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 | 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 |
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% |
Refer to T&C - www.deal4loans.com/personal-loan-offers.php
| 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) |
|
| Loan Amount | ROI % | Tenure (years) |
Monthly EMI | Total Interest Amount | Total 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 |
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 - NILLoan Amount For Central & State Government Pensioners:
Loan Amount For Defence Pensioners:
Loan Amount For Family Pensioners:
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 - NILAbout 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