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    State Bank of Hyderabad Personal Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    15.25% - 15.75% Floating
    1% (min. ₹1000) One time fee
    25,000 - 7.5L
    1-3 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria

    State Bank of Hyderabad Personal Loan is Rated as "Great!" by 15 Users

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    Personal Loan BYTES FROM OUR KITCHEN

    State Bank of Hyderabad is an associate bank of State Bank of India (SBI), and is one of the scheduled banks in India. The Bank's head office is situated at Gunfoundry Area, in Hyderabad, India. SBH has over 1,500 branches and about 12,800 employees. Bank is now the largest Associate Bank of State Bank of India. SBH has 1000 branches in Andhra Pradesh alone, giving it the third largest branch network in the state. The bank has performed well in the past decades, winning several awards for its banking practices. SBH providing general purpose loan (Personal loan) to individuals with a steady source of income. Continue reading to view more details about this loan.


    You’re probably eligible for an State Bank of Hyderabad Personal Loan if you are

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    State Bank of Hyderabad Personal Loan Minimum Age

    At least 21 years old

    State Bank of Hyderabad Personal Loan Maximum Age

    Less than 55 years old

    State Bank of Hyderabad Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    State Bank of Hyderabad Personal Loan Minimum Income

    Earn more than the minimum
    income required


    Your State Bank of Hyderabad Personal Loan amount eligibility is based on these factors

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    State Bank of Hyderabad Personal Loan Minimum Salary

    Salaried with Regular Income

    State Bank of Hyderabad Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 7.5 lakhs

    State Bank of Hyderabad Personal Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible State Bank of Hyderabad Personal Loan amount by these steps

    01
    02
    State Bank of Hyderabad Personal Loan Payoff Outstanding Credit Card Bills

    Pay off your Credit Card bills

    “State

    Choose longer tenure loan up to 36 months


    Documentation needed to apply for an State Bank of Hyderabad Personal Loan

    • 1. Signed application form with photograph
    • 2. Copy of passport/voter ID card/driving license
    • 3. Processing fee cheque
    • 4. Last 3 months bank statement/6 months bank passbook
    • 5. Documentation for salaried applicants:
      • Latest salary slip
      • Current dated salary certificate with the latest Form 16
    • 6. Documentation for self-employed applicants:

      • Latest Bank statement
      • Latest ITR or Form 16

    State Bank of Hyderabad Personal Loan Interest RatesUpdated on 11 Dec 2016

    State Bank of Hyderabad Personal Loan Details
    Interest Rate 15.25% to 15.75%
    Base Rate - 9.75%
    Processing Fees 1% of the advance subject to a min Rs.1000
    Loan Tenure 36 months

    About SBH Personal Loan:

    SBH stands for State Bank of Hyderabad. The bank was established in 1941 as Hyderabad State Bank. In 1956, SBH had been taken over by the Reserve Bank of India as its first subsidiary bank, and its name was changed from Hyderabad State Bank to State Bank of Hyderabad. Headquartered at Gunfoundry, Hyderabad, SBH has a huge network with 500 branches and almost 12,800 employees. The bank has been awarded with many honors for its excellent customer service. The bank constantly strives to be the most preferred and trusted bank in India and by now, State Bank of Hyderabad is the largest Associate Bank of State Bank of India. SBH provide personal banking, MSME (Micro, Small and Medium Enterprises) banking, corporate banking, Agriculture banking, NRI banking etc. Apart from providing car loan, home loan, gold loan, educational loan, SBH also provides Personal Loan to fulfill your various requirements. SBH provides two types of personal loans— Personal Loan Unsecured and SBH Prashanti Scheme. Under SBH Prashanti Scheme, personal loans are provided to pensioners, family pensioners, pensioners who are aged 70 years and above, and affluent pensioners.

    SBH Personal Loan Features:

    SBH personal loan features include:

    • 1% processing fee for SBH Personal Unsecured loan which is subject to a minimum of Rs. 1000.
    • For SBH Prashanti Scheme, processing fee is Rs. 500.
    • Can be availed by both salaried and self-employed individuals.
    • No pre-payment charge is required.
    • You can repay this loan in 36 EMIs.
    • You can get personal loan up to Rs. 5 lakhs and above 5 lakhs depending on your eligibility and repayment capacity.
    • Security is required.
    • It is a personal loan on demand.
    • Repayment through EMI is available.

    Why Choose SBH Personal Loan:

    SBH offers general purpose unsecured personal loan for Indian resident individuals. The loan amount received under Personal Loan from SBH can be used for any genuine needs that you might be having like funding vacations, children’s education, home renovation or repairs etc. The bank offers a considerable amount of personal loan at low processing fees. Also, SBH takes care of the various needs of the pensioners, and offers personal loans to pay for their medical expenses, children’s marriage etc.

    Personal Loan Eligibility criteria differs from person to person at SBH.

    Your minimum age should 21 years to apply for this loan. Your maximum age should not be more than 55 years. The eligibility criteria for SBH Personal Unsecured Loan is divided into two categories: Category 1 and Category 2.

    Category 1: The employees of State, Central, Semi-Government and profit making PSUs belong to this category. They need to serve a minimum of three years in their present organization.

    Category 2: The employees of Private Sector Companies belong to this category. They should have a rating of at least 1 to 3 with SBH, and minimum three years of service experience with their present organization.

    The eligibility criteria for SBH Prashanti Scheme include:

    • This loan can be availed by all pensioners including family pensioners, pensioners who are aged 70 years and above, and affluent pensioners.
    • They need to be State and Central Government employees including Defense, Railways and Telecom Department or Bank employees.
    • Their Pension Accounts need to be maintained with SBH.

    SBH provides unsecured loans which can be used for multiple purposes, with the interest on these loans computed on the basis of either the base rate or MCLR. These benchmarks help the bank formulate a rate list, with interest varying with any changes in the benchmark.

    State Bank of Hyderabad Marginal Cost of Funds Based Lending Rate (MCLR) (For new borrowers)

    Borrowers who have availed a loan after April 1, 2016 will automatically be charged an interest computed on the basis of MCLR. This follows a new rule by the RBI, with all banks expected to modify rates with changing economic conditions. The current MCLR benchmark is highlighted in the table below.

    MCLR Benchmark Tenure (Period) Benchmark Rates (MCLR)
    Overnight 9.15%
    1 month 9.35%
    3 months 9.45%
    6 months 9.50%
    1 year 9.60%

    Personal loan interest rates (MCLR)

    MCLR acts as a benchmark for SBH to figure the rate it can charge, but the final rate is determined after computing other factors, including the loan amount, purpose, repayment tenure, etc. SBH can choose to add a certain percentage over and above the MCLR, with the final interest ranging between 12% and 15% (tentative).

    State Bank of Hyderabad Base Lending Rate (For existing borrowers)

    Base Rate 9.75%, effective October 8, 2015

    State Bank of Hyderabad personal loan interest rate (Base Rate)

    Customers who availed a personal loan from SBH before MCLR benchmarks were introduced can either migrate to the new platform or continue paying the current interest. Those who choose to stay with the old system will be charged an interest keeping the base rate in mind. SBH can choose to add a certain percentage over and above the base rate, with the final interest changing from case to case.

    Note: Rates mentioned above are as of June 15, 2016, and are subject to change without prior intimation. SBH reserves the right to alter these rates at its own discretion and borrowers should check the same before applying.

    Instead of communicating personally with State Bank of Hyderabad, you can approach BankBazaar – India’s largest online portal where you can compare, choose and get personalized quotes on various financial products like credit cards, loans and insurance. The company has a good connection with many leading banks like HDFC Bank and ICICI Bank in India. It can help you choose a perfect personal loan scheme based on your requirements and suitable interest rates. BankBazaar enables you to enjoy the following benefits:

    Quick eligibility check: At BankBazaar, you can check your eligibility for personal loan instantly by putting your personal and financial details on the website.

    Get best offers: You can shop numerous financial products like credit cards, loans and insurance at BankBazaar and get the best deal. Also, you can avail the best offers given by various banks on various products.

    Immediate approval: If you apply through BankBazaar, you can get instant approval on your loan application. It’s helpful and experienced team will help you to get your personal loan processed in less time.

    Tailored quotes: You can get personalized quotes on a specific product that you might want to buy, compare them, and pick up one among them based on your requirement and repayment capacity

    Privacy: Your privacy remains intact at BankBazaar. It does not reveal your personal and financial information to anybody. There is no third party involved in this process and your application directly goes to your select lender. Also, the company maintains complete transparency in the whole process.

    Get online updates: You can get updates on your personal loan application online. BankBazaar will keep you updated with SMS or Emails.

    Enjoy a hassle-free banking experience: With BankBazaar, you can be assured of a hassle-free banking experience. Here, you don’t have to do any paperwork to apply for any products, be it a personal loan or a home loan. Also, you don’t have to visit SBH personally to get your loan application approved. Everything will be taken care of by the proactive team of BankBazaar

    How to apply for SBH Personal Loan at BankBazaar.com?

    The process for applying for loans offered at BankBazaar is indeed very simple and instant. In fact, it is a matter of few clicks on the website. So, instead of visiting a bank physically, you can come directly to BankBazaar and apply online. The following steps will help you to better understand the process:

    • First decide which personal loan you are going to take.
    • Now, check whether you are eligible for that loan or not. You can do this by putting your personal and financial details on the website. This will help you to receive instant and personalized quotes based on your eligibility.
    • Among a number of quotes, you can choose a personal loan based on your necessity, if you have already decided.
    • Once, everything is finalized, you need to click on the “submit” button. This will take your application directly to the chosen bank.

    BankBazaar sends your application directly to the lender. Hence, there is hardly any delay involved in this process. Besides, it sends the application to your nearest branch so that it becomes easier for the bank people to contact you soon.

    How to calculate EMI for SBH Personal Loans?

    BankBazaar has an easy tool for calculating Personal Loan EMIs which provides you accurate information about your monthly EMIs. You can know your EMI amount instantly by putting the following information in the tool:

    • Selected loan amount
    • Loan tenure.
    • Processing fee ( if applicable)
    • Rate of interest on the loan.

    Once you fill the above details, the EMI calculator will immediately display your EMI accountability for the personal loan. Knowing your monthly EMIs is important as it may help you to plan your budget as well as set your future financial goals.

    • Yes, you are completely secured if you apply for loans through BankBazaar. The company will not disclose your personal information to anyone. Your application will directly reach your lender. There is no third party involved in this process.
    1. Why do I need a personal loan?

      A personal loan can be useful when you are running short of money or you don’t any savings in your account to fulfill your needs. You can accomplish a lot of works such as home repairing, children’s education, and vacation planning etc. with help of a personal loan.

    2. What is the maximum amount of personal loan offered by SBH?

      SBH offers personal loan up to Rs. 5 lakhs and in some cases, above Rs.5 lakhs subject to your eligibility and repayment capacity.

    3. Does SBH charge any pre-payment charge for personal loan?

      No, SBH doesn’t charge pre-payment fees for its personal loans.

    4. Does SBH personal loan require any security?

      Yes, you need to provide security to obtain an SBH personal loan.

    5. Is it possible to check my SBH personal loan status online?

      If you do not get the desired information online, the status of the loan can be learnt by contacting the bank.

    6. Where do I get SBH application form for personal loan?

      You download it from the SBH website or collect it from the bank-branch.

    7. Can I get my SBH personal loan statement online?

      Yes, you can get your SBH personal loan statement online from SBH website.

    8. Does SBH charge any processing fee for personal loan?

      Yes, SBH charges an amount of 1% for SBH Personal Unsecured loan and Rs. 500 for SBH Prashanti Scheme.

    9. How can I apply for a personal loan from State Bank of Hyderabad?

      Applicants who wish to avail of a personal loan from State Bank of Hyderabad can visit their nearest local branch and fill up the loan application. The completed loan application will then have to be submitted to the bank along with relevant documents such as identity proof, address proof and proof of income.

    10. Who can apply for a personal loan from State Bank of Hyderabad?

      State Bank of Hyderabad offers personal loans to applicants from the following two categories:

      Category 1

      • Employees of the State Government
      • Employees of the Central Government
      • Employees of Semi Government
      • Profit Making PSUs

      Category 2

      • Employees of private sector companies with a State Bank of Hyderabad rating of 1 to 3
    11. What is the eligibility criteria for availing a personal loan from State Bank of Hyderabad?

      Applicants will have to fulfill the following eligibility criteria in order to apply for a personal loan from State Bank of Hyderabad:

      • The applicant should be a minimum of 21 years of age and below 55 years of age
      • The applicant should be employed with his current organisation for a minimum of at least three years
      • Applicants who are employed with private sector companies are required to have a State Bank of Hyderabad account
    12. What are the documents required to be provided in order to apply for a personal loan from State Bank of Hyderabad?

      Applicants are required to provide the following documents while applying for a State Bank of Hyderabad personal loan:

      • Identity Proof (any one)
        • Passport Copy
        • Voter ID
        • Driving License
      • Proof of Residence (any one)
        • Ration Card copy
        • Electricity Bill
        • Telephone Bill
        • Rental Agreement
        • Passport
      • Previous 3 months’ bank statement or the previous 6 months’ bank passbook
      • Most recent salary slip or current Salary Certificate along with Form 16
    13. What is the personal loan amount that applicants can avail of from State Bank of Hyderabad?

      Applicants can avail of personal loans of up to Rs 7.5 lakhs. Customers applying for the first time, however, are only eligible for a maximum of Rs 5 lakhs.

    14. What is the tenure of the personal loans offered by State Bank of Hyderabad?

      State Bank of Hyderabad offers applicants personal loans with a tenure of 12 - 36 months. All repayments are required to begin one year after the disbursal of the loan, and completed within 3 years.

    15. What are the interest rates offered on personal loans by State Bank of Hyderabad?

      State Bank of Hyderabad (SBH) offers interest rates ranging from 15.7% to 16.20% on personal loans depending on the applicant’s credit score.

    16. What are the processing fees involved when applying for a personal loan from State Bank of Hyderabad?

      State Bank of Hyderabad charges a processing fee of 1% of the advance loan amount, which will be deducted at the time of disbursal of the loan. This is subject to a minimum of Rs 1,000

    17. How can I make repayments towards the loan?

      You can repay the loan through the Check off Facility. Should this facility be unavailable, repayments can be made through Equated Monthly Installments (EMIs).

    18. What are the charges involved in case I decide to prepay my loan?

      There are no prepayment charges levied should you decide to pay off the loan earlier than expected.

    19. How can I calculate my monthly installments towards the loan?

      State Bank of Hyderabad provides customers with the facility of an EMI Calculator, which can be used to calculate the Equated Monthly Installments (EMIs) required to make repayments towards the loan. The EMI Calculator can be access by visiting the official website of the State Bank of Hyderabad and accessing the ‘online services’ section. The EMI calculator calculates installments based on the amount of loan availed, the rate of interest and the duration of the loan.

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