SBI Loan Against Property

Will you please give here detail about the Loans Against Property Scheme of State Bank of India (SBI) for its customers ?

[pawan]

State Bank of India offers loan against mortgage of any of property.

SBI Loans Against Property Scheme :

Eligibility:
An individual as
An Employee or
A Professional,
A person Engaged in agricultural and allied activities.

Income
Net Monthly Income (salaried) is in excess of Rs.12,000/- or
Net Annual Income (others) is in excess of Rs.1,50,000/-.

Maximum age limit:
60 years.

Loan Amount

Minimum:
Rs.25,000/-

Maximum :
Rs.1 crore.

Margin:
60% of the market value of property.

Processing Fees
2% of the loan amount
Max of Rs. 50,000/-

Repayment
Maximum of 60 equated monthly installments, up to 120 months