State Bank of India (SBI) is a popular financial institute offering various Kolkata products. Loan against property (LAP) is a particular segment that increased based on economic. SBI LAP interest rate in Kolkata @ 10% p.a. with 15 years tenure.
SBI Loan Against Property Kolkata Recap
| Loan Amount | Up to 1 crore |
| Interest Rates | 10% to 11.30% p.a. |
| Processing Charge | 1% plus GST charge |
| Repayment Term | Up to 15 years |
| Minimum income | Rs. 25,000 per month |
Benefits of SBI Loan Against Property
Higher Amount: Get the maximum loan against your property valuation. Increase your loan amount up to 1 crore.
Wide Branches: State Bank of India has multiple branches all over India. You can apply for a mortgage loan from your nearest branch.
Low Interest Rates: Obtain an SBI mortgage loan at 10% interest. The rate is much more competitive when compared with personal loans or business loans.
Minimal Processing Charge: SBI loan against property processing fee is 1% which is minimal compared to other finance.
Flexible Term: Enjoy a long repayment term of up to 15 years. You can extend your loan term as required.
No Hidden Fees: Applying for an SBI mortgage loan is no hidden fee.
Also Read: Mortgage Loan at 12000 Salary
SBI Loan Against Property Kolkata Interest Rates
Interest reset every year depending on the Marginal Cost of Funds based Lending Rate (MCLR). Check out the interest rate below:
For Salaried Person
| Loan Amount | Rate of Interest |
| Up to 1 crore | 1.45% plus 1 yr MCLR |
| From Rs. 1 crore to Rs. 2 crore | 2.10% plus 1 yr MCLR |
| From Rs. 2 crore to Rs. 7.50 crore | 2.50% plus 1 yr MCLR |
For Self Employed Person
| Loan Amount | Rate of Interest |
| Up to 1 crore | 2.10% plus 1 yr MCLR |
| From Rs. 1 crore to Rs. 2 crore | 2.60% plus 1 yr MCLR |
| From Rs. 2 crore to Rs. 7.50 crore | 3.00% plus 1 yr MCLR |
SBI Loan Against Property Eligibility
- Borrower residence proof should be in India.
- Age is between 21 to 70 years.
- A self-employed or salaried person is eligible.
- A credit score is 730 or above is eligible for an SBI mortgage loan.
Top Banks Loan Against Property Interest Rates
| Lenders | Interest Rates (p.a.) |
| State Bank of India | 10.00% – 11.30% |
| LIC Housing Finance | 9.70% – 11.55% |
| IDFC First Bank | 9.00% – 20.00% |
| Federal Bank | 11.15% – 14.80% |
| Home First | 12.80% – 18.50% |
| HDFC Bank | 9.50% – 11.00% |
| Kotak Mahindra Bank | 9.50% – 10.50% |
| PNB Housing Finance | 9.24% – 12.45% |
| Bank of Baroda | 10.85% – 16.50% |
| ICICI Bank | 10.85% – 12.50% |
| Tata Capital | 10.10% |
| Bajaj Housing Finance | 9% – 14% |
SBI Loan Against Property EMI Calculator
Calculate interest and monthly EMI from 24hrLoan EMI Calculator. This tool provides results with accuracy.
Provide Information for EMI Calculate:
- Principal Loan Amount
- Loan Repayment Term
- Interest Rate of Loan Amount
EMI Calculation of SBI Loan Against Property
| Loan Amount | Tenure | Interest Rate | Monthly EMI |
| Rs. 200000 | 3 years | 10.50% p.a. | Rs. 6501 |
| Rs. 300000 | 3 years | 10.60% p.a. | Rs. 9765 |
| Rs. 400000 | 4 years | 10.70% p.a. | Rs. 10281 |
| Rs. 500000 | 5 years | 10.90% p.a. | Rs. 10847 |
| Rs. 600000 | 5 years | 11.00% p.a. | Rs. 13046 |
| Rs. 700000 | 6 years | 11.20% p.a. | Rs. 13396 |
Also Read: Get an Instant Loan Up To 10 Lakh
Conclusion
SBI provides affordable interest rates for LAP(Loan Against Property) in Kolkata. Get flexible repayment terms with no extra fees. However, borrowers must compare other lenders for better interest, fees, and other charges. Also, you can talk with SBI employees for consulting.