Things To Know About SBI Personal Loan

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State Bank of India is a well-known and largest bank for the public sector. It offers financial help in the form of a personal loan to overcome any requirement that might occur in daily lives. Many borrowers prefer SBI personal loan over others due to its low processing charge and an amazing interest rate. On top of that, there is no requirement of collateral or security with SBI. SBI allows one to get a good amount as loan in a matter of a 3-5 business working days whether it is online apply or in a bank branch. It is essential to make sure that the documents are to the mark and there is no error during submission time.

Why Personal Loan SBI?

There are a number of reasons that makes SBI personal loan a good choice. One of the major factors is the SBI bank EMI calculator that allows easy calculation of total EMI to be paid per month. Other than this, there are several reasons that make SBI an ideal choice for a personal loan.
  • The total loan tenure goes up to 5 years while starting from 1 year.
  • SBI offers amazing interest rates for customers on different personal loan options.
  • There are no hidden charges with SBI and it has minimal processing fees.
  • As per the customer requirement, there can be multiple personal loans.
  • 24x7 customer service to help the customer with any loan-related query or to know about the SBI personal loan status.

Why SBI Personal Loan is an ideal choice?

There are so many features of SBI personal loan that makes it an ideal choice for customers.

  • Any individual can apply for a higher amount and it is possible that SBI will pass an application after checking essential documents.
  • The approval or rejection is done soon without delaying it for a week or two.
  • It is spread out all over India that allows an easy loan to apply at any part of the nation.
  • The total rate of interest is minimal or low that makes it easy for repayments.
  • For every borrower, there are specific schemes that are used in the loan.

SBI Personal Loan Essential Details

Processing Fees
GST + 1% of the loan amount
Interest Rate
12.15% - 15.15%
Repayment Options
1 to 5 years
Prepayment Charges
Nil
Loan Approval Time
Maximum of 10 minutes
Maximum Loan Amount
Till INR 15 Lakhs

SBI Personal Loan Details for Salaried and Self-Employed


Self-Employed
Salaried
Processing Fees
2% to 3%
2% to 3%
Interest Rate
11.20%
12.50%
Repayment Options
12-48 months
6-48 months
Prepayment Charges
Nil
Nil
Pre-closure Charge
No, charge, After 1 EMIs
No, charge, After 1 EMIs
Maximum Loan Amount
INR 15,000 to 50 Lakhs
INR 15,000 to 50 Lakhs

Types of SBI Personal Loan

Product
Interest Rate
SBI Xpress Credit Card Loan
11.90%-15%
SBI Saral Loan
17.65%
SBI Festival Loan
12.50%-16.60%
SBI Pension Loan
12.45%
SBI Jai JAwan Pension Loan
12.45%

SBI bank EMI calculator with the rate of interest can easily calculate the interest over a specific amount.
Location: India

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