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  • SBI SME Loans is Rated as "Excellent!" by 543 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 4.0/5 "Great!"
      I have been using my personal loan with state bank of India from past 1 year, the loan amount they have given me was up to 50,000 it is sufficient for me and the rate of interest they have charged me was nominal, and processing fee they have charged was also nominal , overall service was good.
      Was this review helpful? 0
      , dariba
      Reviewed on Nov 14, 2018
    • SBI Personal Loan
      "Good in Need"
      0.5 5.0/5 "Blown Away!"
      I had applied for a Personal loan with Sbi and it processed on time. The interest rate given to me was very reasonable. It was 10.5 % at that time.Now i have closed that particular loan and i am in a plan of going for one more personal loan. You get reasonable rate of interest here.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 14, 2018
    • SBI Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      It has not been a great experience i had with this loan, the loan amount which they had provided has been okay. The interest rate with them has been around 14% which has been okay and there has not been any sort of charges which they had made. Their customer support has been helpful at times.
      Was this review helpful? 0
      , erode
      Reviewed on Nov 14, 2018
    • SBI Personal Loan
      "Loan process should be improvement"
      0.5 2.0/5 "Expected more"
      I have personal loan with SBI, they have taken three months to approve my loan and the documentation process was inconvenient. Though I have my salary with them, they taken long time to disburse the amount. I am not happy with interms of process but interest rate is good.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 12, 2018
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      It has been a good experience i had in getting this loan and the loan amount which they had provided has been satisfactory as well. The interest rate with them has been nominal and was around 11% and there has not been any sort of extra charges whcih has been made by them so far.
      Was this review helpful? 1
      , new delhi
      Reviewed on Nov 09, 2018
    • SBI Personal Loan
      "Happy Service Provider"
      0.5 5.0/5 "Blown Away!"
      SBI is good they processed my personal loan very faster, they gave me better interest rate than other banks in the market. I took personal loan for the total term of five years. But if in case I want to close my loan, they gave me part and pre closure option.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 01, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a good experience i had with this loan where the loan amount which they had provided had been satisfactory and the interest rate has been nominal when compared with the market rate where it has been offering the lowest interest rate in the market. There has not been any processing fee or any additional charges which have been made by them.
      Was this review helpful? 6
      , ahmedabad
      Reviewed on Oct 23, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The experience i had with this loan has been good and the loan amount which they had given has been satisfactory as well. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of hidden charges which they had made. The processing fee has been nominal.
      Was this review helpful? 6
      , hyderabad
      Reviewed on Oct 19, 2018
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The process in getting this loan has been good and the loan amount which they had provided also had been good. There has not been any sort of additional charges made by them and the processing fee has been good. There has not been any interest rate has also been good as well when compared with the market rate.
      Was this review helpful? 3
      , chandigarh
      Reviewed on Oct 19, 2018
    • 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? 13
      , 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? 8
      , 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? 11
      , 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? 10
      , 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? 6
      , 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? 6
      , 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
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