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 02 July 2022)
Get Instant Quotes on Interest Rates & Eligibility on Personal Loans by Top 10 Banks & your CIBIL score absolutely FREE.
Loan Amount
Employment Status
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SBI Personal Loan Interest Rates - Updated as on 02 July 2022

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

SBI KAVACH Personal Loan

It’s a special personal loan scheme for covid treatment of self or family member who are found covid positive on or after 01.04.2021
Loan Facility Term Loan
Processing Fee NIL
Security NIL
Pre Payment Penalty NIL
Loan Amount 25000 – 5 Lakh
Loan Tenure / Repayment Period Upto 5 Years / 60 Months
Rate of Interest 8.50% p.a

SBI Pension Loan

Eligibility for all Central & State Government Pensioners, Defence Pensioners & Family Pensioners. Get loan for Child’s Marriage, buy a home, travel / international travel or medical treatments. Apply for pension loan @ all SBI Bank Branches.
Loan Facility Term Loan
Processing Fee NIL till 31.03.2022
Security NIL
Pre Payment Penalty 3%
Loan Amount 7.50 Lakh – 14 Lakh for Central & Defence, 2.50 to 5 Lakh for Family Pensioners.
Loan Tenure / Repayment Period Upto 5 Years / 60 Months
Rate of Interest 9.75% - 10.25%
AGE Not more than 76 Years

Pensioners of Armed Forces, including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles and Assam Rifles are eligible under defence pensioners.

SBI Xpress Credit Personal Loan

A Special personal loan scheme for SBI salary account holders. Get loan for wedding, vacation, unplanned emergency or planned purchase of electronics, gadgets or other. Get quick approval and instant disbursal with minimum documentation through SBI Xpress Credit Scheme.
Loan Facility Term Loan / Overdraft
Processing Fee NIL till 31.03.2022
Security NIL
Pre Payment Penalty 3%
Loan Amount Maximum Upto 20 Lakh / upto 5 lakh
Loan Tenure / Repayment Period Upto 5 Years / 60 Months
Rate of Interest 9.60% - 11.35% p.a
 

SBI PERSONAL LOAN SCHEMES

I. XPRESS CREDIT(including PAXC-Pre-Approved Xpress Credit)

Mean ROI for Xpress Credit : JAN -MAR’21 – 10.90%

A. For Defence/ Para-Military/ Indian Coast Guard Salary Package Applicants

i) ‘Term Loan’ facility:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.40% - 3.90% 10.60% - 11.10%
ii) ‘Overdraft’ facility:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.90% - 4.40% 11.10% - 11.60%

B. For Other Applicants:

i) ‘Term Loan’ facility:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.40% - 5.40% 10.60% - 12.60%
ii) ‘Overdraft’ facility:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 3.90% - 5.90% 11.10% - 13.10%

Note for loans under Xpress Credit scheme: Following category of borrowers will get special concessions:

Criteria Concession Offered
Loan amount >= Rs 10,00,000. 50 bps in Rate of Interest
Platinum Salary Package customers 50 bps in Rate of Interest
Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status 50 bps in Rate of Interes
-Subject to total maximum concession of 100 bps over the Card rate II. XPRESS ELITE SCHEME i. SBI Salary Package A/c Holders:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 2.40% - 3.90% 9.60% - 11.10%
ii. Other than Salary Package A/c Holders (including Applicants not maintaining Salary A/c with our Bank):
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 2.65% - 4.15% 9.85% - 11.35%
  III. XPRESS CREDIT- NON-PERMANENT EMPLOYEES (NPES) i. Central and State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 4.30% - 6.40% 11.50% - 13.60%
ii. Co-operatives/ Institutions not covered under regular Xpress Credit loan scheme and Unrated Corporates:
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
7.20% 5.05% - 6.65% 12.25% - 13.85%
IV. OTHER UNSECURED PERSONAL LOANS Mean ROI for Pension Loan : JAN -MAR’21 – 9.83%
Other Unsecured Personal Loans
Scheme Revised
2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
Pension Loan(including PAPNL-Pre Approved pension Loans) 7.20% 2.55%-3.05% 9.75%-10.25%
Clean Overdraft 7.20% 8.45% 15.65%
Xpress Credit Insta Top-Up 7.20% 3.50% 10.70%
Other Unsecured Personal Loan
Scheme 1 year MCLR Spread over 2 year MCLR Effective Interest Rate Reset
Pre-Approved Personal Loans (PAPL) 7.00% 5.60% 12.60%
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
SPL. PAPL 7.20% 2.40% 9.60%
SBI QUICK PERSONAL LOANS THROUGH CLP PORTAL
Scheme 2 year MCLR Spread over 2 year MCLR Effective Interest Rate with No Reset
SBI Quick Personal loan Through CLP portal 7.20% 3.65 - 5.65% 10.85% - 12.85%
(0.25% higher than Xpress credit scheme. for all brackets)

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