Multiple banks. Different interest rates. Call it a "conflict of interest".
  • SBI Loan against Units of SBI Debt Fund Series is Rated as "Excellent!" by 585 Users

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    SBI Loan against Units of SBI Debt Fund Series

    This loan product is a scheme which will provide short term finance to those who require it against their Debt Fund schemes of Fixed Maturities (FMPS).

    Where is the purpose of SBI Loans against units of SBI Debt Fund Series?

    Loan amount can be used for necessities and personal needs of an individual. The loan amount cannot be used to boost sales of another mutual fund. And cannot be used to purchase share and debentures or any other purposes which are speculative in nature.

    What is the eligibility criteria for State Bank of India Loans against units of SBI Debt Fund Series?

    Eligibility criteria for SBI Loans against units of SBI Debt Fund Series:

    • Individuals applying for the loan has to be over 21 years with a steady source of income who are working employees, professionals, self-employed and others who file income tax returns.
    • Engaged in agricultural and allied activities
    • Pensioners of central and state governments, defence establishments, POSUs/ Public Sector Banks.
    • Maximum of 65 years of age
    • The minimum of a net monthly income of a salaried individual should be Rs. 5,000 or in case of a self-employed a net annual income should be Rs. 50, 000.

    Even a Non Resident Indians holding a valid Indian passport with a steady source of income can apply for this loan.

    What are the types of financing available?

    This will be a short term or medium term loan, the margin on the loans will be

    • Short Duration Loan: Loans up to 1 year – 30%
    • Long Duration Loan: Loans above 1 year – 50%

    What is the maximum amount of loan I can avail?

    The loan amount will be at a minimum of Rs. 10, 000 to maximum of Rs. 20 lakhs.

    Subject to:

    • Employees or Pensioners will receive 10 time their net annual income
    • Self Employed will receive 1 year’s net annual income

    What is the rate of interest on State Bank of India (SBI) Loans against units of SBI Debt Fund Series?

    The base rate 9.3%

    The scheme details Interest Rate
    Equity Plus Scheme 15.80% per annum (BR = 9.3% + 6.50%)
    Loans against Shares 12.30% per annum (BR = 9.3% + 3.00%)
    Loans against Debentures 15.80% per annum (BR = 9.3% + 6.50%)
    Loan to employees to subscribe for ESOPs 15.80% per annum (BR = 9.3% + 6.50%)

    What are the documents required for State Bank of India Loans against units of SBI Debt Fund Series?

    Documents required by the bank will be:

    • Completed loan application
    • 3 Passport size photographs
    • Proof of identify
    • Proof of residence
    • Original Salary Certificate from employer - in case of salaried individuals
    • TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Dep’t - - in case of salaried individuals

    What are the terms for State Bank of India Loans against units of SBI Debt Fund Series?

    • The short loan will be divided in 12 monthly instalments either by PDCs or a check of facility applicable or even available for you.
    • The long duration loan will be divided into 36 monthly instalments either by PDCs or a check of facility or even available for you.
    • The processing fees is 0.51% of the loan amount. The minimum of Rs.101.00

    How do I apply for this loan?

    You can apply for this loan against State Bank of India Loans against units of SBI Debt Fund Series from the nearest State Bank of India branch or apply via their website. All you need to do is login with your details and then fill in the online application form

    Can I apply for SBI Loans against units of SBI Debt Fund Series online?

    Yes, you can apply for this loan via the State Bank of India website.

    SBI Loan against Units of SBI Debt Fund Series Reviews

    • SBI Personal Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved in few days and the amount is reflected in next day ,its instant approval process. As am satisfied with the rate of interest which is nominal one .They provided good tenure period .and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 23, 2019
    • SBI Personal Loan
      "Need to reduce ROI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with SBI and my experience was good, the loan amount was sufficient and the rate of interest was high when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is 3 years.
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with State bank of India, there service is Excellent, they have given me sufficient loan amount, and the rate of interest they have charged me was nominal they have charged me up to 15%, and i am happy and even processing fee they have charged is nominal, there are no hidden charges,i will appreciated them that they do not call me much,they give me my own space. The overall service provided by them is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Process should be faster"
      0.5 4.0/5 "Great!"
      I am a salary holder of SBI, based on the transaction I got the personal loan. The rate of interest was around 12% it was higher for the existing customer. The customer response is good, on time I got the loan amount. But still its not so faster like private banks.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Charges are high"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from State Bank of India. The services and the process is good. The bank is also high on the GST and processing charges. The rate of interest is also high and they need to work on that. I received the loan in two days. Good in all.
      Was this review helpful? 2
      , pune
      Reviewed on Jan 18, 2019
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had applied for a Personal loan with SBI and i am happy with the services whatever i have experienced. The interest rates are very reasonable when compare to the market value. There was not much documentation as i carry a savings account in SBI.
      Was this review helpful? 1
      , secunderabad
      Reviewed on Jan 18, 2019
    • SBI Personal Loan
      "Good in Service"
      0.5 4.0/5 "Great!"
      I had taken a personal loan with SBI and as i hold a account in SBI it was easy to get things done in SBI. There was not much documentation and only my salary statement was required and my application was processed on time. The interest rate were 14% and i am pretty much satisfied with SBI Services.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 13, 2019
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan almost two months back and the experience was quite good. But the interest rate with them was around 16% and there has been 1% processing fee, where i feel that comparatively its pretty high. The loan amount has been sufficient and there has not been any sort of charges additionally which they had made.
      Was this review helpful? 4
      , bangalore
      Reviewed on Jan 11, 2019
    • SBI Personal Loan
      "Good in Service"
      0.5 5.0/5 "Blown Away!"
      At the time when i was looking for a personal loan i had applied in SBI bank . As i hold a salary account in SBI it was easy for me to apply for a loan. The interest rates that i had on my loan amount was reasonable and i am pretty much happy with the services.
      Was this review helpful? 4
      , kolkata
      Reviewed on Jan 11, 2019
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State Bank of India. The rate of interest is of 12.5% and the processing charges is minimum too. The whole process took four days. The after loan process is good and the documentation was also taken on time. Hassle free in all.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 09, 2019
    • SBI Personal Loan
      "Instant Approval"
      0.5 5.0/5 "Blown Away!"
      I already have personal loan with SBI , its going to close, the total amount was Rs. 2 lakhs, now I need to pay the remaining amount around Rs. 1 lakh, The customer support and response is good. The tenure period for 5 years on my personal loan, the documentation is good and simple when the documents are clear, they gave me the good follow and support.
      Was this review helpful? 3
      , kanpur
      Reviewed on Jan 05, 2019
    • SBI Personal Loan
      "Very Nice Personal loan"
      0.5 5.0/5 "Blown Away!"
      My personal loan was purchased from State bank of India. Since my salary account is with SBI hence i have selected the same bank. I bought the loan amount of Rs. 10 lakhs. They have offered me a interest rate of 10.99% and the processing fee was Rs. 4500. 2 years ago i took this loan. I pay the premium amount of Rs. 21750. I have to pay the EMI for 5 years.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Jan 03, 2019
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with SBI and my experience was good, the process was smooth and i received my loan amount on time. Customer service was good with SBI and their follow up was on time. Tenure period for this loan is for 4 years.
      Was this review helpful? 5
      , new delhi
      Reviewed on Jan 03, 2019
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan from SBI for which is also a smooth experience. The application process and documentation was smooth and hassle free. I never had any issues with the loan application. Overall it is a recommendable service. Processing fee is nominal .
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 30, 2018
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with State bank of India, there service is Excellent, they have given me sufficient loan amount, and the rate of interest they have charged me lowest and i am happy and even processing fee they have charged is low, there are no hidden charges, overall service is good.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 24, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience with this loan has been quite good and the loan amount which they had provided has been sufficient and satisfactory as well. The interest rate with them has been nominal and there has not been any sort of additional charges which they had made or there has not been any processing fee with this loan as well.
      Was this review helpful? 0
      , rajahmundry
      Reviewed on Dec 22, 2018
    • SBI Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      My experience with SBI for personal loan was average, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was not up to the mark with this bank and tenure period is 5 years.
      Was this review helpful? 5
      , bhubaneshwar
      Reviewed on Dec 20, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with State bank of India, there service is good, they have given me sufficient loan amount , and the rate of interest they have charged me was nominal, and even processing fee they have charged me was nominal,overall service is good.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Dec 19, 2018
    • SBI Personal Loan
      "Good in Services"
      0.5 5.0/5 "Blown Away!"
      I had taken a Personal loan with SBI bank and i would say they were good in services. I never had any complaint with the services. When i had submitted the application, it was processed on time. There was no delay and overall i carried a good experience. The loan has been closed.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 19, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It had been a good experience with this loan experience with this loan and the whole process went smooth and simple. Within a short period of time they had given me this loan and there has not been any problem and there has not been any sort of additional charges which they had made.
      Was this review helpful? 8
      , kolkata
      Reviewed on Dec 14, 2018
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