SBI Personal Loan - Interest Rates, Eligibility, Documents
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 |
SBI personal loan interest rates for different categories and different schemes are 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 for SBI personal loan
Salary (Salary category)
| compatibility | amount owed | Required documents |
| resident in India | Minimum 24 meters and city centers |
|
SBI Personal Loan EMI Calculator
Know how much EMI you have to pay for the loan amount; You can use this EMI calculator tool enter your loan amount, interest rate and repayment period for calculation.
Example: Suppose you have a loan amount of Rs 2 lakh in different years.
| amount owed | cost benefit | Management (years) | Monthly EMI | common 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 Kavach Personal Loan
| credit facility | Term loan |
| processing fee | None |
| Security | None |
| prepayment penalty | None |
| amount owed | 25000 - 5 min |
| Loan Term / Repayment Period | 5 years / up to 60 months |
| interest rate | 8.50% unskilled |
SBI Pension Loan
Eligible for all central and state government pensioners, defense pensioners and family pensioners. Loan for child marriage, home purchase, travel/international travel or medical treatment Apply for Pension Loan at all branches of SBI Bank .
| credit facility | Term loan |
| processing fee | Not available on 31.03.2022 |
| Security | None |
| prepayment penalty | 3% |
| amount owed | 7.50 lakh - 14 lakh for central and defense, 2.50 for family pensioners on the 5th day. |
| Loan Term / Repayment Period | 5 years / up to 60 months |
| interest rate | 9,75% - 10,25% |
| age | Not more than 76 years |
Pensioners of Armed Forces including Army, Navy and Air Force, Para-Military Forces (CRPF, CISF, BSF, ITBP etc.), Coast Guard, Rashtriya Rifles and Assam Rifles are eligible for Defense Pensioners.
Personal loan with SBI Express Loan
Exclusive personal loan scheme for SBI Salary account holders Get a loan for weddings, holidays, unplanned emergencies or planned purchases of electronics, gadgets or more. Get instant approval and fast disbursal with minimal documentation through SBI Express Loan Scheme.
| credit facility | Term loan / Overdraft |
| processing fee | Not available on 31.03.2022 |
| Security | None |
| prepayment penalty | 3% |
| loan amount max | Upto 20 Lakhs / Upto 5 Lakhs |
| Loan Term / Repayment Period | 5 years / up to 60 months |
| interest rate | 9.60% - 11.35% p.a. |
SBI Personal Loan Schemes
I. Express Credit (including PAXC-Pre-approved Express Credit)
Average ROI for Express Loan: Jan-Mar'21 - 10.90%
a. Defense / Para-Military / Indian Coast Guard Salary Package for Applicants
i) Term Loan Facility:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 3,40% - 3,90% | 10,60% - 11,10% |
ii) 'Overdraft' Facility:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 3,90% - 4,40% | 11,10% - 11,60% |
B For other applicants:
i) Term Loan Facility:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 3,40% - 5,40% | 10,60% - 12,60% |
ii) 'Overdraft' Facility:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 3,90% - 5,90% | 11,10% - 13,10% |
Note for Loans under the Express Loan Program: The following categories of borrowers will receive special discounts:
| Criteria | discount offer |
|---|---|
| loan amount >= Rs.10,00,000. | 50 bps interest rate |
| Platinum Pay Package customers | 50 bps interest rate |
| Central Public Sector Enterprises (CPSEs) are considered under "Ratna" status | 50 bps interest rate |
- 100 bps cumulative maximum discount on Card Rate II . Express Elite Scheme i. SBI Salary Package Account Holder:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 2,40% - 3,90% | 9,60% - 11,10% |
ii. Salary Package Account Holders (including applicants who do not have a Salary Account with our Bank):
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 2,65% - 4,15% | 9,85% - 11,35% |
III. Express Credit - Non-Permanent Employees (NPES) i. Central and State Governments, Semi-Governments, Central Public Sector Undertakings, State Public Sector Undertakings, Defense Staff, Educational Institutions of National Reputation:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 4,30% - 6,40% | 11,50% - 13,60% |
ii. Co-operatives/societies and unrated corporates not included in Standing Express Credit Credit Scheme:
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
|---|---|---|
| 7,20% | 5,05% - 6,65% | 12,25% - 13,85% |
Fourth. Other unsecured personal loans Average return on pension loan: Jan-Mar'21 - 9.83%
|
Other unsecured personal loans |
|||
|---|---|---|---|
| Plano | Updated | ||
| 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset | |
| Pension Loan (Including PAPNL-Pre Sanctioned Pension Loan) | 7,20% | 2,55%-3,05% | 9,75% -10,25% |
| pure overdraft | 7,20% | 8,45% | 15,65% |
| fast credit insta loading | 7,20% | 3.50% | 10,70% |
| Other unsecured personal loans | |||
| Plano | 1 MCLR | MCLR is spread over 2 years | effective interest rate reset |
| Pre-Approved Personal Loan (PAPL) | 7.00% | 5,60% | 12,60% |
| Plano | 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
| SPL. papa | 7,20% | 2,40% | 9,60% |
|
SBI Instant Personal Loan through CLP Portal |
|||
|---|---|---|---|
| Plano | 2 MCLR | MCLR is spread over 2 years | Effective interest rate without reset |
| SBI Instant Personal Loan through CLP Portal | 7,20% | 3,65 - 5,65% | 10,85% - 12,85% |
(0.25% more than Express Credit scheme for all brackets)
SBI Personal Loan Customer Care Number Toll Free Number
If customers/borrowers have any queries/complaints/problems regarding personal loan from State Bank of India, they can contact customer care on below toll free numbers.
- 1800-11-2211
- 1800-425-3800
Check SBI Personal Loan Status on Apply / Loan Inquiry
You can check your State Bank of India personal loan status through the methods mentioned or described here: Check your SBI personal loan application status here.
About State Bank of India
SBI is the country's largest lender and is headquartered in Mumbai, Maharashtra. It is majority owned by the Government of India. SBI is ranked 236th in the Fortune Global 500 list of the world's largest corporations for 2019.
It is India's largest bank with a market share of 23% of assets in addition to a quarter of the total loan and deposit market. Maximum Bank branches with 22,010 locations. Revenue ₹2.79644 trillion (US$39 billion) (2019). Currently, the number of employees working in SBI is 257,252 people (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
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