SBI Personal Loan - Interest Rates, Eligibility, Documents

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
  • passport size photograph
  • identity document
  • Proof of office address (self-employed and professional). Documents can be shop/establishment certificate, lease deed or phone bill
  • Latest salary slip and form 16 (Salary Person)

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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