Multiple banks. Different interest rates. Call it a "conflict of interest".
Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • SBI Loan against Units of SBI Debt Fund Series is Rated as "Excellent!" by 469 Users
    Personal Loan BYTES FROM OUR KITCHEN

    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 service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI and the loan experience was very good. The process was smooth and i received my loan amount within given time. The loan amount was for Rs 5.70 lakhs with the rate of interest of 14.5% which is fine. Customer service was good they followed up on time. The tenure of this loan is 5 years and i have already completed 3 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 22, 2018
    • SBI Personal Loan
      "Good banking"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State bank of India.The loan amount is three lakhs,rate of interest is nominal as compared to other banks.The tenure is got three years.I pay my EMI amount through net banking banking. Further SBI disbursed the loan amount on time.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 22, 2018
    • SBI Personal Loan
      "Need improvement "
      0.5 1.0/5 "Really Bad"
      State bank of India need to give proper response to the customers who has applied for any kind of product. It is not possible to reach the State bank customer support service and their toll free number. The banking service need to be improved with the SBI.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jan 16, 2018
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      The State bank of India has disbursed my personal loan within 15days of time. They have approved and disbursed the required loan amount. The rate of interest and the charges are very low with the State bank of India personal loan services. The customer support service was good with the SBI.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 15, 2018
    • SBI Personal Loan
      "Good"
      0.5 3.5/5 "Pretty good"
      I have my personal loan with SBI for about 1 year.The loan amount was 2 lakhs and The Interest rate was 9-10% which was very high . The customer service and responses was up to the mark. The loan process was good and the processing fee was high . My overall experience was good.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jan 12, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I got the personal loan from State bank of India around a year ago. I got the loan amount within a 5 days of time. The customer support is prompt with the State bank and they gave me immediate response in regards to my personal loan application. The rate of interest and the charges are nominal with SBI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 10, 2018
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken person loan with State bank of India.The loan amount is six lakhs.The rate of interest is nominal as compared to others.I have taken it for ten years.They had taken a minimum processing fees from the loan amount.They had processed the loan after submitting documents.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 09, 2018
    • SBI Personal Loan
      "Better service"
      0.5 4.0/5 "Great!"
      I have my personal loan with SBI. The loan amount was 2 lakhs and the interest rate was 10-11% bit high than other bank in the market.They have provided door step service for collecting documents. My overall experience was good so I would like to recommend to others.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 02, 2018
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State bank of India.The loan amount is six lakhs,rate of interest is very low as compared to other banks.The tenure is for two years.The payment is done through online payments.The loan was processed immediately.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 30, 2017
    • SBI Personal Loan
      "Good Experience"
      0.5 4.0/5 "Great!"
      On 2010, I have taken personal loan from SBI bank, documentation was very easy at the time. I got my disbursal amount without any hassle. They have provided part payment and preclosure option. Charges are very nominal with SBI for the personal loan.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Dec 29, 2017
    • SBI Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan based on my credit card with SBI and it was a good loan experience. The loan amount was for Rs 1.5 lakhs with the rate of interest of 0.8% which is very less when compared to other banks. The process was very quick and i received my loan amount within 24 hours. Customer service is good and they followed up correctly. I pay an EMI of close to Rs 13000 and tenure of the loan is 1 year.
      Was this review helpful? 8
      , rajkot
      Reviewed on Dec 28, 2017
    • SBI Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI and it was overall a good loan experience. The loan amount was for Rs 1 lakh with less rate of interest when compared to all other banks. The process was very smooth and i received my loan amount within 1 week. Customer service was good and they provided door step service to collect the documents. The tenure of the loan is 1.5 years and i pay and EMI for Rs 4800 for this loan.
      Was this review helpful? 9
      , bangalore
      Reviewed on Dec 26, 2017
    • SBI Personal Loan
      "Average service"
      0.5 2.0/5 "Expected more"
      The personal service is not up to the mark with the State Bank of India. The customer support is good with state bank but the response need to be improved because they dont give the response on time. The required loan amount has not been approved.
      Was this review helpful? 3
      , vijayawada
      Reviewed on Dec 26, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The banking service is average with the state bank of India. I have got the loan amount within 15days of time. I have got the personal loan around 2 years. The customer support and the response is good with the SBI. They have offered me the required loan amount based on my salary.,
      Was this review helpful? 2
      , hyderabad
      Reviewed on Dec 26, 2017
    • SBI Personal Loan
      "Process was Long"
      0.5 2.0/5 "Expected more"
      I got a Personal Loan of Rs. 5 Lakhs from them. The whole process almost took 2 weeks to get completed. Their Interest rate was pretty good. I have finished 4 years of the Loan, and until now there has not been any issue at all with them.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Dec 21, 2017
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      State bank of India has offered me a personal loan around 10 years ago. It is easy to get the loan from the state bank of India and within 4 to 5days of time I have got the loan amount from the state bank of India. The rate of interest and the charges are very average with the state bank of India.
      Was this review helpful? 4
      , ahmedabad
      Reviewed on Dec 18, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The customer support was good with the state bank of India. The banking service is good with the State bank of India, they have approved and disbursed the personal loan amount within 7 days time. The rate of interest and the charges are nominal with the state bank of India. I got the requested loan amount.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 18, 2017
    • SBI Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with State Bank of India.the loan amount is 2 lakhs,rate if inert is 2.5% high compared to other banks.Processing fees is .5% deducted from my loan amount.I do have part payment option in this bank and no preclosure charges is applicable.
      Was this review helpful? 7
      , chennai
      Reviewed on Dec 12, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken personal loan from SBI and it was a good loan experience with this bank. The loan amount was for Rs 1 lakh with the less interest rate when compared to all other banks. No much documents were required as i already have a salary account with this bank. Customer service was good and they followed up correctly.
      Was this review helpful? 5
      , ghaziabad
      Reviewed on Dec 09, 2017
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      The response was not up to the mark with State bank of India in regards to my personal loan application. The State bank of India has rejected my personal loan application saying that my salary haven't met their eligibility criteria. The response part need to be improved with Sbi.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 07, 2017
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