SBI Bank Loan against Property

Sir I want to take State Bank of India Loan against Property so please can you give me the eligibility to take the loan and also provide me the all document list that are needed to take this loan?

[Shaleen]

Here I am providing you the eligibility for taking SBI Loan for property or home loan.

Eligibility:

Salaried Self

Age Maximum 60 years Maximum 60 years

Income annum Rs. 144000 per annum Rs. 150000 per

Residence valid residence proof valid residence proof
Proof


Document required for Loan against Property


ID Proof:
For salaried & self:

PAN card/voters ID/ Passport/Driving License/Any other valid
proof.

Address Proof:
For salaried & self:

Recent telephone bill/electricity bill/property tax receipt/ passport/
Voters ID

DOB Proof:
For salaried & self:
10th class certificate/DOB Certificate

Financial Docs:

For Salaried
-Statements (latest 3 months bank statement / 6 months bank passbook)
-Latest salary slip or current dated salary certificate with latest Form 16

For Self
-Bank Statements (latest 6 months bank statement /passbook)
-Latest ITR along with computation of income, B/S & P&L a/c for the last 2 yrs. certified by a CA
-Qualification proof of the highest professional degree

Hi I want to take Loans against Property from State Bank of India so provide me the details of this loan?

[Quick Sam]

State Bank of India is an Indian multinational, Public Sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra. It was established on 2 June 1956.

Loans Against Property

Avail of an All-Purpose loan against mortgage of any of your property.

They offer you these loans at all their Personal Banking Branches and those branches having Personal Banking Divisions amongst others.

Eligibility

A. An individual who is-

An Employee or
A Professional, self-employed or an income tax assesse or
Engaged in agricultural and allied activities

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

The income of the spouse may be added if he/she is a co-borrower or a guarantor.

Maximum age limit: 60 years.

Loan Amount

Minimum: Rs.25,000/-

Maximum : Rs.1 crore. The amount is decided by the following calculation:

24 times the net monthly income of salaried persons
OR
2 times the net annual income of others

Margin

We will finance up to 60% of the market value of your property.
Interest

Repayment

Maximum of 60 equated monthly installments, up to 120 months for salaried individuals with check-off facility.

Processing Fees

2% of the loan amount [inclusive of the service tax]. Max of Rs. 50,000/-

Contact details

State Bank of India
Next to H.P. Petrol Pump, Kapad Road,
Mahim West, Mahim,
Mumbai, Maharashtra 400010 ‎
022 2411 8793

Map location
[MAP]State Bank of India Next to H.P. Petrol Pump, Kapad Road,
Mahim West, Mahim, Mumbai, Maharashtra[/MAP]