हिंदी में पढ़े
Disclaimer: State Bank of India is not a Paisabazaar partner for personal loans and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to State Bank of India for personal loans. No offers/services from State Bank of India are being provided by Paisabazaar for personal loans. For further information about State Bank of India for personal loans, users are required to reach out directly to State Bank of India.
SBI Bank Personal Loan Highlights |
|
| Interest rate | 11.45%-14.85% p.a. |
| Loan Amount | Up to Rs 30 lakh |
| Tenure | Up to 6 years |
| Minimum Monthly Salary |
Rs 15,000 |
| Processing Fee | NIL |
| Pre-closure Charges | NIL |
| Part-payment Fees | NIL |
| Documentation |
|
Note: Rates as of 27th November 2024
Personal Loan Offer From Partners
Paisabazaar has tied-up with 30+ banks and NBFCs to offer personal loans. Applicants can compare the interest rates and other features offered by our below-mentioned partner banks and NBFCs and can then apply accordingly as per their preference.
HDFC Bank
Up to ₹40L
10.85% - 24%
Upto 6 Years
₹6,500
Axis Bank
Up to ₹10L
11.25% - 22%
Upto 5 Years
Upto 2%
Kotak Mahindra Bank
Up to ₹40L
10.99% - 36%
Upto 6 Years
Upto 3%
IDFC First Bank
Up to ₹10L
10.99% - 23.99%
Upto 5 Years
Upto 2%
ICICI Bank
Up to ₹50L
10.85% - 16.25%
1-6 Years
Upto 2%
Table of Contents
SBI Personal Loan Interest Rates
SBI Personal Loan interest rate starts from 11.45% p.a. The bank offers personal loan interest rates based on type of SBI Personal Loan schemes, employment profile of the applicant, loan amount and the lender’s existing salary account relationship with the applicants. While the bank has not disclosed the credit score at which it offers personal loans to its applicants, SBI also may consider the credit scores of its personal loan applicants, just like many lenders do, for setting their personal loan interest rates.
SBI Xpress Credit (including Pre-Approved Xpress Credit (PAXC)/ RTXC/ RMP Xpress Credit)
For Defense/Para-military/Indian Coast Guard Salaried Applicants
| Types | Interest Rates (p.a.) |
| Term Loan | 11.45%-12.95% |
Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status
| Types | Interest Rates (p.a.) |
| Term Loan | 11.60%-14.10% |
Applicants of Other Corporates
| Types | Interest Rates (p.a.) |
| Term Loan | 12.60%-14.60% |
SBI Xpress Elite Scheme (inclusing RTXC Elite)
| Types of Applicants | Interest Rates (p.a.) |
| Salary Account Holders with SBI | 11.45%-11.95% |
Note: No loan to be offered to applicants having salary accounts with other banks
SBI Xpress Flexi Scheme
| Types | Interest Rates (p.a.) |
| For Diamond Salary package Customers | 11.70%-14.85% |
| For Platinum Salary package Customers | 11.70%-12.20% |
Other Schemes
| Products | Rate of Interest (p.a.) |
| Pre-approved Personal Loans (PAPL) to Non CSP Customers | 14.10%-14.60% |
SBI Personal Loan Processing Fees and Charges
SBI Personal Loan Processing Fees
SBI Personal Loan processing fees ranges between 1% to 1.5% of the loan amount. The processing fee for SBI Pension loan is 0.50% of the loan amount. However, the lender has currently waived off the processing fee till 31st January 2025 as a special offer.
SBI Personal Loan Prepayment Charges
SBI charges a prepayment fees of 3% on the prepaid amount from its personal loan borrowers. However, the bank does not charge any prepayment fee if the existing personal loan account is closed from the proceeds of a new loan availed under the same personal loan scheme.
SBI Personal Loan Other Fees and Charges
SBI charges a penal interest of 2% per month from its personal loan borrowers on non-repayment of the loan by their due date. The penal rate is charged over and above the applicable interest rate on the overdue amount for the default period.
Also know the personal loan processing fee charged by top lenders
Types of SBI Personal Loans
SBI Xpress Credit Personal Loan
Purpose: State Bank of India offers SBI Xpress Credit Personal Loan Scheme to meet the personal requirements of salaried employees having their salary accounts with the bank.
Loan Amount: Up to Rs 30 lakh
Tenure: 6 months-6 years
SBI Pre-approved Personal Loan (PAPL)on YONO
Purpose: The savings account holders of State Bank of India can apply for SBI Pre-approved Personal Loan online through SBI YONO App on 24*7 basis. The applicants can also apply for SBI Pre-approved Personal Loans through the internet banking facility.
Loan Amount: Up to Rs 8 lakh
SBI Real Time Xpress Credit Personal Loan
Purpose: Government and defence personnel maintaining salary account with State Bank of India can apply for SBI Real Time Xpress Credit Personal Loan online through SBI YONO app with instant loan disbursal.
Loan Amount:
- Minimum Loan amount: Rs. 25000/-
- Maximum Loan Amount: Rs 30 lakh for RTXC and Rs 35 lakh for RTXC Elite
Tenure: 6 months -6 years
Processing Fee: Up to 0.75% of loan amount
SBI Quick Personal Loan
Purpose: Salaried individuals not maintaining their salary accounts with SBI are eligible for SBI Quick Personal Loan
Loan Amount: Up to Rs 20 lakh
Tenure: 6 months-6 years
Processing Fees: 1.50% of the loan amount (Rs 1,000- 15,000) + GST
SBI Pension Loan
Purpose: SBI Pension Loan scheme allows central/state government pensioners, defense pensioners and family pensioners maintaining their pension accounts with SBI to avail loan for meeting their financial requirements.
Tenure: Up to 6 years; Up to 3 years for Insta Pension Loan Scheme availed through YONO
SBI Xpress Flexi Personal Loan
Purpose: SBI Xpress Flexi personal loan is an overdraft facility offered to salaried individuals maintaining diamond and platinum category salary account with the bank.
Loan Amount: Rs 1 lakh to Rs 25 lakh, subject to 24 times net monthly income
Tenure: 6 months to 6 years
SBI Xpress Elite
Purpose: SBI offers Xpress Elite Personal Loan scheme to applicants having monthly income of Rs 1 lakh and above to meet their personal requirements.
Loan Amount: Up to Rs 35 lakh
Tenure: 6 months-6 years
SBI Personal Loan Eligibility Criteria
SBI Personal Loan eligibility criteria is set on the basis of age, minimum monthly income, job profile, EMI/NMI ratio and applicant’s relationship with the bank. Below mentioned are the personal loan eligibility criteria set by State Bank of India.
SBI Xpress Credit Personal Loan (For salaried applicants)
- Individuals need to have salary account with SBI to avail SBI Xpress Credit Personal Loan
- The applicant should have a minimum monthly income of Rs 15,000
- The EMI/NMI ratio should be less than 50% including the EMIs of existing loans as well as proposed loan.
- The employees of Central/ State/ Quasi-Government, Central/ State PSUs, educational institutions of national repute are eligible for availing SBI Xpress Credit Personal Loan.
- The employees working with select corporates with/without relationship with the bank can also avail SBI Xpress Credit Personal Loan
- In addition to above-mentioned eligibility criteria, SBI personal loan elgibility may also depend on the credit score of its applicants, just like other lenders.
SBI Real Time Xpress Credit
- Government or defense salary package account holders with KYC compliant account are eligible for SBI Real Time Xpress Credit Personal Loan
- Minimum Net Monthly Income should be Rs 15,000 and above for Real Time Xpress Credit and Rs 1 lakh and above for Real Time Xpress Credit Elite
- EMI/NMI ratio of the eligible applicant should be less than 50% for Real Time Xpress Credit and less than 60% for Real Time Xpress Credit Elite. The EMIs of the existing loans and that of the proposed personal loan would be factored in while calculating the EMI/NMI ratio.
SBI Quick Personal Loan
- Minimum age of the applicant should be 21 years at the time of loan application and maximum age should be 58 years at the time of loan maturity
- This loan facility can availed by applicants who not maintain their salary account with SBI
- Minimum monthly income of the applicant applying for SBI Quick Personal Loan should be Rs 15,000
- Applicants should have their total EMIs, including the EMIs of proposed loan and existing loans, within 50% of their monthly income
- Employees working with Central/ State/ Quasi-Government, Central and State PSUs, corporates and educational institutions with at least 1 year service are eligible for availing SBI Quick Personal Loan
SBI Pre-approved Personal Loan
- For CSP and Non-CSP customers
- For savings bank account holders
- The SBI savings bank account holders can SMS the last 4 digits of SBI savings bank account no. to 567676 to check the eligibility
SBI Pension Loan
For Central/ State Government Pensioners
- Age of the applicant should be below 76 years
- Pensioners applying for SBI Pension Loan should have a pension account with SBI
- The pensioner should provide an irrevocable undertaking not to alter the mandate to the Treasury during the loan tenure
- The Treasury should give in writing mentioning that no transfer of pension payment to any other bank without an NOC
- All terms and conditions are applicable, including guarantee by a third party or by the spouse
For Defense Pensioners
- Maximum age of the applicant at the time of loan maturity should be up to 76 years.
- Pensioners from armed forces such as Navy, army, Air Force, Paramilitary Forces (BSF, CISF, CRPF, ITBP), Coast Guards, Assam Rifles and Rashtriya Rifles are eligible to apply for SBI Pension Loan
- The applicants should have a pension account maintained with SBI
For Family Pensioners
- Maximum age of the applicant should be up to 76 years
- In case of the pensioner’s death authorized family members can receive the pension
For SBI Xpress Flexi Personal Loan
- Individuals employed with Central/State government, Quasi Government bodies, Defence/Central Armed Police, Indian Coast Guard, Central and State PSUs and Private and Public Limited Corporates are eligible for applying for SBI Xpress Flexi Personal Loans
- Applicant should have minimum monthly salary of Rs 50,000
- Applicants should have diamond and platinum category salary package account with SBI to avail this loan facility
- SBI usually prefers applicants having EMI/NMI ratio of up to 65% including the EMIs of the existing loans and proposed loans
For SBI Xpress Elite
- Individuals having salary account with SBI or any other bank are eligible for SBI Xpress Elite Personal Loan scheme
- Applicant should have a minimum monthly income of Rs 1 lakh
- Employees working with Central/State/Quasi Governments, Central/State PSUs, Defence/Central Armed Forces/Indian Coast Guard, Private/Public Limited Corporates, Educational Institutes of national repute are eligible for SBI Xpress Elite Personal Loan
- Applicants having EMI/NMI ratio of up to 60% including the EMIs of the existing and proposed personal loans can avail this personal loan facility
Documents Required for SBI Personal Loan Application
SBI has given a detailed list of the documents required for availing its Xpress credit Personal Loan scheme. However, the lender has not disclosed the documents required for availing other SBI Personal Loan schemes. Below-mentioned is the list of SBI Personal Loan documents for SBI Xpress Personal Loan scheme .
SBI Xpress Credit Personal Loan
For Salaried Individuals
- Duly filled application form along with passport-sized photographs
- Identity Proof: Passport, PAN card, Voter Identity Card, Driving License, Aadhaar Card
- Address Proof: Ration Card, Bank Account Statement, Passport, Driving License, Electricity Bill, Telephone Bill, Sale Deed/Property purchase agreement (for owned properties), Aadhaar Card
- Income Proof: Bank Account Statement, Salary Slips, ITR, Form 16
- Copy of ID card issued by the employer
- Irrevocable Letter of Authority addressed to disbursing authority
- Irrevocable Letter of Authority from the person authorized to disburse salary and allowances
- Any other document required by SBI
For DSP-PMSP-ICGSP (Defence Salary Package/Para-military Salary Package/Indian Coast Guard Salary Package)
- Duly filled application form with 2 recent photographs
- ID Proof: PAN card, driving license, passport, voter ID, Aadhar card,
- Residence Proof: telephone bills, electricity bills, passport, voter ID
- Last 6 months bank account statement where salary is credited
- Salary slip for last 6 months
SBI Personal Loan for Government Employees
SBI has not mentioned any specific scheme under the name “Personal Loan for Government Employees”. However, the bank offers SBI Xpress Credit Personal Loan scheme, which can be availed by the employees of Central/State/Quasi Governments, including personnel of defence and paramilitary forces maintaining salary account with SBI. Government employees not maintaining their salary account with SBI can avail SBI Quick Personal Loan scheme.
Government and Defence salary package account holders can also avail Real Time Xpress Credit scheme with fully digitized loan journey through SBI YONO app.
SBI Personal Loan Customer Care
Toll free numbers:
- 1800 11 2211
- 1800 425 3800
- 1800 1234
- 1800 2100
Know more about SBI Personal Loan Customer Care Number and grievance redressal process
FAQs on SBI Personal Loan
How to apply for SBI Personal Loan?
Applicants can apply for SBI Personal Loan either directly through the official website of State Bank of India or by visiting SBI branches. Applicants can also visit online financial marketplaces like Paisabazaar to compare the interest rates and other features offered by various lenders.
How much personal loan can I get from SBI?
State Bank of India offers personal loan for loan amount of up to Rs 30 lakh to its applicants depending on their repayment capacity.
What is the personal loan processing fee levied by State Bank of India?
SBI levies a personal loan processing fees of 1.50% of loan amount with the minimum charge being Rs 1,000 and the maximum charge capped at Rs 15,000.
How long does it take SBI to disburse a personal loan?
Banks and NBFCs usually disburse personal loans within 2-7 days of making a personal loan application. However, pre-approved personal loans offered to select customers by the SBI may have quicker disbursal. Lenders like Axis Bank, HDFC Bank, Bajaj Finserv and ICICI Bank also offer pre-approved/pre-qualified personal loans to select customers with instant disbursal.
How to track SBI Personal Loan status?
Applicants can track their SBI personal loan status through the official website of State Bank of India. The applicants can also contact the SBI Personal Loan customer care to enquire about the application status offline.
Are there any foreclosure charges levied by State Bank of India on personal loans?
SBI offers personal loans at fixed interest rates. Thus, it levies foreclosure charges of 3% on prepaid loan amount. The bank does not charge any foreclosure charges if the account is closed from the proceeds of a new loan account under the same scheme.
What is the minimum credit score required for availing SBI personal loan?
While SBI has not explicitly stated their cut-off credit score, applicants having credit score of 750 and above would have higher chances of availing personal loan.
What is the minimum salary required for availing SBI personal loan?
The minimum monthly income required for availing SBI personal loan is Rs 15,000. SBI prefers personal loan applicants having EMI/NMI ratio less than 50% including EMIs of the existing loans as well as the proposed loans. Using personal loan EMI calculator would allow the applicants to opt for personal loan tenure and EMI within the aforesaid limit.
I don’t have a salary account with SBI. Can I apply for a personal loan?
Personal loan applicants not having their salary account with SBI can apply for SBI Quick personal loan.
Is it possible to get a personal loan from the SBI with a salary under Rs 20,000?
Yes, applicants with a salary of Rs 15,000 and above can also apply for a personal loan from SBI.
Can retired individuals avail personal loan from SBI?
Yes, retired individuals holding pension account with SBI can avail personal loan from SBI through SBI Pension Loan scheme.
What is the EMI for personal loan of Rs 10 lakh offered by SBI?
SBI currently offers personal loan at interest rates starting from 11.35% p.a. onwards for tenures of up to 5 years. The EMI of your personal loan of Rs 10 lakh would depend on the interest rate and loan tenure offered by SBI. The below-mentioned table shows the EMI of SBI personal loan of Rs 10 lakh for various SBI personal loan interest rates and tenure of 5 years.
| Loan Amount (Rs) | Interest Rate (p.a.) | Tenure (years) | EMI (Rs) |
| 10 lakh | 11.15% | 5 | 21,817 |
| 10 lakh | 11.30% | 5 | 21,892 |
| 10 lakh | 12.30% | 5 | 22.396 |
| 10 lakh | 11.40 % | 5 | 21,942 |
| 10 lakh | 12.40% | 5 | 22,447 |
How to pay SBI Personal Loan online?
The applicants can pay their SBI personal loans online through different modes, such as Standing Instructions from the borrower’s salary or pension account held with SBI. Borrowers not maintaining their deposit accounts with SBI can opt for ECS, NACH and ACH for paying their SBI personal loans online.