EMI: ₹1,25,058/month at 8.7%. Min income: ₹2,40,497/month.
A ₹1 Crore loan against property from SBI at 8.7% interest for 10 years will cost you ₹1,25,058 per month as EMI. You will pay a total interest of ₹50,06,960 over the loan tenure. The minimum monthly income needed is ₹2,40,497 (assuming no existing EMIs).
SBI Loan Against Property EMI for ₹1 Crore at 8.7% for 10 years is ₹1,25,058 per month.
You need a minimum monthly income of ₹2,40,497 for a ₹1 Crore loan against property from SBI (at 8.7% rate, assuming no existing EMIs).
The total interest payable on ₹1 Crore loan against property from SBI at 8.7% for 10 years is ₹50,06,960.
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.