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(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
Personal Loans by Bank
SBI pension plan’s EMI/NMP ratio should not exceed 33% of family pensioners
Yes, third party guarantor is required mandatorily for SBI pension loan
You can repay SBI loan through autopay feature
Not every loan comes with prepayment charges. Certain loans like Xpress credit and instant personal loan have 3% of the outstanding loan amount as foreclosure charges