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  • State Bank of India (SBI) Loan against Debentures is Rated as "Excellent!" by 546 Users

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    State Bank of India (SBI) 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.

    State Bank of India (SBI) Loan against Debentures Reviews

    • SBI Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I am running a personal loan with State Bank of India. The rate of interest was 12% which was nominal. I am satisfied with the customer service and response. The loan duration is 5 years and completed one year till now. There is no option for pre closure and part payment.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Nov 16, 2018
    • SBI Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      My home loan was taken with STATE BANK OF INDIA , they had been having the best interest rate, the charges which they had been making has been very nominal . The loan duration is 15 years. The branch response is absolutely fine. Overall service is good have good experience with SBI .
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 15, 2018
    • SBI Personal Loan
      "Very Good at interest and charges"
      0.5 5.0/5 "Blown Away!"
      I'm very much satisfied with SBI. Even though its a Government bank, i got a better services than private banks. I'm happy with the interest rate, processing fee. They are offering very best interest rate compared to other banks. The processing fee is nominal which 1%. I got a interest rate 9.5% for a personal loan. They are having various types of personal loan.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 15, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my personal loan with state bank of India from past 1 year, the loan amount they have given me was up to 50,000 it is sufficient for me and the rate of interest they have charged me was nominal, and processing fee they have charged was also nominal , overall service was good.
      Was this review helpful? 0
      , dariba
      Reviewed on Nov 14, 2018
    • SBI Personal Loan
      "Good in Need"
      0.5 5.0/5 "Blown Away!"
      I had applied for a Personal loan with Sbi and it processed on time. The interest rate given to me was very reasonable. It was 10.5 % at that time.Now i have closed that particular loan and i am in a plan of going for one more personal loan. You get reasonable rate of interest here.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • SBI Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      It has not been a great experience i had with this loan, the loan amount which they had provided has been okay. The interest rate with them has been around 14% which has been okay and there has not been any sort of charges which they had made. Their customer support has been helpful at times.
      Was this review helpful? 0
      , erode
      Reviewed on Nov 14, 2018
    • SBI Personal Loan
      "Loan process should be improvement"
      0.5 2.0/5 "Expected more"
      I have personal loan with SBI, they have taken three months to approve my loan and the documentation process was inconvenient. Though I have my salary with them, they taken long time to disburse the amount. I am not happy with interms of process but interest rate is good.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 12, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a good experience i had in getting this loan and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been nominal and was around 11% and there has not been any sort of extra charges whcih has been made by them so far.
      Was this review helpful? 2
      , new delhi
      Reviewed on Nov 09, 2018
    • SBI Personal Loan
      "Happy Service Provider"
      0.5 5.0/5 "Blown Away!"
      SBI is good they processed my personal loan very faster, they gave me better interest rate than other banks in the market. I took personal loan for the total term of five years. But if in case I want to close my loan, they gave me part and pre closure option.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 01, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had with this loan where the loan amount which they had provided had been satisfactory and the interest rate has been nominal when compared with the market rate where it has been offering the lowest interest rate in the market. There has not been any processing fee or any additional charges which have been made by them.
      Was this review helpful? 6
      , ahmedabad
      Reviewed on Oct 23, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan has been good and the loan amount which they had given has been satisfactory as well. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of hidden charges which they had made. The processing fee has been nominal.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Oct 19, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting this loan has been good and the loan amount which they had provided also had been good. There has not been any sort of additional charges made by them and the processing fee has been good. There has not been any interest rate has also been good as well when compared with the market rate.
      Was this review helpful? 3
      , chandigarh
      Reviewed on Oct 19, 2018
    • SBI Personal Loan
      "GOOD"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken from the STATE BANK OF INDIA and it got approved very quick also the process of getting the loan is is easy and good. I have got the sufficient amount of personal loan. The service is good and responsive also added on that it is good to use.
      Was this review helpful? 13
      , chennai
      Reviewed on Oct 15, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It was a good experience i had in getting this personal loan from them where the process has not been bad. I was happy with the loan amount which they had provided and the interest of 11% with them has been nominal when compared with the market rate. Even the manager from the branch had been very much helpful and has been responsive during the process.
      Was this review helpful? 5
      , new delhi
      Reviewed on Oct 11, 2018
    • SBI Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with STATE BANK OF INDIA , they charge 11.75% interest rate and it is nominal compare to others . The tenure period is 5year and loan amount what they provide was satisfactory . Customer support and their follow up is good with this bank .
      Was this review helpful? 8
      , coimbatore
      Reviewed on Oct 09, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 4.5/5 "Excellent!"
      It has been a very good experience i had with this loan and the loan amount which they had provided had been satisfactory as well. The interest rate with the has been 13% which has been nominal when compared with the market rate. There has not been any sort of additional charges which they had been made so far. Their customer support also had been helpful at times.
      Was this review helpful? 8
      , new delhi
      Reviewed on Oct 02, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with SBI and my loan experience was good, the loan amount was for Rs 2 lacs with nominal interest rate when compared to other banks. Customer service was good and they responded on time. There are no charges on preclosure for this loan.
      Was this review helpful? 11
      , kolkata
      Reviewed on Oct 01, 2018
    • SBI Personal Loan
      "Hassle free"
      0.5 4.0/5 "Great!"
      I have taken a personal loan couple of years back and the loan is closed too. It is from State Bank of India. The customer services and response is good and the process is fine. The rate of interest and processing fees are also normal. In all no issues.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Sep 27, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with SBI and my loan experience was very good. The process was smooth and i received my loan amount on time. Customer service is good and they responded on time. The tenure period for this personal loan is 5 years.
      Was this review helpful? 10
      , secunderabad
      Reviewed on Sep 19, 2018
    • SBI Personal Loan
      "SBI PROVIDED EASY PERSONAL LOAN TO SALARIED IN SHORT PERIOD"
      0.5 4.5/5 "Excellent!"
      Taking personal loan form SBI is very good for taking in a short period and have good communication with Bank staff and cooperative.Interest rate is also valid and i have taken more than 04 times personal loans from state bank of India.thanks.
      Was this review helpful? 6
      , champawat
      Reviewed on Sep 18, 2018
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