SBI Personal Loan
SBI Personal Loan interest rates start at 9.60% p.a. Apply loan up to Rs. 20 Lakhs for maximum repayment tenure of 72 months. Check loan eligibility online and get SBI instant Personal Loan approval for an attractive interest rate.
SBI Personal Loan Online
| Interest Rate | Starting at 9.60% p.a. |
|---|---|
| Minimum loan amount | Rs. 25,000 for Term Loans and Rs. 5 Lakhs Overdraft Loans |
| Maximum loan amount | Rs. 20 Lakhs for Term Loans as well as for Overdraft Loans |
| Repayment tenure | 6 months to 6 years |
| Processing fee | 1.50% of loan amount (Min Rs.1,000 & Max Rs. 15000) + GST |
| Prepayment charges | Nil, if the account is closed from the proceeds of a new loan account under the same scheme. 3% in other cases. |
| Minimum income required | Rs. 15,000 |
| Eligibility age | 21 years to 58 years |
Features of SBI Personal Loan
SBI Personal Loan have something for everyone. For emergency needs, you can avail of small instant loans by applying online.
- Loan amount: For Term Loans, you can avail minimum 25,000 and maximum 20 lakhs or 24 times NMI (whichever is lesser). For Overdraft Loans the minimum loan amount available is 5 Lakhs and maximum loan limit is 20 lakhs or 24 times NMI (whichever is lesser).
- Repayment tenure: You can repay the SBI instant personal loan amount within 72 months.
- Low interest rates: SBI Personal Loan interest rates start at as low as 9.60% p.a. and can go up to 15.65% p.a., depending on the loan type, borrower's income and repayment capacity.
- Low processing charges: Currently, there is a concession of up to 100% on SBI personal loan processing charges till 31.01.2022.
- Personal loan for all: The bank offers various schemes, such as SBI personal loan for govt employees, and so on to cater to the financial needs of all categories of borrowers.
Types of SBI Personal Loan
SBI Kavach Personal Loan
Get an instant loan of up to Rs. 5 lakhs under SBI Kavach Personal Loan for COVID treatment of self or your family members. This one of its kind loan comes at an interest rate starting from as low as 8.50% per annum and can be repaid easily in a tenure of up to 5 years, including the moratorium period of 3 months. You also get the reimbursement of expenses already incurred by you for COVID related medical expenses. With this loan scheme, the SBI bank aims to provide borrowers the access to instant monetary assistance during COVID 19 pandemic.
SBI Xpress Credit
- SBI Xpress Credit Personal Loan is offered to Salaried Employees who have salary accounts with SBI.
- You can get up to a maximum of up to Rs. 20 Lakhs as the loan amount.
- The maximum repayment period is 6 years.
- SBI personal loan interest rate for salary account holders varies between 10.60% to 13.85% p.a.
- 1.50% of the loan amount, minimum of Rs. 1,000 + GST & maximum of Rs. 15,000 + GST.
Pre-approved Personal Loans (PAPL) on YONO
- If you have an account with SBI, you can avail SBI PAPL instantly at your convenience through YONO app on 24*7 basis in just 4 clicks.
- At present, this loan is offered to a pre-selected category of customers on certain parameters pre-defined by SBI.
- Interest rate varies between 9.60% to 12.60% p.a.
- SBI offers low processing fee for Pre-Approved Loans through YONO.
- To check your eligibility SMS "PAPL" to 567676.
- These loans come with instant processing & disbursement in just 4 clicks .
- You don't require any physical documentation for these loans.
- No branch visit required.
SBI Pension Loan
- It is SBI personal loan for defence personnel, Central & State Government, and Family Pensioners who are below 76 years of age and whose Pension Payment Order is maintained with SBI.
- The maximum loan amount offered is Rs. 14 Lakhs for Defence and Central & State Government Pensioners. For Family Pensioners, it is Rs. 5 Lakhs. Loan amount eligibility depends on borrower's age, pension income, age, repayment tenure, and other factors.
- The maximum repayment tenure is up to 84 months for Defence Pensioners and 60 months for Family and Central & State Government Pensioners.
- Interest rate varies between 9.75% to 10.25% p.a.
- SBI offers 50% concession in the processing fee for SBI Pension Loan through branches till 31.01.2021