EMI: ₹12,506/month at 8.7%. Min income: ₹24,050/month.
A ₹10 Lakh loan against property from SBI at 8.7% interest for 10 years will cost you ₹12,506 per month as EMI. You will pay a total interest of ₹5,00,720 over the loan tenure. The minimum monthly income needed is ₹24,050 (assuming no existing EMIs).
SBI Loan Against Property EMI for ₹10 Lakh at 8.7% for 10 years is ₹12,506 per month.
You need a minimum monthly income of ₹24,050 for a ₹10 Lakh loan against property from SBI (at 8.7% rate, assuming no existing EMIs).
The total interest payable on ₹10 Lakh loan against property from SBI at 8.7% for 10 years is ₹5,00,720.
SBI charges a processing fee of 0.50% of loan amount + GST for Loan Against Property.
SBI Loan Against Property prepayment policy: Nil for floating rate.