State Bank of India Personal Loan

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SBI Personal Loan Interest Rate
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SBI Personal Loan Details

• SBI gives personal loan to borrowers who need
  funds to meet their urgent requirements. Benefits
  of taking personal loan from SBI are
• Nil prepayment charges on SBI personal loan
• Superior customer service and transparency
• Quick and easy approval
• SBI has been rated 3.6/5.0 by customers for its
  service quality on MyLoanCare
• SBI has over 25,332 branches in India where you
  can avail service
• SBI offers special schemes and discounts for
  employees of large companies

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SBI Personal Loan Rates

• In addition to its regular loan products, bank
  also offers customized loans for special
  categories of borrowers.Interest rates on key
  products of SBI have been tabulated in the table
  below
• SBI SARAL LOAN 17.65-17.65
• SBI XPRESS CREDIT LOAN- 11.90-15.00
• SBI PENSION LOAN- 12.45-12.45
• SBI FESTIVAL LOAN- 12.50-16.60
• SBI JAI JAWAN PENSION LOAN- 12.45-12.45

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SBI Personal Loan Details

• Purpose of Loan SBI personal loan can be used
  for any personal expenses which include travel,
  vacation, education, medical and other personal
  finance requirements. Bank does not allow
  speculative use of personal loans.
• Key Features
• Loan available for both salaried and self
  employed.
• Borrowers within the age group of 21 and 58
  years.
• Loan amount of minimum ? 50,000 to ? 15 Lakh.
• Loan Tenure 6 to 48 months.
• SBI personal loan rate of interest is in the
  range of 12.50 to 16.60.
• Lowest EMI of ? 2,658 per lakh.
• Processing Fees In the range of 2 to 3.
• Preclosure charges Preclosure of SBI personal
  loan is Allowed with Nil charges
• Part payment charges Allowed at Nil charges
• Other Charges Late EMI payment charges, EMI
  bounce charges, loan cancellation charges which
  are disclosed by the bank at the time of signing
  the loan agreement.
• Special schemes SBI offers customised personal
  loan interest rates and schemes for special
  category of borrowers including borrowers working
  in reputed companies, banks or government
  employees etc. Some of the special personal loan
  schemes of SBI

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Documents Required

• For salaried employees
• Filled up loan application form
• 2 Passport Size Photo
• Income Tax PAN Copy
• Identity Proof - Driving License/ PAN/ Passport/
  Voter ID
• Residential Address Proof - Registered Rent
  Agreement/ Passport/ Leave and License/ Utility
  Bill (upto 3 months old)
• Income Documents - 2 years Form 16, 3 month pay
  slip, 3 months bank statement showing salary
  credit and any EMI debit

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SBI Personal Loan Top Up

• Top up on personal loan is an additional loan
  that can be availed from your existing bank on
  your running loan or at the time of balance
  transfer of your loan to a new bank. You can get
  top up on personal loan from SBI if you have a
  regular repayment track record on your existing
  personal loan. Top up loans are available at
  similar interest rates as that on your existing
  personal loan. Current interest rate on SBI
  personal loan top up starts at 12.50.

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SBI Personal Loan Interest Rate Calculator

• You can get the best personal interest rates from
  SBI subject to an assessment of your loan amount,
  salary, other obligation company you work with
  and loan tenure. The following factors determine
  the personal loan rate of interest you can expect
  to get from SBI
• Loan Amount - This is the amount borrowed by a
  borrower from the bank. Generally banks offer
  lower interest rates for higher amount. SBI
  offers loan between ? 50,000 and ? 15 Lakh.
• Salary - Income defines your capacity to repay
  the loan. Higher salary bracket individuals are
  offered loans at lower interest rates. Interest
  rate of the bank varies with your net monthly
  income.
• Employer Category - SBI has an internal list of
  companies falling into categories that are ranked
  from high to low company categories based on
  companys size, reputation and existing
  relationship with the bank. Employees who belong
  to companies in higher company categories get
  attractive discounts and low interest rate loans.
• Relationship with the Bank - Bank offers special
  rates, offers and charges to the existing account
  holders of the bank. Those who have managed their
  accounts and made all the payments on time in
  past will get the benefit of low SBI loan
  interest rate.
• Loan Tenure - Personal loans are of shorter
  tenure ranges from 6 months to 48 months as they
  are taken to meet their immediate requirements.

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