SBI Personal Loan

Broker Articles   Buyback Dashboard   IPO Dashboard   Compare Top Stock Brokers in India  
Rated 4.5/5 by Team TopShareBrokers

Personal Loan Enquiry

Name 

 Phone 
Email   State 
City   

State Bank of India offers you money when you require the most instantly. Whether it’s your wedding or a vacation, unplanned emergency or planned purchase, get quick approval and instant disbursal with minimal documentation from the bank. The loan can be repaid with easy monthly instalments.

SBI Personal Loan Details

The personal loan is a type of unsecured loan which is extended by many banks and financial institutions. Because of its unsecured nature, you need not require any collateral and this is why SBI personal loan helps consumers to cater to any of their personal needs. SBI personal loan offers easy and fast personal loans to both salaried employees and self-employees. It also offers instant loan to its YONO app users 24*7 just by sitting at home. Besides this, SBI also offers loan against securities, to pensioners, etc.

To get a personal loan from State Bank of India, the applicant’s age should be in between 21 to 60 years with a minimum monthly income of Rs 15,000. It provides loan amount ranging between Rs 25,000 to Rs 20 Lakhs for 1 to 6 years.

SBI Personal Loan Information

With SBI Personal Loan you can apply for loan just in 2 days (48 hours) with 10.55% onwards. Below table gives the complete details of Personal Loan.

    SBI Personal Loan Details
    Loan Category Personal Loan
    Loans Offering SBI Pension Loan, SBI Xpress Credit Loan, Pre Approved Personal Loans on YONO, Loan against Securiti
    Loan Type Unsecured personal loan
    Interest Rate 10.55% onwards
    Processing Fee 1.50% of the Loan Amount
    Approval Process Both online and offline
    Minimum Income Requirement ₹15,000
    Loan Approval Timing 2 days (48 hours)
    Minimum Loan Amount ₹50,000
    Maximum Loan Amount ₹20 Lakh
    Minimum Loan Period 12 months/ 1 year
    Maximum Loan Period 72 months/6 years
    Type of Interest Rate Fixed interest
    Interest Charging Method Flat Rate Method/ Reducing balance method

SBI Personal Loan Special Feature Details

    Under the special feature of SBI personal loan, the State Bank of India offers personal loan to defence pensioners. There is no minimum age bar under this scheme. The loan is available to pensioners of Armed Forces, including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles and Assam Rifles. It is available only if:

    • The pension payment order is maintained with SBI.
    • Maximum age at the time of processing the loan should be less than 76 years.

SBI Personal Loan Eligibility Criteria

There are eligibility criteria set by SBI for their personal loan:

    SBI Personal Loan Details
    Salaried Employees Yes
    Salaried Doctors Yes
    Employees of public and private limited companies Yes
    Government sector employees including Public Sector Undertakings, Central and Local bodies Yes
    Loan for Pensioners Yes
    Loan for Existing Customers Yes
    Self-Employed Yes
    Selected Corporate Yes
    Other Criteria Special personal loan to employee of ITI Ltd, Bengaluru with one year confirmed Service
    Minimum Age 21 years
    Maximum Age 60 years at the time of maturity of the Personal Loan
    Minimum Income Requirement ₹15,000

SBI Personal Loan Strengths/Advantages

  • SBI has the most branches in India so a person from a small village can also take a loan from it.
  • It offers discount and offers to employees from large corporations.
  • It has specific low rates for the customers of SBI.

SBI Personal Loan Weaknesses/Disadvantages

  • The overdue interest of 1.50% on EMI or principle overdue
  • Higher preference to SBI customers

Request call back from SBI Personal Loan

SBI Personal Loan Products & Services

State Bank of India offers various products & services under personal loan which are as follow:

  • SBI Pension Loan

  • Pension loan is available to people who need money for funding their child’s marriage, buy a dream home, plan a trip or getting medical aid. This loan is available to people whose age is below 76 years and the pension payment is maintained by SBI. One can get the loan of up to Rs 14 Lakh for 60 months with an interest rate starting @10.55% p.a.

  • SBI Xpress Credit Loan

  • SBI Xpress Credit Loan can be used for wedding or a vacation, unplanned emergency or planned purchase. This loan is available for the individuals who have their salary account with SBI and have a minimum monthly salary of Rs 15,000. The bank has kept the EMI/NMI ratio of less than 50% so that anyone can easily pay the EMIs. The maximum amount of loan is 24 Lakh i.e., 24 time of NMI.

  • Pre Approved Personal Loans on YONO

  • This is an instant personal loan offered by SBI which can be avail 24*7 bases through YONO app in just 4 clicks. This loan is available to the customers who are pre-selected on certain parameters pre-defined by SBI. You can simply avail the loan on YONO app and the amount will be transferred in your account immediately. To check your eligibility for this pre-approved loan, SMS “PAPL<space><last 4 digits of Account No.>” to 567676.

  • Loan against Securities

  • Under loan against securities, the State Bank of India offers loan on mutual funds, shares, government bonds and securities, or loan against time deposit. This facility is given to the people who have a satisfactory relationship with SBI and maintaining their DEMAT Account with SBI Cap Sec. Appliers can avail loan up to Rs 20 Lac against securities.

  • SBI Quick Personal Loan

  • This loan is available for the salaried individuals who do not have their salary account with SBI. Here one can get quick personal loan approval with minimal documentation through Contactless Lending Platform (CLP). Applicants must have a minimum monthly income of Rs 15,000 and age ranging between 21 to 58 years. Applicants must have to complete at least 1 year of service and repay the loan in 72 months.

SBI Personal Loan Feature

SBI Personal Loan offer various services, please find below the list of features offered by the vendor.

    SBI Personal Loan Details
    Personal Loan Yes
    Wedding Loan No
    Education Loan No
    Home Renovation Loan No
    Two Wheeler Loan No
    New Car Loan No
    Used Car Loan No
    Travel Loan No
    Medical Loan No
    Top Up Loan No

SBI Personal Loan Charges

Here is the detail charge list for SBI Personal Loan process. We have covered all possible charges for your loan requirements for clear visibility on SBI Personal Loan processing.

    SBI Personal Loan Details
    Co-Applicant Allow No
    Income Criteria Yes
    Collateral Requirement No
    Pre Approved Credit Limit Yes
    Foreclouser Charges 3% on prepaid amount. No prepayment/ foreclosure charges if account is closed for new loan.
    Loan Foreclouser Conditions Minimum repayment period is of 6 months and maximum repayment period is of 6 years.
    Bounce Charges NA
    Bounce Charges Self Employed NA
    Late Payment Penalty 2% per month
    Duplicate NOC Charges At actual
    Stamp Duty Charges As per laws
    Instrument Swapping Charges NA
    Loan Cancellation Charges NA
    Stamp Duty Charges As per laws
    Loan Rebooking Charges NA
    Statement Of Account Charges NA
    Duplicate Repayment Schedule NA
    EMI Payment Mode Standing Instruction (SI) Electronic Clearing Service Post-dated cheque
    Overdue Payment Mode NA
    Hidden Charges NA

SBI Personal Loan Customer Care Details

  • Customer Support Email - [email protected]
  • Customer Support Toll Free No - 1800 11 2211
  • Customer Support Chat Facility - Yes
  • Customer Support Whatsapp Number - NA

SBI Personal Loan Calculator and Download Links

SBI Personal Loan Application Process Details

    For new customers:

    • Head to the official link from your web browser link or signup into your SBI mobile application > Personal Loan > Apply Online
    • Fill your mobile number & DOB or PAN Card details registered with SBI and you will get an OTP.
    • After logging in to the account with OTP, enter the desired loan amount.
    • You have to upload the required documents, such as PAN Card and address proof.
    • As you get loan approval, the funds will be disbursed to your account.

    For existing customers:

    • Head to the official web link to apply for SBI Personal Loan by logging into your account.
    • All your documents are already available with the bank as you have an account with them.
    • Enter your basic details, such as your Name, Email ID and Phone number, and submit the form.
    • SBI customer representative will call you for the loan.

SBI Personal Loan Documents Requirements

Please find below the list of documents required to avail personal loan. Aadhar, PAN and Income Proof are the most important documents, other documents are optional. Bleow is the complete list of documents you can keep ready for your loan application.

    SBI Personal Loan Details
    Age Proof Copy of Passport/Driving License/Aadhar Card
    Address Proof Copy of Passport/Driving License/Aadhar Card/Voter ID/Ration Card
    Identity Proof Registered Rent Agreement/Utility Bills last 3 months/Copy of Passport/Copy of Ration card
    Income Proof for Salaried Emp Salary slip of last 3-6 months, ITR or Form 16, 6 month bank statement
    Income Proof for Self Emp IT returns for the last 2 years along with audited balance sheet, P&L account statement for 2 years

Apply for Instant Personal Loan

Do you know you could opt for personal loan from your mobile? Now taking personal loan is very easy. Oue expert team compare top personal loan service in India to help in getting personal loan with minimum paperwork.

We can help you choose the right provider for you. Contact us today...

@
  NRI Form ⇒

Last Updated on 2020-05-06T02:24:43+00:00

SBI Personal Loan FAQs

  1. 1. What will be SBI Personal Loan interest rate for salary account?

    SBI offers interest rate ranging in between 10.55% to 16.60% for salary account applicants. The loan amount starts from ₹15,000 to ₹25 Lacs.

     

  2. 2. How to check SBI Personal Loan status?

    A person can check the loan status by calling the numbers 18004253800 for any financial queries including Personal Loan. You can also check your application status online by entering your reference number and mobile number.

    You can also directly go to the branch you apply to meet the officer in charge to know the status of your personal loan application.

     

  3. 3. How much amount of SBI Personal Loan for government employees?

    SBI offers loan up to ₹15 Lacs to all government employees with a maximum tenure of 48 months. Under SBI Xpress Credit personal loan, government employees’ personal loan interest rate starts from 11.50%.

     

Compare 3 Brokers

User Comments

avatar
  

Enquire for personal loan:

Name 

 Phone 
Email   State 
City   






Search topsharebrokers.com:

Translate topsharebrokers.com: