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  • SBI Loan against Mortgage of Immovables Property is Rated as "Excellent!" by 515 Users

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    SBI Loan against Mortgage of Immovables Property

    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.

    Apply for Personal Loan

    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
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan from SBI and my loan experience was good, the loan amount was for Rs 2 lakhs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. There are no preclosure charges and the tenure period for this loan is 4 years.
      Was this review helpful? 2
      , new delhi
      Reviewed on Jul 17, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan from the State bank of India which took around 1 week for approval and documentation . Am satisfied with the rate of interest 10.4% which they have provided . They charged Rs 8000 for processing fees with the tenure period of 5 years .Their customer service and service is not up to the mark as i have to do follow up regarding loan.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jul 17, 2018
    • SBI Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      My personal loan was taken with SBI 2 years back.The loan amount was 2 lakhs and the interest rate as very high . The EMI period was 5 years .The process was very slow and they have delayed processing it .The documentation was smooth .hey did not sanction the loan within the committed time. Their processing fee was average in the market.
      Was this review helpful? 7
      , hyderabad
      Reviewed on Jul 14, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      I had chosen to go with them since i was holding my salary account from the same bank. The process in getting the loan had been very easy and smooth. The loan amount which they had given had been okay and the interest rate with them had been nominal. There has not been any processing fee which they have charged. Their customer support and the staff responses had been helpful as well.
      Was this review helpful? 5
      , kochi
      Reviewed on Jul 13, 2018
    • SBI Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 7 years back. The loan amount was 1.57,000 and the interest rate was bit higher than others .The tenure period was 4 years . The customer service and responses was good. They have sanctioned the loan with the committed time. The processing fee was nominal.
      Was this review helpful? 1
      , lucknow
      Reviewed on Jul 07, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had took this loan almost 5-6 months back and the process in getting the loan has been easy and smooth. The loan amount had been easy and smooth and the interest rate with them had been very good. There has not been any issues faced with the banking services of them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2018
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the sbi which they approved in 1 day and the amount is reflected in next day ,its instant approval process. As am satisfied with the rate of interest which is nominal one of 8.5% They provided the tenure period of 2 year and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 26, 2018
    • SBI Personal Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      It had not been a good experience with them and the treatment which they are making to their customers should be improved. I had also been using the banking services of them and i had been drawing my salary with the account of them. I suggest that they should be giving a better service to their customers.
      Was this review helpful? 0
      , ranipettai
      Reviewed on Jun 25, 2018
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from the STATE BANK OF INDIA around 2years ago. The required loan amount has been given and I am satisfied with the loan amount. The rate of interest and the charges are average with the State bank personal loan process.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 20, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      The process in getting the loan amount has been a hassle where it has taken almost two months in getting the loan. Even the loan amount has not been satisfactory and the interest rate with them has been high compared with the market rate. It would have been good if they had made the process more easy and smooth.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 14, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from SBI and my experience was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. There are no charges on preclosure of loan. Customer service was good and the tenure period for this loan is 5 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 11, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have take personal loan from the sbi which they approved in 1 day and the amount is reflected in next day ,its instant approve process. As am not satisfied with the rate of interest which is quiet high. They provided the tenure period of 4 year and i make the payment monthly though ECS. There are no processing fees also.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 08, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI and my loan experience was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they followed up on time. The tenure period for this loan is 4 years.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 06, 2018
    • SBI Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      It has been a good loan experience with them and the process had been very easy and smooth. I have taken this loan almost five years back. The rate of interest was not too high with them. The loan amount which they had provided had been satisfactory. The whole process took almost an hour in getting this loan.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 06, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience was good with SBI, the loan amount was for Rs 6 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan amount on time. Customer service was good and the tenure period for this loan is 5 years.
      Was this review helpful? 1
      , chennai
      Reviewed on May 24, 2018
    • SBI Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State Bank of India and they were very transparent in the process. All the details were clearly explained and there were no hidden charges. The customer services and response is good and the process is also quick.
      Was this review helpful? 0
      , darbhanga
      Reviewed on May 22, 2018
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      Within a week time I have got the loan amount with the State bank of India. I have got the personal loan from SBI around a year ago. The customer support service and the response is good from the State bank of India. The required loan amount has been given and I am satisfied with it.
      Was this review helpful? 1
      , new delhi
      Reviewed on May 22, 2018
    • SBI Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have got better service from the STATE BANK OF INDIA in concern to my personal loan application. The customer support service and the response is average with the SBI. The rate of inters an the charges are low but the service need to be improved with the STATE BANK OF INDIA.
      Was this review helpful? 0
      , hassan
      Reviewed on May 11, 2018
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The state bank of India has approved my personal loan within a day time. The customer support service and the response is quite good from the State bank and I am satisfied with the loan amount, they have disbursed the loan amount with in a day time.
      Was this review helpful? 1
      , pune
      Reviewed on May 10, 2018
    • SBI Personal Loan
      "AVERAGE SERVICE"
      0.5 3.0/5 "Satisfactory"
      Got my personal loan form Sbi bank , they took long time for documentation and approval process . Rate of interest is also high compared to other banks, their customer service and response is good.Made payments through ECS .the tenure period is 4 years
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 09, 2018
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