Loan Against Property By State Bank of India


Eligibility For Loan Against Property By State Bank of India

Employees / Professionals & self-employed and others who are IT assesses / Agriculturists and others engaged in allied activities having urban property in his own name or in the name of third party if he/she agrees to guarantee the loan.


General Purpose Loan ( not be used for speculation on real estate and capital market)

Age: Individual should not be more than 60 years of age.


Min NMI of Rs 25000 for Salaried

Min NAI of Rs 3.00 lacs in case of others

Credit Score: The Credit scoring model for Personal loan with cut-off ranges will be applicable.

EMI/NMI Ratio: =< 50%

Loan Amount:

Min: Rs. 25000/-

Max: 60% of market value of property subject to EMI/NMI not exceeding 50% with a ceiling :

  • For Tier I and Tier II Cities (list annexed-I) : Max: Rs 2.00 Cr
  • Rest of India: Max : Rs 1.00 Cr
  • Max Rs: 50 lacs for the State of Orissa, West Bengal, Mehgalaya, Mizoram, Arunachal Pradesh, Assam, Tripura, Manipur and Nagaland but excluding those cities which are covered under Tier I and II cities given in Annexure - I

In all the cases overall loan ceiling will be subject to EMI/NMI Ratio not exceeding 50%. [As per Bank's approved valuer's report not more than 3 months old.]


40% of the market value of property

Repayment Period:

With check off: maximum of 120 months [or date of retirement, whichever is earlier]

Without out check off: 72 months.

Where check off is not available, ECS/PDCs should be obtained.

(Sanctioning Authority may permit longer repayment period upto 84 months)

Credit Score

The Credit scoring model for Personal loan with cut-off ranges will be applicable.

Type of Loan

Term Loan

Processing Fee:

1.01% of the loan amount. Maximum Rs. 50933/-

[inclusive of service tax]

Pre payment Charges:


Interest Rate:

Refer to the Interest rate page

Annexure I

Tier I Cities
Tier II Cities

  • Mumbai
  • Ahmedabad
  • Bangalore
  • Hyderabad
  • Chennai
  • Delhi
  • Kolkata
  • Pune
  • Bhopal
  • Kanpur
  • Jaipur
  • Nagpur
  • Lucknow
  • Patna
  • Surat
  • Visakhapatnam
  • Vijaywada
  • Kochi
  • Madurai
  • Coimbatore
  • Warangal
  • Trivandrum
  • Rajkot
  • Ludhiana
  • Agra
  • Meerut
  • Nashik
  • Solapur
  • Faridabad
  • Varansi
  • Jabalpur
  • Jamshedpur
  • Allahabad
  • Bhubaneswar
  • Cuttack
  • Amravati
  • Aurangabad
  • Srinagar
  • Bhiali
  • Bilaspur
  • Rajahmundry
  • Kakinada
  • Nellore
  • Ranchi
  • Guwahati
  • Gwalior
  • Chandigarh
  • Patiala
  • Jodhpur
  • Tiruchirapalli
  • Pondicherry
  • Salem
  • Asansol
  • Indore
  • Gorakhpur
  • Hubli-Dharwad
  • Bhavnagar

State Bank of India (SBI), with a 200 year history, is the largest commercial bank in India in terms of assets, deposits, profits, branches, customers and employees. The Government of India is the single largest shareholder of this Fortune 500 entity with 61.58% ownership. SBI is ranked 60th in the list of Top 1000 Banks in the world by "The Banker" in July 2012.

The origins of State Bank of India date back to 1806 when the Bank of Calcutta (later called the Bank of Bengal) was established. In 1921, the Bank of Bengal and two other banks (Bank of Madras and Bank of Bombay) were amalgamated to form the Imperial Bank of India. In 1955, the Reserve Bank of India acquired the controlling interests of the Imperial Bank of India and SBI was created by an act of Parliament to succeed the Imperial Bank of India.

The SBI group consists of SBI and five associate banks. The group has an extensive network, with over 20000 plus branches in India and another 173 offices in 34 countries across the world. As of 31st March 2012, the group had assets worth USD 359 billion, deposits of USD 278 billion and capital & reserves in excess of USD 20.88 billion. The group commands over 22% share of the domestic Indian banking market.

SBI's non- banking subsidiaries/joint ventures are market leaders in their respective areas and provide wide ranging services, which include life insurance, merchant banking, mutual funds, credit cards, factoring services, security trading and primary dealership, making the SBI Group a truly large financial supermarket and India's financial icon. SBI has arrangements with over 1500 various international / local banks to exchange financial messages through SWIFT in all business centres of the world to facilitate trade related banking business, reinforced by dedicated and highly skilled teams of professionals.

Loan Against property lets you unlock the full potential of your property, and use it to build a bigger life for yourself. Whether your property is residential, industrial or commercial, a loan against property will ensure maximum finance, taking care of your unique needs as either a salaried or self-employed individual. At My Loan Partner, we help to unlock the wealth in our client's real estate assets.

Your loan application is now a very simple process as never before and we will get your loan approved asap.

We have multiple options of financial institutions to provide various types of financial services to our esteemed customers at their doorsteps at competitive rates.

We are thus providing a list of documents which are required from your side to get your loan approved from the respective banks and financial institutions.

List of documents for Salaried persons
. Proof of Identity:- Passport/Driving Licence/Voters ID/PAN Card(any one).
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Latest 3 months Bank Statement(where salary/income is credited).
. Salary slips for last 3 months.
. 2 Passport Size Photographs.

List of documents for Self-Employed
. KYC Documents:- Proof of Identity;Address proof;DOB proof.
. Proof of Residence:- Leave and License Agreement/Utility Bill(not more than 3 months old)/Passport(any one).
. Income proof(audited financials for the last two years).
. Latest 6 months Bank statement.
. Office address proof.
. Proof of residence or office ownership.
. Proof of continuity of business.

Interested? Please leave your details and we will contact you soon