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

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SBI Personal Loan 

Personal loan is a kind of helping hand which helps you overcome financial issues. In the financial market there are many lenders who can provide personal loans. Most people get confused about where they can get a personal loan without any headache. For that SBI bank is one of the most trusted banks for personal facilities. 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. 

SBI Bank Personal loan Features

  • SBI provide a loan amount as high as Rs. 20 lakh to fulfill various personal needs with a single loan

  • SBI offers particular loan schemes to various categories of borrowers such as pensioners, salaried and self-employed

  • flexible tenure ranging from 6 months to 6 years

  • personal loan process involves minimum documentation and quick processing

Compare other banks personal loan interest rates

Banks Interest Rates
AXIS Bank Personal Loan 12% p.a.
SBI Personal Loan 11.30% to 16.40%
SBI Xpress Bandhan 12.15% to 15.15%
SBI Xpress Credit Personal Loan 11.65% to 14.65%
HDFC Bank Personal loan 10.75% p.a.
Kotak Mahindra Bank Personal Loan 10.75% to 17.99%
Yes Bank Personal Loan 10.99% to 20.00%
Yes Bank Personal Loan 10.99% to 20.00%
Citi Bank Personal Loan 10.50%
ICICI Bank Personal Loan 11.25% to 22.00%
Standard Chartered Bank Personal Loan 10.99% to 19.00%
IDBI Bank Personal Loan 12.00% to 13.50%
RBL Bank Personal Loan 13.99% to 18.00%
HSBC Bank Personal Loan 10.75% to 17.84%
IndusInd Bank Personal Loan 11.00% to 20.00%
Bank of Baroda Personal Loan 10.50% to 16.15%
Bank of India Personal Loan 12.15% to 14.15%
Canara Bank Personal Loan 13.00% to 14.00%

SBI Personal Loan types

SBI Xpress Credit Personal Loan

  • SBI salary account is mandatory

  • Loan amount ranging from Rs. 25,000 to Rs. 20 lakh

  • Loan tenure ranging from 6 months to 60 months

  Interest rate Loan amount
Term loan 10.85% - 11.35% Max. 20 lakh
Overdraft facility 11.35% - 11.85% Max. 20 lakh

SBI Xpress Bandhan personal loan

  • This personal loan is for those who are not having a salary account with SBI. The following are some of the key features of this personal loan:

  • Specifically focus on salaried employees of Defence Establishments/ Central Govt/State Governments/ Quasi Govt. and a few other top-rated companies

  • Min. Gross Monthly Income required to get this loan is Rs. 50,000

  • Max. EMI to Net Monthly Income ratio of up to 52%

  Interest rate Loan amount
Term loan 11.60% - 13.25% Max. 15 lakh
Overdraft facility 12.10% - 13.75% Max. 15 lakh

Eligibility Criteria for SBI bank personal loan

Before applying for 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 56 years at the time of loan maturity
Income Min. 15,000 INR

salary account with SBI is necessary. SBI Xpress Credit Personal Loan

  • You should be an employee of the state govt. PSUs institutions of national repute/selected corporates or central/state/quasi government organization/central /educational with or without relationship with the bank

  • Your min. monthly income at least  Rs. 15,000

  • Your EMI ratio should be below than 50%

SBI Xpress Bandhan

  • salary account with SBI not mandatory

  • You should be an employee of the state govt. PSUs institutions of national repute/selected corporates or central/state/quasi government organization/central /educational

  • Your min monthly income should be Rs. 50,000

  • Your EMI ratio should be up to 50%

Documents required for SBI Personal loan

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

Type Documents
Identity proof Adhar card, pan card, driving license, passport etc.
Address proof Aadhar card, voter id, rental agreement, registry, and utility bills
Income proof Last 3 months salary slip, last 6 months bank statement, latest ITR
For repayments modes

Duly signed loan agreement,

ECS form/Standing Instruction Request

SBI bank other loan products

SBI bank personal loan
SBI bank business loan
SBI bank holiday loan
SBI bank car loan
SBI bank commercial vehicle loan

How to apply for SBI Personal Loan

By multiple ways you can apply for personal loan i.e. by visiting the bank or through bank online portal

SBI Personal Loan online Apply process

  • 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 an application form

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

Other financial products 

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Last Updated on : 21/Jun/2020

Know More How To Apply ??

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) 12.75% - 14.75%
Processing Fees 1% + applicable tax
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Personal Loans EMI Calculator

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