SBI Plot Loan

The above-mentioned interest rates are for the first five years.

1. For individuals who fall between Risk Grade 04 and Risk Grade 06, 10 bps will be added to the interest rate.
2. An additional 05 bps will be added to individuals who do not have a salary account with SBI.
3. A 5 bps concession on the interest rate will be given to women.

SBI Land Loan Pre-sanction Fee

1. An advocate’s fee will be charged for investigation and search report
2. A valuer’s fee also will be charged for the valuation report

SBI Land Loan Post-sanction Fee

1. Stamp duty charges will be levied for the loan agreement
2. Insurance charges will be levied on the borrower
3. Registration fee too will have to be borne by the borrower

SBI Plot Loan Eligibility Criteria

1. The applicant for the SBI plot loan must be an Indian resident
2. The applicant minimum Age: 18 years
3. The applicant maximum Age: 65 years
4. The maximum loan tenure for the SBI plot loan is 10 years

SBI Plot Loan Documents Required

1. Identification card from the employer
2. Duly filled loan application
3. 3 passport size photographs
4. Identity proof: Passport, Voters ID, PAN card, Driving licence
5. Proof of residence: Telephone Bills, Voters ID card,Electricity Bill, Property tax receipt, Passport
6. In case of non salaried applicants, a proof of business address must be provided
7. Bank statement or passbook statement for the last 6 months
8. Identification signatures from the current bank
9. Statement of personal liabilities and assets
10. Salary statement from employer in case of a salaried applicant
11. Form 16 / ITR of the last two years
12. Receipt of Income Tax paid in case of a self employed applicant
13. Copy of income returns in case of a self employed applicant

Additional documents to be submitted (Salaried and Self-employed)

There are certain additional documents which needs to be submitted by salaried and self-employed applicants when availing SBI plot loan.

For Salaried applicants:

1. Original salary certificate issued by employer
2. Copy of IT returns for last two financial years acknowledged by IT department/TDS certificate on Form 16

For self-employed applicants:

1. Copy of challans highlighting payment of Advance Income Tax
2. Copies of I.T. returns or assessment orders for the last three years

Documentation for guarantor, if applicable

1. Personal assets and liabilities statement
2. 2 passport size photographs
3. Identification documents as mentioned above
4. Proof of residence as mentioned above
5. Proof of business as mentioned above
6. Identification signatures from the present bank

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