SBI loan against property eligibility calculator India Jul 2017
SBI Loan Against Property Eligibility Calculator
|Eligibility Conditions||Salaried||Self Employed||Age||18 - 70 years||18 - 70 years|
|Rate of Interest||9.85%||9.85%||Lowest EMI Per Lakh||Rs. 1,065||Rs. 1,065|
|Maximum Loan Amount||Rs. 2,500,000||Rs. 2,500,000|
|Minimum Work Experience||2 year||5 year|
|Maximum Tenure||15 years||15 years|
Eligibility of Loan against Property depends upon different factors like:
- Applicant’s net monthly income should be at least Rs. 25,000 to get loan against property from SBI.
- An Employee/Self-Employed/or NRI having residential or commercial property in his/her own name in India.
- Up to 65% of the market value of property will be financed.
- CIBIL score is reviewed to know about your repayment history on credit cards or any existing loans. So generally score required for sanction of loan is 700 or above.
- In order to increase your loan amount or your eligibility you can add co-applicant in your loan ( your spouse, blood relatives, children, siblings).
Frequently Asked Questions
The factors that determine the eligibility criteria of SBI property loan are:-
- Age of the applicant
- Monthly income
- Existing liabilities
- CIBIL Score
- Value of the property to be mortgaged
The minimum income for salaried employee to get loan against property should be Rs. 25,000 per month.What is the minimum and maximum age required for SBI loan against property?
The minimum age of the applicant should be 18 years and maximum should be 70 years for loan against property from SBI.What is the tenure of SBI property loan?
SBI offers property loan for a tenure upto 15 years. However, longer the loan tenure, higher will be the eligibility.How much mortgage loan can be availed by the applicant?
An applicant can avail mortgage loan from SBI up to 65% of the market value of the property.