SBI Loan Against Property in Purnea, Bihar

Dream come true! An all-purpose loan for the many things that life throws at you!! Do you need money for expenditure on education, marriage, health care etc. The application itself is a simple undertaking and no documentary evidence should be insisted upon for the end use of the fund. Employees, professionals and self-employed persons who are IT assessors and NRIs who own residential property or commercial property in their own name or in the name of spouse/children/parent/brother

SBI Loan Against Property Important Information
Enjoy the SBI Advantage

• Complete transparency in operations


• Personal loan to individual owners of residential home/flat and select commercial properties


• Access this loan from our wide network of branches


• Interest rates are levied on a daily reducing balance method


• Lowest processing charges.


• Rental income in select cases also considered for loan eligibility.


• No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.

Eligibility Criteria for SBI Loan Against Property

• An Employee or


• A Professional, self-employed or an income tax assesses or NRIs (Who has residential property or commercial properties in his own name or in the name of spouse / children/parent/sibling)


• Minimum net monthly income of Rs. 25000/- (or Rs. 3 lacs per annum)


• Loan under LAP should be liquidated before eldest borrower attain the age of 70 years.

• Employer Identity Card


• Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs


• Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card


• Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card


• Permission for construction (where applicable)


• Registered Agreement for Sale (only for Maharashtra)/Allotment Letter/Stamped Agreement for Sale


• Occupancy Certificate (in case of ready to move property)


• Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt


• Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed (For New Property)


• Payment Receipts or bank A/C statement showing all the payments made to Builder/Seller

Fees & Charges for SBI Loan Against Property Processing Fee

• 1% of loan amount plus Service Tax, maximum Rs. 50,000/ plus Service Tax.


• Advocate's fee for property search and title investigation report.


• Valuer's fee for valuation report.

Post-sanction


• Stamp duty payable for Loan agreement


• Property insurance premium.


• CERSAI Registration Fee of Rs 50 + GST up to Rs 5 Lakh limit and Rs 100 + GST for limits above Rs 5 Lakh.