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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 | 10.30%-15.30% 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) |
| Pre-closure Charges | NIL |
| Part-payment Fees | NIL |
Note: Rates as of 18 April 2025
Why Choose SBI Bank for Personal Loan?
- Lower Interest Rates: SBI offers personal loans @ 10.30% 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 10.30% to 15.30% 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 |
SBI Personal Loan EMI Calculator – 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..
Personal Loan EMI Calculator
₹
%
Year(s)
Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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 |
Types of SBI Personal Loans
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 Pension 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:-
Personal Loan to Salaried Applicants
- Employees working with Government sector (Central/ State Government/Railway/ Police/ PSU), Defence sector (Defence/Central Armed Police/Indian Coast Guard) and the corporate sector.
- The employees maintain a salary account with SBI to avail personal loan.
- Age Criteria: 21 to 60 years. Employees over the age of 60 working in government or defense sectors may be considered on a case-by-case basis.
- Minimum Net Monthly Salary:
- For government or defence sector employees: Rs 20,000
- For corporate sector employees: Rs 25,000
- Minimum Service:
- For government or defence sector employees: 6 months
- For corporate sector employees: 1 year
- EMI/NMI Ratio: Up to 65%
SBI Real Time Xpress Credit
- Salaried customers maintaining a salary account with SBI.
- Minimum Net Monthly Income: Rs 25,000
- EMI/NMI Ratio: Up to 65%
SBI Pension Loan
For Central/ State Government Pensioners
- Age of the pensioner should be below 76 years.
- Applicant maintains a pension account with SBI.
- 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.
- The EMI/NMP ratio should not exceed 50%.
For Defense Pensioners
- Maximum age of the applicant at the time of loan maturity: 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.
- The EMI/NMP ratio should not exceed 50%.
For Family Pensioners
- The 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.
- The EMI/NMP ratio should not exceed 33%.
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 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 SBI Pre-Approved Personal Loan
- Access your account via the YONO app or Internet Banking.
- 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 to Improve 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 | 10.30%-15.30% p.a. | 10.90%-24.00% p.a. | 11.25% p.a. onwards | 10.85%-16.65% 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 |
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 an 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 loans for loan amounts of up to Rs 35 lakh to its applicants depending on their repayment capacity.
What is the processing fee for personal loan in SBI
SBI levies a personal loan processing fee of 1.50% of the loan amount, with the minimum charge being Rs 1,000 and the maximum charge capped at Rs 15,000. The bank has currently waived processing fees till 31 March 2025.
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 much personal loan can I get from SBI on a Rs 30,000 salary?
SBI offers personal loans of loan amount ranging from Rs 1 lakh to Rs 35 lakh, subject to EMI/NMI Ratio up to 65% & 24-times NMI (Net Monthly Income), whichever is lower. On a Rs 30,000 salary, you may be eligible for a loan amount of up to Rs 7.2 lakh. However, the final loan amount depends on factors such as existing liabilities, repayment capacity, credit score, etc. Before applying for a personal loan, check with the bank on your loan eligibility and the loan amount.
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.
Does SBI charge any foreclosure fees on personal loans?
SBI offers personal loans at fixed interest rates. Thus, it levies foreclosure charges of 3% on the 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 CIBIL score required for SBI personal loan?
While SBI has not explicitly stated its 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 SBI personal loan?
The minimum monthly income required for SBI personal loan is Rs 25,000. SBI prefers personal loan applicants having an EMI/NMI ratio up to 60% including EMIs of the existing loans as well as the proposed loans. Using personal loan EMI calculator would allow the applicants to opt for a 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 are not eligible to apply for a personal loan.
Is it possible to get a personal loan from the SBI with a salary under Rs 20,000?
Applicants with a salary of Rs 25,000 and above can only apply for a personal loan from SBI.
Can retired individuals avail personal loans from SBI?
Yes, retired individuals holding pension accounts with SBI can avail personal loans from SBI through SBI Pension Loan scheme.
What is the EMI for a personal loan of Rs 10 lakh offered by SBI?
SBI currently offers personal loans at interest rates starting from 10.30% p.a. onwards for tenures of up to 7 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 below shows the EMI of an 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.