In our day-to-day life, even on special occasions and situation of emergency we require a good amount of funds to meet our financial needs and liabilities. We generally spend money on vacation, education, property, vehicles, marriage, medical emergency as well. There are situations when we have to arrange hefty amount within shorter duration. To meet the financial needs in such situations, personal loans play a vital role.
State Bank of India, one of the biggest lenders in the country, offers a range of personal loan schemes to help you out in times of distress. State Bank of India offers personal loan under four categories - SBI Pension Loan, SBI Xpress Credit Personal Loan, SBI Saral Personal Loan and SBI Festive Season Loan. Compare SBI with other Personal loan banks for Interest Rates.
|Interest rates||9.60% - 15.15%|
|Processing fees||NIL upto 31.01.2022|
|Repayment options||Upto 5 years|
|Maximum loan amount||Rs.15 Lakh|
|Loan approval time||10 Minutes|
SBI Personal loan Interest Rates under various categories & different schemes as follows:
|SBI Xpress Bandhan Loan||Xpress Credit Personal Loan||SBI Pension Loan|
|12.15% - 15.15%||9.60% - 13.85%||9.75% - 10.25%|
|Xpress Credit Loan (IT Employees)||SBI Salary Package Ac holders||Non-Permanent Employees (NPEs)|
|9.60% - 11.10%||9.85% - 11.35%||11.50% - 13.85%|
|Jai Jawan Pension Loan||Pension loans to Coal Mines PF||Clean Overdraft Loan|
|SBI Quick Personal Loan||Loan against shares||Loan against NSC / KVP|
|10.85% - 12.85%||9.25% - 11.90%||12.80%|
|Eligibility||Loan Amount||Documents Required|
|Resident of India||Minimum - Rs 24,000 in metro and urban centres and Rs 10,000 in rural/semi-urban centres
Maximum: 12 times net monthly imcome (salaried and pensioners)
हिंदी में जानकारी के लिए, यहाँ SBI पर्सनल लोन हिंदी में पढ़ें
To figure out how much emi for the loan amount you have to pay for; you can use this emi calculator tool. For calculate you can just enter your loan amount, interest rate & tenure repayment period.
For Example: assume you taken a loan amount of Rs.2 lakh for various years @ different rate of interest than your loan calculations are as below:
|Loan Amount||ROI||Tenure(years)||Monthly EMI||Total Interest|
|2,00,000||12.45%||3||₹ 6686||₹ 40693|
|2,00,000||14.95%||4||₹ 5561||₹ 66932|
|2,00,000||16.55%||4||₹ 5725||₹ 74778|
SBI offers loan upto 24 times of net monthly income for salaried class individuals and pensioners. The maximum limit for personal loan is Rs.15 lakh.
Processing Fees: For Central & State Government Pensioners (including Family Pensioners) - 0.50% of the Loan Amount + applicable tax subject to Minimum of Rs. 500
For Defence Pensioners – NIL
Saral personal loan is available for any legitimate purpose to those working in corporate sector, self-employed, engineers, doctors, architects, chartered accountants, MBA with two years of employment.SBI Saral Personal Loan Eligibility You are eligible for SBI Saral Personal Loan if you are:
SBI offers loan upto 12 times of net monthly income for salaried class individuals and pensioners. The maximum limit for personal loan is Rs.10 lakh.
Security - NIL
Processing Fees - SBI charges 2% - 3% of loan amount + applicable service tax
Repayment Period - 48 EMIs
About State Bank of India
SBI is the largest lender in the country and has its headquarters in Mumbai, Maharashtra. The majority is owned by the Government of India. SBI is ranked as 236th in the Fortune Global 500 list of the world's biggest corporations of 2019.
It is the largest bank in India with a 23% market share in assets, besides a share of one-fourth of the total loan and deposits market. Highest Bank branches with 22,010 locations. Revenue ₹2.79644 trillion (US$39 billion) (2019). Number of employees at present working in SBI are 257,252 (March 2019). "Best Transaction Bank & Best Payment Bank in India" Award for 2019.
State Bank of India Head Office Address:
State Bank of India, State Bank Bhawna, 16th Floor, Madame Cama Road, Mumbai-400021