Multiple banks. Different interest rates. Call it a "conflict of interest".
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    We found 1 SBI Festival Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.90% - 14.90% Floating
    0.5% + applicable tax One time fee
    25K - 15L
    5 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    SBI Festival Loan is Rated as "Excellent!" by 380 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN
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    Overview about SBI Festival Loan

    In India there is absolutely no shortage of festivals. As Indians we love to celebrate each festival with a lot of grandeur as it is a time when families get together and make memories. It’s important that we have the money to fund our grand celebrations. So if you have not managed to accumulate enough money in time for the festivities, SBI offers a great solution in the form of Festival Loan which will help you meet all of your festival-related expense.

    Features of SBI Festival Loan

    • No hidden costs or administrative charges.
    • Loan Amount: The amount that you can borrow as SBI Festival Loan depends on your income and repayment capacity. The minimum amount that can be borrowed with this scheme is Rs.5000/- and the maximum is four times your Net Monthly Income. This maximum amount that can be borrowed is subject to a ceiling of Rs.50,000/-.
    • SBI offers Festival Loan with competitive interest rates.
    • Minimal documentation
    • No security required if check off is available.
    • Low processing charges
    • No prepayment penalties.

    Eligibility criteria for SBI Festival Loan

    • You must be earning a net monthly income of Rs.3000/- and above. Your spouse’s income can also be considered while calculating the loan amount. However, he/she must guarantee the loan or avail the loan jointly.

      To be eligible for a SBI Festival Loan, you must fall in any of the following categories:

    • An employee of PSUs, the government, profit making private/ public limited institutions/ companies etc. with a minimum of two years’ service
    • An individual who receives a regular source of income from a verifiable channel such as interest from Government/ TDRs/ NSCs or Pension.
    • Self-employed person with a minimum three years’ experience

    Documents Required for State Bank of India (SBI) Festival Loan

    • In case of self-employed individuals and professionals, you will need to provide proof of official address. This can be shop and establishment certificate/ Telephone Bill/ Lease deed. You will also need to provide IT returns for the last two financial years.
    • In the case of salaried persons, you will have to provide latest Salary Slip and Form 16.
    • Passport Size Photograph

    Charges and Fees for SBI Festival Loan

    • Processing Fee: 1% of loan amount + applicable Service Tax
    • Prepayment Charges: You will be charged with a prepayment charge of 3% on prepaid amount if you decide to prepay EMIs in full or in part. The same applies for closure of account before the end of term. In case you decide to close the account from the proceeds of a new loan account opened under the same scheme, you will not be charged with prepayment/ foreclosure charges.
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  • SBI Festival Loan Reviews

    • SBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I only use the online services of SBI. I have never spoken with any customer service executives of sbi till now i have never got any chance to talk with them, but the online application of SBI is really good it is really fine and it is an user friendly application which makes my transactions easy also I dont have any issue with the services offered by SBI till date.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 21, 2017
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The State bank of India has offered me personal loan with the interest rate of 9%. They have disbursed the loan within 4 days of time. The customer service was very good with Sbi and they gave good response from SBI,. I got the best interest in the market,. The additional charges also very low when compared with others.
      Was this review helpful? 0
      , hubli
      Reviewed on Aug 21, 2017
    • SBI Personal Loan
      "Not Fair service"
      0.5 4.0/5 "Great!"
      SBI have sanctioned my personal loan within one week because I am holding salary account with the same bank. At the time they gave 11% of interest. They also taken 0.5% of processing fee, I paid full amount then my loan got closed, But SBI have lot of paper works for the loan process.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Aug 19, 2017
    • SBI Personal Loan
      "Can be better when it comes to process"
      0.5 5.0/5 "Blown Away!"
      SBI is doing good when it comes to personal loan however I am unhappy with their process as it is very lengthy , as I had to visit the branch for anything and everything which is very tedious. Another challange would be, they were in need of guranetor or surety from my company which I felt uncomfortable as I was new to the company.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 18, 2017
    • SBI Personal Loan
      "Looking for better service"
      0.5 1.0/5 "Really Bad"
      SBI response was not good, when I approached them for the personal loan, they didn't give proper response to me. Finally they completed the process in three days. I have submitted lot of documents for loan process after loan got approved, everything became smooth. SBI is good in interest rate and other charges are lower side.
      Was this review helpful? 0
      , machilipatnam
      Reviewed on Aug 12, 2017
    • SBI Personal Loan
      "Satisfactory services"
      0.5 5.0/5 "Blown Away!"
      My personal loan is with State Bank of India and the process to get the loan was easy. The customer services was nice and the documentation was simple. The rate of interest was of 12% with a nominal processing charge. The loan disbursed was also to my satisfaction.
      Was this review helpful? 0
      , agartala
      Reviewed on Aug 12, 2017
    • SBI Personal Loan
      "Recommendable product"
      0.5 4.0/5 "Great!"
      I am an existing of SBI, I am holding salary account with them. So I have taken personal loan in the year of 2013. I took the amount of Rs. 1lakhs, almost I paid half of the amount. SBI interest rate was also satisfactory, I am fine with their service.
      Was this review helpful? 0
      , lucknow
      Reviewed on Aug 10, 2017
    • SBI Personal Loan
      "High in charges"
      0.5 3.0/5 "Satisfactory"
      State bank of India is high in charges for the loan process. For the personal loan, the interest rate is very high and apart from the interest rate, there is some annual charges applicable. So I did not avail any kind of loans from SBI till date.
      Was this review helpful? 0
      , thane
      Reviewed on Aug 05, 2017
    • SBI Personal Loan
      "Delayed Service"
      0.5 2.0/5 "Expected more"
      I availed personal loan from State bank of India quite long time ago. They did not process the loan on time also they had taken too much of time to sanction it. Their services are very delayed and there was no proper assistance from the bank side.
      Was this review helpful? 0
      , cuddalore
      Reviewed on Aug 02, 2017
    • SBI Personal Loan
      "Fair service"
      0.5 3.0/5 "Satisfactory"
      It is easy to go with SBI for the loan for the government employees. I took personal loan from SBI and the rate of interest is 12%. But the time when I availed the loan, interest rate was around 13.3 % now it had been reduced to 12%. Also it is a floating type of interest. But I am not happy about the process because they were taking too much of time to done with the process.
      Was this review helpful? 0
      , chandigarh
      Reviewed on Aug 02, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      First thing SBI Bank is very much secured. Great thing is, SBI is best for the personal loan. I had taken personal loan from them. They disbursed my loan amount within a day after applying. The rate of interest they have offered is 11% and the processing fee they have charged was around 2000 rupees approximately.
      Was this review helpful? 0
      , jamnagar
      Reviewed on Aug 01, 2017
    • SBI Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I tried applying for a personal loan with State Bank of India. It was a average experience. They had too much of a procedure and it was lengthy too. The documentation was much as well. So I cancelled my application, also I did not take the loan finally from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 23, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State Bank of India and the process for it was smooth. I did not have much of a documentation process and also I did not get the loan on time. The rate of interest and processing charges were very much normal too. But on the other hand, after loan services were very much hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • SBI Personal Loan
      "Improvement needed in service"
      0.5 5.0/5 "Blown Away!"
      The personal loan process need to be quick and fast with SBI. The customer service and the response need to be focused a lot. They are talking too much of time to disburse the personal loan. They took around 10 to 15 days of time to disburse my loan and they call it as express in disbursing the loan. As I hold a salary account with SBI they have offered me with low interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • SBI Personal Loan
      "Be Helpful"
      0.5 3.0/5 "Satisfactory"
      Once I made an inquiry with SBI for the personal loan. Actually I am a long term customer of SBI, I hold salary account with them for 6 years. So I approached the same bank for the loan, but they asked me three questions and they said that they are unable to provide the loan. So I am not happy with SBI.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 13, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from SBI, they took only 5 days for the disbursement. Rate of interest charged was 11.5% and processing fee was niL. My salary account is with SBI so there were no issues with the documentation process and the EMI was around 11k approximately.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Had a great experience of availing a personal loan from SBI couple of years ago. Documentation part was very simple and the processing of the loan was completed in just 4 days. Rate of interest was 11% & processing fees were NIL the loan amount I had taken is 2.50 lakhs at that time I had taken and this was for a tenure of 5 years.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Very poor"
      0.5 1.0/5 "Really Bad"
      I had taken a personal loan from SBI and they were very slow in the process. I did not have a problem with the bank but they have taken 15 to 20 days to disburse my loan amount the rate of interest they have offered me is 14% they have charged any processing fee also and the EMI I payed around 9000 rupees and I have pre closed this loan
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Personal loan process was really smooth. I got a loan of 5.7 lakhs and I am happy that State bank of India is supportive when ever I approach them. The interest rate offered was 12.40% and the processing fees was nil . The after loan services are hassle free I have taken this loan for five years and the loan got disbursed with in a span of 4 days of time.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have a earlier experience for a personal loan with State Bank of India. The customer services are good and the process was smooth. The rate of interest and processing charges was normal. I had no hassles with the after loan services too. Overall good.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 11, 2017
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