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P-LAP (Personal Loan Against Property)

Get the best value for your home to fulfill your financial needs

Avail loan against property for fulfilling personal needs such as meeting expenditure on education, marriage, healthcare, etc. other than speculative purpose. It is to be noted that loans under SBI LAP will not be permitted for Business Purposes.

• Features
• Eligibility
• Interest Rates & Fees
• Documents Required

• Low Interest Rates
• Low Processing Fees
• No Hidden Charges
• No Pre Payment Penalty
• Interest on daily reducing Balance

• Resident Type: Resident Indian
• Minimum Age: 18 years
• Maximum Age: 70 years
• Loan Tenure : Up to 15 years
• Loan Amount: Click Here

Click here for old Card Rates

• Processing Fee*
  1. 1% of loan amount plus Service Tax, maximum Rs. 50,000/ plus Service Tax.

*Plus applicable taxes

• Pre-sanction**
  1. Advocate's fee for property search and title investigation report.
  2. Valuer's fee for valuation report.

• Post-sanction**
  1. Stamp duty payable for Loan agreement
  2. Property insurance premium.
  3. CERSAI Registration Fee of Rs 50 + GST up to Rs 5 Lakh limit and Rs 100 + GST for limits above Rs 5 Lakh.

** To be paid at actuals.

List of papers/ documents applicable to all applicants:

• Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
• Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card
• Proof of Residence/ Address (Any one): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card
• Employer Identity Card

Property Papers:

• Registered Sale deed and link documents for tracing of title
• Occupancy Certificate
• Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
• Approved Plan copy (Xerox Blueprint) & Registered Development Agreement of the builder, Conveyance Deed

Account Statement:

• Last 6 months Bank Account Statements for all Bank Accounts held by the applicant/s
• If any previous loan from other Banks/Lenders, then Loan A/C statement for last 1 year

Income Proof for Salaried Applicant/ Co-applicant/ Guarantor:

• Salary Slip or Salary Certificate of last 3 months
• Copy of Form 16 for last 2 years or copy of IT Returns for last 2 financial years, acknowledged by IT Dept.

Income Proof for Non-Salaried Applicant/ Co-applicant/ Guarantor:

• Business address proof
• IT returns for last 3 years
• Balance Sheet & Profit & Loss A/c for last 3 years
• Business License Details(or equivalent)
• TDS Certificate (Form 16A, if applicable)
• Certificate of qualification (for C.A./ Doctor and other professionals)