Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • SBI SME Loans is Rated as "Excellent!" by 515 Users

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    SBI SME Loans

    State Bank of India (SBI) is a government-owned Indian multinational public sector banking and financial services organisation offering products and services across consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards and many others.

    Being a government-owned bank, SBI naturally offers the very low interest rates on loans of any kind because of a low base rate. State Bank of India has gone in accordance with RBI’s move of reducing the repo rate and thus gets a very low base rate. A lower base rate means lower interest rates, even for schemes meant for small scale industries and entrepreneurs.

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    Loans available under State Bank of India (SBI) SME Loans

    As of November 2015, there are a set of 9 specialised loans available for small-scale industries and/or businesses. They are as follows

    SBI Fleet Finance Scheme

    This scheme is aimed at providing financial aid to companies who would be purchasing new vehicles or upgrading old ones for use in their business. The loan is provided only to entrepreneurs who have a fleet of minimum 10 vehicles and have a requirement of a minimum of 10 vehicles. The loan amount can range from INR 50 lakhs to INR 10 crores. One needs to have a minimum of 2 years’ experience in the concerned business and should have a 35% or above score under the approved scoring model. Necessary permits for vehicle operation are also mandatory. The current rate of interest for this loan ranges from Base Rate + 0.50% per annum to Base Rate + 1.75% per annum

    Cluster Specific Package for Auto Ancillary Cluster

    This loan scheme is meant for providing financial aid towards purchase, maintenance or upgrades of automobiles owned by companies falling under the small-scale business category. The applicable interest rate ranges from Base Rate + 1.25% per annum to Base Rate + 3.00% per annum

    Cluster Specific Package for Ceramic Cluster

    This loan scheme is meant for providing financial aid towards purchase, maintenance or upgrades of portions of assets that fall under the ceramic classification owned by companies falling under the small-scale business category. The applicable interest rate ranges from Base Rate + 1.25% per annum to Base Rate + 3.00% per annum

    Construction Equipment Loan

    As per the name of this loan, this financing option allows funding help for construction of facilities by the purchase or rent of equipment that helps in the building process. The applicable rate of interest for this loan ranges from Base Rate + 1.00% per annum to Base Rate + 2.00% per annum

    Nabakalebar Special SME Scheme

    This is a specialised loan for SMEs that is available only in a few regions in the state of Orissa and can be used for a variety of purposes that can come up for small businesses. This loan has a set interest rate of Base Rate + 3.00% per annum

    Asset Backed Loan

    This is a secured loan utilising a predefined asset belonging to the business or the entrepreneur as a security. The loan can be used for any purpose aiding in the growth of the business. The interest rate is fixed at Base Rate + 1.75% per annum

    Asset Backed Loan for Commercial Real Estate

    A variation of the Asset Backed Loan, this loan has higher limits in the loan amount as well as higher interest rate at Base Rate + 2.50% per annum

    Boutique Finance Scheme

    Applicable only for the state for West Bengal, this loan scheme from SBI allows individuals interested in entrepreneurship in the aesthetic sector to avail financing for setting up their own shop catering to clothing and accessories. The interest rate of this loan ranges from Base Rate + 2.25% per annum to Base Rate + 3.65% per annum

    Medical Equipment Finance

    Useful for doctors who are about to set up their own private practice or individuals wishing to set up nursing homes or diagnostic centres in remote locations. The interest rate ranges from Base Rate + 1.25% per annum to Base Rate + 2.50% per annum

    The above schemes from State Bank of India are applicable across India excepting the ones which are explicitly meant for specific states. The base rate of State Bank of India as of November 2015 is 9.30% per annum. Based on the changes to the base rate, the individual rates of dependent loans might vary. SBI might also make changes to the interest rates of the loans as per its discretion.

    SBI SME Loans Reviews

    • 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? 2
      , new delhi
      Reviewed on Jul 17, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have taken personal loan from the State bank of India which took around 1 week for approval and documentation . Am satisfied with the rate of interest 10.4% which they have provided . They charged Rs 8000 for processing fees with the tenure period of 5 years .Their customer service and service is not up to the mark as i have to do follow up regarding loan.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jul 17, 2018
    • SBI Personal Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      My personal loan was taken with SBI 2 years back.The loan amount was 2 lakhs and the interest rate as very high . The EMI period was 5 years .The process was very slow and they have delayed processing it .The documentation was smooth .hey did not sanction the loan within the committed time. Their processing fee was average in the market.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Jul 14, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      I had chosen to go with them since i was holding my salary account from the same bank. The process in getting the loan had been very easy and smooth. The loan amount which they had given had been okay and the interest rate with them had been nominal. There has not been any processing fee which they have charged. Their customer support and the staff responses had been helpful as well.
      Was this review helpful? 5
      , kochi
      Reviewed on Jul 13, 2018
    • SBI Personal Loan
      "Very good"
      0.5 4.0/5 "Great!"
      My personal loan was taken with SBI 7 years back. The loan amount was 1.57,000 and the interest rate was bit higher than others .The tenure period was 4 years . The customer service and responses was good. They have sanctioned the loan with the committed time. The processing fee was nominal.
      Was this review helpful? 1
      , lucknow
      Reviewed on Jul 07, 2018
    • SBI Personal Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I had took this loan almost 5-6 months back and the process in getting the loan has been easy and smooth. The loan amount had been easy and smooth and the interest rate with them had been very good. There has not been any issues faced with the banking services of them.
      Was this review helpful? 0
      , chennai
      Reviewed on Jun 28, 2018
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have take personal loan from the sbi which they approved in 1 day and the amount is reflected in next day ,its instant approval process. As am satisfied with the rate of interest which is nominal one of 8.5% They provided the tenure period of 2 year and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jun 26, 2018
    • SBI Personal Loan
      "Not Satisfactory"
      0.5 2.0/5 "Expected more"
      It had not been a good experience with them and the treatment which they are making to their customers should be improved. I had also been using the banking services of them and i had been drawing my salary with the account of them. I suggest that they should be giving a better service to their customers.
      Was this review helpful? 0
      , ranipettai
      Reviewed on Jun 25, 2018
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I got the personal loan from the STATE BANK OF INDIA around 2years ago. The required loan amount has been given and I am satisfied with the loan amount. The rate of interest and the charges are average with the State bank personal loan process.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 20, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      The process in getting the loan amount has been a hassle where it has taken almost two months in getting the loan. Even the loan amount has not been satisfactory and the interest rate with them has been high compared with the market rate. It would have been good if they had made the process more easy and smooth.
      Was this review helpful? 1
      , chennai
      Reviewed on Jun 14, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from SBI and my experience was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. There are no charges on preclosure of loan. Customer service was good and the tenure period for this loan is 5 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 11, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have take personal loan from the sbi which they approved in 1 day and the amount is reflected in next day ,its instant approve process. As am not satisfied with the rate of interest which is quiet high. They provided the tenure period of 4 year and i make the payment monthly though ECS. There are no processing fees also.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 08, 2018
    • SBI Personal Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI and my loan experience was good, the loan amount was based on my requirement and the rate of interest was nominal when compared to other banks. Customer service was good and they followed up on time. The tenure period for this loan is 4 years.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 06, 2018
    • SBI Personal Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      It has been a good loan experience with them and the process had been very easy and smooth. I have taken this loan almost five years back. The rate of interest was not too high with them. The loan amount which they had provided had been satisfactory. The whole process took almost an hour in getting this loan.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jun 06, 2018
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My personal loan experience was good with SBI, the loan amount was for Rs 6 lakhs with nominal interest rate when compared to other banks. The process was quick and i received my loan amount on time. Customer service was good and the tenure period for this loan is 5 years.
      Was this review helpful? 1
      , chennai
      Reviewed on May 24, 2018
    • SBI Personal Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State Bank of India and they were very transparent in the process. All the details were clearly explained and there were no hidden charges. The customer services and response is good and the process is also quick.
      Was this review helpful? 0
      , darbhanga
      Reviewed on May 22, 2018
    • SBI Personal Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      Within a week time I have got the loan amount with the State bank of India. I have got the personal loan from SBI around a year ago. The customer support service and the response is good from the State bank of India. The required loan amount has been given and I am satisfied with it.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 22, 2018
    • SBI Personal Loan
      "Average service"
      0.5 4.0/5 "Great!"
      I have got better service from the STATE BANK OF INDIA in concern to my personal loan application. The customer support service and the response is average with the SBI. The rate of inters an the charges are low but the service need to be improved with the STATE BANK OF INDIA.
      Was this review helpful? 0
      , hassan
      Reviewed on May 11, 2018
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The state bank of India has approved my personal loan within a day time. The customer support service and the response is quite good from the State bank and I am satisfied with the loan amount, they have disbursed the loan amount with in a day time.
      Was this review helpful? 0
      , pune
      Reviewed on May 10, 2018
    • SBI Personal Loan
      "AVERAGE SERVICE"
      0.5 3.0/5 "Satisfactory"
      Got my personal loan form Sbi bank , they took long time for documentation and approval process . Rate of interest is also high compared to other banks, their customer service and response is good.Made payments through ECS .the tenure period is 4 years
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 09, 2018
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