SBI Personal Loan interest rates start at 10.30% p.a. Apply loan up to Rs. 20 Lakhs for maximum repayment tenure of 72 months. Check loan eligibility online and get SBI instant Personal Loan approval for an attractive interest rate.
|Interest Rate||Starting at 10.30% p.a.|
|Minimum loan amount||Rs. 25,000 for Term Loans and Rs. 5 Lakhs Overdraft Loans|
|Maximum loan amount||Rs. 20 Lakhs for Term Loans as well as for Overdraft Loans|
|Repayment tenure||6 months to 6 years|
|Processing fee||1.50% of loan amount (Min Rs.1,000 & Max Rs. 15000) + GST||Prepayment charges||Nil, if the account is closed from the proceeds of a new loan account under the same scheme. 3% in other cases.|
|Minimum income required||Rs. 15,000|
|Eligibility age||21 years to 58 years|
The SBI Personal Loan EMI calculation can happen on the basis of reducing balance method, i.e., interest on your next EMI is calculated on the outstanding loan amount. This method reduces the interest outgo considerably.
SBI Personal Loan of 1 Lakh for different interest rates and tenures.
|Applicable Interest Rate||Repayment Tenure||EMI (per lakh)||Total Interest||Total Payment|
|10.30%||1 year||Rs. 8,806||Rs. 5,667||Rs. 1,05,276|
|10.70%||2 year||Rs. 4,647||Rs. 11,525||Rs. 1,11,525|
|11.50%||3 year||Rs. 3,298||Rs. 18,714||Rs. 1,18,714|
|12.60%||4 year||Rs. 2,663||Rs. 27,821||Rs. 1,27,821|
|15.65%||6 year||Rs. 2,150||Rs. 54,797||Rs. 1,54,797|
To complete your application, you need to furnish the following SBI Personal Loan Documents:
Salaried employees & Self employed
Additional Info: Also check sbi balance check number
After your SBI Personal Loan application is submitted you receive a reference number. Using this unique reference number you can check the SBI loan status of your application.
Steps for checking SBI application status:
Additional Info: Also check SBI Net Banking facility.
SBI personal loan interest rate 2022 depends on the type of loan applied for, applicant’s occupation, cibil score and repayment capability, and the factors. You can apply for the loan online to get the best interest rate possible. Below is the list of current SBI personal loan interest rate:
1. Xpress Credit (including Pre-Approved Xpress Credit)
|Defence/ Paramilitary/ Indian Coast Guard Salary Account Holders|
|Term Loan||10.30% to 12.80%|
|Overdraft||10.80% to 12.10%|
|Term Loan||10.30% to 11.80%|
|Overdraft||10.80% to 13.60%|
Special 50 bps concession in the rate of interest is available to the following category of borrowers:
2. Xpress Credit – Non-Permanent Employees
|Type of Applicant||Rate of Interest|
|Central/ State/ Quasi Govt., Central/ State PSUs, Defence Personnel, and Educational Institutions of National Repute||10.30% – 12.80%|
|Co-operatives/ Institutions that are not covered under regular Xpress Credit scheme & Unrated Corporates||11.30% – 13.60%|
3. Xpress Elite Scheme
|Type of Applicant||Rate of Interest|
|SBI Salary Account Holders||10.30% to 11.80%|
|Other than Salary Account Holders||10.55% to 12.05%|
4. Other Unsecured Personal Loans
|Scheme||Rate of Interest|
|Pension Loan (including Pre-Approved Pension Loans)||10.45%|
|Xpress Credit Insta Top-Up||11.40%|
|Pre-Approved Personal Loans||13.30%|
|Special Pre-Approved Personal Loan||10.10%|
|SBI Quick Personal Loans through CLP Portal||10.55% to 12.85%|
Find below SBI Personal Loan Customer Card Number & other details
24X7 toll free numbers: 1800112211/18004253800
Email ID: firstname.lastname@example.org
Deputy General Manager,
Customer Service Dept.
State Bank Bhawan, 4th Floor, Madame Cama Road, Mumbai – 400021
SBI has announced the launch of a new personal loan product for salary account holders under its flagship personal loan product Xpress Credit on YONO. The new product is Real Time Xpress Credit (RTXC) and it will allow salaried customers to avail of personal loans up to Rs. 35 Lakhs without any paperwork. Customers will no longer be required to visit the branch as the entire process will be paperless. The end-to-end journey of just 8 steps will be easy and instant for the customers.
Under the new product, central, state government and defence salaried customers of SBI can apply for loans. The credit checks, eligibility, approval and documentation will be done in real-time digitally.