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    State Bank of Travancore (SBT) Personal Loan Interest Rates

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    12.60% to 13.60% Fixed
    1% + S.T. One time fee
    10L Max
    1-5 Years
    Response Time Within 30 minutes
    Think about
    Eligibility Criteria

    About State Bank of Travencore Personal Loan

    State Bank of Travancore Personal Loans are offered to self-employed individuals and salaried as well as those involved in business. These loans are meant for needs personal or otherwise that are not covered under traditional loan schemes. Such loans from State Bank of Travancore can aid in many unplanned expenses. Personal loans from State Bank of Travancore are readily available through minimal documentation and low interest rates.

    State Bank of Travancore Personal Loan Interest Rates

    State Bank of Travancore Personal Loan interest rates have had changes within 2-3% in the past five years and the recent changes in RBI’s repo rate have resulted in a lowering of the interest rate recently. Going back to 2010, while rates ranged from 8-12%, now as of July 2015, the rate for personal loans from State Bank of Travancore ranges from 10.65% to 14.15% and is applicable for all categories of loan seekers meeting the eligibility criteria set by the bank. Further increase or decrease of the interest rate will be at the sole discretion of the bank.

    Interest Rate (Floating per annum) (as of July 2015)

    SBT Easy Gold Loan – 11.90%

    SBT Liquid Gold Loan - 12.90%

    SBT Max Gain - 10.65% to 10.90%

    Home Cash Scheme - 12% to 12.25%

    Suvidha Loan - 12.90% to 13.40%

    SBT Personal Loan - 13.40% to 14.15% (check-off dependent)

    Jai Jawan Pension Loan - 12.90%

    New Prasanthi Elite - 13.65%

    New Prasanthi Loan - 13.40%

    Loan Types SBT Easy Gold Loan, SBT Liquid Gold Loan, SBT Max Gain, Home Cash Scheme, Suvidha Loan, SBT Personal Loan, Jai Jawan Pension Loan, New Prasanthi Elite, New Prasanthi Loan
    Loan Amount No minimum stipulation and no maximum limit based on the need
    Loan Tenure Can be as long as 60 months
    Lowest EMI per lakh Rs. 2157
    Prepayment Charges Not applicable
    Base Rate (as of July 2015) 10.65%

    Calculating Interest on State Bank of Travancore Personal Loan

    EMIs or Equated Monthly Installments are the way in which any personal loan from State Bank of Travancore will need to be paid back. Each EMI consists of a portion of the principal amount as well as the interest. As the maturity year draws closer, the principal portion gradually increases and simultaneously the interest portion decreases.

    The method for Calculating the EMI on a Personal Loan can be mentioned as follows -

    E = P*r*[(1+r)^n/((1+r)^n-1)]

    Here E - Monthly EMI, r - rate of interest per month, n - number of years.

    For a ballpark figure of Rs. 1,00,000 at an interest rate of 10.65% with a loan tenure of 1 year, the interest will account for Rs. 5,862.

    For example, the following will be the amortization table for a personal loan of Rs. 10,00,000 for a period of 5 years at an interest rate of 10.65% from State Bank of Travancore (starting from August 2015) -

    Year Total Payment (INR) Balance (INR) Principal Portion (INR) Interest Portion (INR)
    2015 1,07,841 9,35,397 64,603 43,238
    2016 2,58,819 7,68,192 1,67,205 91,614
    2017 2,58,819 5,82,284 1,85,908 72,912
    2018 2,58,819 3,75,581 2,06,703 52,117
    2019 2,58,819 1,45,758 2,29,824 28,996
    2020 1,50,978 0 1,45,758 5,220

    In any period of repayment exceeding 2 years, the annual total of EMIs might not change for some subsequent years, while the principal and interest amounts in a year will keep varying. The principal portion keeps increasing and the interest portion keeps decreasing till the loan gets paid off completely.

    Factors affecting State Bank of Travancore Personal Loan Interest Rates

    State Bank of Travancore personal loan interest rates can change for any individual who has been approved for availing a personal loan. The approval process might be dependent on several factors such as -

    1. Personal loan amount - Based on the amount of personal loan applied for, the interest rate might be changed beyond the advertised rate for specific customers or categories of customers
    2. Tenure of the personal loan - Based on the discretion of the bank, a longer tenure might have a lower or higher rate of interest
    3. Repayment capacity - State Bank of Travancore will check repayment capability of a customer. Depending on amount of cash inflows and transactions carried out by a customer, the bank might offer some leniency on personal loan interest rates
    4. Income - Income is important for loan eligibility as well. Additionally, the bank may change the interest rate for a personal loan based on the income of a customer
    5. Assets - Presence of fixed and movable financial assets play a crucial loan in improving the financial picture of one’s life. Based on the same, State Bank of Travancore might provide a preferential rate of interest for personal loans
    6. Relationship with the bank - An existing customer of State Bank of Travancore is bound to get preference when applying for a personal loan and the bank might consider providing a better rate of interest to the customer
    7. CIBIL scores - Approval of a personal loan takes one’s credit history into account. So, the CIBIL score might also work in favour of getting a better interest rate from the bank

    In spite of the above factors, any change in the advertised interest rates is at the sole discretion of the bank.

    How does the CIBIL Score affect Personal Interest Rates of State Bank of Travancore?

    Preferential rates on personal loans are more feasible when considering a better CIBIL score. Along with a credit history report, scores from CIBIL play a pivotal role in furthering the case of getting a personal loan approved from State Bank of Travancore. CIBIL scores range from 300 to 900 and a score above 750 is considered a good one. Scores above 750 might allow the bank to consider offering a better rate of interest to the customer. Else the rates might be higher than expected. Checking the CIBIL score and getting it to a figure that’s acceptable is a good way to expect better rates from banks.

    Key Points regarding State Bank of Travancore Personal Loan Interest Rates

    Availing a personal loan from State Bank of Travancore is easy for individuals who meet the base minimum eligibility criteria, however, the following points should be borne in mind -

    • The interest rates in State Bank of Travancore for personal loan are subject to the repo rate of RBI and may come down further, but not necessarily immediately
    • The personal loan interest rates in State Bank of Travancore are floating, not fixed and are among the lowest in the market
    • Personal loans from State Bank of Travancore don’t require any security or guarantor, but having a stellar financial record and investments in government securities might aid in getting a better interest rate
    • While your credit score might be kept in mind by State Bank of Travancore, the interest rates may or may not change as per that

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