Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    We found 1 SBI Personal Loan for Pensioners

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.90% - 14.90% Floating
    1% + applicable tax One time fee
    25K - 15L
    5 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    SBI Personal Loan for Pensioners is Rated as "Excellent!" by 369 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    Overview about SBI Loans to 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
    Apply for Personal Loan

    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.
     Loading your search... Loading your search...
  • SBI Personal Loan for Pensioners Reviews

    • SBI Personal Loan
      "Average"
      0.5 3.0/5 "Satisfactory"
      I tried applying for a personal loan with State Bank of India. It was a average experience. They had too much of a procedure and it was lengthy too. The documentation was much as well. So I cancelled my application, also I did not take the loan finally from them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 23, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State Bank of India and the process for it was smooth. I did not have much of a documentation process and also I did not get the loan on time. The rate of interest and processing charges were very much normal too. But on the other hand, after loan services were very much hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • SBI Personal Loan
      "Improvement needed in service"
      0.5 5.0/5 "Blown Away!"
      The personal loan process need to be quick and fast with SBI. The customer service and the response need to be focused a lot. They are talking too much of time to disburse the personal loan. They took around 10 to 15 days of time to disburse my loan and they call it as express in disbursing the loan. As I hold a salary account with SBI they have offered me with low interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • SBI Personal Loan
      "Be Helpful"
      0.5 3.0/5 "Satisfactory"
      Once I made an inquiry with SBI for the personal loan. Actually I am a long term customer of SBI, I hold salary account with them for 6 years. So I approached the same bank for the loan, but they asked me three questions and they said that they are unable to provide the loan. So I am not happy with SBI.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 13, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from SBI, they took only 5 days for the disbursement. Rate of interest charged was 11.5% and processing fee was niL. My salary account is with SBI so there were no issues with the documentation process and the EMI was around 11k approximately.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Had a great experience of availing a personal loan from SBI couple of years ago. Documentation part was very simple and the processing of the loan was completed in just 4 days. Rate of interest was 11% & processing fees were NIL the loan amount I had taken is 2.50 lakhs at that time I had taken and this was for a tenure of 5 years.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Very poor"
      0.5 1.0/5 "Really Bad"
      I had taken a personal loan from SBI and they were very slow in the process. I did not have a problem with the bank but they have taken 15 to 20 days to disburse my loan amount the rate of interest they have offered me is 14% they have charged any processing fee also and the EMI I payed around 9000 rupees and I have pre closed this loan
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Personal loan process was really smooth. I got a loan of 5.7 lakhs and I am happy that State bank of India is supportive when ever I approach them. The interest rate offered was 12.40% and the processing fees was nil . The after loan services are hassle free I have taken this loan for five years and the loan got disbursed with in a span of 4 days of time.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I have a earlier experience for a personal loan with State Bank of India. The customer services are good and the process was smooth. The rate of interest and processing charges was normal. I had no hassles with the after loan services too. Overall good.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 11, 2017
    • SBI Personal Loan
      "Perfect service"
      0.5 5.0/5 "Blown Away!"
      I had a personal loan experience with State Bank of India last year. They took around 7 days to disburse my personal loan . The required loan amount has been given and I am satisfied with it. The rate of interest is low, when compared with other banks.
      Was this review helpful? 0
      , bathinda
      Reviewed on Jul 10, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The service provided by State Bank of India was really good based on the personal loan application being submitted I had taken this loan long back before eight years the rate of interest was minimum and there was processing charges as well
      Was this review helpful? 0
      , korba
      Reviewed on Jul 10, 2017
    • SBI Personal Loan
      "Satifactory service"
      0.5 3.0/5 "Satisfactory"
      Processing fee is very less with the SBI, when it comes to personal loan, also the rate of interest is 14% very less. Customer service is very good one with them, and the loan mount I applied for 4 to 5 lakhs. I am holding this account got more them 5 years of time.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 09, 2017
    • SBI Personal Loan
      "Better Response"
      0.5 3.0/5 "Satisfactory"
      Three years ago I had taken the personal loan from SBI and I had completed the loan as well. The interest rate is 15% and they done with the process in four to five days. Even they had sanctioned the loan on time. But the response and customer service is not up to the mark. If everything is fine to proceed with the loan then they respond well to the customers otherwise they would reply back.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 05, 2017
    • SBI Personal Loan
      "Not Helpful"
      0.5 1.0/5 "Really Bad"
      State bank of India is not helpful for me when I approached them for the personal loan. I had applied for the loan but I did not get proper response from the bank. They did not process my loan application. So I am not happy with SBI.
      Was this review helpful? 1
      , burdwan
      Reviewed on Jul 03, 2017
    • SBI Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      The personal loan process was smooth at State Bank of India. I did not have a problem with the paper work as it was normal. The interest rate and processing charges is reasonable and I got the funds without any kind of delay. Overall the bank is doing well in the services.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 30, 2017
    • SBI Personal Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      State bank of India offered the personal loan for the amount of four lakhs. Interest rate was 14%. SBI processed the loan properly and they sanctioned the loan on time without any challenges. I am happy with the bank for the loan I received. They provide good customer service.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Best Service"
      0.5 3.0/5 "Satisfactory"
      The savings interest is average with state bank of India Infact they have decreased it at present. I am holding this SBI savings account for past 7 years. I use net banking with Sbi, which is easy to use and they need to make more customer friendly. I would say it is a good account to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Good Bank for Loans"
      0.5 5.0/5 "Blown Away!"
      About five years back I had received personal loan from SBI in a form of preapproved loan. Interest rate was very low which is around 10% and the documentation part was very simple and I never struggled to produce the documents. And the interesting fact is, the bank credited the loan within seven days to my account.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Always the best"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan on many occasions from State Bank of India. Every time I approached the bank they were very much responsive and they have processed my application quickly and the loan got disbursement on time and as needed. The deal on the interest rate and charges were very much normal too.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I am having a very good experience with SBI while I have just placed the inquiry for personal loan.The service provided was excellent and the loan amount is not yet disbursed but apart from that The interest rate offered was around 11.90% and I felt it was a average rate offered and the loan amount I have opted for 5 lakhs rupees
      Was this review helpful? 1
      , rohtak
      Reviewed on Jun 17, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.