SBI Mortgage Loan

SBI Mortgage Loan, State Bank of India (SBI) is the largest Public Sector Bank of India. Right after independence, SBI is serving the country since it’s a government owned organization. Hence, it is so obvious that it is one of the most trusted banks in India. SBI has almost 16,000 branches all over India, a number highest than any other Bank in India. SBI provides a range of banking products through its network of branches in India and overseas, prominent ones being Loans and Finances of all types. Enable the value of your unused or immovable Property with SBI Loan against Property scheme. SBI Mortgage Loan is a complete protection plan for your future planning and family. SBI offers an all-purpose loan against mortgage loan which means the loan can be used for any purpose if the amount is below 25 lakhs.

SBI provides Mortgage Loan for both salaried and self employed individuals. For Self-employed SBI offers Mortgage Loan for any business requirement, such as purchasing of machinery or extending working capital. SBI offers Mortgage Loan against Property for Salaried customers as well, for buying new property, home renovation, marriage requirements or anything.

Being the oldest and most trusted Financier, SBI offers best and lowest interest rate in market on Loan against Property. Deals of Loan offers SBI Mortgage Loan with minimal documents requirements and speedy approvals. Deals of Loan offers various deals and complete assistance on getting Mortgage Loan with special offers.

The advantages of SBI Mortgage Loan :

Complete transparency in transactions of Loans.
Commitment and guarantee from the oldest financial institute of India.
Easily loan disbursal from the largest branch network.
Lowest interest rates on loan at monthly/ quarterly/yearly basis.
Lowest Processing fee.
Zero percent prepayments on the property loans
Enjoy benefits of banking with the largest finance house of India.

The salient features of taking SBI Mortgage Loan from Deals of Loan :

Up to 100 % funding against property based on market valuation of the property.
We are offering loan approval in just 4 working days.
We are offering free of cost Legal help on property papers, title search.
We are also funding to builders & developers.

Other resources :

Loan Against Property documents
Benefits of Loan Against Property
Loan Against Property eligibility
Loan against Property Pune
Loan against Property Provider Banks in Pune

Features :

Apply for SBI Loan Against Property, whether it is commercial or residential. Also you can use this fund for to buy new property.
A take-over of existing loan with refinancing is possible with SBI Loan Against Property .

Attractive rates of interest
Service is Doorstep
Residential or Commercial Mortgage Loan
Loan for buying of commercial property
Take-over of existing loan with having additional refinance
Also Lease Rental Discounting (LRD)

Loan Against Property eligibility criteria of SBI
Eligibility of Loan Against Property: SBI build different factors but the most important factor is your ability to repay the loan. The main factors on which eligibility of an applicant depends are,
Age: SBI offers loan against property for maximum tenure of 15 years if the borrower’s age does not exceed above 70 years for salaried & 70 years for self employed. Apply for loan at smaller age, chances is higher for loan approval.

Property Value: SBI decides your loan amount based on market value of your property which is place as your collateral for the loan. SBI lends less than the market value of a property. As per the RBI guideline, borrower also has to show some contribution. Ratio of loan amount to value of home is called as Loan to Value (LTV) ratio. SBI gives maximum LTV of 60% for property loans depending upon market value of property.

Borrower Repayment Capacity : Your eligibility depends upon maximum EMI that you can pay. SBI checks your past CIBIL history, repayment record of credit cards & existing loans that can impact on loan against property eligibility. If you have any other loan running whose EMI currently you are paying, then you should close your loan to get higher loan against property eligibility. SBI doesn’t specify any particular CIBIL score for being eligible for the property loan. It is observed that a score of 700 & above is desirable. To reduce your burden of higher EMIs, SBI gives you max. tenure of 15 years for maximum loan amount of Rs.75,000,000 with a min. spread of percentage over 1 Year MCLR. Opt for a loan tenure that suits you.

Income: Loan against property mostly taken by the self employed people  in order to expand their business. However, in order to increase the loan amount you may club the income of family members such as your spouse, parents, children & siblings.
Business person should be in business from the past two years & minimum ITR of last two years is required as proof to SBI.

Popular Products:
Loan Against Mortgage of Immovable Property
Property Loan Scheme
State Bank Rent Plus

SBI Floating Rate Loan Against Property
SBI Loan Against Property Floating
Upto Rs. 2,500,000 – 9.85%
Rs. 2,500,001 – 10,000,000 – 9.85%
Rs. 10,000,001 – 20,000,000 – 10.35%
Above Rs. 20,000,000 – 10.80% linked to one Year MCLR

SBI Loan Against Property Top up, Transfer
Loan Against Property Transfer from another bank to SBI
SBI offers a loan against property balance transfer from another bank. This is subject to your meeting other eligibility criteria of SBI. You can use additional top-up loan against property from SBI, subject to your eligibility.

Loan Against Property SBI documents required
Loan Against Property for the Salaried employee SBI documents
Filled up loan application form
Two Passport Size Photo
ITR of last two years
ID Proof – Passport/ Driving Licence/ Voter ID/ PAN
Residential Address Proof – Leave & License/ Registered Rent Agreement/ Utility Bill (upto three months old), Passport
Income Documents – six months payslip, two years Form 16, six months bank statement showing salary credit & any EMI debit

Loan Against Property for Self-Employed SBI documents
Filled up loan application form
Two Passport Size Photo
ID Proof – Passport/ Driving License/ Voter ID/ PAN
ITR of last two years
Residential Address Proof – Leave & License/ Registered Rent Agreement/ Utility Bill (upto three months old), Passport
Business proof such as VAT or service tax registration, incorporation details in case of companies, business address proof, profit & loss accounts, balance sheets certified by CA, copy of partnership deed, proof of business existence & business profile

Property documents for Loan Against Property from SBI
Registered Sale Deed or Conveyance or Lease Deed
Past Sale Deeds Chain (each transaction in respect of this property since first allotment)
Latest House Tax Return or Receipt
Approved Building Plan from the Municipal Corporation

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