Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • SBI Loan against Mortgage of Immovables Property is Rated as "Excellent!" by 452 Users

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    SBI Loan against Mortgage of Immovables Property

    Apply for Personal Loan

    The State Bank of India Loan against Mortgage of Immovable Property provides you with the option of taking a loan against your house, or other immovable properties that are in your name. This loan can be applied by both salaried and self-employed individuals. The application can be done with minimal documentation, and will be approved and disbursed quickly.

    Where is the purpose of State Bank of India Loan against Mortgage of Immovable Property?

    Loan amount meant for and targeted to those individuals, who own immovable properties, and would like to get finance for renovation, construction, marriage requirements, even as working capital for self-employed individuals.

    What is the eligibility criteria for SBI Loan against Mortgage of Immovable Property?

    Any of the below mentioned individuals can apply for this loan, as long as they have Immovable Property in their names or name of another if he/she decides to be a guarantor for the applicant.

    1. Salaried employees or Professionals such as Doctors, Chartered Accountants, Architects

    2. Self-employed and IT assesses

    3. Agriculturists and other who are in related activities as well

    4. The minimum net monthly income should be Rs. 25,000 for a salaried employee, and a Net annual income of Rs. 3, 00, 000 for the others.

    5. The applicant cannot be over the age of 60 years

    What are the types of financing available?

    This will be a term loan used for renovation, construction, marriage requirements, even as working capital for self-employed individuals.

    What is the maximum amount of loan I can avail?

    The loan amount can range between a minimum of Rs. 25, 000 or a maximum of 60% of the market value of the property, if it doesn’t exceed 50% of the EMI or NMI. Tier 1 and 2 cities will have a maximum loan amount of Rs. 2 crore and the Rest of India will be Rs. 1 crore. The maximum amount for these cities will be Rs: 50 lakhs for the State of Orissa, West Bengal, Meghalaya, Mizoram, Arunachal Pradesh, Assam, Tripura, Manipur and Nagaland

    What is the rate of interest on State Bank of India Loan against Mortgage of Immovable Property?

    The interest rate provided by State Bank of India is 9.70% (Base Rate) per annum

    Amount

    Rate of interest

    Up to Rs. 1 crore

    Base Rate + 2.90% = 12.60%

    Above Rs. 1 crore

    Base Rate + 3.15% = 12.85%

    What are the documents required for SBI Loan against Mortgage of Immovable Property?

    The documents required to be submitted along with the form will be:

    • Proof of identity - like pan card, driver’s license, voter’s id

    • Proof of address - like recent telephone bill/electricity bill, driver’s license, voter’s id

    • Date of Birth proof - 10th class certificate/DOB Certificate

    • Financial Documents like bank statements for the last 3 months or latest salary slip

    What are the terms for State Bank of India Loan against Mortgage of Immovable Property?

    1. No processing fees.

    2. There will not be service charges charged

    3. There will not be prepayment charges as well

    4. The tenure of the loan maximum of 10 years

    5. Processing fees will be 1.01% of the loan amount. Maximum Rs. 50,933/-

    6. There will be a margin of 40% of the market value of property.

    How do I apply for this loan?

    Application for State Bank of India loan against Mortgage of Immovable Property is simple and easy you can fill in the application form and submit the same at the nearest branch, or alternately you could also apply online on the State Bank of India’s website.

    Can I apply for State Bank of India Loan against Mortgage of Immovable Property online?

    Online application process is available for this loan, all you need to do is fill in an online form and submit it on the State Bank of India’s website.

    SBI Loan against Mortgage of Immovables Property Reviews

    • SBI Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with State Bank of India.the loan amount is 2 lakhs,rate if inert is 2.5% high compared to other banks.Processing fees is .5% deducted from my loan amount.I do have part payment option in this bank and no preclosure charges is applicable.
      Was this review helpful? 4
      , chennai
      Reviewed on Dec 12, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan from SBI and it was a good loan experience with this bank. The loan amount was for Rs 1 lakh with the less interest rate when compared to all other banks. No much documents were required as i already have a salary account with this bank. Customer service was good and they followed up correctly.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Dec 09, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The response was not up to the mark with State bank of India in regards to my personal loan application. The State bank of India has rejected my personal loan application saying that my salary haven't met their eligibility criteria. The response part need to be improved with Sbi.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 07, 2017
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      It was a great personal loan experience with SBI. The loan amount was for Rs 50000 with the nominal rate of interest and the tenure of the loan was 1 year. The process was very smooth and the loan amount was approved within the given time. Customer service was first class and they followed up correctly.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 02, 2017
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      Around 5 years ago I got the personal loan from state bank of India. The personal loan service was good with SBI, they have approved my required loan amount and I am satisfied with it. The rate of interest and the charges are nominal with State bank of India.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 02, 2017
    • SBI Personal Loan
      "Below Average service"
      0.5 3.0/5 "Satisfactory"
      After I have applied for the personal loan from state bank of India, I have submitted the documents directly but they haven't gave any response but after a month time they have rejected my personal loan application saying that my credit score is low .
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 29, 2017
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan experience with SBI is very good. I have taken loan for Rs 50000 with the less rate of interest when compared to other banks. The process was smooth and easy, the loan amount was approved within the given time. Documents were collected door step. Customer service was good and they responded on time.
      Was this review helpful? 2
      , kolkata
      Reviewed on Nov 29, 2017
    • SBI Personal Loan
      "Personal loan with SBI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from STATE BANK OF INDIA. The approved loan amount was 3 lakhs. The rate of interest with the bank is 11.55%. The monthly installment is 9500. The documentation was pretty friendly. Its a recommendable bank for personal loan.
      Was this review helpful? 3
      , madurai
      Reviewed on Nov 25, 2017
    • SBI Personal Loan
      "Userfriendly loan process"
      0.5 4.0/5 "Great!"
      I took the personal loan from SBI around 4.2 lakh for the tenure of seven years. They gave me best interest rate, documentation was friendly, SBI was near to my place I direct to their branch and they worked on it and approved the loan. It has part, foreclosure option.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 24, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan from SBI few years back and it was quite a good loan experience. The process was very smooth and easy, my loan amount was approved within 2-3 days. No Documents were required as i already hold a savings account with this bank. Customer service was good and they responded on time.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 24, 2017
    • SBI Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I had got the personal loan from State bank of India around a year ago, and that name of the loan is mudhra loan. The required loan amount has been given and I am satisfied with it. The customer support is average with State bank of India. The rate of interest is nominal with SBI.
      Was this review helpful? 2
      , bangalore
      Reviewed on Nov 23, 2017
    • SBI Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from SBI and it was a quite a good loan experience. The loan amount was for Rs 3 lakhs with the rate of interest of 14.00% which is high when compared to all other banks. The process was quite long and it took 1 month for the loan to get approved. Customer service was good and they responded on time.
      Was this review helpful? 2
      , kolkata
      Reviewed on Nov 23, 2017
    • SBI Personal Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      My personal loan experience with SBI was average, i have taken loan for Rs 4.5 lakhs with the rate of interest of 12.25% which is less when compared to other banks. I pay an EMI for Rs 11000. The process was quite smooth, it took 10 days for the loan to get approved. I personally went to the bank to submit the document. Customer service from SBI was average and their response is bit delayed.
      Was this review helpful? 1
      , varanasi
      Reviewed on Nov 22, 2017
    • SBI Personal Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      I have taken a personal loan service from SBI and the interest rate they offered me was 12.4 which was fine compare to others the loan amount they offered me was 3k the process was very fast they completed it within one day and the documents have been submitted directly it was a good experience with SBI for my personal loan service.
      Was this review helpful? 1
      , pune
      Reviewed on Nov 17, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan of Rs 3 lakhs from SBI few years back, it was overall a good loan insurance. The customer service was good and they responded on time. The process was very smooth and the loan amount was approved within a week. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 15, 2017
    • SBI Personal Loan
      "Very Good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 10 years back . The loan amount was 75,000 and the interest rate was 14% which was high in the market. The customer service and responsiveness was good. They have sanctioned the loan with the committed time and they hvae provided door step service for collecting document. My overall experience was very good so Its recommendable.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 15, 2017
    • SBI Personal Loan
      "Rate of Interest was high"
      0.5 4.0/5 "Great!"
      The experience with State Bank of India in regards to my Personal was a good one. I got the Loan for really emergency usage and they provided me with a good loan. Only thing I felt let down was with their Rate of Interest of 14%, which I feel is a little high.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Nov 11, 2017
    • SBI Personal Loan
      "Interest rate should be reduced"
      0.5 3.0/5 "Satisfactory"
      I have approached SBI bank for my personal loan since my salary account is maintained with them. I just inquired to check my eligibility and interest rates. Rate of interest is little bit expensive compared to CITI Bank. Customer service is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 11, 2017
    • SBI Personal Loan
      "Good bank for loan"
      0.5 4.5/5 "Excellent!"
      I had not chosen SBI for the top up loan because i thought of giving a try else where, that is why i preferred to take Fullerton services not SBI. Infact, I did not even approach SBI for the top up loan. When I was doing an online search I got to know that Fullerton is offering a fair deal and therefore I had opted for their services. What ever amount I had got from Fullerton, I am planning to utilize the part of the amount for paying off my current debt with SBI and the rest for my son's education.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 11, 2017
    • SBI Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The response was not up to the mark with State bank of India. I got the personal loan from State bank around 6 years ago, the customer support haven't gave proper response in regards to my personal loan application. They took around 2 months to disburse my loan amount, they took very longer time to disburse my loan amount. The rate of interest and the charges are nominal with Sbi personal loans.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Nov 11, 2017
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