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  • SBI Personal Loan for Pensioners is Rated as "Excellent!" by 534 Users

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    Promised Interest Rate

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    SBI Personal Loan for Pensioners

    Retired individuals might face financial requirements which compel them to avail a loan. To meet this purpose, SBI provides loans to pensioners. Central or State Government or Defence pensioners who are below 76 years old can avail this loan. They need to draw their pension from one of the SBI branches. The loan needs to be availed from one of any SBI branch. The loan can be used to meet your personal financial needs.

    Perfect Personal Loan Deals for you

    Features and Benefits of SBI Pensioner Loans

    • The processing fee is nominal. Defence pensioners need not pay any processing fee.
    • Fast loan processing.
    • The loan is devoid of interest costs.
    • If you add credit into your loan account which will reduce the loan burden and interest.
    • For central government employees the minimum loan amount is Rs.25,000. The maximum is pension of 18 months with a different upper cap for different ages.
    • For defence employees the minimum loan amount is Rs.25,000. The maximum is 36 months’ Pension with a ceiling of RS 14.00 lac for Pensioners below 56 years. It is also pension of 18 months with a different upper cap for different ages.
    • The repayment period has been listed on the basis of age, in the table below –

    For Family Pensioners (including Defence Pensioners):

    Age at the time of Loan sanction Repayment Period Age at the time of full Repayment
    Up to 72 years of Age 60 months 77 years
    More than 72 years and up to 74 years 48 months 78 years
    More than 74 years and up to 76 years 24 months 78 years
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    For Central and State Government Pensioners:

    Age at the time of Loan sanction Repayment Period Age at the time of full Repayment
    Up to 72 years of Age 60 months 77 years
    More than 72 years and up to 74 years 48 months 78 years
    More than 74 years and up to 76 years 24 months 78 years

    For Defence Pensioners:

    Age at the time of Loan sanction Repayment Period Age at the time of full Repayment
    Up to 56 years 84 months 63 years
    More than 56 years and up to 72 years 60 months 77 years
    More than 72 years and up to 74 years 48 months 78 years
    More than 74 years and up to 76 years 24 months 78 years

    Eligibility Criteria for SBI Loan for Pensioners

    For Central and State Government Pensioners:

    • The maximum age should be 76 years

    For Defence Pensioners the individual should have been an employee of-

    • Armed forces, CRPF, CISF, BSF, ITBP, etc. , Rasht Riya Rifles, Assam Rifles, and Coast guards
    • He cannot be over 76 years of age

    Family pensioner

    • Spouse of the primary pensioner can receive the pension after his death.
    • His/her age cannot be over 76

    SBI Loan for Pensioners Interest rates

    • SBI Loan for Pensioners Interest rate is 3.80% above 2 year MCLR. This is currently 13.05% per annum.

    Other fees and charges

    • For Central and State Government Pensioners and Family Pensioners the processing fee is 0.50% of the loan amount. This is subject to addition of GST (subject to a minimum of 500 and additional applicable GST.
    • There is no processing fee for Defence Pensioners
    • If you prepay the loan before the end of the loan tenure, you have to pay 3% as prepayment fees.

    SBI Personal Loan for Pensioners Reviews

    • 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? 8
      , 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? 7
      , 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? 9
      , 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? 9
      , 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? 5
      , champawat
      Reviewed on Sep 18, 2018
    • SBI Personal Loan
      "good service"
      0.5 4.0/5 "Great!"
      I have taken housing loan through SBI , the customer service sis good and i did not face any issue at the time of documentation time . There is no hidden charges with this bank and tenure period is 30year . Loan amount is up to the mark . Processing fee is 1000 rs .
      Was this review helpful? 8
      , jaipur
      Reviewed on Sep 07, 2018
    • SBI Personal Loan
      "Good service "
      0.5 4.0/5 "Great!"
      Got my personal form State bank of India, as the rate of interest is nominal one . Making the payments through Ecs . Got approved as instant approval process. There is no processing fees for the personal loan with tenure period of 4 years . Their customer service and response is good regarding personal loan.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 05, 2018
    • SBI Personal Loan
      "Good Banking Service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 48 months and i make the payment monthly though ECS.. There is no processing fees also, i have closed this loan
      Was this review helpful? 7
      , hyderabad
      Reviewed on Sep 05, 2018
    • SBI Personal Loan
      "Not a good expereince"
      0.5 2.0/5 "Expected more"
      I have taken a personal for 3 Lacs from the SBI, the experience wasn't good, there were too many formalities and it was also time consuming. They need to ensure a timely approval and processing when it comes to personal loan.
      Was this review helpful? 6
      , mumbai
      Reviewed on Aug 29, 2018
    • SBI Personal Loan
      "good service"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with SBI and the experience with this bank is pretty good , i did not face any issue at the time of documentation even the process was very quick . Tenure period is 5year and rate of interest is 9% and it is satisfactory . Processing fee is free and i use to pay EMI 15000 per month .
      Was this review helpful? 5
      , hyderabad
      Reviewed on Aug 26, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan from Sbi bank . Am satisfied with the rate of interest which they have provided . There is no processing fees for the loan which is nominal one. I make the payments through Ecs every month . They gave the tenure period of 4 years . They did quick documentation and received the loan.
      Was this review helpful? 10
      , bangalore
      Reviewed on Aug 22, 2018
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 5 years back.The loan amount was 3 lakhs and he interest rate was quite satisfactory . The customer service and responses was good. The tenure period was 5 years . I had a smooth documentation here and but they have taken much time for the process.
      Was this review helpful? 5
      , bangalore
      Reviewed on Aug 14, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the sbi which they approved in 2-3 day and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 1-5 year and i make the payment monthly though ECS.. There are no processing fees also.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Aug 13, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with SBI for personal loan was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. The tenure period for this loan is 5 years.
      Was this review helpful? 8
      , hyderabad
      Reviewed on Jul 31, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a very good experience with them and i had taken this loan almost 4 months back and the process in getting this loan had been simple and easy. The loan amount which they had provided had been satisfactory. The interest rate with them also had been nominal of 14.4% and the customer support and the staff response had been good as well.
      Was this review helpful? 8
      , chennai
      Reviewed on Jul 26, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved in 2-3 day and the amount is reflected in next day ,its instant approve process. As am satisfied with the rate of interest which is quiet nominal one They provided the tenure period of 10-15 year and i make the payment monthly though ECS.. There are no processing fees also.
      Was this review helpful? 4
      , mumbai
      Reviewed on Jul 25, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have taken a personal loan from SBI and my loan experience was good, the loan amount was for Rs 2 lakhs with nominal interest rate when compared to other banks. Customer service was good and they followed up on time. There are no preclosure charges and the tenure period for this loan is 4 years.
      Was this review helpful? 7
      , new delhi
      Reviewed on Jul 17, 2018
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