Multiple banks. Different interest rates. Call it a "conflict of interest".
  • loading

    We found 1 SBI Personal Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.90% - 14.90% Floating
    1% + applicable tax One time fee
    25K - 15L
    5 Years
    Response Time Within 30 minutes
    Think about
    Eligibility Criteria

    SBI Personal Loan is Rated as "Excellent!" by 367 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    State Bank of India (SBI) is a government-owned bank with its headquarters in Mumbai, Maharashtra. State Bank of India (SBI) offers some of the most exciting Personal Loan products in India. SBI offers 4 exciting types of Personal Loans:Xpress Credit Personal Loan, SBI Saral Loan, SBI Festival Loans, Personal Loans to pensioners. Read on to view full details on what it takes to qualify for an SBI personal loan. By providing a few details about yourself, you can check your eligibility for an State Bank personal loan in seconds.

    You're probably eligible for an SBI Personal Loan if you are

    • At least 21 years old
    • Less than 58 years old
    • Salaried / Self “ Employed with regular income
    • Earn more than the minimum income required

    Your SBI Personal Loan amount eligibility is based on these factors

    • Minimum income required Rs.5,000 per month
    • Maximum allowed personal loan is Rs. 15,00,000 lakhs
    • EMIs of other loans lower your eligibility

    Increase your eligible SBI Personal Loan amount by these steps

    • Pay off your credit card bills
    • Choose longer tenure loan up to 4 years

    Documentation needed to apply for an SBI Personal Loan

    • Proof of identity: Passport/voter ID card/driving license
    • Signed application form with photograph
    • Processing fee cheque
    • Last 3 months bank statement/6 months bank passbook
    • Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
    • Documentation for self-employed applicants:
      • Latest Bank statement
      • Latest ITR or Form 16

    SBI Personal Loan Interest RatesUpdated on 23 Jul 2017

    SBI Personal Loan Details
    Interest Rate 12.90% to 14.90%
    Processing Fees 1% of the Loan Amount + applicable tax
    Loan Tenure 5 years
    Pre-closure Charges 3% on prepaid amount
    Guarantor Requirement No guarantor required

    About SBI Personal Loan

    Enquire for SBI Personal Loan

    State Bank of India, the largest public sector bank in the country is one of the most preferred banks in India when it comes to personal loans. SBI offers personal loans for both salaried and self employed individuals to counter any sort of immediate financial requirements. State Bank of India does not seek any security or collateral requirements for personal loans. The bank does not seek guarantees or collaterals of any forms for personal loans. The money made available to the borrower through SBI personal loan can be used as per the personal requirements for the individual without any restrictions and the bank is not having any criteria for this. SBI personal loans can be useful to counter for any of the following financial requirements:

    • Marriage related expenses in the family
    • Foreign travel
    • Health or medical treatment related expenses
    • Personal financial requirements
    • Other miscellaneous expenses

    State Bank of India offers personal loans at low interest rates and with seasonal offers from time to time, making it one of the most popular choices for borrowers. Low processing fee with zero prepayment penalties and no hidden charges make SBI personal loans a popular choice with both salaried, self employed and working professionals.

    State Bank of India offers personal loan up to 12 times the net monthly income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs with repayment tenure of 48 months. SBI has initiated a quick loan approval system making sure that all personal loan requests are approved in a maximum period of 3-4 days of submission of complete documentation.

    Why choose SBI Personal Loan?

    Attractive Rate of Interest:

    State Bank of India charges very nominal interest rate for its personal loans making it one of the most popular banks when it comes to personal loan requirements. The interest charged by the State Bank of India is on a daily recurring balance basis thereby ensuring maximum benefit to the loan borrower.

    Timely Discounted Schemes:

    State Bank of India is one of the first banks to offer personal loans at discounted rates under various loan seasonal schemes at different festive seasons of the year. State Bank of India offers discounted schemes for individuals including government employees, doctors and other professionals.

    No Hidden Charges:

    State Bank of India is known for its transparency when it comes to charges and penalties for any personal loan. SBI personal loans come with absolutely no hidden charges and the transparent dealings makes it one of the preferred bank by millions of Indians.

    Zero Prepayment Penalty:

    State Bank of India offers a zero prepayment penalty allowing loan borrowers the freedom to prepay their loan as per their convenience. In case if the loan is being repaid before six months of the loan approval date, the bank charges 1% of the loan amount as prepayment charges.

    Quick Loan Approval:

    State Bank of India has streamlined its personal loan division in order to facilitate quick loan approval and disbursal, bringing it at par with international banks. SBI personal loans follow a quick approval mechanism for both urban and rural centers.

    Online Loan Submission:

    State Bank of India facilitates online loan submission making it easier for people to apply for personal loan from anywhere Users can apply for a personal loan sitting at the comforts of their home or office, without physically visiting a bank branch.

    Features of SBI Personal Loan

    SBI offers a number of benefits and features for its personal loans including low interest rates, minimal documentation and quick approval. SBI offers various discounted schemes for personal loans at various times in a year catering to a large section of both urban and rural population. Some of the prominent features of SBI personal loan include:

    High Quantum of Loan:

    State Bank of India offers a high quantum of personal loan making it one of the most preferred banks by a large number of people. State Bank of India offers a personal loan up to 12 times the net monthly income for salaried individuals and pensioners subject to a ceiling of Rs.10 Lakhs

    Low Interest Rates:

    State Bank of India offers attractive Personal Loan Interest Rates at daily reducing basis making it one of the best personal loan service providers in the country. Currently SBI personal loans are available at 8. 50% above base rate floating, currently 18.50% per annum. The bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion.

    Fast Processing:

    State Bank of India is a leading bank in India with branches in every nooks and corners of the country. The bank has streamlined its personal loan division allowing for quick localized loan approval and disbursal.

    Specialized Loan Schemes:

    State Bank of India offers personalized schemes at lucrative interest rates for various working professionals and salaried individuals from time to time. State Bank of India also offers discounted personal loan schemes during major festivals making it a popular choice for both rural and urban applicants during times of financial requirement.

    24/7 Customer Support:

    State Bank of India has a dedicated customer support helpline for its loan section allowing applicants and loan borrowers to get in touch with the bank for any queries or grievances in 24 hours a day.

    Different types of SBI Personal Loans

    The State Bank of India has long been known for providing personal loans for you that are designed to be easy for you to apply for and, most importantly, easy for you to pay back. SBI offers people four different types of personal loans that have to be tailored to suit individuals and their individual needs. So, without further ado, these are four of the personal loans that you can avail from SBI.

    Xpress Credit Personal Loan

    As the name suggests, this loan has been designed to get you cash when you need it in a hurry. The processing charges are low, there are no hidden charges and there is minimal documentation required. There arent any pre-payment charges either

    SBI Saral Personal Loan

    The SBI Saral Personal Loan is meant to provide people with the opportunity to have access to money for various things like payments for vacations, medical bills or even clearing financial liabilities. As long as the the applicant has a valid reason to apply for the loan, it might get approved subject to the banks terms and conditions. The processing charges will be anywhere between 2.02% to 3.03% of the loan amount.

    SBI Pension Loan / Jai Jawan Pension Loan

    This type of a personal loan is provided to pensioners who are drawing their pensions from the central or the state government. If you apply for this loan then you will have to pay a nominal processing fee and there will be no extra charges levied for early payments

    SBI Festival Personal Loan

    In case there is a festival coming up and your plans for celebrating it are threatened by a shortage of money you can go in for a Festival Loans

    SBI Personal Loan Interest Rate

    SBI Personal Loan products are offered at competitive interest rates, making SBI the most preferred lender in the market. The table below gives a snapshot of interest rates for various personal loan schemes offered by SBI.

    The 2 year MCLR is set at 9. 25% at present.

    Personal Loan Scheme Check Off Interest Rate
    Xpress Credit Full Check - Off(Category - 1) 330 - 380 bps above 2 year MCLRCurrently, 12. 55% to13. 05% per annum
    Partial Check - Off(Category - 2) 430 - 480 bps above 2 year MCLRCurrently, 13. 55% to14. 05% per annum
    No Check - Off(Category - 3) 530 - 580 bps above 2 year MCLRCurrently, 14. 55% to15. 05% per annum
    SBI Jai Jawan Pension Loan 4. 65% above 2 year MCLRCurrently, 13. 90% per annum
    SBI Saral Personal Loan 8. 40% above 2 year MCLR (floating interest rate)Currently, 17. 65% per annum
    SBI Bhagya Rekha Loan 1. 90% above 2 year MCLRCurrently, 11. 15% per annum
    SBI Pension Loans 3. 80% above 2 year MCLRCurrently, 13. 05% per annum
    SBI Clean Overdraft 7. 40% above 2 year MCLRCurrently, 16. 65% per annum
    SBI Festival Loan Scheme 6. 65% above 2 year MCLRCurrently, 15. 90% per annum
    SBI Education Plus Loan Scheme 4. 40% above 2 year MCLRCurrently, 13. 65% per annum
    View MoreLess

    SBI Personal Loan Eligibility

    State Bank of India offers personal loans to all applicants fulfilling the basic eligibility criteria. State Bank of India personal loans are available to all salaried individuals of good quality corporate as well as self employed individuals and working professionals including engineers, doctors, architects, chartered accountants and MBAs with a minimum 2 years of standing period.

    SBI Xpress Credit Personal Loan Eligibility

    • Net Monthly Income must be at least Rs. 7,500 per month
    • The applicants EMI/NMI (Equated Monthly Instalments / Net Monthly Income) ratio must not exceed 50

    SBI Saral Personal Loan Eligibility

    If you fall into any of the following categories then you can apply for this personal loan.

    • Self employed engineer
    • Doctor
    • MBA grad with a minimum of 2 years worth of experience
    • Chartered Accountant
    • Architect

    SBI Pension Loan / Jai Jawan Pension Loan Eligibility

    • The person applying for the pension loan must not be over 76 years of age
    • The person must be drawing a pension from the central or state governments and have his/her pension account with SBI
    • If the family pensioner is the spouse of a pensioner who is authorised to receive the pension then they too must not be over 76 years of age.

    SBI Festival Personal Loan Eligibility

    • Government employees or those working for PSUs or even private or public institutions/establishments are eligible for this loan as long as they have a minimum of 2 years of service.
    • If the applicant is self-employed then a minimum of 3 years of experience is a must
    • In case the applicant does not meet the first condition then they can be eligible if they have a verifiable source of regular income like pension or interest from TDR or NSC or Govt Securities.
    • The applicant must have a net monthly income of Rs.3000 or more
    • If the applicant wants the spouses income also to be considered then the spouse should guarantee the loan or turn it into a joint loan.

    Eligibility Criteria for Salaried Individuals

    Age Minimum: 21 Years Maximum: 58 Years
    Minimum Income Salaried individuals with minimum monthly income Rs.5000
    Total years in job/profession 2 Years
    Years in current residence 1 Year

    Eligibility Criteria for Self Employed Individuals and Working Professionals:

    Age Minimum: 21 Years Maximum: 65 Years
    Minimum Income Self Employed individuals or working professionals earning a minimum of Rs. 7000 per month
    Total years in Profession 2 Years

    How to Calculate EMI for SBI Personal Loan offers users a unique Personal Loan EMI Calculator to calculate EMI's. It helps the users to get an idea of the loan liability beforehand and apply for an affordable loan. Users simply need to type the loan amount they wish to apply or as per their eligibility, choose a loan tenure and rate of interest. The EMI calculator instantly calculates and displays the EMI liability for the loan.

    SBI Personal Loan for Government Employees

    The Xpress Credit Personal Loan is a loan facility offered by SBI to employees working in Central and State Government, Quasi Government, Central PSUs, State PSUs etc. It offers low interest rates and the interest is charged on a daily reducing balance. It has no processing fees or hidden administrative charges. It doesn’t require collaterals and is also free from prepayment penalties.

    Features of the loan

    Minimum Net Monthly Income (NMI) Rs.7500
    EMI to Net Monthly Income ratio Should not exceed 50
    Minimum term loan amount Rs.24,000
    Maximum term loan amount 24 times NMI subject to maximum of Rs.15,00,000
    Minimum overdraft amount Rs.10,00,000
    Maximum overdraft amount 24 times NMI subject to maximum of Rs.15,00,000
    Minimum repayment period 6 months
    Maximum repayment period 60 months`
    Security Not required
    Third party guarantee Not required
    Processing fees 1.01% of the loan amount plus GST
    View MoreLess

    SBI Personal Loan for NRI

    NRI customers can create an overdraft account against the NRE or NRO fixed deposits using the internet banking facility. Joint deposits are not eligible for the scheme. Refer to the below table for the features of this scheme:

    Eligibility Available only for customers with NRE/NRO fixed deposits
    Minimum loan amount Rs.25,000
    Maximum loan amount Rs.5 crores
    Rate of interest payable 1% above the interest payable on fixed deposit
    Loan Tenure
    • For TDR/eTDR it’s 3 years or the remaining maturity period of the fixed deposit
    • For STDR or eSTDR it’s 5 years or the remaining maturity period of the fixed deposit

    To create an overdraft account, follow the below steps:

    • Login to the INB account and select the ‘e-fixed deposit’ tab
    • Click on ‘Overdraft against Fixed Deposit’
    • Select the type of deposit and proceed
    Personal Loan Offers

    SBI Personal Loan Procedure

    SBI offers personal loans depending on your income and repayment capacity. It’s sanctioned without any security and margin amount. Once sanctioned, the amount will be disbursed within 3 working days’ time. Salaried individuals can apply for the loan through Form 16 and along with other important documents such as salary slip, address proof, etc. For self-employed individuals, the required documents include latest bank statement, latest ITR or Form 16, residence proof, etc. Since the personal loan is offered without any collateral, the interest charged will be comparatively higher than the loans where collaterals are required. The loan comes with a repayment period of 48 months and has a processing fee of 2% to 3% of the loan amount.

    SBI Personal Loan FAQs

    • Am I eligible for SBI personal loan?

      SBI offers personal loans only for salaried individuals earning more than the minimum stipulated amount per month depending on the city of their residence. The minimum monthly income required for SBI personal loan is Rs. 24,000 per month. If you fall into this group, you can definitely apply for a SBI personal loan.

    • How do I repay SBI Personal loan?

      You can repay the loan in Equated Monthly Installments (EMI's) using the ECS facility or through post-dated cheques.

    • What is the maximum loan one can get from SBI?

      SBI offers personal loans as high as Rs. 10 Lakhs/12 times Net Monthly Incomefor successful applicants depending on their financial record and repayment history.

    • What is the tenure for SBI personal loan?

      SBI offers personal loan with a tenure period 48 months making it suitable for all loan seekers.

    • How many personal loan products does SBI offer?

      SBI offers a number of personal loan products, with individuals having an option to choose between the following.

      • SBI Saral Personal Loan
      • Festival Loans
      • Xpress Credit Personal Loan
      • Loans to pensioners
    • What is the maximum loan amount one can get under the SBI Saral Personal Loan scheme?

      The maximum loan amount which can be availed under this scheme depends on the salary of an applicant, with an upper limit of Rs 10 lakhs.

    • Is there a minimum loan amount mentioned by SBI for its Saral personal loan?

      Yes, the minimum loan amount for SBI Saral personal loan depends on the demographics of a borrower, with the limit set at Rs 24,000 for borrowers from metro and urban areas and Rs 10,000 for borrowers from semi urban or rural backgrounds.

    • Is there a facility to apply for a SBI personal loan online?

      Yes, individuals can apply for a SBI personal loan through the internet by logging onto the official website of SBI and choosing the type of loan they require. One is expected to provide certain information like name, address, and contact details, purpose of loan, work details and date of birth in order to process this online application.

    • Is it necessary to provide income details while applying for a SBI personal loan?

      Yes, it is mandatory for an individual to provide his/her income details in the application form. This information is used by SBI to determine the amount an individual is eligible for and to gauge his/her repayment capacity. These income proofs could be salary slips or bank transactions.

    • Can an applicant combine the income from multiple sources while applying for a SBI personal loan?

      An applicant can combine his/her income with the income of her/his spouse, thereby increasing his/her chance of getting a higher loan amount.

    • What is the processing fee charged by SBI on its Saral personal loans?

      SBI charges a processing fee ranging between 2.02% and 3.03% of the loan amount, with this fee deducted from the amount before it is handed over to a borrower.

    • What is the loan repayment tenure of a SBI Saral personal loan?

      SBI Saral personal loan can be repaid through EMIs, with a maximum repayment period of 4 years. A borrower can choose to completely repay the loan amount before this tenor ends.

    • Is it possible for a borrower to prepay his/her loan? If so, are there any additional charges involved?

      Yes, SBI provides an option for borrowers to prepay the loan. Such prepayment does not incur any additional charges or penalties.

    • How can a borrower get in touch with SBI if he/she has queries regarding a personal loan?

      Individuals can contact SBI officials by calling on any of their customer care helpline numbers or by writing to their grievance cell, which is present in all local SBI head offices.

    *This article is provided only for consumer information on an as is where is basis and BankBazaar does not claim or represent to be connected with SBI. For further information about any of the products mentioned above please contact SBI.

    Personal Loan charges you should know about

    Keep an eye out for the below additional charges associated with Personal Loans before you opt for one. If you already know about them, you can check out our offers straightaway.

    If You Want It, Pay For It

    Processing fees are generally 1-2% of the loan amount or a flat fee. Most financial institutions ask for a processing fee for their Personal Loan.

    Early Bird Fees

    Want to pay back some of your loan early? Be prepared to pay a prepayment penalty. In fact, some banks don’t allow prepayment for a fixed period.

    Latecomer Fees

    Uh-oh, late with your payment? Not paying on time can attract a late-payment fee.

    Don’t Want To Pay Extra?

    If you’re worried about these charges, don’t be. Have a conversation with your bank. Some banks have lower charges and some may remove the charge entirely. 

    Always compare loans across different banks and pick one that gives you the best deal. Try us!

    The Finance Mega Mela is on from 1st Feb - 28thFeb, 2017! Get Amazon vouchers* worth up to Rs. 1,000 on bank approval/ disbursal for Personal Loan

    News About SBI Personal Loan

    • SBI to Be Merged With Its Associates within This Financial Year

      In a bank conference held by the Confederation of Indian Industry (CII) in Kolkata, Rajnish Kumar, Managing Director of National Banking Group stated that State Bank of India will be merged with its associates within this fiscal year. He further stated that consolidating the balance sheet of SBI and its associate is not very difficult as both use the same IT portal to save financial data. However, implementing common HR policies and practices may take time and attention. He added that SBI has made two mergers before and they are aware of the merging process.

      20th September 2016

    • The Cabinet has approved the merger of SBI associates

      The Cabinet has given the in-principle approval to State Bank of India to merge five of its associate banks. This has been announced one month after the SBI boards clearance was got. SBI would be merging Bharatiya Mahila Bank and five more associate banks soon. After the merger, State Bank of Indias network would increase drastically. After the merger, SBI would feature in the worlds top 50 banks, carrying an asset value of $550 billion. The five associate banks that would be merged are State Bank of Mysore (SBM), State Bank of Bikaner and Jaipur (SBB&J), State Bank of Patiala, State Bank of Travancore (SBT) and State Bank of Hyderabad (SBH).

      17th June 2016

    • SBI named Domestic Systemically Important Bank (D-SIB)

      The RBI named SBI and ICICI Bank D-SIBs i.e. Domestic Systemically Important Banks. By virtue of this entitlement, both banks will fall under a more rigid risk framework that aims to prevent major fallouts in either banks operations. These banks have been so classified considering their impact on the countrys banking system as a whole.

      Given the magnitude and complexity of their business in terms of reach, customer bases, products and services offered, market shares and a number of other salient factors, the central bank ascertained SBI and ICICI Bank as integral to the countrys banking domain. As market leaders, any fallouts on the part of these banks is estimated to have a meaningful and material impact on other players in the industry.

      State-owned SBI is the countrys largest and leading lender with a loan book comprising of retail loans ranging from home loans, personal loans, car loans, business and corporate loans among others. ICICI Bank, the countrys largest private sector bank, also boasts a large loan-customer base with similar offerings.

      3rd September 2015

    • SBI actively handles customer queries on social media

      Government owned State Bank of India is most active on social media and address the customer complaints and queries as per the report released by Simplify 360. The report analysed 9 banks which collected all the mentions of all the 9 banks on Twitter and Facebook.

      SBI replied to 41 per cent of the queries. SBI has a little over 2 lakh followers on Twitter and is most active with 3 posts per day on Facebook.

      The report took into consideration the social media interaction from June 13 to June 28. The 9 banks included were SBI, HDFC Bank, Yes Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Citibank, IDBI Bank and Standard Chartered Bank.

      15th July 2015

    • A Possible Merger: State Bank of India (SBI) and Bharatiya Mahila Bank (BMB)

      Bharatiya Mahila Bank (BMB), a UPA-led initiative taken in the year 2013, might undergo a possible merger with State Bank of India (SBI). Reportedly, a proposal is being considered and discussions are in progress but a concrete decision is yet to be taken.

      While SBI itself hasnt confirmed on anything official, talks are already on in the Finance Ministry. About 20 months old, BMB is a relatively small bank with 62 branches, Rs. 1000 crore capital, a speculated loan book of Rs. 200 crore and zero non-performing assets. Taking this into account, consideration of a merger with SBI isnt actually rocket science. Adding on to the news, reports are in about BMBs Chairman and MD Usha Ananthasubramanian attending interviews conducted for selection of managing directors and chief executives of public sector banks.

      As of July, 2014, suggestions for consolidation of state-run banks were to be welcomed by Finance Minister Arun Jaitley. But even with all these facts, only presumptions can be made till something conclusive trickles down from the Finance Ministry.

      2nd July 2015

    • SBI ropes in advisor to improve its stagnant SME Business

      The countrys biggest bank SBI has realised that its SME business has been stagnating for the past 3 years and accounted only for 13.56% of the banks loan portfolio. To correct the situation it has decided to take the help of advisors to help it do so. Their decisions also includes the decision to reduce their balance sheet finance portfolio.

      The banks representatives claimed that they intended to take advantage of the improvement in the economy and use that to drive their SME business. They are also seeing favourable signs in the e-commerce sector since it has seen good growth and lots of new players recently. They are also planning to target offline industries like franchises from the beauty health and food industries.

      26th June 2015

    • Baa3 Rating for SBI by Moodis

      State Bank of India has managed to hold on to its Baa3 rating for local and foreign currency deposits, indicating a positive outlook for the bank. Moodys the global rating agency retained the Baa3 rating in spite of certain doubts cast over the banks performance. The present ratings are a reflection of the moderate macro profile in India and the standalone financial profile of the bank. The deteriorating asset quality of the bank due to corporate exposure have not dented its image in the eyes of Moodys.

      State Bank of India also retained the Baa3 rating for its senior unsecured medium-term note programme and for the senior unsecured debt issued through its branch in London. Moodys changed the Baseline Credit Assessment of State Bank of India to Ba1.

      The Counter-Party Risk Assessment of SBI and its branches was also rated Baa3 / P-3 by Moodys. SBI also received a very high probability of support in the unforeseen event of financial distress, stemming from the fact that the bank is extremely important in the domestic circuit and also partly because the government owns a 59.2% stake in the bank.

      24th June 2015

    • SBI launches online loan application platform

      State Bank of India, the countrys apex bank has launched an online platform for filing of loan applications. Customers can now know their eligibility and get personalized loan quotes by applying online for all kinds of loans like home, car, education and personal loans.

      This move has been made for easing the application process for customers and also for reducing the loan processing time taken by the bank. Customers can upload relevant documents online, after which their loan will get an instant e-approval. Once this step is achieved, bank officials will get in touch with customers for completion of loan formalities.

      SBI will soon launch a similar application on the mobile platform too.

      2nd June 2015

    • SBI enhances digital presence with new tie-ups

      In a bid to enhance their online presence, SBI has signed an MOU with e-tailer Amazon. The tie-up is aimed at creating viable payment solutions. This move is expected to add value to both small and medium businesses as well as retail customers.

      Additionally, SBI will try to promote business of SMEs by providing loans to expand their business. If possible, SBI might channels its products through Amazon, further bridging the gap between its growing online customer base and its online offerings.

      In keeping with its overall strategy to strengthen its products and services technologically, the bank launched its contactless cards viz. its debit cards and the SBI Signature credit card.

      27th May 2015

    • SBI Offers Personal Loans at Home Loan Interest Rates

      There is good news for SBI customers who have already taken a home loan from SBI. They are now being offered personal and top-up loans at the same interest rates as they are paying for the home loans. The offer is, of-course, subject to conditions like customers should have been regular with the payments of their home loans. This means that top-up loans between Rs. 2 crore and Rs. 5 crore will have rates of 11.25% while loans between Rs. 2 crore and Rs. 10 crore will have interest rates of 10.75%.

      Under the current personal loan interest rates issued by SBI, borrowers can take the personal loan at a rate of 13% to 18.5% but under the new promotional scheme they may pay as little as just 10.15% interest. The bank has also announced that women will get a slightly reduced interest rate of 10.10%. The news is even more welcome because even though the RBI has announced cuts in interest rates most banks are reluctant to cut their lending rate. They are citing dire effects on their bottom lines because of a reduction in borrowing as the reason for not reducing the interest rates.

      13th March 2015

     Loading your search... Loading your search...
  • SBI Personal Loan Reviews

    • SBI Personal Loan
      0.5 5.0/5 "Blown Away!"
      I have taken a personal loan from State Bank of India and the process for it was smooth. I did not have much of a documentation process and also I did not get the loan on time. The rate of interest and processing charges were very much normal too. But on the other hand, after loan services were very much hassle free.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 20, 2017
    • SBI Personal Loan
      "Improvement needed in service"
      0.5 5.0/5 "Blown Away!"
      The personal loan process need to be quick and fast with SBI. The customer service and the response need to be focused a lot. They are talking too much of time to disburse the personal loan. They took around 10 to 15 days of time to disburse my loan and they call it as express in disbursing the loan. As I hold a salary account with SBI they have offered me with low interest rate.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2017
    • SBI Personal Loan
      "Be Helpful"
      0.5 3.0/5 "Satisfactory"
      Once I made an inquiry with SBI for the personal loan. Actually I am a long term customer of SBI, I hold salary account with them for 6 years. So I approached the same bank for the loan, but they asked me three questions and they said that they are unable to provide the loan. So I am not happy with SBI.
      Was this review helpful? 0
      , jamshedpur
      Reviewed on Jul 13, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I took a personal loan from SBI, they took only 5 days for the disbursement. Rate of interest charged was 11.5% and processing fee was niL. My salary account is with SBI so there were no issues with the documentation process and the EMI was around 11k approximately.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      Had a great experience of availing a personal loan from SBI couple of years ago. Documentation part was very simple and the processing of the loan was completed in just 4 days. Rate of interest was 11% & processing fees were NIL the loan amount I had taken is 2.50 lakhs at that time I had taken and this was for a tenure of 5 years.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Very poor"
      0.5 1.0/5 "Really Bad"
      I had taken a personal loan from SBI and they were very slow in the process. I did not have a problem with the bank but they have taken 15 to 20 days to disburse my loan amount the rate of interest they have offered me is 14% they have charged any processing fee also and the EMI I payed around 9000 rupees and I have pre closed this loan
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      Personal loan process was really smooth. I got a loan of 5.7 lakhs and I am happy that State bank of India is supportive when ever I approach them. The interest rate offered was 12.40% and the processing fees was nil . The after loan services are hassle free I have taken this loan for five years and the loan got disbursed with in a span of 4 days of time.
      Was this review helpful? 0
      , belgaum
      Reviewed on Jul 12, 2017
    • SBI Personal Loan
      0.5 5.0/5 "Blown Away!"
      I have a earlier experience for a personal loan with State Bank of India. The customer services are good and the process was smooth. The rate of interest and processing charges was normal. I had no hassles with the after loan services too. Overall good.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 11, 2017
    • SBI Personal Loan
      "Perfect service"
      0.5 5.0/5 "Blown Away!"
      I had a personal loan experience with State Bank of India last year. They took around 7 days to disburse my personal loan . The required loan amount has been given and I am satisfied with it. The rate of interest is low, when compared with other banks.
      Was this review helpful? 0
      , bathinda
      Reviewed on Jul 10, 2017
    • SBI Personal Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      The service provided by State Bank of India was really good based on the personal loan application being submitted I had taken this loan long back before eight years the rate of interest was minimum and there was processing charges as well
      Was this review helpful? 0
      , korba
      Reviewed on Jul 10, 2017
    • SBI Personal Loan
      "Satifactory service"
      0.5 3.0/5 "Satisfactory"
      Processing fee is very less with the SBI, when it comes to personal loan, also the rate of interest is 14% very less. Customer service is very good one with them, and the loan mount I applied for 4 to 5 lakhs. I am holding this account got more them 5 years of time.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jul 09, 2017
    • SBI Personal Loan
      "Better Response"
      0.5 3.0/5 "Satisfactory"
      Three years ago I had taken the personal loan from SBI and I had completed the loan as well. The interest rate is 15% and they done with the process in four to five days. Even they had sanctioned the loan on time. But the response and customer service is not up to the mark. If everything is fine to proceed with the loan then they respond well to the customers otherwise they would reply back.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Jul 05, 2017
    • SBI Personal Loan
      "Not Helpful"
      0.5 1.0/5 "Really Bad"
      State bank of India is not helpful for me when I approached them for the personal loan. I had applied for the loan but I did not get proper response from the bank. They did not process my loan application. So I am not happy with SBI.
      Was this review helpful? 1
      , burdwan
      Reviewed on Jul 03, 2017
    • SBI Personal Loan
      "Very good services"
      0.5 5.0/5 "Blown Away!"
      The personal loan process was smooth at State Bank of India. I did not have a problem with the paper work as it was normal. The interest rate and processing charges is reasonable and I got the funds without any kind of delay. Overall the bank is doing well in the services.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 30, 2017
    • SBI Personal Loan
      "Good Bank"
      0.5 5.0/5 "Blown Away!"
      State bank of India offered the personal loan for the amount of four lakhs. Interest rate was 14%. SBI processed the loan properly and they sanctioned the loan on time without any challenges. I am happy with the bank for the loan I received. They provide good customer service.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Best Service"
      0.5 3.0/5 "Satisfactory"
      The savings interest is average with state bank of India Infact they have decreased it at present. I am holding this SBI savings account for past 7 years. I use net banking with Sbi, which is easy to use and they need to make more customer friendly. I would say it is a good account to use.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Good Bank for Loans"
      0.5 5.0/5 "Blown Away!"
      About five years back I had received personal loan from SBI in a form of preapproved loan. Interest rate was very low which is around 10% and the documentation part was very simple and I never struggled to produce the documents. And the interesting fact is, the bank credited the loan within seven days to my account.
      Was this review helpful? 0
      , madurai
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Always the best"
      0.5 4.5/5 "Excellent!"
      I have taken a personal loan on many occasions from State Bank of India. Every time I approached the bank they were very much responsive and they have processed my application quickly and the loan got disbursement on time and as needed. The deal on the interest rate and charges were very much normal too.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jun 22, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I am having a very good experience with SBI while I have just placed the inquiry for personal loan.The service provided was excellent and the loan amount is not yet disbursed but apart from that The interest rate offered was around 11.90% and I felt it was a average rate offered and the loan amount I have opted for 5 lakhs rupees
      Was this review helpful? 1
      , rohtak
      Reviewed on Jun 17, 2017
    • SBI Personal Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I had taken the personal loan from State bank of India with an interest rate of 14.1% with no processing fee. The loan process was good with SBI and they promptly done with the loan and disbursed it without any hassles. I do hold salary account with the same bank.
      Was this review helpful? 0
      , kolkata
      Reviewed on Jun 16, 2017
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.