SBI Personal Loan

SBI Personal Loan

SBI Personal Loan

Home State Bank of India SBI Personal Loan

SBI offers individual advance @ 9.60% p.a. onwards of up to Rs 20 lakh for residencies of as long as 6 years. It likewise offers annuity advance of up to Rs 14 lakh for residency of as long as 7 years. SBI additionally offers pre-endorsed individual credit with moment advance disbursal.

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Refreshed: 16-05-2022 13:41:54 PM

SBI Personal Loan Highlights – May 2022

Premium rate    9.60%-13.85% p.a.

Advance Amount             Up to Rs 20 lakh

Tenure Up to 6 years

Least Monthly Salary      Rs 15,000

Handling Fee      NIL

List of chapters

•             Financing costs

•             Examination of SBI Personal Loan versus Other Lenders

•             Expenses and Other Charges

•             Kinds of SBI Personal Loans

•             Qualification Criteria

•             Reports Required

•             EMI Calculator

•             FAQs

SBI Personal Loan Interest Rates

Coming up next are the different individual credit loan fees presented by SBI to various classes of borrowers:

For Defense/Para-military/Indian Coast Guard Salaried Applicants

Term Loan           10.60%-11.10% p.a.

Overdraft            11.10%-11.60%

For Other Applicants

Term Loan           10.60%-12.60% p.a.

Overdraft            11.10%-13.10% p.a.

Exceptional concessions in Interest Rate for SBI Personal Loan

Criteria Concession Offered

Credit sum >= Rs 10 lakh               50 bps in pace of interest

Platinum compensation bundle account holders               50 bps in pace of revenue

Focal Public Sector Units under ‘RATNA’ status   50 bps in pace of interest

Xpress Elite Scheme

For Salaried Account Holders      9.60%-11.10% p.a.

Other than Salaried Account holders (counting those not having compensation account with the bank)  9.85%-11.35% p.a.

Xpress Credit Non-Permanent Employees

Representatives from Central/State Government, Quasi Government, Central/State PSUS, Defense Personal, Educational organizations of National reputation       11.50%-13.60% p.a.

Co-agents/establishments not covered under normal Xpress Credit Loan Scheme and Unrated Corporates          12.25%-13.85% p.a.

Other Unsecured Personal Loans

Benefits Loan (counting Pre-Approved Personal Loans) 9.75%-10.25% p.a.

Clean Overdraft                15.65% p.a.

Xpress Credit Top-up     10.70% p.a.

Pre-Approved Personal Loan (PAPL SBI)                12.60 % p.a.

SPL, PAPL            9.60% p.a.

SBI Quick Personal Loan through CLP Portal         10.85%-12.85% p.a.

Examination of Interest Rates of SBI Personal Loan versus different Lenders

Banks/NBFCs     Interest Rates (per annum)

SBI          9.60% – 13.85%


10.25% – 21%


10.25% onwards

Pivot Bank

10.25% onwards

Kotak Mahindra Bank

10.75% onwards

IndusInd Bank

10.49% onwards

IDFC First Bank

10.49% – 23%

Bajaj Finserv

13.00% onwards

Goodbye Capital

10.99% onwards

Note: The previously mentioned financing costs might change and will rely upon the sole prudence of the bank, NBFC and RBI.

Likewise Get – Comparison Table of Personal Loan Interest Rates Offering by Various Lenders

SBI Personal Loan Processing Fees and Charges

SBI Xpress Credit

Pre-installment Charges               3% on prepaid sum

Corrective Interest          @ 2% each month

SBI Quick Personal Loan

Corrective Interest          @2% each month

Pre-installment Charges               3% on prepaid sum

SBI Kavach Personal Loan

Handling Fees    NIL

Pre-installment penalty                NIL

Dispossession Charges  NIL

SBI Pension Loan

Pre-installment Charges               3% on prepaid sum

Dispossession Charges  NIL

EMI/NMP Ratio (Family Pensioners)       Up to 33% in the event of

EMI/NMP Ratio (other pensioners)         Up to half

Sorts of SBI Personal Loans

1. SBI Xpress Credit Personal Loan

•             Reason: For salaried record holders at SBI, to meet their own necessities

•             Credit Amount: Up to Rs 20 lakh

•             Residency: a half year 6 years

2. SBI Pre-supported Personal Loan (PAPL SBI)

Reason: Instant individual credits proposed to choose clients through YONO application.

Credit Amount: Up to Rs 8 lakh

3. SBI Quick Personal Loan

•             Reason: To meet the individual prerequisites of the salaried borrowers not keeping up with salaried record with SBI

•             Credit Amount: Up to Rs 20 lakh

•             Residency: a half year 6 years

•             Handling Fees: 1.50% of the advance sum (Rs 1,000-15,000) + GST

4. SBI COVID Personal Loan

•             Reason: For Covid treatment of self or relatives

•             Credit Amount: Rs 25,000-Rs 5 lakh

•             Residency: Up to 5 years

•             Handling Fees: NIL

5. SBI Pension Loan

•             Reason: To meet the monetary necessities of focal/state government retired people, protection beneficiaries and family beneficiaries

•             Credit Amount:

For Central/State Government Employees-Up to 14 lakh

For Defense Pensioners-Up to 14 lakh

For Family Pensioners-Up to 5 lakh

•             Residency:

For Central/State Government Employees-Up to 5 years

For Defense Pensioners-Up to 7 years

For Family Pensioners-Up to 5 years

Qualification Criteria for SBI Personal Loan

Coming up next are the key qualification rules for various kinds of SBI individual credits at present on offer:

Qualification for SBI Xpress Credit Personal Loan (For salaried candidates)

•             Borrowers utilized with Central/State/Quasi-Government, Central/State PSUS, Selected corporates with/without relationship with the bank, broadly perceived instructive organizations

•             For salaried record holders with SBI

•             Least Monthly Income-Rs 15,000

•             EMI/NMI proportion under half

Qualification for SBI Quick Personal Loan

•             Representatives working with Central/State/Quasi-Government, Central and State PSUs, corporates and instructive organizations with something like 1 year administration

•             Age-21-58 years

•             Borrowers not having compensation account with SBI

•             Least Monthly Income-Rs 15,000

•             EMI/NMI proportion under half

Qualification for Pre-supported Personal Loan

•             For CSP and Non-CSP clients

•             For investment funds ledger holders

•             The SBI investment funds ledger holders could SMS the last 4 digits of SBI investment funds at any point financial balance no. to 567676 to really take a look at the qualification

Qualification for SBI Kavach Personal Loan

•             For salaried, non-salaried and annuity looking for account holders of the bank

•             Ought to have a Covid positive report not over 30 days old

Additionally Know: What is the qualification for SBI kavach individual credit

Qualification for SBI Pension Loan

For Central/State Government Pensioners

•             Mature Below 76 years

•             Annuity drawn through SBI

•             The retired person ought to give a permanent endeavor not to adjust the order to the Treasury during the credit residency

•             The Treasury ought to give recorded as a hard copy referencing that no exchange of annuity installment to some other bank without a NOC

•             All agreements are material, including ensure by an outsider or by the life partner

Qualification For Defense Pensioners

•             Greatest age-Up to 76 years

•             No base age

•             Retired people from military, for example, Navy, armed force, Air Force, Paramilitary Forces (BSF, CISF, CRPF, ITBP), Coast Guards, Assam Rifles, Rashtriya Rifles

•             Benefits record ought to be kept up with SBI

Qualification For Family Pensioners

•             Mature Up to 76 years

•             Approved individuals from the family to get benefits instead of the departed retired person

Likewise Read: What is the base CIBIL score for individual credit in SBI?

Archives Required for Loan Application

The archives to benefit SBI individual credit might differ relying on the individual advance class you select. Be that as it may, the rundown of essential records is as per the following:

•             Properly filled application structure alongside identification estimated photos

•             Personality Proof: Passport, PAN, Voter Identity Card, Driving License, Aadhaar Card

•             Address Proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property buy understanding (for claimed properties), Aadhaar Card

•             Pay Proof: Bank Account Statement, Salary Slips, ITR, Form 16

•             Some other record expected by SBI

SBI Personal Loan EMI Calculator

EMI Calculator


Loan cost





EMI Calculator

Month to month EMI₹ 15,622

Aggregate sum Payble₹ 5,62,395(Principal + interest)

Head Amount₹ 5,00,000

Absolute Interest Payble₹ 62,395

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