How long does it take to get a loan against a property in SBI?

The whole process of getting a loan against property from SBI may take anywhere from 1- 2 weeks depending on the documents submitted by the borrower and other formalities.

What is the minimum credit score for an SBI loan against property?

SBI asks for a decent credit score of 650 and above from those keen to apply for a loan against property.

What happens if a SBI loan against property is not paid?

If an SBI LAP is not repaid on time, it may result in late payment charges, impact the credit score of the borrower, and may even lead to a property auction.

What is the rate of loan against property in SBI?

The rate of interest on SBI Loan Against Property ranges between 10.10% - 11.65% per annum.

Can you get a 100% loan against the property in SBI?

No, it is not possible to get a 100% loan against property in SBI. However, you can get up to 65% LTV for loans up to Rs. 1 crore and up to 60% LTV for loans between 1 to 5 crore.

How will I know if my SBI Loan Against Property application is approved?

SBI follows a systematic approach to notify borrowers about the status of their loan against property application. They will send a formal loan sanction letter to the borrower’s registered address and an email or SMS notification for the same.