SBI Personal Loan: EMI Calculator, Apply Online, Interest Rate, Customer Care Number

Apply Now

SBI BANK PERSONAL LOAN 

ABOUT SBI BANK PERSONAL LOAN :

SBI bank is one of the most trusted banks for personal facilities. It is an Indian multinational public sector banking and financial services. SBI established on 1 July 1995 and their headquarters in Mumbai. Even after retirement, you don’t have to worry about planning for your children's marriage, plan a trip, medical expenses, etc. you can do all such things with SBI personal loan feature. 

BENEFITS OF SBI BANK PERSONAL LOAN :

1. No hidden charges :

SBI Bank personal loan is not required any hidden charges 

2. Less documentation :

SBI Bank required less and simple documentation for the processing of personal loans.The documents submitted by the customers are KYC, address proof and income proof with the loan application form. It is not required to submit so many documents for a personal loan. The process of documentation is very simple and fast

3. Affordable interest rates :

The minimum interest rate of Indusind bank personal loans is 11.30% and the maximum interest rate is 16.40%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. 

4. Quick process :

The customers should be processing for the personal loan from SBI Bank in a very quick  and an easy way. So customers do not have to wait so many times for the processing of personal loans.

5. Flexible tenure  :

The SBI Bank personal loans are taken to meet their sudden needs of the customers. It provides a flexible loan tenure period of minimum 1 year and maximum 5 years.


FEE & CHARGES OF SBI BANK PERSONAL LOAN :   

TYPE 

CHARGES

Processing fees

1% of the loan amount plus GST

Charges 

No charges apply

                 

TYPES OF SBI BANK PERSONAL LOAN :

1. SBI Xpress Credit Personal Loan 

2. SBI Xpress Bandhan personal loan 

 

ELIGIBILITY CRITERIA FOR SBI BANK PERSONAL LOAN :

Before applying for an SBI Personal loan must check whether you are eligible or not. Here listed down key features for eligibility criteria.

ELIGIBLE 

Salaried, self-employed, private sector employees, government employees, doctors, teachers, Employees of various public and private companies, local bodies. 

AGE

21 years to 60 years at the time of loan maturity

INCOME

Minimum net monthly income should be Rs 5000

 

DOCUMENTS REQUIRED FOR SBI BANK PERSONAL LOAN :

Without these crucial documents loan can’t be sanctioned. Here below list of the entire mandatory documents:

TYPE

DOCUMENTS

Identity proof

Aadhar card, pan card, driving license, passport etc.

Address proof

Aadhar card, voter id, rental agreement, registry and utility bills

Income proof

Latest salary slip/Form 16/last 6 months account statement audited/ITR return for last 2 yrs

 

COMPARE OTHER BANK PERSONAL LOAN INTEREST RATE :

BANKS

INTEREST RATES

AXIS Bank Personal Loan

12% to 24%

SBI Personal Loan

11.30% to 16.40%

SBI Xpress Bandhan

12.15% to 15.15%

SBI Xpress Credit Personal Loan

11.50% to 12%

HDFC Bank Personal loan

10.75% to 21.50%

Kotak Mahindra Bank Personal Loan

10.50% to 16.99%

Yes Bank Personal Loan

20.00% to 22.00%

Citi Bank Personal Loan

10.50% to 17.99%

ICICI Bank Personal Loan

10.99% to 16.25%

Standard Chartered Bank Personal Loan

11.00% to 19.20%

IDBI Bank Personal Loan

12.00% to 14.00%

RBL Bank Personal Loan

14.00% to 23.00%

HSBC Bank Personal Loan

10.75% to 17.84%

IndusInd Bank Personal Loan

11.00% to 16.75%

Bank of Baroda Personal Loan

7.65% to 12.65%

Bank of India Personal Loan

12.15% to 14.15%

Canara Bank Personal Loan

12.05% onwards

 

OTHER PRODUCTS OF SBI BANK PERSONAL LOAN :

1. SBI Bank Personal Loan

2. SBI Bank Business Loan 

3. SBI Bank Car Loan 

4. SBI Bank Holiday Loan 

5. SBI Bank Commercial Vehicle Loan 

 

HOW TO APPLY FOR SBI BANK PERSONAL LOAN :

By multiple ways you can apply for personal i.e. 

1. OFFLINE METHOD : By visiting to the bank

2. ONLINE METHOD :

  • Go to SBI bank official portal

  • At home page go to “personal”  and click on “Loan” 

  • In loan section click on “ personal Loan”

  • Choose the personal loan that’s best suited to your demand

  • Fill the application form

  • Attached all required documents with application form

  • After submitting your application form you will get notification through bank about loan status

 

HOW TO CALCULATE EMI OF SBI BANK PERSONAL LOAN :

The following formula is used to calculate EMI of SBI Bank personal loan :

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

where,

EMI = Equated Monthly Installment

P = Principal Loan Amount

R = Monthly Interest Rate

N = Number of Monthly Installments

 

FREQUENTLY ASKED QUESTIONS :

1. What is the maximum interest rate charged by SBI Bank personal loan?

The maximum interest rate charged by SBI Bank personal loan is 16.40%.

2. How do I get in touch with SBI customer care?

By Phone: You can call the bank at toll- free numbers 1800-425-3800 or 1800-11-2211

By email: You can send an email to contactcentre@sbi.co.in or you can visit the nearest SBI branch

3. What are the SBI personal loan amount limits?

The minimum amount that you can take as a personal loan is Rs. 25,000 and the maximum loan amount currently is Rs. 15 lakh.

4. How much charges should be applied for SBI Bank personal loan?

No, there is no charges apply for SBI Bank personal loan 

5. What age is required for SBI Bank personal loan?

The age should be 21 years to 60 years required for SBI Bank personal loan 

Last Updated on : 07/Nov/2020

Know More About

Sbi Personal Loan

You're eligible for a Sbi Personal Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Personal Loans is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Sbi Personal Loan Interest Rates

Updated on 25 Nov 2017

Sbi Personal Loan Details
Interest Rate (Monthly reducing balance) 11.3% - 16.4%
Processing Fees 1% of loan amount + applicable tax
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959