SBI Personal Loan Interest Rates

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SBI Personal Loan Interest Rates – April 2025

SBI offers personal loans at an interest rates ranging from 10.30% – 15.30% p.a. Below mentioned are the SBI personal schemes with loan details.

Types of SBI Personal Loan Schemes

SBI Personal Loan to Salaried Employees 

Loan Details:

• Interest Rate 10.30% – 15.30% p.a.
• Loan Amount Up to Rs. 35 lakh
• Repayment Tenure Up to 7 years

SBI Pre-approved Personal Loans (PAPL) on YONO App

Loan Details:

• Interest Rate 10.30% – 15.30% p.a.
• Loan Amount: Up to Rs 8 lakh
• Repayment Tenure Up to 7 years

SBI Real Time Xpress Credit Personal Loan

Loan Details:

• Interest Rate 10.30% – 15.30% p.a.
• Loan Amount: Minimum Rs 1 lakh and Maximum Rs 35 lakh/24 times NMI
• Repayment Tenure Up to 7 years

Note: Interest rates updated on 4th April 2025.

Comparing Interest Rates Offered by Paisabazaar Partners

*Applicable for selected customers

Factors affecting SBI Personal Loan Interest Rates

Below-mentioned are the factors affecting SBI Personal Loan interest rates:

Employer’s Profile

Lenders usually consider the employer’s profile while setting their personal loan interest rates. Most banks and NBFCs usually offer preferential interest rates to salaried individuals as compared to self-employed. Due to higher job security of individuals employed with government or PSU entities, interest rates for personal loans for government employees are also usually lower than those offered to private employees. However, individuals employed with top private sector companies and MNCs are offered lower interest rates due to their ability to withstand adverse economic conditions better than other private sector employees.

Credit Score

While SBI has not disclosed the interest rate differentiation based on credit score for availing SBI Personal Loans, many banks and NBFCs consider the credit score while setting their personal loan interest rates. Lenders usually consider applicants having credit scores of 750 and above for availing personal loans. Such applicants are usually offered personal loans at lower interest rates. Thus, having a higher credit score may help in availing personal loan from SBI or other bank at lower interest rates.

Monthly Income

SBI offers personal loans to applicants having minimum monthly income of Rs 25,000. It prefers lending to those applicants whose total EMIs, including the existing EMIs as well as the EMI of the proposed personal loan, is within 50% of their monthly income. Although SBI has not mentioned the interest rate differentiation based on the monthly income, many lenders offer preferential interest rates to applicants having higher monthly income due to the higher repayment capacity and low credit risk involved.

Existing Relationship with the Lender

Many lenders offer interest rate concessions to applicants having an existing lending/deposit account with them. Therefore, individuals planning to avail personal loans should prefer the lenders they already have an account with.

For example, the SBI Personal Loan interest rates offered to those maintaining salary account with SBI is lower than those not maintaining salary account with the bank.

Tips to avail SBI Personal Loan at Lower Interest Rates

Applicants can follow the tips given below to avail SBI Personal Loan at lower interest rates.

• Contact the banks and NBFCs with whom you already have a deposit/lending account
• Check different lenders for interest rate concessions during festive seasons
• Maintain a credit score of 750 and above
• Visit online fintech platforms to compare the personal loan interest rates offered by different lenders
• Enquire about the pre-approved personal loan offers from various banks and NBFCS

FAQs on SBI Personal Loan Interest Rate

What is the current interest rate of SBI Personal Loan?

SBI offers personal loan interest rate ranging from 10.30% – 15.30% p.a. depending on the credit profile of the applicants. The interest rates may vary depending on the personal loan schemes offered by the SBI and the work profile of the applicants.

How to get the lowest personal loan interest rate from SBI?

Lenders usually offer lowest interest rates to applicants having the best credit profile. Therefore, you should maintain a healthy credit score of 750 or above to avail personal loans from SBI at low interest rates.

Are SBI Personal Loan interest rates offered at fixed or floating rates?

SBI offers personal loans to its applicants at fixed interest rates. The loan is linked to 2 year MCLR of the bank.

How does SBI set interest rates for its personal loan applicants?

SBI sets its personal loan interest rates based on the type of personal loan scheme, employment profile of applicants and its existing relationship with the applicant.

How to calculate SBI Personal Loan interest cost?

SBI Personal Loan interest cost can be calculated with the help of Personal Loan EMI calculator. Applicants can enter the loan amount, interest rate and loan tenure in the EMI Calculator and get the monthly EMIs and total interest cost payable throughout the loan tenure.

Does SBI offer special discounts or offers on its personal loan interest rate?

SBI currently does not offer special discounts or offers on its personal loan interest rate.

What are SBI Personal Loan interest rates for salaried applicants?

SBI offers personal loan interest rates to salaried applicants having minimum monthly income of Rs 1 lakh at interest rates starting from 10.30% p.a.

What are the SBI Personal Loan interest rates for businessmen or self-employed applicants?

SBI has not specified the interest rates for businessmen or self-employed applicants. It has also not mentioned any personal loan scheme for self-employed applicants. However, self-employed applicants can click here to compare the personal loan interest rates available on their credit profile from various lenders.

What are the SBI Personal Loan interest rates for female applicants?

SBI has not disclosed differential/concessional interest rates for its female personal loan applicants. The SBI personal loan interest rates for women applicants are the same as other personal loan applicants, i.e. 10.30% – 15.30% p.a., depending on their credit profile.