State Bank of India (SBI) Personal Loan

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.

SBI Personal loan details:

Interest rates 12.15% - 15.15%
Processing fees 1% of the Loan amount + GST
Prepayment charges Nil
Repayment options Upto 5 years
Maximum loan amount Rs.15 Lakh
Loan approval time 10 Minutes

₹ 273,923 crores worth of Personal Loan Applications received! (last updated on 15 October 2018)

Get Instant Quotes on Interest Rates & Eligibility on Personal Loans by Top 10 Banks & your CIBIL score absolutely FREE.

Loan Amount
Employment Status
City

SBI Personal Loan Interest Rates - Updated as on 15 October 2018

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% 11.65% - 14.65% 11.60%
Xpress Credit Loan (IT Employees) SBI Salary Package Ac holders Non-Permanent Employees (NPEs)
13.05% - 15.05% 10.65% - 12.15% 12.55% - 14.90%
Jai Jawan Pension Loan Pension loans to Coal Mines PF Clean Overdraft Loan
11.60% 11.60% 16.70%
OD for E-commerce purchases Loan against shares Loan against NSC / KVP
13.75% 10.65% 12.80%

Get gifts upto ₹ 18,490 on disbursal.

Refer to T&C - www.deal4loans.com/personal-loan-offers.php


Salaried (Salaried Class)
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)
  • Passport size photograph
  • Identity proof
  • Office address proof (self-employed and professionals). The documents can be shop/establishment certificate, lease deed or telephone bill
  • Latest salary slip and Form 16 (salaried persons)

• Maximum loan repayment tenure is 48 months (4 years)
• Processing fee is 2% - 3% of loan amount.
• No prepayment charges
• You can increase your loan eligibility by making your spouse a co-borrower.

Personal Loan EMI Calculator
Loan AmountROI %

Tenure

(years)

Monthly EMITotal Interest AmountTotal Amount with Interest
2,00,000 12.45% 3 6686 40693 240693
2,00,000 14.95% 4 5561 66932 266932
2,00,000 16.55% 4 5725 74778 274778
Here, an EMI table for an amount of 2,00,000 for the tenure of 3 and 4 years is respectively shown with different ROI percentage where the calculated monthly EMI, Total Interest Amount and Total Amount with Interest is demonstrated.

SBI Xpress Credit Personal Loan

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.
  • Minimum EMI per lakh Rs. 2,616 - Rs. 2,765 for 4 years.
  • Interest Rates - 11.65% - 14.65% p.a
  • Security - NIL
  • Processing Fees - SBI charges 1% of loan amount + applicable taxes
  • Part payment charges - 6 months to 60 months (or residual service period whichever is lesser)

SBI Xpress Credit Personal Loan Eligibility


SBI provides Xpress Credit personal loan to the employees of undernoted entities maintaining salary account with zero margin:
  • Central and State Government
  • Quasi-Government
  • Central PSUs
  • Profit making State PSUs
  • Education Institutions of National Repute
  • Selected Corporates
  • Minimum salary of Rs.7,500
Minimum Loan amount available under Xpress Credit Personal Loan
  • 24,000 for term loan
  • 10 lakhs for overdraft

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.

Security - NIL
Processing Fees - SBI charges 1% of loan amount + applicable taxes
Part payment charges - 6 months to 60 months (or residual service period whichever is lesser)
Minimum EMI per lakh Rs. 2,656 - Rs. 2,781 for 4 years.
Interest Rates - 12.45% - 14.95% p.a

SBI Pension Loan

Minimum EMI per lakh - Rs. 2,655 for 4 years
Interest Rates on SBI Pension Loan - 11.60% p.a.

Features & Benefits of SBI Pension Loan:
  • Low processing fee, no hidden charge, no pre-payment charges
  • Family pensioner (spouse authorised to receive pension after pensioner's death) can avail loan but the applicant should not be more than 76 years.
  • Maximum 50% amount of pension is considered for availing loan.
  • SBI charges processing fee of 0.51% of theamount (+applicable taxes) with minimum Rs 500/-). Processing fee is not charged from SBI Defence Pensioners.

Loan Amount For Central & State Government Pensioners:

  • Minimum loan amount is Rs 25,000
  • Maximum loan amount Rs 14 lakh for applicants below 72 years
  • Maximum of Rs 12 lakh for pensioners who are between 72 and 74 years
  • Maximum amount of Rs 7.5 lakh for applicants between 74 and 76 years
  • For family pensioners, minimum loan that can be availed is Rs 25,000.

Loan Amount For Defence Pensioners:

  • Minimum loan amount is Rs 25,000
  • Rs 14 lakh for applicants upto 72 years of age
  • Rs 12 lakh for pensioners between 72 and 74 years
  • Rs 7.5 lakh for applicants between 74 and 76 years (EMI / NMP not to exceed 50% in all the cases for Family Pensioners)

Loan Amount For Family Pensioners:

  • Minimum amont Rs.25,000
  • Rs.5 lakh for pensioners upto 72 years of age
  • Rs.4.5 Lakh for pensioners between 72 and 74 years
  • Rs.2.5 Lakh for pensioners between 74 and 76 years (EMI / NMP not to exceed 33% in all the cases for Family Pensioners)
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
Repayment Period: For Central & State Government Pensioners -
  • Minimum EMI per lakh - Rs. 2,614 for 4 years
  • Interest Rates on SBI Pension Loan - 11.60% p.a.

SBI Saral Personal Loan

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:
  • Salaried and working with any leading corporate house
  • Self-employed (engineer, doctor, architect, chartered accountant, MBA) with minimum 2 years' experience.
Minimum Loan Amount For SBI Saral Pension Loan
  • Rs.24,000 in metro and urban centres
  • Rs.10,000 in rural/semi-urban centres

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. Consolidated report says that SBI had a total income of Rs 2,57,289.51 crore as on March 31, 2015. SBI has total assets of over Rs 25,29,394 crore.
There are as many as 16,995 branches of SBI in India, including 190 in other countries. State Bank has an agreement with GE for its credit card services. It is the only bank in the country to figure in the Forbes list of 500. SBI holds a major market share in the fields of personal loan (20%), home loan (25.5%) and car loan (26%).
Riding high on its extensive reach, SBI is the most searched and preferred bank in India and is accessible from almost every part of the country

Other Products of State Bank of India:

SBI Home Loan
SBI Credit Card
SBI Car Loan
SBI Business Loan
SBI Property Loan
SBI Two Wheeler Loan
SBI Education Loan
SBI Fixed Deposit Rates

State Bank of India-
Head Office:

State Bank of India,
State Bank Bhawna, 8th Floor,
Madame Cama Road,
Mumbai-400021
Telephone No. 22029456 or 22029451, Fax no. 22885369.