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  • State Bank of India (SBI) Loan against Debentures Reviews

    • SBI Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am a customer of State Bank of India, so they have approved my personal loan within 3days of time. The required loan amount has been disbursed by State Bank. The rate of interest is nominal with SBI . I am happy with the SBI personal loan services.
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      , imphal
      Reviewed on Sep 20, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The experience was good with SBI while taking my personal loan as they disbursed the loan within 1 week after submitting the documents. Interest rate offered was 11.9% . I visited the bank directly and completed the process . And it is for 5 years tenured i have taken this 2 years before.
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      , madurai
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Best bank for rates"
      0.5 5.0/5 "Blown Away!"
      SBI is the best bank for the rates. However customer service is not good when it comes to SBI. The bank has offered an amount of 2.5 lakhs also the processing fee charged by them was very good. Even foreclosure and part payment options were good at SBI. Its an ongoing loan also foreclosure charges were very minimal it was amounting to rs 1200 to rs 1300.
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      , new delhi
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Good account to use"
      0.5 4.0/5 "Great!"
      I am using the salaried account with State bank of India for more than 3years. The customer service is good with SBI. I don't use SBI net banking or their mobile application. The rate of interest and the processing fee is very low in SBI loan concerns.
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      , guntur
      Reviewed on Sep 18, 2017
    • SBI Personal Loan
      "Very high rate"
      0.5 4.0/5 "Great!"
      SBI rate of interest is relatively high when it comes to personal loan. Rate of interest charged was 14.25% on the other side processing fee charged by them was nil also there was no hidden cost. To top it off, SBI is transparent almost we can find everything in paper nothing hidden. I would like to rate them 4.5 , my only suggestion for them would be they should provide a good interest for the personal loan.
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      , pathankot
      Reviewed on Sep 15, 2017
    • SBI Personal Loan
      "Very good service"
      0.5 4.5/5 "Excellent!"
      In 4 days of time the state bank of India has disbursed my personal loan. The customer service was good with State bank. The Sbi executives came to my place to collect the documents on assigned date and time. The rate of interest was 12% which was very good with SBI.
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      , ghaziabad
      Reviewed on Sep 13, 2017
    • SBI Personal Loan
      "Good offer in the market"
      0.5 5.0/5 "Blown Away!"
      SBI offered me top up loan when I was applied for home loan, I have submitted separate documents for home loan and personal loan. Finally SBI done the personal loan balance transfer from Bajaj Finserv, SBI gave me 8.7% of interest it is lowest.
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      , pune
      Reviewed on Sep 13, 2017
    • SBI Personal Loan
      "Quick Process"
      0.5 5.0/5 "Blown Away!"
      I have the personal loan with State bank of India and I had taken this loan about eighteen months ago. At that time the interest rate was around 14.5% per annual. SBI processed the loan within just five hours. As I have my salary account with SBI, also my organization is tied up with for more than thirty years, I got such a fast service from them.
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      , dindigul
      Reviewed on Sep 06, 2017
    • SBI Personal Loan
      "Excellent Customer Service"
      0.5 3.0/5 "Satisfactory"
      About a year ago, I approached State bank of India and got the personal loan. Since it had been a year, I could not remember the interest rate but of course the customer service was excellent. But SBI took enough number of days to process the loan. They had not disbursed the amount on time.
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      , mancherial
      Reviewed on Sep 05, 2017
    • SBI Personal Loan
      "Customer satisfactory"
      0.5 5.0/5 "Blown Away!"
      I approached SBI personal loan through online channel, then SBI gave me hassle free service. They have processed my loan within seven days of time. I took the personal loan of 2.5 lakhs, still my loan is live. SBI gave me the interest rate of 11.4% for the tenure of five years. I am glad about SBI service is good.
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      , jaipur
      Reviewed on Sep 01, 2017
    • SBI Personal Loan
      "Customer Friendly"
      0.5 5.0/5 "Blown Away!"
      My SBI branch located in my office, hence they only have limited customer. Therefore they are taking care of customers in a good way and also response is great. SBI disbursed the amount within 3 to 4 days from their end but rate of interest was higher side at that time.
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      , delhi
      Reviewed on Sep 01, 2017
    • SBI Personal Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from State bank of India and the process was good in getting the loan through. The interest rate was higher that the private banks, it was around 15% and the processing charges was average. The after loan services is good.
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      , hyderabad
      Reviewed on Aug 31, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      About few years ago I had taken the personal loan from State bank of India. That was my first and last loan at SBI because after that the bank stopped giving the loans to the particular employers. The personal loan process went good and no challenges.
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      , mysore
      Reviewed on Aug 30, 2017
    • SBI Personal Loan
      "Moderate Service"
      0.5 4.0/5 "Great!"
      When it comes to loan services, I am not at all happy with State bank of India. Because they are not considering their long time customers when they are approving the loan. They could have reviewed my payment history and everything but they had rejected my personal loan application, even though I am a customer of SBI for twenty years.
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      , bangalore
      Reviewed on Aug 30, 2017
    • 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.
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      , 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.
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      , 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.
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      , 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.
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      , 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.
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      , 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
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    State Bank of India (SBI) Loan against Debentures is Rated as "Excellent!" by 394 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    State Bank of India (SBI) Loan against Debentures

    State Bank of India Loan against Debentures

    State Bank of India provides a specialised loan that aims to cash in on the value of debentures owned by any apologies. This loan from State Bank of India allows individuals and non-individuals to utilise the power of their investments without having to lock out of or liquidate them. These loans can help out in business or personal financial needs.

    Usage of State Bank of India (SBI) Loan against Debentures

    This loan is provided to individuals or non-individuals for any purpose that is not explicitly speculative, for inter-corporate investments or for acquiring controlling interest in any company or set of companies. Banking on the power of the debentures owned by the applicant, this loan is a powerful aid in financial terms.

    Eligibility Criteria for State Bank of India Loan against Debentures

    An unsecured loan as this has a few eligibility criteria to be met in order for the bank to be able to sanction the loan. The eligibility requirements can be mentioned as follows –

    1. Applicants can be individuals, professionals, sole proprietorships, partnership firms and private limited companies (including closely-held public limited companies) and customers of State Bank of India

    2. Applicants should be at least 18 years of age when the loan is sanctioned

    3. Margin amount of 50% of the prevailing market prices of the non-convertible debentures are to be provided

    Types of Financing under State Bank of India Loan against Debentures

    Loan against Debentures from State Bank of India (SBI) is a specific demand loan with optional overdraft facility.

    Loan limits under State Bank of India Loan against Debentures

    Based on the credit-worthiness of the applicant, validity of documents and the debentures offered a security, State Bank of India can provide loans based on its discretion. The maximum limit of loans to be offered is INR 20 lakhs.

    The scheme is offered currently at 50 centres of the bank.

    Interest rates for State Bank of India Loan against Debentures

    Interest rates for a Loan against Debentures could depend on the base lending rate and is based on the discretion of State Bank of India. As of November 2015, the applicable rate of interest is Base Rate + 6.5% per annum. Further changes to the rates could be done by State Bank of India as and when required.

    Interest is charged only on the amount that is actually utilised as a loan in case of overdraft facility, irrespective of the overdraft limit that is allowed. Overdrafts are annually renewable, while demand loans are to be repaid within 30 months.

    Documentation required during applying for SBI Loan against Debentures

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Photographs of individual applicant and/or co-applicant, directors and promoters, in case of a company & trusts, partners in case of a partnership firm or authorized person as applicable in case of societies

    2. IT Returns, audited profit and loss account statement and balance sheet for the last 2 years, six months bank statement of the primary current account and business proof

    3. Know Your Customer (KYC) documents

    4. Partnership deed, Memorandum of Association (MOA) and Articles of Association (AOA) or License issued under the Shops and Establishments Act of the respective states for business proof in case of non-individuals

    The above set of documents comprise the minimum required list. To aid in credit approval, State Bank of India might ask for extra documents if necessary.

    Features of State Bank of India Loan against Debentures

    The Loan against Debentures from State Bank of India is a good financing option for urgent financial needs on business or personal grounds.

    Some key features of this specialised loan are as follows –

    1. Loan tenure or repayment period is annual and renewable per year

    2. Minimal documentation and faster approval

    3. No security or collateral required (pledged debentures act as security)

    4. Loan amounts are variable as per the performance of the shares

    Applying for State Bank of India Loan against Debentures

    The loan can be applied for through State Bank of India’s website, as well as forms can be downloaded, filled and submitted along with relevant documents at a local branch. Additionally, one could call or mail State Bank of India requesting an executive assistance for application process.

    One can also apply for State Bank of India Loan against Debentures through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

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