Multiple banks. Different interest rates. Call it a "conflict of interest".
  • SBI Personal Loan

    SBI Personal Loan
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    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

    01
    02
    03
    04
    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

    01
    02
    03
    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

    01
    02
    SBI Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    “SBI

    Choose longer tenure loan up to 4 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 30 Aug 2015

    SBI Personal Loan Details
    Interest Rate (Floating) 18.20%
    Processing Fees 2.02%-3.03% of the loan amount
    Loan Tenure 4 years
    Pre-closure Charges Nil
    Guarantor Requirement No guarantor required

    About SBI Personal Loan

    State Bank of India, the largest public sector bank in the country is one of the most preferred banks in India when it comes to personal loans. SBI offers personal loans for both salaried and self employed individuals to counter any sort of immediate financial requirements. State Bank of India does not seek any security or collateral requirements for personal loans. The bank does not seek guarantees or collateral’s of any forms for personal loans. The money made available to the borrower through SBI personal loan can be used as per the personal requirements for the individual without any restrictions and the bank is not having any criteria for this. SBI personal loans can be useful to counter for any of the following financial requirements:

    • Marriage related expenses in the family
    • Foreign travel
    • Health or medical treatment related expenses
    • Personal financial requirements
    • Other miscellaneous expenses

    State Bank of India offers personal loans at low interest rates and with seasonal offers from time to time, making it one of the most popular choices for borrowers. Low processing fee with zero prepayment penalties and no hidden charges make SBI personal loans a popular choice with both salaried, self employed and working professionals.

    State Bank of India offers personal loan up to 12 times the net monthly income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs with repayment tenure of 48 months. SBI has initiated a quick loan approval system making sure that all personal loan requests are approved in a maximum period of 3-4 days of submission of complete documentation.

    Why choose SBI Personal Loan?


    Attractive Rate of Interest:

    State Bank of India charges very nominal interest rate for its personal loans making it one of the most popular banks when it comes to personal loan requirements. The interest charged by the State Bank of India is on a daily recurring balance basis thereby ensuring maximum benefit to the loan borrower.

    Timely Discounted Schemes:

    State Bank of India is one of the first banks to offer personal loans at discounted rates under various loan seasonal schemes at different festive seasons of the year. State Bank of India offers discounted schemes for individuals including government employees, doctors and other professionals.

    No Hidden Charges:

    State Bank of India is known for its transparency when it comes to charges and penalties for any personal loan. SBI personal loans come with absolutely no hidden charges and the transparent dealings makes it one of the preferred bank by millions of Indians.

    Zero Prepayment Penalty:

    State Bank of India offers a zero prepayment penalty allowing loan borrowers the freedom to prepay their loan as per their convenience. In case if the loan is being repaid before six months of the loan approval date, the bank charges 1% of the loan amount as prepayment charges.

    Quick Loan Approval:

    State Bank of India has streamlined its personal loan division in order to facilitate quick loan approval and disbursal, bringing it at par with international banks. SBI personal loans follow a quick approval mechanism for both urban and rural centers.

    Online Loan Submission:

    State Bank of India facilitates online loan submission making it easier for people to apply for personal loan from anywhere Users can apply for a personal loan sitting at the comforts of their home or office, without physically visiting a bank branch.

    Features of SBI Personal Loan

    SBI offers a number of benefits and features for its personal loans including low interest rates, minimal documentation and quick approval. SBI offers various discounted schemes for personal loans at various times in a year catering to a large section of both urban and rural population. Some of the prominent features of SBI personal loan include:

    High Quantum of Loan:

    State Bank of India offers a high quantum of personal loan making it one of the most preferred banks by a large number of people. State Bank of India offers a personal loan up to 12 times the net monthly income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs

    Low Interest Rates:

    State Bank of India offers attractive Personal Loan Interest Rates at daily reducing basis making it one of the best personal loan service providers in the country. Currently SBI personal loans are available at 8. 50% above base rate floating, currently 18.50% per annum. The bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion.

    Fast Processing:

    State Bank of India is a leading bank in India with branches in every nooks and corners of the country. The bank has streamlined its personal loan division allowing for quick localized loan approval and disbursal.

    Specialized Loan Schemes:

    State Bank of India offers personalized schemes at lucrative interest rates for various working professionals and salaried individuals from time to time. State Bank of India also offers discounted personal loan schemes during major festivals making it a popular choice for both rural and urban applicants during times of financial requirement.

    24/7 Customer Support:

    State Bank of India has a dedicated customer support helpline for its loan section allowing applicants and loan borrowers to get in touch with the bank for any queries or grievances in 24 hours a day.

    Different types of SBI Personal Loans

    The State Bank of India has long been known for providing personal loans for you that are designed to be easy for you to apply for and, most importantly, easy for you to pay back. SBI offers people four different types of personal loans that have to be tailored to suit individuals and their individual needs. So, without further ado, these are four of the personal loans that you can avail from SBI.

    Xpress Credit Personal Loan

    As the name suggests, this loan has been designed to get you cash when you need it in a hurry. The processing charges are low, there are no hidden charges and there is minimal documentation required. There aren’t any pre-payment charges either

    SBI Saral Personal Loan

    The SBI Saral Personal Loan is meant to provide people with the opportunity to have access to money for various things like payments for vacations, medical bills or even clearing financial liabilities. As long as the the applicant has a valid reason to apply for the loan, it might get approved subject to the banks terms and conditions. The processing charges will be anywhere between 2.02% to 3.03% of the loan amount.

    SBI Pension Loan / Jai Jawan Pension Loan

    This type of a personal loan is provided to pensioners who are drawing their pensions from the central or the state government. If you apply for this loan then you will have to pay a nominal processing fee and there will be no extra charges levied for early payments

    SBI Festival Personal Loan

    In case there is a festival coming up and your plans for celebrating it are threatened by a shortage of money you can go in for a Festival Loans

    Why apply for a SBI Personal Loan on BankBazaar.com?

    Instant Loan Eligibility Check:

    BankBazaar.com offers instant loan eligibility check using the personal loan calculator tool. Our personal loan eligibility calculator instantly checks the loan eligibility of applicants based on banks norms and offers the unique personalized quotes for each applicant. All you need to do is just to enter your monthly income.

    Competitive Interest Rates:

    BankBazaar.com has collaborated with State Bank of India for online personal loan submissions. Users’ submitting their personal loan applications to SBI through BankBazaar.com get a competitive rate of interest reserved exclusively for BankBazaar.com members.

    Active Loan Comparison:

    BankBazaar.com offers active loan comparison for borrowers to choose the best suited loan as per their requirement. BankBazaar.com also provides social interaction with previous loan applicants of various banks which can help the applicant choose the best service provider keeping in view the satisfaction of previous and existing customers.

    Instant E-Approval:

    All loan applicants will get an instant e-approval after successfully submitting his or her loan application through BankBazaar.com.

    Real time Loan Application Tracking:

    Users can track the status of their loan application through mail or SMS, using the e-approval track code provided by BankBazaar.com. BankBazaar.com also updates the user on his or her loan application status in real time.

    Assured Privacy :

    All personal data submitted by applicants to BankBazaar.com is 100% safe and secure.

    How to apply for a SBI Personal Loan on BankBazaar.com?

    Applying for a State Bank of India personal loan at BankBazaar.com involves three easy steps.

    Step 1: Enter personal details:

    The loan applicant needs to fill up the loan eligibility form with correct personal data and income details. The tool then instantly checks for personal loan eligibility based on the bank’s yardsticks and gives results.

    Step 2: Choose from the options:

    In the second step, the applicant is given a list of loan options as per his or her financial history. At this point, users can compare various loan options and choose the most appropriate one. Users can see the comments section where previous personal loan applicants share their views about various banks and NBFCs.

    Step 3: Submit Application:

    Once you finalize the scheme, loan amount and tenure, click 'submit'. Your request will be immediately transferred to the bank. The applicant also receives an instant e-approval from BankBazaar.com on successful submission of application online.

    SBI Personal Loan Interest Rate

    SBI Xpress Credit Personal Loan Interest Rate

    • The base interest rate will be 10% as of the 7th of of Nov, 2013
    • In case of a full check off, your interest rate will be base rate plus an additional 3% to 3.5%. This means your interest rate will actually be 13% to 13.5%
    • If you go for a partial check off then the interest rate will be 4% to 4.5% added to the base rate. In this case the interest charged will be 14% to 14.5%
    • If you don’t plan to go in for a check off then the interest rate will be 5% to 5.5% added to the base rate of 10%. Which means that the interest charged will be 15% to 15.5%

    SBI Saral Personal Loan Interest Rates

    The interest rate will be 8.5% added to the current floating base rate of 10% per annum so your actual interest will be 18.5% p.a.

    SBI Pension Loan / Jai Jawan Pension Loan Interest Rates

    The interest rate for the Jai Jawan Pension Loan scheme will be 4.75% added to the base rate of 10%, bringing it to a total of 14.75% per annum.

    SBI Festival Personal Loan Interest Rates

    The interest rate will be the base rate of 10% with an additional 6.75% added to it making it a total of 16.75% per annum.


    Minimum Loan Amount Rs.24,000/- in metro and urban centers
    Rs.10,000/- in rural/semi-urban centers
    Maximum Loan Amount 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs in all centers
    Tenure: 12 to 48 Months
    Processing Fee: 2.02% - 3.03% of the loan amount.
    Prepayment Charges: Nil
    Interest Rates: Personal Loans Scheme (SBI Saral): 8. 50% above Base Rate floating, currently 18.50% per annum.
    SBI Loan to Pensioners (all variants): 4.75% above Base Rate, currently 14.75% p.a.
    #Base Rate 10.00% w.e.f. 07.11.2013

    SBI Personal Loan Eligibility

    State Bank of India offers personal loans to all applicants fulfilling the basic eligibility criteria. State Bank of India personal loans are available to all salaried individuals of good quality corporate as well as self employed individuals and working professionals including engineers, doctors, architects, chartered accountants and MBA’s with a minimum 2 years of standing period.

    SBI Xpress Credit Personal Loan Eligibility

    • Net Monthly Income must be at least Rs. 7,500 per month
    • The applicants EMI/NMI (Equated Monthly Instalments / Net Monthly Income) ratio must not exceed 50

    SBI Saral Personal Loan Eligibility

    If you fall into any of the following categories then you can apply for this personal loan.

    • Self employed engineer
    • Doctor
    • MBA grad with a minimum of 2 years worth of experience
    • Chartered Accountant
    • Architect

    SBI Pension Loan / Jai Jawan Pension Loan Eligibility

    • The person applying for the pension loan must not be over 76 years of age
    • The person must be drawing a pension from the central or state governments and have his/her pension account with SBI
    • If the family pensioner is the spouse of a pensioner who is authorised to receive the pension then they too must not be over 76 years of age.

    SBI Festival Personal Loan Eligibility

    • Government employees or those working for PSU’s or even private or public institutions/establishments are eligible for this loan as long as they have a minimum of 2 years of service.
    • If the applicant is self-employed then a minimum of 3 years of experience is a must
    • In case the applicant does not meet the first condition then they can be eligible if they have a verifiable source of regular income like pension or interest from TDR or NSC or Govt Securities.
    • The applicant must have a net monthly income of Rs.3000 or more
    • If the applicant wants the spouse’s income also to be considered then the spouse should guarantee the loan or turn it into a joint loan.

    Eligibility Criteria for Salaried Individuals

    Age Minimum: 21 Years Maximum: 58 Years
    Minimum Income Salaried individuals with minimum monthly income Rs.5000
    Total years in job/profession 2 Years
    Years in current residence 1 Year

    Eligibility Criteria for Self Employed Individuals and Working Professionals:

    Age Minimum: 21 Years Maximum: 65 Years
    Minimum Income Self Employed individuals or working professionals earning a minimum of Rs. 7000 per month
    Total years in Profession 2 Years

    How to Calculate EMI for SBI Personal Loan

    BankBazaar.com offers users a unique Personal Loan EMI Calculator to calculate EMI's. It helps the users to get an idea of the loan liability beforehand and apply for an affordable loan. Users simply need to type the loan amount they wish to apply or as per their eligibility, choose a loan tenure and rate of interest. The EMI calculator instantly calculates and displays the EMI liability for the loan.

    SBI Personal Loan FAQs

    • What is the best way to apply for SBI Personal Loan online?
    • You can apply for State Bank of India personal loan online with ease through BankBazaar.com. You simply need to enter your personal as well as income details, the amount and tenure you wish to apply. BankBazaar.com’s loan tool instantly calculates your personal loan eligibility and provides available options for you. You can choose a scheme and apply online with just the click of a button.

    • What is the minimum and maximum amount of personal loan available with SBI?
    • State Bank of India offers minimum amount of Rs. 24, 000 in metro and urban centers and Rs.10, 000 in rural/semi-urban centers for personal loans. The maximum amount is 12 times net monthly income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs for both rural and urban centers.

    • What is the maximum available tenure for SBI Personal Loan?
    • State Bank of India personal loans have a tenure period ranging from 12 months to 48 months depending on the quantum of the loan.

    • Why should I apply for SBI personal loan through BankBazaar.com?
    • Applying for SBI personal loan through BankBazaar.com offers the users the convenience of getting instant loan approval, without visiting a bank branch. Users are also eligible for competitive rate of interest along with instant E-approval of the loan right at the time of submission of loan application. Users are also able to track the status of their online loan application in real time with updates available through both email and SMS.

    • Does BankBazaar.com levy any charges for applying through them?
    • BankBazaar.com does not charge its members for using the online loan calculator tool. The services provided by BankBazaar.com are absolutely free.

    • Is my data safe with BankBazaar.com?
    • BankBazaar.com uses a high degree of encryption while sending personal data of loan applicants to the respective banks. All data with BankBazaar.com is never shared with any third party except the loan department of the designated bank.

    • Do you provide customer support on phone?
    • BankBazaar.com offers 24/7 customer care helpline for both existing members as well as personal loan applicants through phone and email.

    • After receiving e-approval from BankBazaar.com, how long it will take to receive the money?
    • BankBazaar.com instantly transfers your pre-approved loan application to your nearest SBI branch. A person from the branch gets in touch with you within 48 hours to collect original documents and the whole procedure for applying a SBI Personal Loan will take less than 72 hours if you have all the papers ready with you.


    News About SBI Personal Loan

    • SBI actively handles customer queries on social media

      Government owned State Bank of India is most active on social media and address the customer complaints and queries as per the report released by Simplify 360. The report analysed 9 banks which collected all the mentions of all the 9 banks on Twitter and Facebook.

      SBI replied to 41 per cent of the queries. SBI has a little over 2 lakh followers on Twitter and is most active with 3 posts per day on Facebook.

      The report took into consideration the social media interaction from June 13 to June 28. The 9 banks included were SBI, HDFC Bank, Yes Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Citibank, IDBI Bank and Standard Chartered Bank.

      15th July 2015

    • A Possible Merger: State Bank of India (SBI) and Bharatiya Mahila Bank (BMB)

      Bharatiya Mahila Bank (BMB), a UPA-led initiative taken in the year 2013, might undergo a possible merger with State Bank of India (SBI). Reportedly, a proposal is being considered and discussions are in progress but a concrete decision is yet to be taken.

      While SBI itself hasn’t confirmed on anything official, talks are already on in the Finance Ministry. About 20 months old, BMB is a relatively small bank with 62 branches, Rs. 1000 crore capital, a speculated loan book of Rs. 200 crore and zero non-performing assets. Taking this into account, consideration of a merger with SBI isn’t actually rocket science. Adding on to the news, reports are in about BMB’s Chairman and MD Usha Ananthasubramanian attending interviews conducted for selection of managing directors and chief executives of public sector banks.

      As of July, 2014, suggestions for consolidation of state-run banks were to be welcomed by Finance Minister Arun Jaitley. But even with all these facts, only presumptions can be made till something conclusive trickles down from the Finance Ministry.

      2nd July 2015

    • SBI ropes in advisor to improve its stagnant SME Business

      The country’s biggest bank SBI has realised that its SME business has been stagnating for the past 3 years and accounted only for 13.56% of the bank’s loan portfolio. To correct the situation it has decided to take the help of advisors to help it do so. Their decisions also includes the decision to reduce their balance sheet finance portfolio.


      The bank’s representatives claimed that they intended to take advantage of the improvement in the economy and use that to drive their SME business. They are also seeing favourable signs in the e-commerce sector since it has seen good growth and lots of new players recently. They are also planning to target offline industries like franchises from the beauty health and food industries.

      26th June 2015

    • Baa3 Rating for SBI by Moodi’s

      State Bank of India has managed to hold on to its Baa3 rating for local and foreign currency deposits, indicating a positive outlook for the bank. Moody’s the global rating agency retained the Baa3 rating in spite of certain doubts cast over the banks performance. The present ratings are a reflection of the moderate macro profile in India and the standalone financial profile of the bank. The deteriorating asset quality of the bank due to corporate exposure have not dented its image in the eyes of Moody’s.


      State Bank of India also retained the Baa3 rating for its senior unsecured medium-term note programme and for the senior unsecured debt issued through its branch in London. Moody’s changed the Baseline Credit Assessment of State Bank of India to Ba1.


      The Counter-Party Risk Assessment of SBI and its branches was also rated Baa3 / P-3 by Moody’s. SBI also received a very high probability of support in the unforeseen event of financial distress, stemming from the fact that the bank is extremely important in the domestic circuit and also partly because the government owns a 59.2% stake in the bank.

      24th June 2015

    • SBI launches online loan application platform

      State Bank of India, the country’s apex bank has launched an online platform for filing of loan applications. Customers can now know their eligibility and get personalized loan quotes by applying online for all kinds of loans like home, car, education and personal loans.


      This move has been made for easing the application process for customers and also for reducing the loan processing time taken by the bank. Customers can upload relevant documents online, after which their loan will get an instant e-approval. Once this step is achieved, bank officials will get in touch with customers for completion of loan formalities.


      SBI will soon launch a similar application on the mobile platform too.

      2nd June 2015

    • SBI enhances digital presence with new tie-ups

      In a bid to enhance their online presence, SBI has signed an MOU with e-tailer Amazon. The tie-up is aimed at creating viable payment solutions. This move is expected to add value to both small and medium businesses as well as retail customers.


      Additionally, SBI will try to promote business of SMEs by providing loans to expand their business. If possible, SBI might channels its products through Amazon, further bridging the gap between its growing online customer base and its online offerings.


      In keeping with its overall strategy to strengthen its products and services technologically, the bank launched its contactless cards viz. its debit cards and the SBI Signature credit card.

      27th May 2015

    • SBI Offers Personal Loans at Home Loan Interest Rates

      There is good news for SBI customers who have already taken a home loan from SBI. They are now being offered personal and top-up loans at the same interest rates as they are paying for the home loans. The offer is, of-course, subject to conditions like customers should have been regular with the payments of their home loans. This means that top-up loans between Rs. 2 crore and Rs. 5 crore will have rates of 11.25% while loans between Rs. 2 crore and Rs. 10 crore will have interest rates of 10.75%.


      Under the current personal loan interest rates issued by SBI, borrowers can take the personal loan at a rate of 13% to 18.5% but under the new promotional scheme they may pay as little as just 10.15% interest. The bank has also announced that women will get a slightly reduced interest rate of 10.10%. The news is even more welcome because even though the RBI has announced cuts in interest rates most banks are reluctant to cut their lending rate. They are citing dire effects on their bottom lines because of a reduction in borrowing as the reason for not reducing the interest rates.

      13th March 2015

    • SBI to Increase Focus on Loan Growth, Maintain Quality

      While most banks are formulating new ways to get ahead of the competition, SBI has decided to slow down and take stock of their growth trajectory. As the largest lender in India, SBI has a strong loan book catering to various segments. However, SBI has had to increase its focus on NPAs which had reached record numbers in the year 2013. Under the able leadership of Arundhati Bhattacharya (SBI chairman), the bank has reduced gross NPAs by about Rs.6,000 crores last year. The benefit of tighter control over bad loans was reflected in a higher stock price which rose 8% on announcing financial results for the quarter ending December 2014.


      SBI now aims to keep bad loans in check by adopting a risk-based approach to lending. It has thereby revised projected loan growth rates to 10% from 15% for this fiscal year.


      SMEs and unsecured credit contributes largely to NPAs as these segments are prone to defaults in a bad economy and recovery is difficult. Personal loans and loans to small and medium business entities are key areas for banks to monitor in order to maintain asset-quality.

      18th February 2015

    • SBI Reaches Out To Business Community

      State Bank of India (SBI), the country’s largest lender, organised a meet with the trading community where it briefed members about the various loan schemes available to them from SBI. Some of the schemes the community can avail are asset backed loans, rent plus etc. SBI’s loans to businesses feature low interest rates and minimum processing charges making them attractive offers when compared to other lenders.


      With an uptick in corporate credit growth, banks are expecting more demand from SME segments for credit which will boost overall loan growth and thereby increase profitability. Positive economic impetus through government-led policy action has led to expansion in business activity. More funds are expected to be sought to promote expansion thereby providing opportunities for banks to capitalise on. Banks with strong capital adequacy ratios will be poised to meet and take on new loan accounts.

      16th February 2015

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    SBI Personal Loan Reviews

  • Page 1 of 8 1 2 3 4 5
    • Personal Loan
      "Good "
      STATE BANK OF INDIA
      0.5 3.0/5 "Satisfactory"
      The rate of interest for the personal loan is okay with the State Bank of india. The services are good with them and it took around a month of time to disburse the loan. They delayed in the documents checking process and they should disburse the loan within a week of time but they failed to done that.
      Was this review helpful? 2
      , guwahati
      Reviewed on Aug 26, 2015
    • Personal Loan
      "Very good "
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I am holding all sort of products with SBI and that was the major reason for SBI providing this personal loan. I have to wait for about an hours time to reach their customer service. No discount was given on the interest rate and processing fee and there is no hassle as such.
      Was this review helpful? 0
      , madurai
      Reviewed on Aug 25, 2015
    • Personal Loan
      "Express loan"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      For the salary account holders in State Bank of India there is very good loan offer always available; express credit. Interest rate charged in this loan is around 17% which is pretty high. But the loan is processed in just 2 days time. I have availed this service from State Bank of India and I am benefited with it.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 25, 2015
    • Personal Loan
      "Not Good"
      STATE BANK OF INDIA
      0.5 0.5/5 "Unacceptable"
      I had the worst experience with Sate Bank of India in regards to my personal loan with them. Application process is very lengthy and complicated, bank expects us to have two guaranteers for loan processing. Documentation is also very long. They even tried to forcefully introduce insurance along with my loan.
      Was this review helpful? 1
      , dhanbad
      Reviewed on Aug 24, 2015
    • Personal Loan
      "Bad Resposne.."
      STATE BANK OF INDIA
      0.5 3.5/5 "Pretty good"
      It was 10 years back, I applied for a personal loan in stat bank of India. They had lot of formalities. They did verifications many times and then they provided me the loan. I just denied it. The manager was not willing to give me a loan. Rate of interest was good.
      Was this review helpful? 2
      , mangalore
      Reviewed on Aug 21, 2015
    • Personal Loan
      "Hassle Free!"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I took a personal loan with State bank of India in 2010. The process is hassle free and I got the loan amount disbursed in 2 days. They gave all the paperworks on time after the closure of loan amount. The documentation was very strict. The interest rate and processing fees are very low when compared to other banks. Since I hold a salary account with them, it was very easy for me to take the personal loan.
      Was this review helpful? 2
      , bangalore
      Reviewed on Aug 20, 2015
    • Personal Loan
      "I want to take a load. something 2 lakh."
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I want to take a load. something 2 lakh. i am starting a bussiness. i am a professional graphic designer. so i am start a porsonal designing work. but i not a money for start this bussiness. i want to help for bussiness starting as money loan. Thanks a lot.
      Was this review helpful? 3
      , ajmer
      Reviewed on Aug 20, 2015
    • Personal Loan
      "Fast processing"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with SBI. Processing was very fast as it was taken through my company. This loan was taken at the Trichy Branch I had visited the Branch in person to get my work done as they were unable to process loan at Chennai. I got the loan within 4 days of time. This loan was taken and it was closed as well.
      Was this review helpful? 2
      , chennai
      Reviewed on Aug 20, 2015
    • Personal Loan
      "Can be better"
      STATE BANK OF INDIA
      0.5 2.0/5 "Expected more"
      I have approached SBI bank for the personal loan as I am holding a savings account with them. However the bank was unable to offer the loan as it was not matching the salary criteria. So I had not taken the loan with them and the application was can celled. They are some branches which provides good customer service where as other branch does not,.
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 18, 2015
    • Personal Loan
      "Very simple"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      SBI Personal loan process was fine. It was very simple they were basically very transparent. The most interesting part is the interest rate which was 10.6% which is the least in the market. Processing fee was okay. They managed to offer the loan within 3 days and I have got all the paper works for that.
      Was this review helpful? 3
      , salem
      Reviewed on Aug 14, 2015
    • Personal Loan
      "Slow and steady wineâ??s the race!!!"
      STATE BANK OF INDIA
      0.5 4.5/5 "Excellent!"
      From Sbi I availed a personal loan. Since I have an account with Sbi, the process was quit fast and easy paper works was done. It was very easy to get loan. Within a weeks time I got my loan amount. In Sbi the staff are elder people so I would like to suggest that they have to recruit the younger people . It was good for people have account with Sbi.
      Was this review helpful? 1
      , new delhi
      Reviewed on Aug 11, 2015
    • Personal Loan
      "Delay in processing!!"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      It took only 10 days for my personal loan to get disbursed from the SBI bank. The bank had asked me to submit for so many documents and they were also asking for verification and signature. The best part about this bank was there is part payment facilities and also the interest rate are very low. Overall the bank has got too many formalities.
      Was this review helpful? 1
      , bangalore
      Reviewed on Aug 10, 2015
    • Personal Loan
      "Excellent!!!"
      STATE BANK OF INDIA
      0.5 5.0/5 "Blown Away!"
      The Emi of my personal loan is still running with Sbi. I have taken 5 lakh. They offered me a very transparent interest rate around 14.2% and processing fee is nil for those who working in defense. The Emi is automatically deducted from my salary account. Within 5 days my personal loan got disbursed. Since I directly dealt with the bank manager the process was fast. Sbi is very good as per my experience.
      Was this review helpful? 4
      , pune
      Reviewed on Aug 08, 2015
    • Personal Loan
      "Painless Loan..."
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I have credit card loan from state bank of India. They did not need any documents, just had a verification call and processed. The interest rate is 0.75%, which is deducted from my credit card. They have to respond to the customers on time. But have to wait for a long time to get connected to the executive if call customer care.
      Was this review helpful? 2
      , chennai
      Reviewed on Aug 07, 2015
    • Personal Loan
      "Very good"
      STATE BANK OF INDIA
      0.5 2.0/5 "Expected more"
      Sbi bank can provide loan within 2 days after submitting all the documents but they take 1 month....the process in very slow with them. Interest rate offered was 14.2% which is the best part and they never charge processing fee. But to a loan with them we must have an account with them which is mandatory and the person who is coming for the guarantee signature should also have account with them,which is not recommendable.They have to improve in the customer service.
      Was this review helpful? 2
      , vijayawada
      Reviewed on Aug 07, 2015
    • Personal Loan
      "Can be improved!"
      STATE BANK OF INDIA
      0.5 3.0/5 "Satisfactory"
      I applied for a personal loan with State Bank of India. When compared to other banks, the rate of interest is normal with them. The documentation is very slow with them and getting a lot of documents. It would be great if they didnâ??t deduct the processing fees since I am holding a savings account with the customers, 1400 for 1.4lakhs..
      Was this review helpful? 2
      , burdwan
      Reviewed on Aug 06, 2015
    • Personal Loan
      "Smooth but documentation was too long.."
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      Personal loan process was smooth with SBI but documentation was not that good as they dragged almost of 20 days. Though there was a delay the loan was disbursed so I am happy. Interest rate at that time was so high but that is affordable for me now its really come down.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 06, 2015
    • Personal Loan
      "It is ok...."
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      I wonâ??t recommend SBI for their customer service as that is not much great but personal loan experience would be good. Suppose the documents are clear, it would be very easy to take the loan. They have less rate of interest for loan and good plans for customers.
      Was this review helpful? 1
      , thiruvananthapuram
      Reviewed on Aug 05, 2015
    • Personal Loan
      "Redirecting the issue "
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      It was a hassle free loan process with SBI while I got the personal loan.The interest rate offered was really less while compared to other banks.They took around 4-5ays to process the loan application.The customer service provided was not that good because they always redirect the customer issue from one place to another.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 04, 2015
    • Personal Loan
      "Its fine"
      STATE BANK OF INDIA
      0.5 4.0/5 "Great!"
      My opinion about SBI Personal loan is fine. It is very much helpful, the processing time was very short. Interest rate offered by them was okay . I am yet to get a closure letter however I had closed the loan and I am planning to take the loan with the same bank and no issues with them.
      Was this review helpful? 1
      , chennai
      Reviewed on Aug 01, 2015
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