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    • SBI Personal Loan

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    • SBI personal loans are offered at attractive interest rates to a varied customer base. The one-time loan processing fee is nominal and the repayment tenure can go up to 5 years.

    • Maximum loan amount is Rs.20 lakh 
    • Interest rates start at 9.85% p.a.
    • Quick approval
    • Processing fee is 1% of the loan amount
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    SBI Pre-Approved Personal Loans

    If you have an account with SBI, you can get a pre-approved personal loan instantly through the YONO app. The service is available 24*7 making it all the more convenient for customers looking for instant cash. The interest rate starts from 12.85% p.a.

    Features and Benefits

    • Competitive interest rates
    • Low processing fees
    • Instant credit facility 
    • No physical documentation required 
    • 24*7 convenience

    Eligibility 

    First of all, you need to have an account with SBI to avail SBI Pre-Approved Personal Loans. Other than that, the bank pre-selects customers for pre-approved loans based on certain parameters. To know your eligibility, SMS “PAPL” to 567676. 

    How to Apply for SBI Pre-Approved Personal Loans 

    You can avail the loan through YONO app. Here’s how to apply for the loan. 

    Step 1: Download YONO and log in 

    Step 2: Click on “Avail Now” 

    Step 3: Select your preferred tenure and amount 

    Step 4: You will receive and OTP, enter it 

    Step 5: If you are eligible, the amount will be credited to your SBI account 

    Why Should You Choose SBI Personal Loan?

    • Quick disbursal of the loan amount, i.e., within 2-7 days.
    • Minimal preclosure charges for most personal loan products.
    • No administrative charges or any other kind of hidden costs.
    • Minimal documentation for application.
    • Most affordable interest rates in the market.
    • Convenient modes of repayment such as check-off facility, post-dated cheques, or cash.

    In accordance with RBI’s COVID-19 regulatory measures, SBI has announced to defer instalments and EMIs on term loans outstanding between 1 March 2020 and 31 May 2020. Further, recent RBI directive on 23.05.2020, the moratorium period has been extended for another 3 months for EMI's falling due from 01.06.2020 to 31.08.2020. The highlights of the measures taken are as follows:

    • Customers who want to defer their personal loan EMIs can do so by submitting an application (Annex-I) along with mandate for NACH (National Automated Clearing House Extension-(Annexure-II) to stop NACH for these instalments.
    • This can be done by sending an e-mail to the specified email ID (Annexure-III).
    • Visit SBI’s official website to view and download the annexures.
    • This is only for those whose EMI collections are carried through NACH.
    • The second option is by submitting an application (Annexure-I) through an email to the specified email ID (Annexure-III). This is for those whose EMIs are collected through standing instructions.
    • No action is required for those who DO NOT want to defer their loan instalments.
    • If you opt for deferment, the interest will continue to accrue on the outstanding loan amount during the moratorium period.

    Looking for these details?

    State Bank of India is a leading public sector lender that offers three types of personal loans –

    Comparison of SBI Personal Loan Schemes

    Listed below are the various personal loans offered by the SBI along with the particulars of each type of loan.

    i) Xpress Credit Personal Loan

    This personal loan scheme is designed for salaried customers having a salary account with SBI with a minimum income of Rs.15,000.

    Particulars Effective Interest Rate Loan amount
    Term Loan 10.85% - 11.35% Up to Rs.20 lakh
    Overdraft Facility 11.35% - 11.85% Up to Rs.20 lakh

    Key Benefits

    • Loans can be repaid over a duration of 5 years
    • A second loan can be taken by borrowers

    ii) SBI Pension Loan

    This scheme is specifically designed for pensioners below 76 years of age. However, to get this loan, you need to make sure that the pension payment order is maintained by SBI.

    Particulars  Effective Interest Rate  Loan amount 
    Pension Loan  10.80% - 11.30% Up to Rs.15 lakh 

    Key Benefits

    • Defence pensioners do not have to pay a processing fee

    Fees and Charges

    The various types of fees and charges that are levied by State Bank of India for personal loans are as follows:

    Loan Scheme  Processing Fee  Prepayment charge  Penal Interest 
    Xpress Credit  1.5% of the loan amount  3% on the prepaid amount  2% p.a. 
    SBI Pension  0.5% of the loan amount  3% on the prepaid amount  - 
    *3% will be levied on the prepaid amount if the borrower makes a part or full pre-payment and closes the loan account before the completion of the loan term

    SBI Pre-approved loan schemes 

    Pre-approved Personal Loans to the Salaried & Pensioners on Yono 

    If you are a pre-selected customer who hold a salary package or a pension account with SBI can apply for a personal loan at your own convenience 24x7 using the YONO app.  

    Some of the features of this personal loan scheme are: 

    • Customers are pre-selected 
    • Low processing fee 
    • No hidden cost 
    • 24x7 convenience 
    • The loan is processed instantly 
    • No physical documentation required 

    Pre-approved Personal Loans to Non-salaried (PAPL) On Yono 

    If you are customer of SBI who holds an account with regular deposits and average monthly balance beyond a certain threshold and do not hold a salary account are eligible to apply for a personal loan of up to amount of Rs.2 lakh. The customers are pre-selected and can avail the loan at their own convenience on a 24x7 basis using the YONO app. 

    Some of the features of this personal loan scheme are: 

    • Customers are pre-selected 
    • Low processing fees 
    • 24x7 convenience 
    • The loan is processed instantly 
    • No need of physical documents 

    SBI Personal Loan Eligibility

    The eligibility criteria that prospective borrowers will have to meet to avail a personal loan from State Bank of India are as follows:

    Eligibility for Xpress Credit Personal Loan

    • The loan applicant’s minimum net monthly income (NMI) should be Rs.5,000.
    • The EMI/NMI Ratio should not be above 50%.
    • The applicant should be an employee at any of the following organizations:
      1. Central and state governments
      2. Central and state PSUs
      3. Educational institutions with a national reputation
      4. Quasi-government
    • Certain corporates that have an exclusive business relationship with SBI
    • Companies that do not have any business relationship with SBI OR any Emigration Check Required (ECR), subject to specific terms and conditions.

    Eligibility for SBI Pension Loan

    • You will need to be a central or state government pensioner, defence pensioner or a family pensioner to apply for this loan scheme offered by SBI. A family pensioner is the spouse of a pensioner who is allowed to obtain pension when the pensioner dies.
    • The pensioner, as well as, the family pensioner’s age should not be above 76 years.
    • For pensioners whose pension is disbursed by government treasuries, the concerned pensioner will need to give a mandate to the treasury to make the pension payment to the particular bank branch. This certain undertaking cannot be rescinded at any point in time. The treasury will also write a note that it will not agree to take any request from any pensioner to make changes to the pension payment to any other branch or bank.
    • A defence pensioner can be any pensioner of the armed forces. The armed forces include Paramilitary Forces, Army, Rashtriya Rifles, Air Force, Navy, Coast Guards, and Assam Rifles. The pension payment order will need to be with SBI.
    • The EMI (Equated Monthly Instalments) or NMP (Net Monthly Pension) should not be above 50% for every pensioner. For family pensioners, the EMI or NMP should not be above 33%.

    Documents Required to apply

    Photograph Passport size (2 copies)
    Identity Proof PAN card/Voter ID/Driving License/Passport
    Address Proof Landline bill/Electricity bill/Ration card/Voter ID/Passport
    Income Proof Latest salary slip/Form 16/last 6 months account statement audited/ITR return for last 2 yrs
    Other(related documents) Check-off letter from employer

    How the EMI calculation works for SBI personal loans? 

    Consider a scenario where a person earning Rs.40,000 per month takes a personal loan of Rs.1 lakh under the SBI Xpress Credit personal loan scheme. The bank charges an interest rate of 10.85% p.a. and a processing fee of 1% on the loan amount. For a loan repayment tenure of 1 year, he must pay an EMI amount of Rs.8,831 every month. His loan repayment schedule is given as follows:

    Year  Principal Paid(A)  Interest Paid(B)  Total Payment (A+B)  Outstanding Loan Balance 
    2020  Rs.65,461  Rs.5,189  Rs.70,650  Rs.34,540 
    May  Rs.7,927  Rs.904  Rs.8,831  Rs.92,073 
    Jun  Rs.7,999  Rs.832  Rs.8,831  Rs.84,074 
    July  Rs.8,071  Rs.760  Rs.8,831  Rs.76,003 
    Aug  Rs.8,144  Rs.687  Rs.8,831  Rs.67,859 
    Sep  Rs.8,218  Rs.614  Rs.8,832  Rs.59,642 
    Oct  Rs.8,292  Rs.539  Rs.8,831  Rs.51,350 
    Nov  Rs.8,367  Rs.464  Rs.8,831  Rs.42,983 
    Dec  Rs.8,443  Rs.389  Rs.8,832  Rs.34,540 
    2021  Rs.34,541  Rs.784  Rs.35,325  Rs.0 
    Jan  Rs.8,519  Rs.312  Rs.8,831  Rs.26,022 
    Feb  Rs.8,596  Rs.235  Rs.8,831  Rs.17,426 
    Mar  Rs.8,674  Rs.158  Rs.8,832  Rs.8,752 
    Apr  Rs.8,752  Rs.79  Rs.8,831  Rs.0 

    How SBI compares with other lenders? 

    Fees and charges  SBI Personal Loan  HDFC Bank Personal Loan  Axis Bank  Citibank Personal Loan 
    Interest rate    9.85% p.a. onwards    10.75% p.a. onwards   12% p.a. onwards    At the discretion of the lender 
    Processing fee    1% + GST    2.5% + GST    2% + GST    3% of the loan amount 
    Foreclosure charges    3% of the outstanding loan amount    2% to 4% of the outstanding loan amount   N/A    Up to 4% of the outstanding principal amount  
    Late payment fee    2% of the overdue amount    2% of the overdue amount    2% of the overdue amount per month   No late payment charges 

    Given that State Bank of India offers three personal loans as part of its suite of offerings, prospective borrowers can evaluate their needs and opt for a suitable type of loan.

    SBI loan schemes for NRI

    • NRI's can go for this loan scheme from SBI to meet any of their needs such as buying a house or meeting immediate financial needs. The bank will not be repatriating your loan amount abroad.
    • This SBI loan will be handed over solely to the depositor.
    • You can procure this loan in foreign currency or Indian Rupee by pledging a security of your NRE or FCNR or NRO deposit.
    • You can choose a demand loan, an overdraft, or a foreign currency loan.
    • The loan period for this loan is up to the outstanding maturity period.
    • The margin for this loan scheme is 10% which includes accrued interest as well principal.

    SBI online overdraft (OD) against your NRI deposit

    For SBI online OD, you will not have to come down to India to complete the application process in India. You can utilise the bank’s internet banking platform to apply for the loan facility.

    Eligibility criteria Any customer with an NRE or NRO fixed deposit
    Minimum residual period 6 months
    Permissible limit
    • TDR or eTDR: 75% of the face value of the deposit
    • STDR or eSTDR: 90% of the face value of the deposit
    Minimum loan amount Rs.25,000
    Maximum loan amount Rs.5 crore
    Cut-off time Online application for overdraft facility will be open from 8 a.m. to 8 p.m. IST
    Interest rate 1% above the interest payable on the fixed deposit
    Loan tenure for TDR or eTDR 3 years or the outstanding maturity period of fixed deposit, whichever is lower.
    Loan tenure for STDR or eSTDR 5 years or the outstanding maturity period of fixed deposit, whichever is lower.
    • In the above-mentioned table, the NRE or NRO fixed deposit in the eligibility criteria includes Special term deposit (STDR) or eSTDR or Term Deposit Receipt (TDR) or eTDR in a single name holder only.
    • In the above-mentioned table, the permissible limit section refers to the overdraft limit against deposits. You will not be able to make any modifications to the overdraft limit.
    • This loan scheme is not given to joint holders of deposits.
    • The loan will be provided to you with the help of internet banking. If you want to withdraw or shift the fund, you can do it via cheque or online banking.
    • If you want to close the SBI NRI overdraft account, you will have to visit any of the branches in India. This overdraft account closure cannot be done online as of now.

    Know before getting a Loan

    FAQs for SBI Personal Loan

    1. How to check SBI personal loan status?

      You can track your SBI personal loan status by contacting customer care or visiting the nearest branch.

    2. How to contact SBI personal loan customer care?

      You can contact SBI personal loan customer care number through the following ways: 

      • Call the 24x7 toll-free helpline numbers which are 1800 425 3800 and 1800 11 2211. 
      • You can also call the number 080-26599990 which is chargeable. 
    3. What are the different types of SBI personal loans offered to employees of corporates?

      Employees of corporates can apply for the Xpress Power Loan or the Xpress Credit Personal Loan, provided they meet the eligibility criteria. Keep in mind that you will need to have a salary account with the lender to apply for the Xpress Credit Personal Loan.

    4. If I take a personal loan from SBI, when will my liability to the bank come to an end?

      Once the entire outstanding loan amount becomes zero, your liability for your SBI personal loan will be removed.

    5. What are the options to repay my SBI Personal loan?

      You can repay your SBI Personal Loan via EMIs through the ECS facility or through Standing Instruction.

    6. Can I prepay my SBI Personal Loan and will I need to pay any additional charge on the prepayment of this loan?

      Yes, you can prepay your SBI Personal Loan. The bank charges prepayment penalty for certain personal loan schemes. You can find out more about this charge when you apply for the loan.

    7. What are the personal loan products offered by SBI?

      The 3 main types of SBI personal loan products include: SBI Xpress Power, SBI Xpress Credit Personal Loan, and SBI Pension Loan

    8. What is the minimum loan amount for SBI loan for central and state government pensioners?

      The minimum loan amount for SBI loan for central and state government pensioners is Rs.25,000.

    9. How can a personal loan borrower get in touch with SBI if he or she has any queries?

      A personal loan borrower can reach out to SBI for support by making use of any of the customer care number or email addresses. The customer can also write an email to the grievance cell of SBI or visit any SBI branch for assistance.

    10. Could you tell me the general loan tenure for SBI personal loans?

      All SBI personal loans are typically provided for a period of up to 60 months.

    11. What should be my income to secure a personal loan from State Bank of India?

      SBI offers personal loans to individuals with incomes as low as Rs.5,000. However, this amount might vary depending on the scheme applied for.

    12. Do I need to have a guarantor to apply for the Xpress Credit Personal Loan from State Bank of India?

      No, the lender does not require you to have a guarantor. However, before applying for the loan, you should ensure that you meet the eligibility criteria specified by the lender.

    A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.

    News About SBI Personal Loan

    • Interest Rates Cut by SBI

      The Repo-Linked Lending Rate (RLLR) of SBI was cut by 75 basis points on the same day of the RBI’s announcement. This will impact the loans that are linked with the RLLR as well as with the External Benchmark linked lending Rate (EBR). With effect from 1 April 2020, there is a reduction in SBI’s RLLR and EBR by 75 bps. This has resulted in the RLLR now being 6.65% p.a. as opposed to 7.40% p.a. The EBR is now 7.05% p.a. as opposed to 7.80% p.a.

      31 March 2020

    • SBI announces 3-month moratorium on all term loans

      State Bank of India announced a moratorium period of 3 months for all its term loans, following the policy announcement by the Reserve Bank of India of the same. This is applicable across the board for all of SBI’s term loans which will include personal loans, car loans, home loans, etc.

      Term loans are those which have a specific and fixed repayment tenure. The moratorium policy was announced by the RBI Governor, Shaktikanta Das, as a measure to ease the economic impact of the Covid-10 pandemic which has resulted in a 21-day lockdown across India. The moratorium will be applicable for all kinds of terms loans on the outstanding effective from 1 March 2020.

      27 March 2020

    • Fresh additions to SBI’s bad loans to ease by 2020

      State Bank of India expects less number of loans to turn bad going forward. By the end of the current financial year, the bank aims to contain the slippage ratio of its loan books within 2%. On 30 September 2019, the loan book of the bank was at Rs.22.48 lakh crore. However, the bank’s baseline is between Rs.32,000 and Rs.34,000 crore which amounts to 1.6% of the current loan book. The gross slippages even in challenging times are not expected to exceed 2%. To protect against this, SBI provides against these slippages in advance by holding provisions that exceed the estimated loss given default. In the September-ended quarter, slippages halved to Rs.8,805 crore. In the previous quarter it was Rs.16,212 crore. Last year, in the same quarter, the slippage was Rs.10,725 crore. In the previous quarter the slippage ratio was 2.83% whereas in the second quarter it was 2.18%. It made upfront provisions against two accounts that were stressed by using the proceeds of its 4.5% sale in its life insurance subsidy. The Rs.3,500 crore that was obtained from the sale was used for a power company account (Rs.2,600 crore) and the remaining was put into a housing finance company account. Now there is adequate capital with the bank.

      5 November 2019

    • SBI replaces Bajaj Finance on the list of top 10 most valued firms

      The largest public sector lender in the country, State Bank of India (SBI) has made a re-entry into the elite club of the top-10 most valued companies by market valuation after a two weeks gap. On 1 October 2019, it had lost its position to Bajaj Finance when the latter had replaced its spot at the 10th position. On the Bombay Stock Exchange, the market capitalisation of SBI at the end of the session of 15 October stood at Rs.2,27,979.20 crore which was Rs.2,899 crore more than the market capitalisation of Bajaj Finance. The top position in the list of India’s most valued firm is occupied by Reliance Industries Ltd. Which has a market capitalisation of Rs.8,60,631.07 crore followed by TCS which has a market capitalisation of Rs.7,58,338.19 crore. The other companies in the list include Hindustan Unilever, HDFC Bank, ICICI Bank, Infosys, State Bank of India, and Kotak Mahindra Bank. The data on market capitalisation of companies changes daily with the movement of share prices.

      17 October 2019

    • SBI raises cash deposit limit in non-home branches

      The State Bank of India (SBI) announced that it has removed the upper limit on cash deposits in non-home branches, which was earlier Rs.25,000. However, the bank would charge Rs.50 (plus GST) on each of the cash deposit transactions in non-home branches that is above the 3 free cash deposit transactions in the course of a month. SMEs would still have a cap of Rs.2 lakh per day deposit at non-home branches. The announcement was made ahead of the festive season. The cash deposits can be done using the SBI Cash Deposit Machine (CDM) machine. The deposits are done using the ATM debit card. The machine credits the amount instantly so visits to the bank branch office is unnecessary. There is a limit, per transaction, which is Rs.49,990 for cardless deposits and Rs.2 lakh for deposits through debit cards. The SBI CDM can also be used to deposit cash in loan, recurring deposit (RD) and Public Provident Fund (PPF) accounts. The CDM accepts currency notes up to 200 in number and in denominations of Rs.2,000, Rs.500, and Rs.100.

      25 October 2018

    • SBI Carnival 2018 Held in Hyderabad Showcasing SBI Loan Products

      The State Bank of India (SBI) has recently organised the SBI Carnival 2018 - a car and home expo from SBI - in Hyderabad. This event was inaugurated at Hitex on 1 September 2018 by the Special Chief Secretary of Revenue and Chairman of RERA, Telangana - Rajeshwar Tiwari - along with the Chief General Manager of the Local Head Office of SBI within Hyderabad Circle - Swaminathan J. During this 2-day event, more than 200 projects were showcased by over 50 builders while more than 10 car dealers unveiled. As per the statements of an official of SBI, this event is one of the biggest expos of its kind that are held in Hyderabad. Through this event, the bank has provided a platform to the visitors in order to help them select their dream car and the house that they have always wanted to own. SBI is a forerunner in bringing home loan products that are extremely competitive in nature. At this expo, the bank has decided to showcase its home loan products along with retail loan products such as car loan, personal loan, education loan, loan against property, etc. In addition to free CIBIL score check, SBI has also made arrangements so that customers can get their car and home loans approved on the spot at the expo.

      SBI acclaims that the real estate market in Hyderabad is developing in leaps and bounds owing to the high office space occupancy rate, rapid infrastructure development, and improved connectivity by the Hyderabad Metro and ORR. It is speculated that the introduction of Real Estate Regulatory Act (RERA) will help the market get further streamlined and vibrant. In the meanwhile, SBI is offering its complete support to the market by launching the most competitive and innovative products.

      14 September 2018

    • SBI Carnival 2018 Held in Hyderabad Showcasing SBI Loan Products

      The State Bank of India (SBI) has recently organised the SBI Carnival 2018 - a car and home expo from SBI - in Hyderabad. This event was inaugurated at Hitex on 1 September 2018 by the Special Chief Secretary of Revenue and Chairman of RERA, Telangana - Rajeshwar Tiwari - along with the Chief General Manager of the Local Head Office of SBI within Hyderabad Circle - Swaminathan J. During this 2-day event, more than 200 projects were showcased by over 50 builders while more than 10 car dealers unveiled. As per the statements of an official of SBI, this event is one of the biggest expos of its kind that are held in Hyderabad. Through this event, the bank has provided a platform to the visitors in order to help them select their dream car and the house that they have always wanted to own. SBI is a forerunner in bringing home loan products that are extremely competitive in nature. At this expo, the bank has decided to showcase its home loan products along with retail loan products such as car loan, personal loan, education loan, loan against property, etc. In addition to free CIBIL score check, SBI has also made arrangements so that customers can get their car and home loans approved on the spot at the expo.

      SBI acclaims that the real estate market in Hyderabad is developing in leaps and bounds owing to the high office space occupancy rate, rapid infrastructure development, and improved connectivity by the Hyderabad Metro and ORR. It is speculated that the introduction of Real Estate Regulatory Act (RERA) will help the market get further streamlined and vibrant. In the meanwhile, SBI is offering its complete support to the market by launching the most competitive and innovative products.

      14 September 2018

    • New SBI SME Branch Inaugurated in Partapur Industrial Estate

      The Chairman of the State Bank of India (SBI) inaugurated a branch in Meerut for its SME customers. Mr. Rajnish Kumar facilitated beneficiaries of the MUDRA loan and talked about the benefits of the loan.

      In addition to drawing light on the Pradhan Mantri MUDRA Yojna, the chairman also met with army veterans and planted trees in the SBI cantonment branch. Mr Kumar further discussed the city’s dominance in SME businesses and the financial support that the MUDRA scheme provides these businesses.

      29 August 2018

    • SBI and NABARD Signed Agreement to Offer Easy Credit in Telangana

      The National Bank for Agriculture and Rural Development (NABARD) and State Bank of India (SBI) have come together to sign a pact that will help customers avail collateral-free loans through Joint Liability Groups (JLGs) in the state of Telangana. Under this initiative, SBI and NABARD have signed a Memorandum of Understanding (MoU) along with 7 NGOs from the districts of Medak, Warangal, and Nizamabad. The tripartite MoU has been signed by J. Swaminathan, Chief General Manager of SBI, and P. Radhakrishnan, Chief General Manager of NABARD, at Hyderabad on 10 July 2018. This agreement will promote and link the credits of 2,000 JLGs of the state during the current financial year. Furthermore, the agreement states that NABARD will provide assistance to the NGOs to form, nurture, hand-hold JLGs of sharecroppers, tenant farmers, and oral lessees. On the other hand, under the pact, SBI will offer financial support without any collateral to the groups promoted by the NGOs.

      25 July 2018

    • SBI kickstarts YONO Rath to improve app popularity

      The State Bank of India recently flagged off YONO Rath, an effort to popularise the YONO app among its customer base. The YONO (You Only Need One) app was first released in November 2017 and satisfies all of your financial needs in one place by providing facilities such as digital banking that you might need on a daily basis. The app gives an option to open an Insta Savings Bank account without having to visit the bank branch. The application is jargon free and can be used by anyone for performing any bank activity.

      22 June 2018

        

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    SBI Personal Loan Reviews

    Write a Review
    • SBI Personal Loan
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      STATE BANK OF INDIA has offered me a personal loan and the loan amount was Rs.5L, the rate of interest was normal 11.5%. Fore closure charge is there and i opted for the tenure of five years and i am paying EMI of Rs.10,000. This loan got disbursed within a day and that was a smooth process.
      Was this review helpful? 16
      , chennai
      Reviewed on Mar 16, 2020
    • SBI
      SBI Personal Loan
      "Very transparent and reliable services"
      0.5 4.5/5 "Excellent!"
      From YONO app i have applied the personal loan with State Bank of India. They have sanctioned the loan in 24 hours and They have not collected any documents from my end. They just got the agreement from email and they have not charged me any processing fee and the interest rate is only 9%. I have selected the tenure period of 3 years. There is a pre-closure facility without having any additional charges.
      Was this review helpful? 9
      , hyderabad
      Reviewed on Mar 11, 2020
    • SBI Personal Loan
      "Medium"
      0.5 4.0/5 "Great!"
      I am holding an account with SBI for long years hence I got pre approved loan offer from their end and taken a personal loan on one year back. Within 2-3 days they have sanctioned the loan, so far I had paid EMIs on time and I am going to close the loan by next month. Mobile app is user friendly to access but only interest rate is high. EMI need to pay of around 6.5K - 7K.
      Was this review helpful? 13
      , bangalore
      Reviewed on Feb 26, 2020
    • SBI Personal Loan
      "Good Loan Service"
      0.5 4.0/5 "Great!"
      I have a savings account with SBI so when i had an requirement they have offered me a personal loan quickly. On the spot, they have sanctioned my loan without any documents. I have selected the duration of 1 year to close this loan. Taken the loan amount of Rs. 60000 and i pay the EMI of Rs. 5000 every month. Its a interest free loan.
      Was this review helpful? 6
      , visakhapatnam
      Reviewed on Feb 24, 2020
    • SBI Personal Loan
      "Interst rate was high"
      0.5 3.0/5 "Satisfactory"
      I have taken a personal loan from SBI, the loan amount was Rs. 10L. The rate of interest was high 14% and i am paying EMI 23,000 for the tenure period of 5years. I applied this loan directly through bank that was very easy process and i received this loan within 2 days, pre closure charges are not known.
      Was this review helpful? 8
      , coimbatore
      Reviewed on Feb 20, 2020
    • SBI Personal Loan
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have applied personal loan directly from SBI. Process was very good and i received this loan with in 2 -3 days. Even my credit score was good, i have submitted all my documents and i signed so it got approved. The rate of interest was very less with the tenure of 2 years and EMI 6000 , their service was good.
      Was this review helpful? 5
      , bangalore
      Reviewed on Feb 20, 2020
    • SBI Personal Loan
      "Good loan offer from SBI"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI on last 6 months back. The rate of interest around 12.75% and processing fee was detected of 0.5% is less. The loan amount of 6.50L which is sufficient. Since I am holding a salary account with this bank so I got pre approved loan offer, they have provided the amount within 4-5 days and tenure period is 6 years. There is a pre closure option with charges of high around 2-3% but the locking period is 6 months. Am EMI around 12,800 rupees. I use to get remainder message on time for the payment.
      Was this review helpful? 6
      , jamshedpur
      Reviewed on Feb 20, 2020
    • SBI Personal Loan
      "Need to imrpve their service "
      0.5 3.0/5 "Satisfactory"
      I am not satisfied with SBI service. I have taken a personal loan on 3 months back, I got this loan offer from bank. The loan amount was sanctioned of 3.5L with tenure period of 5 years. The rate of interest is nominal and fee was applicable of 3,500 rupees. Through mobile app processed was done for the loan. EMI need to pay of 6,500 rupees.
      Was this review helpful? 3
      , dindigul
      Reviewed on Feb 17, 2020
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken SBI personal loan for my business purpose.The rate of interest and the processing fee was very less and loan got sanctioned on time,still this loan is active.I have availed loan amount of 15lakhs for the tenure of 3 years and still this loan is active on my account .
      Was this review helpful? 1
      , chennai
      Reviewed on Feb 14, 2020
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken personal loan directly through SBI .This loan is still going on .The rate of interest and the processing fee was quite nominal.The processing fee was RS..1000 since have salary account the loan got sanctioned it was a paperless approval .I am happy with the service.
      Was this review helpful? 4
      , bangalore
      Reviewed on Feb 13, 2020
    • SBI Personal Loan
      "Easy loan approval"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI and the loan amount was Rs. 2L. The rate of interest was normal and i opted for the tenure period of 3 years. I am paying EMI 10K, pre closure charge is not applicable. My salary account is with this bank, so less documentation process and i received this loan within a day.
      Was this review helpful? 9
      , chennai
      Reviewed on Feb 10, 2020
    • SBI Personal Loan
      "Easy loan approval"
      0.5 4.0/5 "Great!"
      I have taken a personal loan from SBI 3 years ago. The loan amount was Rs. 1,50,000 and the rate of interest was 12% which was nominal with the tenure of 3 years and i am paying EMI 4K. I have completed this loan right now and i got instantly with the minimum documents.
      Was this review helpful? 9
      , noida
      Reviewed on Feb 06, 2020
    • SBI Personal Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      On 3 years before, I got a personal loan offer from SBI. The process was done on time and even disbursal amount of 5L was sufficient. Interest rate was nominal. EMI use to pay of 8,800 rupees. I was not aware about pre closure option. Their service was good. I had closed the loan 4months before only.
      Was this review helpful? 7
      , visakhapatnam
      Reviewed on Feb 05, 2020
    • SBI Personal Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan of 6L from SBI on 2 years before. It is pre approved loan. So the amount was sufficient when compared to my requirement. The tenure period of 5 years. Rate of interest was 12% which is nominal for this loan. EMI need to pay of 14K on monthly basis and I use to get remainder message on time.
      Was this review helpful? 9
      , shillong
      Reviewed on Feb 03, 2020
    • SBI Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from SBI on 5 years ago and I have already completed the same. I have been holding an account with this bank so I have chose to take the personal loan with them. They offered me a interest rate of 15% and there was no processing fee. I have no knowledge about the part payment and pre- closure. I have selected the duration of 5 years.
      Was this review helpful? 10
      , kolkata
      Reviewed on Jan 25, 2020
    • SBI Personal Loan
      "Good Loan service"
      0.5 4.0/5 "Great!"
      I got the reasonable interest rate for my personal loan from State Bank of India. In other bank interest rates are high so that i bought the personal loan from this bank. They have provided me a loan amount of Rs. 2 lakhs with the interest rate of 7% and the processing fee was just Rs. 500. I am paying the EMI amount of Rs. 9000 every month.
      Was this review helpful? 8
      , bangalore
      Reviewed on Jan 24, 2020
    • SBI Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I had taken a personal loan with SBI on 4 years back. The loan amount of 8L was sanctioned which is sufficient as per my needs. Since for my personal need taken this loan. The tenure period of 4 years. Interest is 10.8% is fine and fee applicable of 10K. I use to get remainder message on time for EMI to pay of 17K. There is no option of pre closure. I have closed the loan and received NOC letter as well.
      Was this review helpful? 6
      , bangalore
      Reviewed on Jan 19, 2020
    • SBI Personal Loan
      "Good Loan Service"
      0.5 5.0/5 "Blown Away!"
      I have taken the personal loan from SBI because based on my savings account. They have provided me a pre- approved loan hence i got it. Even though its a nationalized bank, they are giving good co-operation to the customer. They offered me a interest rate of 12.5%. I took the loan on 7 months ago with the tenure period of 5 years.
      Was this review helpful? 7
      , namakkal
      Reviewed on Jan 18, 2020
    • SBI Personal Loan
      "Need to decrease the rate of interest"
      0.5 4.5/5 "Excellent!"
      I have applied a personal loan from SBI and the loan amount was Rs. 1.25L and the interest rate was 14% it is high actually. I applied this loan directly from bank and I am paying Rs. 4000 with the tenure of 4 years. I am not getting any alert message, call or even mail also.
      Was this review helpful? 15
      , bangalore
      Reviewed on Jan 18, 2020
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I have taken personal loan through SBI .The rate of interest and the processing fee was very high it was 13% due to my requirement i have taken but it would be better if its reduced. It took one week time to get the loan and there was a delay in Verification process .I am satisfied with the service so far.
      Was this review helpful? 14
      , vellore
      Reviewed on Jan 16, 2020
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