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    We found 1 SBI Personal Loan Eligibility Calculator
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.75% - 14.75% Floating
    1% + applicable tax One time fee
    25K - 15L
    5 Years
    Response Time : Within 30 minutes
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    Eligibility Criteria
    SBI Personal Loan Eligibility Calculator is Rated as "Excellent!" by 602 Users

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    SBI Personal Loan Eligibility

    Personal Loan Type Age Limit Job Type Maximum Loan Amount Minimum Loan Amount
    Xpress Credit Personal Loan 21-58 years of age Salaried individual in reputed corporate, self-employed
    engineer,
    doctor,
    architect,
    chartered accountant,
    MBA,
    govt. and PSU
    employee
    Rs.15 lacs Rs.24,000
    Pensioner Loan 60-76 years of age Pensioners Max. 10 months of pension; up to 14 lacs Rs.25,000
    Festival Loans 21-58 years of age Salaried individual in reputed corporate,
    self-employed
    engineer,
    doctor,
    architect,
    chartered accountant,
    MBA,
    govt. and PSU employee
    Rs.50,000 Rs.5000
    SBI Saral 21-58 years of age Salaried individual in reputed corporate,
    self-employed
    engineer,
    doctor,
    architect,
    chartered accountant,
    MBA
    Rs.10 lacs Rs.24,000 in metro cities
    Rs.10,000 everywhere else

    Personal loans from State Bank of India are great financial tools and can be obtained easily if the eligibility criteria set by the SBI bank is met. This criteria differs for different types of personal loans offered by SBI.

    State Bank of India is the largest public sector bank of India. The bank has deep roots both in the urban as well as rural parts of the country. State Bank of India is a preferred bank for both personal banking as well as corporate banking. The bank offers several flexible and unique financial products and services to both its domestic and international customers.

    Personal loans from SBI are one of the most sought-after loan schemes. These schemes are offered in a variety of forms and ensure that all your financial needs are met with ease. The rates of interest charged by the SBI bank on these loan schemes is extremely competitive and the assurance of public sector is a great differentiating factor.

    Factors Affecting State Bank of India Personal Loan Eligibility

    SBI processes personal loan applications quickly subject to the eligibility of the loan applicant. Some of the main factors on which loan eligibility depends are mentioned below.

    • Job of the applicant
    • State Bank of India places huge importance on the job type of personal loan applicants. Any applicant who earns a regular income and is either from a reputed organization or from a government sector enterprises is given preference over customers who do not work for known organizations. Known organizations offer stable jobs and as such the repayment capacity of customers is better.

    • Age of the applicant
    • Banks want customers to be in the earning age group so that chances of repayment on time are increased and those of defaulting are decreased. Hence, age of the applicant for SBI personal loans is generally above 21 years and below 58 years; except for pensioner loan which is aimed at providing finance to senior citizens.

    • Credit history
    • Credit history is a record of you as a borrower. Obtaining credit depends a lot on your past credit history. This lets banks know how regular you are in paying your loan installments and how have you have handled your previous credit lines. Your credit history gives banks ample data to evaluate you as a worth customer.

    • Relationship with the bank
    • Banks already know all KYC parameters for existing customers and as such are more open to providing credit to their existing customers rather than outsiders. This is also because they know about your financial assets and your general financial health which makes decision-making easier for them while sanctioning loans.

    • Monthly income of the loan applicant
    • Monthly income of a loan applicant determines his/her repayment power. Higher the monthly income easier it is for borrowers to pay loan installments. Generally, banks lend only when the total amount of your loan liabilities for a month is equal to or less than 40% of the monthly income.

    • Existing debt liabilities
    • Lower the number of credit channels like loans etc. on your name, higher is your SBI personal loan eligibility. This is because, too many debt liabilities can hamper regular payment of installments and as such customer might default. Hence, banks look at how many existing loans you have on your name before sanctioning personal finance.

    How Credit Score Affects your SBI Personal Loan Eligibility?

    Credit score is a number assigned to each individual based on his/her credit history. CIBIL in India has the authority to collect and furnish credit history and score of customers. Banks while lending to individuals as well as companies look first and foremost at the credit score of the entity. Poor scores are generally unable to get loans from banks or even if they get, the amount is either very low or the rates charged are considerably higher.

    This why credit score is an extremely important parameter to watch out for before you apply for credit. Best and the advisable course of action is to first check your credit score and then apply for loans. In case, the score is poor, efforts should first be made to improve it before applying with any bank. This is essential in order to stop further lowering of credit score.

    How to Increase SBI Personal Loan Eligibility?

    Personal loan eligibility can be increased by taking a few steady steps that contribute to strengthening a customer’s credit history.

    • Maintain a good credit history:
    • Timely bill payments, installment payments and proper closure of loans affects your credit history. All these things when done rightly and on time help you in maintaining a good credit record which is essential for obtaining any form of credit.

    • Have a mix of both secured and unsecured loans:
    • A right mix of secured and unsecured loans paves the way for good credit history. Having just unsecured loans does not reflect too well on customer’s financial records and as such you should try availing both forms of credit to add credibility to your financial strength.

    • Don’t apply for finance in too many banks:
    • While you may be frantically looking for personal finance in case of any urgent financial need, applying at too many banks is not the best course of action. Too many loan applications with several credit providers may sound too desperate to banks and it also does reflect badly on your credit score.

    • Do not change your job frequently:
    • Banks prefer customers who have a stable job with a stable organization. This ensures banks that the borrower will be able to repay his/her loan dues on time. Banks are always on the look-out to reduce the number of their non-performing loans in order to reduce losses.

    1. What is the maximum personal loan amount offered by State Bank of India?
    2. The maximum personal loan amount offered by SBI is Rs.15 lacs. The quantum of loan also depends on income and job type of the applicant.

    3. What are the processing charge for personal loan from State Bank of India?
    4. Processing fee charged by State Bank of India on its personal loan products is usually 1% of the loan amount availed. However, senior citizens need to pay only 0.5% of their loan amount.

    5. Do I need to be an existing State Bank of India customer to avail personal loan?
    6. Yes. Existing customers of State Bank of India are offered personal finance. New customers can first obtain an account with the bank and then apply for personal loan.

    7. Can self-employed individuals apply for personal finance from State Bank of India?
    8. Yes. State Bank of India offers personal finance to self-employed individuals as well.

    9. Does State Bank of India offer special personal loan scheme for women applicants?
    10. No. Currently no special personal loan scheme is being offered by the bank to women customers.

    11. Does the bank require a collateral as security for personal loan?
    12. No. SBI does not ask for collateral as security for personal loans.

    Personal Loan Reviews

    • SBI Personal Loan
      "Interest rate should be reduced"
      0.5 4.0/5 "Great!"
      In SBI interest rate is high for the personal loan the documentation process was absolutely fine they sanctioned it on time, I have taken the loan amount for 5 years and I done balance transfer to other bank there is no charges and any other fee.
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 15, 2019
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The overall experience i had with this loan was quite good and the process did not took much time. The loan amount which they had provided was sufficient and the interest rate with them has been quite nominal when compared with the market rate, there has not been any extra charges they had made as well.
      Was this review helpful? 2
      , bangalore
      Reviewed on Feb 12, 2019
    • SBI Personal Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      My personal account was taken with STATE BANK OF INDIA .They provide nominal rate of interest and there is no processing fee and i am happy with that . I am very happy with their services and they provide sufficient loan amount . Overall it has been good experience .
      Was this review helpful? 7
      , bangalore
      Reviewed on Feb 07, 2019
    • SBI Personal Loan
      "Very bad loan process"
      0.5 1.0/5 "Really Bad"
      I have bought my personal loan from State bank of India. They have given me a loan amount of Rs. 1 lakhs with the tenure period of 1 years which is a less tenure . I need to pay the EMJ of Rs. 14000 every month which is quite touch hence i have done the pre-closure after 3 months for that they have charged me 4% pre-closure charges.
      Was this review helpful? 1
      , nasik
      Reviewed on Feb 04, 2019
    • SBI Personal Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan in State Bank of India before one year. The interest rate was minimum which was around 11% and am satisfied. The customer service was better. The loan duration is 5 years. They have charged me a processing fee and it was reasonable.
      Was this review helpful? 6
      , mumbai
      Reviewed on Feb 04, 2019
    • SBI Personal Loan
      "GOOD"
      0.5 4.0/5 "Great!"
      I have been using the personal loan with the STATE BANK OF INDIA where i have taken it before two years and i had a good service with this bank. The documentation process is quick to get the loan also added on that the rate of interest is nominal. The duration to repay the loan is for 3 years.
      Was this review helpful? 3
      , bangalore
      Reviewed on Feb 02, 2019
    • SBI Personal Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I hold my personal loan with State bank of India from past two and half years, i got this loan as i am an existing account holder i hold salary account with this bank, so they gave me loan stating that i am eligible for loan, but i am not happy with their service,their customer care have not resolve properly, the loan amount they have charged me up to 5,00,000 but i felt the rate of interest they have charged me was high they have charged me up to 14% it was high compare to the market price, and emi it was to get deducted direct through my salary account.Still this loan is running, the tenure period is up to 5 years.
      Was this review helpful? 1
      , jaora
      Reviewed on Feb 02, 2019
    • SBI Personal Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have taken the personal loan with the STATE BANK OF INDIA where i have taken it without the documentation process also i am using it from last one month. The loan amount is very good with this bank. The rate of interest is 11% with this bank where the duration to repay is for 48 months.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Feb 01, 2019
    • SBI Personal Loan
      "Need to improve the service"
      0.5 1.0/5 "Really Bad"
      I had a personal loan with SBI and it was completed year back. My experience is not good and there was no reminder call or msg for the loan due's and faced so many problems. I have done a partial payment with some penalty. They need to improve the service.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Jan 31, 2019
    • SBI Personal Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have taken a Jumbo Loan on credit card. The process was immediate and it was happened within one hour. I have completed almost and took the loan long back 4 to 5 years recently have taken again which is on going. There was a processing fee of 2% where all the banks are charging the same.
      Was this review helpful? 5
      , pune
      Reviewed on Jan 31, 2019
    • SBI Personal Loan
      "Good personal loan experience"
      0.5 5.0/5 "Blown Away!"
      They are asking too many documents from the customer and they are delaying the customer to sanction the loan. The service is really good. They were asking the surety from the customer with some terms and conditions. They have been giving the documents providing the sanctioned because the customer need to know about the interest rate and tenure period.
      Was this review helpful? 4
      , salem
      Reviewed on Jan 28, 2019
    • SBI Personal Loan
      "Good Loan Process"
      0.5 3.5/5 "Pretty good"
      Purchased my State bank of India personal loan long back and i have closed the loan 5 years back. I got the loan amount of Rs. 3 lakhs. Total tenure period of the policy 5 years. Comparatively its little difficult to get the personal loan from SBI. I'm satisfied with the service given by SBI.
      Was this review helpful? 6
      , thiruvananthapuram
      Reviewed on Jan 27, 2019
    • SBI Personal Loan
      "Avergae"
      0.5 2.0/5 "Expected more"
      I have taken personal loan through SBI , the customer service sis good and i did not face any issue with them . There is no hidden charges with this bank and tenure period is 5 year . Loan amount is up to the mark . Processing fee is nominal . Only the thing is there is so much of documentation of work .
      Was this review helpful? 4
      , kolkata
      Reviewed on Jan 27, 2019
    • SBI Personal Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this loan a long time back and i had closed it three to four months back. The loan amount which they had provided has been sufficient but the interest rate with them was a little higher but it was okay. The charges which they had made has been nominal and their customer support was helpful.
      Was this review helpful? 6
      , hosur
      Reviewed on Jan 26, 2019
    • SBI Personal Loan
      "Fast approval"
      0.5 5.0/5 "Blown Away!"
      I applied for Rs. 70,000 person loan in SBI, within a minutes it got credit. Again within a week I closed the loan. I applied the loan through mobile application and I checked the eligibility it showed Rs. 70,000 within a minutes it got approved and sanctioned. The verification process was good.
      Was this review helpful? 5
      , kochi
      Reviewed on Jan 25, 2019
    • SBI Personal Loan
      "Documentation should be simple"
      0.5 4.0/5 "Great!"
      SBI sanctioned Rs. 2.5 lakhs personal loan for the period of four years, I paid the whole emi and closed the loan. I got the noc letter from the bank, by taking the loan I felt the documentation was inconvenient, but for the settlement the process was smooth.
      Was this review helpful? 4
      , chandigarh
      Reviewed on Jan 25, 2019
    • SBI Personal Loan
      "Best Loan Process"
      0.5 5.0/5 "Blown Away!"
      Before three years I took SBI personal loan, monthly I used pay Rs. 25,000 it for five years then I done foreclosure without any extra charges. The rate of interest is less around 12% in SBI then its keep deducting the principal like equity. Automatically emi amount came down. The best part the customer behavior is good.
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 24, 2019
    • SBI Personal Loan
      "Good Financial service"
      0.5 4.0/5 "Great!"
      I have take personal loan from the sbi which they approved in few days and the amount is reflected in next day ,its instant approval process. As am satisfied with the rate of interest which is nominal one .They provided good tenure period .and i make the payment monthly though ECS.. There is no processing fees also,
      Was this review helpful? 2
      , chennai
      Reviewed on Jan 23, 2019
    • SBI Personal Loan
      "Need to reduce ROI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan with SBI and my experience was good, the loan amount was sufficient and the rate of interest was high when compared to other banks. Customer service was good and they responded on time. Tenure period for this loan is 3 years.
      Was this review helpful? 3
      , chennai
      Reviewed on Jan 21, 2019
    • SBI Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using my personal loan with State bank of India, there service is Excellent, they have given me sufficient loan amount, and the rate of interest they have charged me was nominal they have charged me up to 15%, and i am happy and even processing fee they have charged is nominal, there are no hidden charges,i will appreciated them that they do not call me much,they give me my own space. The overall service provided by them is good.
      Was this review helpful? 3
      , bangalore
      Reviewed on Jan 21, 2019
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