SBI Personal Loan


SBI Personal Loan 

SBI personal loan is an unsecured loan and you don't need any collateral to vail the same. This can be availed by

  1. Salaried Professionals (Salary getting credited to Bank Account)
  2. Self Employed Professionals like Doctors, Architects, CA etc
  3. Self Employed Non Professionals who runs a Business (Like Trader, Manufacturer etc)

It is unsecured loan meaning there is no collateral being mortgaged by the bank and is given on the personal guarantee of the individual. SBI Personal Loan are available across all urban centres in India like Delhi, Jaipur etc. It is given based on monthly source of income like Salary (credited in to account or by cheque) or from Business (based on the past ITRs, Monthly transactions in Bank Account) etc.

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Purpose of SBI Personal loan

SBI Perosnal loan is granted for any legitimate purpose whatsoever (e.g. expenses for domestic or foreign travel, medical treatment of self or a family member, meeting any financial liability, such as marriage of son/daughter, defraying educational expenses of wards, meeting margins for purchase of assets etc.)

SBI Personal loan Eligibility

You are eligible if you are a Salaried individual of good quality corporate, self-employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing.

Personal Loan Amount Eligibility for SBI

Your SBI personal loan limit would be determined by your income and repayment capacity.

Minimum salary:

  1. Rs. 24,000/- in metro and urban centre like Delhi, Jaipur etc
  2. Rs. 10,000/- in rural/semi-urban centre
  3. Maximum : 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centre

About State Bank of India (SBI)

State Bank of India (SBI) is the largest Bank of India with approx consolidated assets of USD 500 billion and profit of USD 1.5 billion for the year ended March 31, 2018. SBI currently has a network of approx 13,000 Branches and 59,291 ATMs across India. It is headquartered in Mumbai, Maharashtra, India.

SBI Personal loan Interest rate 

Interest rate would vary from 11.75% onwards. You can look at the EMI calculator here for calculating your EMI. EMI calculator

SBI Personal loan processing fees

  • Up to 3% of Loan amount is charged by SBI for SBI Personal loan.

Repayment Period

  • Personal Loans from SBI can be taken for duration up to 5 years.

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