per annum
From 750 to 799  9.90% per annum
From 700 to 749 10.00% per annum
From 650 to 699  10.10% per annum
From 550 to 649 10.20% per annum
In case of No CIBIL score available  10.00% per annum

Factors affecting SBI Loan Against Property Interest Rates

It is never easy for a lending institution to determine the ideal interest rate to offer to their customers. There should be a fine balance between the market rates, regulatory requirements, and profitability. With SBI LAP interest rates, the institution devises its plan with respect to a customer’s CIBIL score. Moreover, various sub-factors come into play which guide SBI to establish a lucrative rate of interest. Here are some of the main factors which affect the SBI Loan Against Property Interest rates in India.

  • Demand for Money - In an economy, the outflow of money has to be balanced out with the inflow. And when it comes to financial institutions lending out their capital, they need to devise an interest rate that averages out the receivables. This means that a fine-tuned rate of interest needs to be devised to equalise the supply and demand of money.
  • Credit Score of the Borrower - Banks take an individual's credit score seriously. Some agencies solely involve themselves in analysing individual borrowers and their creditworthiness. A credit score and credit rating are assigned to each of them, which banks finally take into account to determine what interest rate should be ideal for balancing the credit risk.

Some of the subcategories of factors that affect interest rates are as follows.

  • Income of the Borrower - Banks need to be assured that a borrower will be able to pay back their loans. Consequently, income plays an important role in determining whether a borrower can repay. The lesser the borrower's income, the higher the interest rate assigned.
  • Tenure of the Loan - The duration of a loan term also affects how much the borrower will bear an interest rate expense. The longer the tenure, the more the interest payable.
  • Real Estate Type - When it comes to SBI loans against property, the real estate type also affects how the interest rate is designed. Commercial properties attract more interest rates, whereas residential properties get lesser. The valuation of the property also affects how the interest rate is determined.
  • Credit History - When it comes to the history of credit and loan repayment patterns, banks take note of the same and assess whether or not to sanction a loan. This goes with an individual's credit score, and interest rates could vary depending on the person’s creditworthiness.

SBI Loan Against Property Fees and Charges

SBI Loan Against Property incorporates processing fees and charges depending on the home loan product. Customers will have to pay them duly, along with a down payment if applicable. Although SBI Loan Against Property has such charges, they are minimal and fair compared to many lending institutions. Here is a guide to the SBI Loan Against Property Fees and Charges that a customer has to incur when applying for a loan.

SBI Loan Against Property Type Applicable Fees 
Regular Home Loan 0.35% of the loan amount + GST
Miscellaneous Home Loans such as NRI loan 0.35% of the loan amount + GST
Top-up Home Loan 0.35% of the loan amount + GST
SBI Loan Against Property  1% of the loan amount + GST
Digital YONO Top-Up Home Loan INR 2000 + GST
Smart Home Top-Up INR 2000 + GST
Insta Home Top-Up INR 2000 + GST
Reverse Mortgage Loan 0.50% of the loan amount + GST

Some miscellaneous charges for SBI Loan Against Property are as follows:

  • 1% processing fee along with applicable taxes. The maximum fee chargeable is INR 50,000. 
  • There will be a house evaluation fee, including the advocate’s fees for title investigation.
  • Stamp duty for loan processing
  • Premium amount payable for insurance of large sanctions 
  • CERSAI registration fees which range from INR 50 to INR 100.

Documents required for SBI Loan Against Property

There are requirements for various documents which the SBI uses to authenticate an applicant’s claims of who they are. These documents must be supported with property documents for getting SBI Loan Against Property quotes. Here are the important documents required for applying for Loan Against Property in SBI.

  • Identification card of the employer
  • Completed loan application form with attached passport-size photographs. 
  • Any identification card including passport, PAN, Voter ID card, Driver’s Licence, etc. 
  • Residential proof cards such as copies of electricity bill, telephone bill, water bill, piped gas bill, etc.

The property papers that will be required to be submitted while applying for SBI Loan Against Property scheme are as follows:

  • If applicable, the customer has to show papers of construction permission. 
  • Stamped sale agreement.
  • Occupancy certificate
  • Maintenance certificate, if any
  • Plan approval document
  • Payment proof with the bank statement.

If an applicant is a salaried employee, they must share the following documents.

  • Salary slip 
  • Three-month salary certificate
  • Form 16 
  • Copy of IT return statement

Applicants that are non-salaried professionals will be required to produce the following documents.

  • Location proof of the business office
  • Last three years statement of income tax filing
  • Balance sheet statement
  • Profit and loss statement of last three years
  • Licence copy
  • Tax deduction details 
  • Professional qualification certificate

How does the EMI calculation work for SBI Loan Against Property?

It is now easy to calculate an SBI Loan Against Property EMI with an online SBI LAP Calculator tool. This will incorporate details pertaining to the loan amount, loan tenure, and applied interest rates. With the help of the Loan Against Property EMI Calculator, customers can get a brief about how their expense is structured. This is a crucial piece of data that can be used to determine whether or not the SBI Loan Against Property is affordable.

Moreover, users can also plan their finances per the recurring expense cycle. The SBI Loan Against Property interest rate is generally calculated with the help of a mathematical formula. This is as provided below.

{P x R x (1 + R) ^ N} whole divided by { (1 + R) ^ N (N - 1) }

  • P being the principal 
  • R being the rate of interest 
  • N being the loan duration

How does SBI compare with other lenders?

There is no doubt that SBI is one of the leading financial institutions in the country. Their financial services and products are top-notch and very popular among their customers. The table below shows how SBI compares with other banks and their annual LAP interest rates.

Bank Name  LAP Interest Rates per annum
HDFC Bank 8.50%
ICICI Bank 9.75%
Axis Bank 9.40%
Citibank  7.95%
PNB Housing Finance 8.75%
LIC Housing Finance 8.85%
Kotak Bank 9.50%
Yes Bank 8.95%
Bajaj Home Finance 8.10%
IDFC First Bank 7.00%
RBL Bank 7.90%
Syndicate Bank 9.95%
IDBI Bank 9.35%
Piramal Housing Finance  11.50%
Bank of India 9.75%
India Bulls  9.25%
UCO Bank 9.45%
South Indian Bank 7.50%
Lakshmi Vilas Bank 11.00%

SBI Loan Against Property Customer Care Number

In case any customer needs any assistance from the bank directly. They can get in touch with the customer representatives. There are a few ways in which they can do so.

  • Toll-free number - 1800 11 2018 
  • Head Office - Real Estate and Housing Business Unit, State Bank of India, Corporate Centre
  • Madame Cama Road, State Bank Bhavan, Nariman Point, Mumbai-400021, Maharashtra

Furthermore, there are various bank branches across the country. One can simply locate these branches by following the steps mentioned below:

  • Go to the official website of SBI
  • From the main menu, click on the Contact Us option
  • Select the branch locator option from the interface
  • Provide preferred search options such as State/District/City, Branch name, or Branch code, or Pin code. 
  • You will have the list of branches narrowed down.


From refinancing to reducing your interest, we have the answers right here.

Does SBI Provide a loan against property at the best rate?

SBI loans against property interest rates are being offered at attractive and competitive rates. One can use an SBI LAP calculator to calculate the interest rate outcome and use the same to compare the rates of various banks.

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

SBI Loan Against Property interest rates range from 9.80% to 10.20%. The interest rates are assigned as per the CIBIL score of the borrower.

What are the benefits SBI Provides on loans against the property?

There are various benefits associated with the SBI loan against property schemes, including attractive interest rates, quality customer service, low processing fees, transparent operations, and much more.

Does SBI have a fixed rate of interest on a loan against property?

The SBI loan against property interest rates varies depending on the CIBIL score of the borrower. This is to balance out the credit risk involved in sanctioning a loan to an individual. Moreover, various other factors as well affect the SBI LAP interest rates.

What are the documents required in SBI for a loan against property?

Applicants are supposed to submit documents pertaining to identification, residential, income, home evaluation, and bank account proof for processing their applications.

How to apply for a loan against property in SBI online?

One can apply for an SBI Loan Against Property online from the official website of SBI. Moreover, they can also use the mobile application service for the same.

How to check a loan against property Status in SBI?

You can track your SBI loan against property status online by logging in to your netbanking profile.

Does SBI Check for CIBIL Score for loans against the property?

SBI thoroughly analyses the CIBIL scores before sanctioning any loans. They use the rating system to determine the interest rate to assign to a customer. It will be prudent for a customer to check their CIBIL score before making any application requests.

What is the maximum and minimum loan against the property amount I can get from SBI?

Customers have the provision to get a deal of SBI loan against property ranging from INR 25 Lakhs to INR 5 Crores.

What are the KYC documents I will have to submit to apply for a loan against property from SBI?

Applicants are supposed to submit documents pertaining to identification, residential, income, home evaluation, and bank account proof for processing their applications.

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