SBI Personal Loan

SBI Personal Loan
 4.0 / 5.0   by 34 users
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Fees & Charges

Promised Interest Rate

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Responsiveness

State Bank of India (SBI) is a government-owned bank with its headquarters in Mumbai, Maharashtra. State Bank of India (SBI) offers some of the most exciting Personal Loan products in India. SBI offers 4 exciting types of Personal Loans:Xpress Credit Personal Loan, SBI Saral Loan, SBI Festival Loans, Personal Loans to pensioners. Read on to view full details on what it takes to qualify for an SBI personal loan. By providing a few details about yourself, you can check your eligibility for an State Bank personal loan in seconds.


You’re probably eligible for an SBI Personal Loan if you are

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SBI Personal Loan Minimum Age

At least 21 years old

SBI Personal Loan Maximum Age

Less than 58 years old

SBI Personal Loan Eligible Employment Type

Salaried / Self – Employed
with regular income

SBI Personal Loan Minimum Income

Earn more than the minimum
income required


Your SBI Personal Loan amount eligibility is based on these factors

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SBI Personal Loan Minimum Salary

Minimum income required
Rs.24,000 per month

SBI Personal Loan Maximum Loan Funded

Maximum allowed personal loan is Rs. 10,00,000 lakhs

SBI Personal Loan EMI

EMIs of other loans lower
your eligibility


Increase your eligible SBI Personal Loan amount by these steps

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SBI Personal Loan Payoff Outstanding Credit Card Bills

Pay off your credit card bills

“SBI

Choose longer tenure loan up to 5 years


Documentation needed to apply for an SBI Personal Loan

  • 1. Signed application form with photograph
  • 2.Proof of identity: Passport/voter ID card/driving license
  • 3. Processing fee cheque
  • 4. Last 3 months bank statement/6 months bank passbook
  • 5. Documentation for salaried applicants:
    • Latest salary slip
    • Current dated salary certificate with the latest Form 16
  • 6. Documentation for self-employed applicants:

    • Latest Bank statement
    • Latest ITR or Form 16

SBI Personal Loan Interest RatesUpdated on 21 Aug 2014

SBI Personal Loan Details
Interest Rate (Monthly reducing balance) 14.20%
Processing Fees 2.00% - 3.00% of the loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges -
Guarantor Requirement No guarantor required

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News about SBI Personal Loan

  • Golden rules for personal loans!

    Personal loan being a very popular financial instrument for riding a short term financial crunch, many people go for it without too much introspection. However, it is true that personal loans are a real help in emergencies, as one can avail it without any collateral as security, depending on one’s financial health and past payment credit history.Read more

    6th March 2014

  • Personal loan waivers and benefits!

    The growing competition among financiers to tap the financial affluence in the country by providing more and more personal loans has been a boon to the customer who now enjoys a host of additional benefits that are being offered by the banks and financing institutions. There are several wonderful schemes on offer which make the experience of availing a personal loan all the more pleasant. The wide range of innovative features that are attached to a simple personal loan to make it appear irresistible is a direct product of the competitiveness that exists in the market today among financiers of all categories.Read more

    18th December 2014

  • Personal loan options for entrepreneurs!

    Personal loans are by far one of the most popular financial instruments used by many entrepreneurs to fill their short term financial requirements. There can be a limit to the amount an entrepreneur can avail as personal loan.Read more

    25th February 2014


SBI Personal Loan Reviews

100 % of our customers would recommend this bank. (34 out of 34) Write Review
Customer Reviews
Page 1 of 2 1 2
  • Validated User
    (2)

    My experience of availing a personal loan from SBI was very good. They demanded for so many documents and they took almost a month for disbursing the loan. Customer service really needs improvement. Rate of interest & processing fees are very good when compared to other banks. I would recommend the bank for people looking for lower interest rate and ready to face some challenges.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have approached SBI its a Government Sector Bank and so even in future for the loans the processing fee would be less once after become of the bank and verification process would be easier for the following loans and i want to know more in depth details of about applying personal loans and credit cards in sbi bank i could get proper information from the bank and i could not reach the correct person.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Actually, one of my friend is in State bank of India as Probationary officer, i was able to get loan. They gave me 12.5% and its 1% processing charges. It was good approach from customer service and as applied through my friend, they took just 10 days for processing. They just need the PAN card, address proof and the cheque book, and also salary slip for the processing.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    very good registration fee is within normal limit but rate of intreast is high ,service is excelliant on line registration ,your serviceman should contact coustomar on verified contact number. it support the client very gooddddddddddddd

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    State Bank of India personal loan it is really these people are very prompt and the application process they have done is very quick and they have reduced the processing fess as well and i guess i got the personal loan amount in three to four days.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I am a credit card holder of SBI and I have recently availed a personal loan against the card. There was an offer from the bank for an amount of 6 lakhs and they disbursed the loan within 2 days without any documentation. Rate of interest was 10.50% however when I calculated manually the rate of interest seems to be high around 16 to 18%.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    The personal experience was good when i took the personal loan from State Bank of India and the processing and documentation was good and the customer service executive are very friendly in approach and the loan amount got processed in very quick time.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    the bank takes care the coustomers very well and they keep up time and online provider is awesome lots of security for online banking. no problem in coustomer care and they are polite and supportive.no making us wait in ques or like hours to get work done

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I have taken a personal loan from SBI couple of times and last time I have availed the loan in the year 2011. There was a little difficulty in availing a loan because they have taken of plenty of time to process & disburse the loan. I want to tell one thing about SBI is the rate of interest is much more transparent than private banks where we need to do more calculations. One big advantage is that I am a salary account holder of SBI therefore the loan process was simple & easy. It would be better if the nationalized banks speed up the processing.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • (8)

    i like sbi , because of them service and rates. their plan and rates are very very good and also their's service is best , i know some time they go to wrong way but overall i want to give sbi 4 star out of 5 , i also like sbi because of their prodectivite .

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    took a Personal Loan from STATE BANK OF INDIA Reviewed on
  • Validated User
    (1)

    I got the loan which took 2 months of time. I have applied and they asked lot of documents, one month to verify and its not easier. Interest rate is high compared with other banks. Customer service way of approach is not good as I have to follow up on everything. I would say document verification time must be less and even customer service has to get improvised by following up.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Before going to apply for ICICI and Bank bazaar I have contacted SBI they have provided very good rate of interest and they offer good rat e of interest they maintain a good documentation all the documents they ask the burden of the loan not much they have maximum tenure of repayment plus if I think they offer we can additional amount apart from EMI they said that we can pay EMI .

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    State Bank of India credit card holding for three years and its a gold credit card the benefits are we can have balacne transfer with a lesser interest rate, we can carry on the pending amount at lesser interest rate ,they give EMI options and they take less charges for the EMI conversion when compared with other banks.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    I have easily availed a personal loan from SBI last month as I was holding a salary account. I was able to get the expected loan amount from the bank. Processing fees was just 1% of my loan amount and the rate of interest was pretty much low compared to any other banks. Best part is no hidden charges and the processing was much faster.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    Had a great experience of availing a personal loan from SBI couple of years ago. Documentation was very simple and the processing of the loan was completed in just 3 days. Rate of interest & process fees are quite lesser than other banks in the market.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    SBI Savings Bank is good their minimum balance is just rs 500a and there are not up to the mark when it comes to service as the transactions is getting declined they are unable to provide a proper reason for that that are not good in providing solution to the customer on calls and their IVRS options is also complicated and it takes about 15 minutes its not a ideal system

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (1)

    State bank of India i applied for a personal loan the processing and the documentation took a long time and customer service executive was not responding to the queries i need to call up to the bank on the status of the loan it was a very disappointing service and the whole process got completed in a week time.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    when i apply for the personal loan from state bank of India there are many formalities and its a government bank so they have many formalities to be processed, the customer service respond was good, in maximum fifteen days i got the loan amount.

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    Fees & Charges
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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    It was good, it was just a one day process. I had a word with the lady and it just took 3 days to disburse the loan. The executive was good and was really helpful in getting the loan. I don't have no issues with their interest rate and processing charges. ON line banking is good. Suggestion is whenever i call to toll free number, there is no response but if i call the other number, am getting connected.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
  • Validated User
    (0)

    I applied for the personal loan from State Bank of India the processing and the documentation was very quick and the customer service executives are very friendly and they updated me on the status of the loan and the whole process got completed in then days and the EMI was affordable.

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    took a Personal Loan from STATE BANK OF INDIA on BankBazaar.com Reviewed on
Customer Reviews
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