Benefits of the SBI Advantage Loan Against Property:
· Complete transparency in operations
· Access this loan from our wide network of branches
· Interest rates are levied on a monthly/daily reducing balance method
· Lowest processing charges.
· Long repayment period of 60 months, upto 120 months for salaried individuals with check-off facility
· No Hidden costs or administrative charges.
· No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.
ility : You are eligible if you are:
A. An individual who is;
a. An Employee or
b. A Professional, self-employed or an income tax assesse or
c. 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.
C. Maximum age limit: 60 years.
Processing Fees - 2% of the loan amount [inclusive of the service tax]. Max of Rs. 50,000/-
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 (Net of all deductions including TDS) OR
2 times the net annual income of others (income as per latest IT return less taxes payable)