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 9.60% - 15.15%
Processing fees NIL upto 31.01.2022
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 20 September 2021)
Get Instant Quotes on Interest Rates & Eligibility on Personal Loans by Top 10 Banks & your CIBIL score absolutely FREE.
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SBI Personal Loan Interest Rates - Updated as on 20 September 2021

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
9.75%-10.25% 9.75%-10.25% 15.65%
SBI Quick Personal Loan Loan against shares Loan against NSC / KVP
10.85% - 12.85% 9.25% - 11.90% 12.80%

List of Documents required of SBI Personal Loan

Salaried (Salaried Class)
EligibilityLoan AmountDocuments Required
Resident of IndiaMinimum - 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)

हिंदी में जानकारी के लिए, यहाँ SBI पर्सनल लोन हिंदी में पढ़ें

SBI Personal Loan EMI Calculator

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 AmountROITenure(years)Monthly EMITotal Interest
2,00,00012.45%3₹ 6686₹ 40693
2,00,00014.95%4₹ 5561₹ 66932
2,00,00016.55%4₹ 5725₹ 74778

Available Personal Loan Types of State Bank of India

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)
  • Minimum salary of Rs.7,500

SBI Xpress Credit Personal Loan Eligibility

SBI provides Xpress Credit personal loan to the employees of under noted 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 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.

SBI Pension Loan

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 the amount (+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

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

SBI Personal Loan Customer Care Number Toll Free Number

If customers / borrowers have any queries/complaints/issues related to personal loan from State Bank of India, They can talk to a customer care executive at below mentioned toll free numbers.
  • 1800-11-2211
  • 1800-425-3800

Check SBI Personal Loan Status of Application / Loan Query

You can check your personal loan status in State bank of India, via these methods which are mentioned or illustrated here: check your SBI Personal Loan application status here

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

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