Multiple banks. Different interest rates. Call it a "conflict of interest".
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  • SBI SME Loans Reviews

    • SBI Personal Loan
      "Very good process"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with State Bank of India and the banking services are good. I got the loan as promised as the bank is consistent in the details. The process was also done on time and the after loan services are good. There were no hassles.
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      , hyderabad
      Reviewed on Sep 25, 2017
    • SBI Personal Loan
      "DISSATISFIED"
      0.5 2.0/5 "Expected more"
      I have an salaried account here at SBI so getting better service and the interest rate I thot it will minimum SBI Bank offered me a personal loan with 14% I would suggest them to reduce that interest part but On the promised time I received the loan amount. I had taken this loan in 2014.
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      , patiala
      Reviewed on Sep 24, 2017
    • SBI Personal Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I am a customer of State Bank of India, so they have approved my personal loan within 3days of time. The required loan amount has been disbursed by State Bank. The rate of interest is nominal with SBI . I am happy with the SBI personal loan services.
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      , imphal
      Reviewed on Sep 20, 2017
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The experience was good with SBI while taking my personal loan as they disbursed the loan within 1 week after submitting the documents. Interest rate offered was 11.9% . I visited the bank directly and completed the process . And it is for 5 years tenured i have taken this 2 years before.
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      , madurai
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Best bank for rates"
      0.5 5.0/5 "Blown Away!"
      SBI is the best bank for the rates. However customer service is not good when it comes to SBI. The bank has offered an amount of 2.5 lakhs also the processing fee charged by them was very good. Even foreclosure and part payment options were good at SBI. Its an ongoing loan also foreclosure charges were very minimal it was amounting to rs 1200 to rs 1300.
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      , new delhi
      Reviewed on Sep 19, 2017
    • SBI Personal Loan
      "Good account to use"
      0.5 4.0/5 "Great!"
      I am using the salaried account with State bank of India for more than 3years. The customer service is good with SBI. I don't use SBI net banking or their mobile application. The rate of interest and the processing fee is very low in SBI loan concerns.
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      , guntur
      Reviewed on Sep 18, 2017
    • SBI Personal Loan
      "Very high rate"
      0.5 4.0/5 "Great!"
      SBI rate of interest is relatively high when it comes to personal loan. Rate of interest charged was 14.25% on the other side processing fee charged by them was nil also there was no hidden cost. To top it off, SBI is transparent almost we can find everything in paper nothing hidden. I would like to rate them 4.5 , my only suggestion for them would be they should provide a good interest for the personal loan.
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      , pathankot
      Reviewed on Sep 15, 2017
    • SBI Personal Loan
      "Very good service"
      0.5 4.5/5 "Excellent!"
      In 4 days of time the state bank of India has disbursed my personal loan. The customer service was good with State bank. The Sbi executives came to my place to collect the documents on assigned date and time. The rate of interest was 12% which was very good with SBI.
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      , ghaziabad
      Reviewed on Sep 13, 2017
    • SBI Personal Loan
      "Good offer in the market"
      0.5 5.0/5 "Blown Away!"
      SBI offered me top up loan when I was applied for home loan, I have submitted separate documents for home loan and personal loan. Finally SBI done the personal loan balance transfer from Bajaj Finserv, SBI gave me 8.7% of interest it is lowest.
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      , pune
      Reviewed on Sep 13, 2017
    • SBI Personal Loan
      "Quick Process"
      0.5 5.0/5 "Blown Away!"
      I have the personal loan with State bank of India and I had taken this loan about eighteen months ago. At that time the interest rate was around 14.5% per annual. SBI processed the loan within just five hours. As I have my salary account with SBI, also my organization is tied up with for more than thirty years, I got such a fast service from them.
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      , dindigul
      Reviewed on Sep 06, 2017
    • SBI Personal Loan
      "Excellent Customer Service"
      0.5 3.0/5 "Satisfactory"
      About a year ago, I approached State bank of India and got the personal loan. Since it had been a year, I could not remember the interest rate but of course the customer service was excellent. But SBI took enough number of days to process the loan. They had not disbursed the amount on time.
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      , mancherial
      Reviewed on Sep 05, 2017
    • SBI Personal Loan
      "Customer satisfactory"
      0.5 5.0/5 "Blown Away!"
      I approached SBI personal loan through online channel, then SBI gave me hassle free service. They have processed my loan within seven days of time. I took the personal loan of 2.5 lakhs, still my loan is live. SBI gave me the interest rate of 11.4% for the tenure of five years. I am glad about SBI service is good.
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      , jaipur
      Reviewed on Sep 01, 2017
    • SBI Personal Loan
      "Customer Friendly"
      0.5 5.0/5 "Blown Away!"
      My SBI branch located in my office, hence they only have limited customer. Therefore they are taking care of customers in a good way and also response is great. SBI disbursed the amount within 3 to 4 days from their end but rate of interest was higher side at that time.
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      , delhi
      Reviewed on Sep 01, 2017
    • SBI Personal Loan
      "High on ROI"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from State bank of India and the process was good in getting the loan through. The interest rate was higher that the private banks, it was around 15% and the processing charges was average. The after loan services is good.
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      , hyderabad
      Reviewed on Aug 31, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      About few years ago I had taken the personal loan from State bank of India. That was my first and last loan at SBI because after that the bank stopped giving the loans to the particular employers. The personal loan process went good and no challenges.
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      , mysore
      Reviewed on Aug 30, 2017
    • SBI Personal Loan
      "Moderate Service"
      0.5 4.0/5 "Great!"
      When it comes to loan services, I am not at all happy with State bank of India. Because they are not considering their long time customers when they are approving the loan. They could have reviewed my payment history and everything but they had rejected my personal loan application, even though I am a customer of SBI for twenty years.
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      , bangalore
      Reviewed on Aug 30, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I only use the online services of SBI. I have never spoken with any customer service executives of sbi till now i have never got any chance to talk with them, but the online application of SBI is really good it is really fine and it is an user friendly application which makes my transactions easy also I dont have any issue with the services offered by SBI till date.
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      , bangalore
      Reviewed on Aug 21, 2017
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      The State bank of India has offered me personal loan with the interest rate of 9%. They have disbursed the loan within 4 days of time. The customer service was very good with Sbi and they gave good response from SBI,. I got the best interest in the market,. The additional charges also very low when compared with others.
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      , hubli
      Reviewed on Aug 21, 2017
    • SBI Personal Loan
      "Not Fair service"
      0.5 4.0/5 "Great!"
      SBI have sanctioned my personal loan within one week because I am holding salary account with the same bank. At the time they gave 11% of interest. They also taken 0.5% of processing fee, I paid full amount then my loan got closed, But SBI have lot of paper works for the loan process.
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      , coimbatore
      Reviewed on Aug 19, 2017
    • SBI Personal Loan
      "Can be better when it comes to process"
      0.5 5.0/5 "Blown Away!"
      SBI is doing good when it comes to personal loan however I am unhappy with their process as it is very lengthy , as I had to visit the branch for anything and everything which is very tedious. Another challange would be, they were in need of guranetor or surety from my company which I felt uncomfortable as I was new to the company.
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      , bangalore
      Reviewed on Aug 18, 2017
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    SBI SME Loans is Rated as "Excellent!" by 397 Users

    Fees & Charges

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    Personal Loan BYTES FROM OUR KITCHEN

    SBI SME Loans

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    Overview about 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.

    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.

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