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SBI Personal Loan

State Bank of India offers personal loan at an interest rate of 10.10% p.a. onwards for loan amount of up to Rs 35 lakh and tenure of up to 7 years. The bank also offers pension loan for tenure of up to 6 years. Select existing customers of State Bank of India can also apply for SBI Pre-approved Personal Loan online through SBI YONO app.

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Personal Loan EMI Calculator

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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max. Loan Amt.Upto ₹25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee₹ 6,500
Axis Bank
Low Processing fee
Max. Loan Amt.Upto ₹40L
Rate of Interest9.99% - 17.15%
Tenure upto1-5 Years
Processing Fee1% - 1.5%
Kotak Mahindra Bank
Lowest Income requirement100% Digital Process*
Max. Loan Amt.Upto ₹25L
Rate of Interest10.5% - 17.2%
Tenure upto1-5 Years
Processing Fee1.1% - 1.5%

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How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

SBI Personal Loan Highlights

Interest rate 10.10%-15.10% p.a.
Loan Amount Up to Rs 35 lakh
Tenure Up to 7 years
Minimum Monthly Salary
 For Government/ Defence Sector employees: Rs 20,000;
For Corporate Sector employees: Rs 25,000
Processing Fee Up to 1.5% of the loan amount (Minimum Rs 1,000; Maximum Rs 15,000)
Prepayment Charges 2% on the prepaid amount

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.

Why Choose SBI for Personal Loan?

  • Lower Interest Rates: SBI offers personal loans @ 10.10% p.a. onwards, which is lower compared to other leading banks such as HDFC Bank, Axis Bank, ICICI Bank and Bank of Baroda.
  • Minimal Documentation: As the loan is offered only to SBI salary account holders, the documentation required is minimal, making the process quicker and hassle-free.
  • Pre-approved Loan Offers: Existing SBI customers can apply for pre-approved personal loans with instant loan processing and disbursement via the YONO SBI app.
  • Reputed and Reliable: With decades of experience in the banking sector, SBI is one of the most reliable banks in India

SBI Personal Loan Interest Rates

SBI Personal Loan interest rate ranges from 10.10% to 15.10% p.a. However, the bank has not disclosed the differential personal loan interest rates based on factors such as monthly income, credit score, employer’s profile, loan amount, etc. for its personal loan schemes, most lenders consider these factors while setting interest rates.

SBI Personal Loan Fees & Charges

Processing Fees

Particulars Charges
Defense sector employees 100% waiver
Government sector employees 50% waiver, i.e., 0.75% of the loan amount (Minimum Rs 1,000; Maximum Rs 15,000)
Employees having a CIC (CIBIL) Score of 800 or above 50% waiver, i.e., 0.75% of the loan amount (Minimum Rs 1,000; Maximum Rs 15,000)
Salaried Employees not falling in the above categories Up to 1.5% of the loan amount (Minimum Rs 1,000; Maximum Rs 15,000)

Other Fees & Charges

Particulars Charges
Prepayment Charges 2% on the prepaid amount
Penal Interest Rate on EMI defaults -Irregularity up to 60 days: 2.40% p.a. on the overdue amount for the period of irregularity– Continuous irregularity for a duration beyond 60 days: 5% p.a. on the outstanding for the period of irregularity

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SBI Personal Loan EMI Calculation – How much will you Pay?

To help you plan your repayments, here are sample EMI amounts based on different loan amounts, with a tenure of 5 years and an interest rate of 11.00% p.a..

EMI Scenarios Based on Loan Amount, Tenure & Interest Rate

Loan Amount Tenure Interest Rate (p.a.) EMI
Rs 1 lakh 5 11.00% Rs 2,174
Rs 5 lakh 5 11.00% Rs 10,871
Rs 10 lakh 5 11.00% Rs 21,742

Swipe to see more table data

What are the types of personal loans offered by SBI

SBI Personal Loan to Salaried Employees

  • Purpose: To salaried employees having their salary accounts with SBI for meeting personal requirements
  • Loan Amount: Rs 1 lakh to Rs 35 lakh
  • Tenure: 6 months to 7 years

SBI Pre-approved Personal Loan (PAPL) on YONO

The savings account holders of SBI can apply for SBI Pre-approved Personal Loan online through the SBI YONO App on a 24*7 basis or through the internet banking facility.

SBI Real Time Xpress Credit

  • Purpose: End-to-end digital loan for salaried customers maintaining salary accounts with the SBI through the SBI YONO app with instant loan disbursal.
  • Loan Amount: Rs 1 lakh to Rs 35 lakh/24 times NMI
  • Tenure: 6 months to 6 years

SBI Pension Loan

  • Purpose: To central/state government pensioners, defense pensioners and family pensioners to maintain their pension accounts with SBI to avail loan for meeting their financial requirements.
  • Tenure: Up to 6 years

SBI Pre-approved Pension Loans on YONO

  • Purpose: Savings account holders of SBI can apply for SBI pre approved loan online through the SBI YONO App on a 24*7 basis or through the internet banking facility.
  • Loan Amount: Up to Rs 5 lakh

SBI Personal Loan Eligibility Criteria

The eligibility criteria of SBI Personal Loan are set on the basis of age, minimum monthly income, job profile, EMI/NMI ratio and applicant’s relationship with the bank. Here’s an overview of the SBI personal loan eligibility criteria:-

Criteria Government/Defence Sector Corporate Sector
Employment Type Govt., PSU, Defence, Railways, Police, CAPF, Coast Guard Private or Corporate Sector
Salary Account with SBI Mandatory Mandatory
Age 21 – 60 years (up to 65+ case-by-case) 21 – 60 years
Minimum Net Monthly Salary Rs 20,000 Rs 25,000
Minimum Work Experience 6 months 1 year
EMI/NMI Ratio Up to 65% Up to 65%

SBI Real Time Xpress Credit (RTXC)

Criteria Details
Applicant Type Salaried with salary account in SBI
Minimum Net Monthly Income Rs 25,000
EMI/NMI Ratio Up to 65%

SBI Pension Loan

Category Max Age Account with SBI EMI/NMP Ratio Special Conditions
Government Pensioners Up to 76 years Required Up to 50% Irrevocable undertaking + NOC from Treasury
Defence Pensioners Up to 76 years Required Up to 50% Pensioners from armed & paramilitary forces
Family Pensioners Up to 76 years Required Up to 33% Authorized family member must be pension receiver

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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.

Document Type Details
Application Form Duly filled application form along with passport-sized photographs
Identity Proof Permanent Account Number (PAN)
Proof of Identity/Address Minimum one copy of the Officially Valid Documents (OVDs)
Income Proof Salary Slips of the last 6 months
Additional Income Proof Latest Income Tax Return (ITR) or Form 16

Pre-Approved SBI Personal Loan – Get Instant Loan via YONO App

Pre-Approved SBI Personal Loan offers instant loan processing and disbursal facility of up to Rs 15 lakh to its eligible customers. Available through the YONO App, it requires no paperwork or branch visits and is available 24*7 basis.

How You Can Check Your Pre-Approved Eligibility

SMS “PAPL<space><last 4 digits of your SBI Savings Bank Account No.>” to 567676 to check your eligibility for a pre-approved SBI personal loan.

How You Can Apply for an SBI Pre-Approved Personal Loan via YONO App

  • Access your account via the YONO app.
  • Tap on the PAPL banner to get started.
  • Fill in your Date of Birth and PAN details.
  • Select the loan amount and repayment tenure.
  • Enter the OTP for verification, and the funds will be credited to your account.

How You Can Apply for an SBI Pre-Approved Personal Loan Through Internet Banking

  • Visit https://online.sbi and log in to your account.
  • Click on the Loan Offers banner or navigate to the e-Services menu and select Loans.
  • Verify or update your email ID.
  • Enter your PAN details and Date of Birth.
  • Choose your desired tenure, loan amount and EMI payment date.
  • Review and accept the Terms & Conditions.
  • Enter the OTP sent to your registered number. Once verified, the loan amount will be credited to your Savings Bank Account.

How to Improve the Chances of SBI Personal Loan Approval

  • Check the personal loan eligibility criteria before applying for a loan from SBI. The basic eligibility is to maintain a salary account with SBI
  • Maintain a credit score of 750 or above, as it is preferred by most lenders to improve approval chances. Making timely repayments and managing credit responsibly can help improve your credit score.
  • Make sure to submit complete and accurate documentation, such as recent salary slips, address proof.
  • Do not switch jobs too often, as it reduces your minimum job tenure criteria to avail personal loan. If you’re new to your job, it’s best to wait until you’ve completed the required service period before applying for SBI personal loan.
  • Your EMI should not exceed 65% of your NMI. To improve your chances:
    • Limit existing loans and credit card EMIs, or
    • Choose a longer loan tenure or prepay (if you have surplus funds) to reduce the EMI burden.

SBI Personal Loan vs Other Banks

Banks SBI HDFC Axis ICICI
Rates 10.10%-15.10% p.a. 10.90%-24.00% p.a. 10.49% p.a. onwards 10.80%-16.50% p.a.
Processing Fee Up to 1.5% of the loan amount (Min. Rs 1,000; Max. Rs 15,000) Up to Rs 6,500 Up to 2% of the loan amount Up to 2% of the loan amount
Max. Loan Amount Up to Rs 35 lakh Up to Rs 40 lakh Up to Rs 10 lakh Up to Rs 50 lakh
Min. Monthly Salary Required For Government/ Defence Sector employees: Rs 20,000;
For Corporate Sector employees: Rs 25,000		 Rs 25,000 Rs 15,000 for Axis Bank customers; Rs 25,000 for non-Axis Bank customers Rs 30,000

Swipe to see more table data

How Can I Apply for a Personal Loan Online?

Get up to ₹40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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FAQs

The interest rate of SBI Personal Loan ranges from 10.10% to 15.10% p.a.

Salaried employees in the government, defence, or corporate sectors who maintain a salary account with SBI are eligible to apply for an SBI Personal Loan. Government and defence employees need a minimum salary of Rs 20,000 and at least 6 months of service, while corporate employees must have a minimum salary of Rs 25,000 and 1 year of service. The age limit for eligibility is 21 to 60 years, with case-by-case consideration for those over 60 in the government or defence sectors.

SBI has not explicitly mentioned the approval time for a personal loan. However, the approval process usually takes 2 to 7 working days, depending on the documentation and verification process of a lender.

The EMI for a Rs 5 lakh personal loan depends on the interest rate and loan tenure. For example, for a loan amount of Rs 5 lakh with an interest rate of 12% p.a. and a tenure of 5 years, the estimated EMI would be approximately Rs 11,122.

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.

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Last updated: 2 September, 2025

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Vandana Punj
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Shamik Ghosh

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