(SBI) State bank of India Personal Loans from 11%
Get loan amount upto 30% with minimal documents at a low interest rate. Check the features and benefits of various types of SBI personal loans.
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SBI Personal Loans
SBI Offers personal loan for various purposes to Indian Banking customers with interest rates starting from 11.0% with enticing offers like low processing charges, low interest rates along with minimal documentation
SBI Personal Loan Types & Features
SBI Xpress Credit
Given to salaried employees having salary account with SBI
- Loan upto 30 Lakhs
- Zero Hidden costs
- Minimal documentation
- Low Processing fees
- Chance to get second loan
SBI Quick Personal Loan
Given to salaried employees who do not have their salary account with SBI,
- Loan upto 20 Lakhs
- Zero Hidden costs
- Minimal documentation
- Low Processing fees
- Chance to get second loan
SBI Pension Loan
A Loan given to pensioners that can used for a range of purposes
- Low Processing Fees
- No hidden costs
- Quick loan processing
- Easy EMIs through SI
Pre-approved Personal Loan
- Pre-approved loan provided to existing customers through YONO app
- Low Processing fees
- Instant Disbursement in just 4 clicks
- Zero Documentation
- No branch visit required
SBI Xpress Flexi
Provided to salaried customers whose monthly income is above 1 Lakh,
- Loan upto 35 Lakhs
- Low Interest rates
- Low Processing Charges
- No Hidden Costs
Realtime Xpress credit
It is a Loan given for Govt. and defence package customers.
- The maximum loan amount is Rs. 35 Lakhs
- Complete digitization process
- Aadhar OTP based e-sign of the customers
- Instant Loan disbursement
Eligibility criteria for SBI Personal Loan
The eligibility criteria varies for various types of personal loan offered by SBI:
Eligibility Based on Age
For Xpress Credit and SBI Quick Personal Loan, you must be aged atleast 21 years and below 58 years at the time of applying
For pension loan, you must be below 76 years and not more than 78 when the loan matures
Eligibility based on Salary
SBI Xpress credit, individuals must have an account with SBI. The minimum monthly income should be Rs. 15000
For Quick Personal loan, individuals can have salary account with other banks and the minimum monthly income should be Rs. 15000
CIBIL score
- For all types of Personal loan, SBI expects a credit score of atleast 750 in order to process the loan
- Work experience of 1 year atleast is preferred
- EMI/NMI Ratio: Less than 50% (NMI – Net monthly income)
Charges in SBI personal loan
| Interest rates | 10.75 – 18.5% |
| Loan Processing Charges | Upto 2% of Loan amount + taxes, For govt employees with salary accounts with BoB, there will be No processing fee |
| Prepayment charges | Nil |
| Penal Interest | @24% pa |
| Loan Tenure | For Govt employees – 5 years, for others – 4 years |
Fees and Charges
| Loan Scheme | Processing fee | Foreclosure charges |
| Xpress Credit | Waived off | 3% on the prepaid amount |
| SBI Pension | Waived off | – |
| Pre-approved loan | Bank’s discretion | – |
| Quick Personal loan | 1.5% of loan amount | 3% on the prepaid amount |
Documents required for SBI personal loan
Xpress credit loan
- Proof of Identity – Passport/Driving License/Voter ID/ PANCard
- Residence Proof – Passport/ Last 6 months bank statement and updated passbook
- Salary slips for 3 months
- Duly filled application form along with recent photograph
For Defence personnel
- Duly Filled application form
- Proof of Identity
- Proof of residence
- Six Months statement where salary is credited
- Last 6 months payslip
- Letter from organization
SBI Customer Care
- Customer Care: 1800-112-211 and 1800-425-3800
How to Apply for a Loan at SBI
Get your loan approved in 4 simple steps,
- Check if you have a pre-approved loan offer from SBI
- Submit your personal loan application and check your eligibility at Fincover
- Check your personal approval
- If approved and verified, the loan will disbursed in few minutes
NBFCs
- Rs.50 lakh Personal Loan
- Rs.40 lakh Personal Loan
- Rs.30 lakh Personal Loan
- Rs.25 lakh Personal Loan
- Rs.20 lakh Personal Loan
- Rs.15 lakh Personal Loan
- Rs.10 lakh Personal Loan
- Rs.5 lakh Personal Loan
- Rs.4 lakh Personal Loan
- Rs.3 lakh Personal Loan
- Rs.2 lakh Personal Loan
- Rs.1 lakh Personal Loan
- Rs.50,000 Personal Loan