|SBH Personal Loan Interest Rates 2018|
|Interest rate||14.70% to 16.75% p.a.||14.70% to 16.75% p.a.|
|Loan Amount||Rs.25,000 to Rs.7.5 lakhs||Rs.25,000 to Rs.7.5 lakhs|
|Loan Tenure||Up to 3 years||Up to 3 years|
|Lowest EMI||Rs.3,451 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate).||Rs.3,451 (for Rs.1 lakh loan amount with maximum loan tenure at the lowest interest rate).|
|Processing Fee||1% of the advance amount with a minimum of Rs.1000.||1% of the advance amount with a minimum of Rs.1000.|
|Age||21 to 55 years||21 to 55 years|
State Bank of Hyderabad offers unsecured personal loan to individuals and resident individual Indian. SBH offers personal loan to the permanent employees of the state, central & semi government, PSUs and employees of private sector companies. The borrower has to submit a security to avail SBH Personal Loan. If the check off facility is not available, post-dated cheques have to be submitted to the bank.
State Bank of Hyderabad personal loan interest rates depends the borrower’s on income, borrower’s credit history, the RBI rates, inflation etc. State Bank of Hyderabad personal loan interest rate for the year 2015 is provided at the discretion of the bank but the base rate is 9.95 percent. The interest rates is offered in such a way that the borrower is not burdened with the EMI payment.
EMI or Equated Monthly Instalment is the amount that the borrower has to pay to the bank each month towards the payment of interest and the principal loan amount. The principal amount and interest is divided by the tenure that the loan was taken for. The formula to calculate the EMI is:
EMI= Principal X Rate of interest on a monthly basis X (1+rate of interest on a monthly basis) to the power of the loan tenure divided by [(1+rate of interest on a monthly basis) to the power of the loan tenure – 1]
BankBazaar.com makes the EMI calculation easy through the free online EMI Calculator. It gives you the amortization table that contains details of how much of the EMI amount is going towards the principal amount payment and how much of it covers the interest amount. For example, Mr. John has taken a personal loan for Rs.1 lakh from State Bank of Hyderabad. The interest rate he is being offered is 9.95 percent for a tenure of 3 years. By the end of the third year, he would have paid Rs.16,077 towards total interest and his loan EMI is Rs.3,224. He will be paying 13.9 percent towards the interest and 86.1 percent towards the principal loan amount. His amortization table will look as follows:
|Year||Principal paid (Rs.)||Interest paid (Rs.)||Balance amount (Rs.)|
State Bank of Hyderabad personal loan interest rate varies for every applicant due to the following factors:
If the loan tenure is short, the interest rate is high when compared to loans with a longer tenure.
State Bank of Hyderabad checks a person’s repayment capacity before offering him a loan and before deciding the interest rate. The bank will make sure that the EMI amount will not exceed 35 percent of the borrower’s income is up to Rs.3 lakhs and if the borrower's income is above Rs.3 lakhs to Rs.5 lakhs, then the bank ensures that the EMI amount doesn’t exceed 50 percent of his income. If the borrower’s income is above Rs.5 lakhs, the bank will make sure that the EMI amount does not exceed more than 60 percent of his income. The bank also looks into the borrower’s assets and his creditworthiness before finalising on an interest rate.
Young applicants are not so stable at their job and banks usually stay away from people who do not have a constant flow of income. State Bank of Hyderabad offers personal to permanent employees of the state, central & semi government, PSUs and employees of private sector companies.
You may even get a discount on the processing charges or might get a reduced interest rate if you have been having a good long term relationship with the State Bank of Hyderabad.
The interest rates and processing charges are charged at the sole discretion of the bank and are subject to change.
Before applying for a Personal Loan, you must know the following factors:
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.