Things Everyone Should Know to Apply for SBI Personal Loan Online

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Things Everyone Should Know to Apply for SBI
Personal Loan Online
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Charges Fees of SBI Personal Loan
Loan Amount ? 50,000 to ? 15 lakhs
Interest Rates Starts from 12.50 to 16.60 per annum
Repayment Tenure 12 months to 48 months
Processing Fee 2 to 3 of the principal loan amount
Cheque Return/ECS failure charges ? 250 for each instance of EMI payment failure
Loan Pre-closure Charges 3 on the remaining amount
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Types of SBI Personal Loans

• There are 3 kinds of SBI personal loan for
  various needs so you need to look that which one
  is made for you and for that loan what criteria
  you need to fulfill.
• SBI Xpress Credit Personal Loan
• SBI Personal Loan for Pensioners
• SBI Xpress Power Personal Loan

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SBI Personal Loan EMI Calculator

• The SBI Personal Loan EMI Calculator is a simple
  tool to calculate your EMI amount before applying
  and getting a loan.
• The calculator tells the exact amount you will
  pay as an EMI after taking a personal loan from
  the SBI.
• With the help of the EMI calculator, you can
  choose a principal loan amount, interest rate and
  repayment tenure according to your convenience.

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Formula of SBI Personal Loan EMI Calculator

• E Pr(1r)n/(1r)n-1
• Where,
• E is an SBI personal loan EMI.
• P is the principal loan amount you wish to borrow
  from SBI.
• r is the interest rate offered by SBI.
• n is the repayment tenure in months.
• For example If you want to take a personal loan
  from SBI of ? 5 lakhs at an interest rate of
  12.50 per annum for tenure of 3 years, then you
  will pay an amount of ? 16,726.81 as your monthly
  instalment.

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Thank You !!!