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

    State Bank of Travancore Personal Loan

    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
    Documents
    Perks
    Think about
    Eligibility Criteria

    State Bank of Travancore Personal Loan is Rated as "Excellent!" by 9 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Personal Loan BYTES FROM OUR KITCHEN

    State Bank of Travancore is a subsidiary of the State Bank Group and also has private share-holders. It is the premier bank of Kerala, India, where it has 777 branches. Overall, SBT has a network of over 1036 branches spread over 16 Indian states. SBT provides Personal loans to all central, civil, defence, railways, telecom,KSRTC,KSEB,KWA,KAU, state Govt. and SBT pensioners/Family pensioners whose pension accounts are maintained with us. Continue reading to view more details about this loan.


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

    01
    02
    03
    04
    State Bank of Travancore Personal Loan Minimum Age

    At least 21 years old

    State Bank of Travancore Personal Loan Maximum Age

    Less than 58 years old

    State Bank of Travancore Personal Loan Eligible Employment Type

    Salaried / Self – Employed
    with regular income

    State Bank of Travancore Personal Loan Minimum Income

    Earn more than the minimum
    income required


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

    01
    02
    03
    State Bank of Travancore Personal Loan Minimum Salary

    Minimum income required
    Rs. 10000 per month

    State Bank of Travancore Personal Loan Maximum Loan Funded

    Maximum allowed personal loan is Rs. 10 lakhs

    State Bank of Travancore Personal Loan EMI

    EMIs of other loans lower
    your eligibility


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

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

    Pay off your credit card bills

    “State

    Choose longer tenure loan up to 60 months


    Documentation needed to apply for an State Bank of Travancore 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 Travancore Personal Loan Interest RatesUpdated on 11 Dec 2016

    State Bank of Travancore Personal Loan Details
    Interest Rate 12.60% to 13.60%
    Processing Fees 1.0% of the loan amount sanctioned plus service tax
    Loan Tenure 60 months
    Guarantor Requirement Guarantor required

    About State Bank of Travancore (SBT) Personal Loan

    State Bank of Travancore is a subsidiary of the State Bank Group. It is one of the most prominent banks in the state of Kerala where it has majority of its business. The bank has a wide network of ATMs and branches. State Bank of Travancore has 1157 branches and 1602 ATMs spread across various states of the nation.

    State Bank of Travancore was established in the year 1945 under the name of Travancore Bank Limited. At that time the Travancore government put in 25% of the capital after which the bank started undertaking a lot of government treasury work and foreign exchange transactions along with its normal business work. In the year 1960, the Travancore Bank was taken under the State Bank of India group under the SBI Subsidiary Banks Act, 1959, enacted by the government of India.

    Currently the bank has around 2 million savings accounts of customers out of which 90% are from the state of Kerala. The bank envisions to become the most trusted banking partner for customers with creative and transparent banking principles.

    Why choose State Bank of Travancore Personal Loan?

    Personal loan from State Bank of Travancore is a great financial instrument to address any urgent financial need. Be it a wedding in the family or a long-pending exotic vacation or even an unforeseen medical emergency, personal finance scheme from State Bank of Travancore makes sure lack of funds is never a reason to compromise on your commitments. SBT Personal Loan scheme is comprehensive, flexible as well as affordable.

    State Bank of Travancore offers personal loan schemes to applicants from almost all types of job backgrounds and income strata. Here are some of the most amazing SBT personal loan schemes which can be your sure bet.

    • Personal Loan for existing govt./PSU/corporate employees

      This personal loan scheme is aimed at providing financial assistance to customers who are either government employees or are working in the corporate sector. Permanent employees of government schools, colleges, universities, offices, defence personnel and all those who work in state and central government offices can apply for this loan. The applicant should have completed at least one year of service at any of the above stated organizations.

    • Jai Jawan Personal Loan

      As indicated by the name, this personal loan scheme aims to cater to the personal financial needs of young defense pensioners. These include pensioners of armed forces including navy, air-force, coast guards, and para-military forces and so on. The age of the applicant should be under 50 years to avail this loan scheme.

    • New Prasanthi Elite

      The New Prasanthi Elite scheme is offered to meet the personal financial needs of elite pensioners. This includes all central, civil, defence, railways and state pensioners whose pension accounts are maintained with State Bank of Taravancore. To avail this loan the monthly pension of the applicant should not be less than RS.20,000.

    • New Prasanthi Loan

      This is a form of demand loan where the pensioners need to meet their short-term financial needs. The list of eligible borrowers includes all central, civil, defence, railways and state pensioners whose pension accounts are maintained with State Bank of Taravancore. 12.90% - 13.90%

    State Bank of Travancore Personal Loans come with the strong backing of the State Bank Group which is the topmost bank of India. There are several features that make these loans extremely lucrative to avail. No matter what is the personal reason that you need funds for, SBT loans help you sail smoothly through. Avail SBT personal loans to fulfill monetary commitments that are well-planned expenses or even sudden urgent financial requirements.

    Low Rate of Interest: The rate of interest for personal loan of SBT varies depending upon the monthly income and the job status of the loan applicant. However, the interest rates are quite competitive and range between 12.90% - 13.90% per annum. These are subject to fluctuations depending upon changes in the base lending rate of the bank.

    Flexible Tenure: The loan repayment can be made in a maximum of 60 months that is 5 years. Loan repayment period differs for various loan applicants depending upon the personal loan scheme availed by them.

    • Personal Loan for existing govt./PSU/corporate employees

      Maximum repayment period of 60 months

    • New Prasanthi Loan

      For normal pensioners the maximum loan period is 60 months

      For family pensioners the maximum loan period is 36 months

    • New Prasanthi Elite Loan

      Maximum loan period allowed is 60 months which is to be completed before the pensioner attains the age of 80 years

    • Jai Jawan Personal Loan

      Maximum allowed loan tenure is 84 months, payment starts one month after disbursal of the personal loan

    Eligibility for State Bank of Travancore Personal Loan: Eligibility criteria for personal finance scheme of State Bank of Travancore is as follows:

    • Applicant should be an existing customer of SBT
    • Applicant should be an Indian resident
    • Applicant should have a regular income and should be a salaried employee or a pensioner (Government service or a regular corporate job)
    • Loan applicant’s minimum age should be 21 years
    Documents required for State Bank of Travancore Personal Loan:

    Following are the documents that SBT will ask its customers to furnish in case they are looking for a personal loan

    • A duly-filled personal loan application form
    • Proof of identity, for e.g. Voter’s Card/ Passport/Aadhar Card/Photo Ration Card or any other ID proof
    • Residence Proof such as gas bill, passport and so on
    • Proof of age such as driving license, birth certificate
    • Latest salary slips or form 16
    • Account statements of last 3 months
    • A couple of passport sized photographs
    • Investment and savings proof, if required by the bank

    Additional documents can be asked by the bank depending upon the type of personal loan being availed and the loan applicant who is making the request.

    Personal loans from SBT can be availed by both individuals and corporates, with the interest depending on a number of key factors. Benchmarks at the bank help compute standard interest rates (where applicable), with the date of loan sanction deciding the benchmark a borrower is eligible under.

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

    MCLR benchmarks were introduced following RBI guidelines, with SBT monitoring and modifying these on a regular basis. The current benchmark takes their operating costs into consideration, ensuring that the interest charged is fair and not discriminatory.

    MCLR Benchmark Tenure (Period) Benchmark Rates (MCLR)
    Overnight 9.35%
    1 month 9.45%
    3 months 9.55%
    6 months 9.75%
    1 year 9.85%
    2 years 9.95%
    3 years 10.00%

    Personal loan interest rates (MCLR)

    SBT uses the MCLR benchmark as a tool to determine the final interest rate, with the table below highlighting the applicable rates under different conditions.

    Type of Loan Check-off Interest Rate
    Demand Loan Check-off facility available MCLR (1 year) + 3.25% = 13.10% per annum
    Overdraft Check-off facility available MCLR (1 year) + 3.50% = 13.35% per annum
    Demand Loan No check-off facility MCLR (1 year) + 3.75% = 13.60% per annum
    Overdraft No check-off facility MCLR (1 year) + 4.00% = 13.85% per annum

    State Bank of Travancore Base and Prime Lending Rates (For existing borrowers)

    The base rate and prime lending rate at SBT are highlighted in the table below.

    Base Rate 9.95% per annum, w.e.f. 05/10/2015
    Prime Lending Rate 15.15% per annum, w.e.f. 05/10/2015

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

    The interest rate for borrowers who do not fall under the ambit of MCLR depends on the base rate, with SBT typically charging a certain percentage over and above the current/existing base rate. Factors like the loan amount, tenure, borrower credentials, etc. play a role in determining the final rate, with SBT having the discretion to change rates on a case to case basis.

    Note: Interest rates mentioned above are subject to change/modification without prior notice. All rates are as of June 16, 2016 and applicants are advised to check rates prevailing at the time of application. SBT reserves the right to alter rates at its sole discretion.

    Whether you have availed Personal Loan from State Bank of Travancore or are still contemplating your decision to avail, calculation of personal loan EMI is now a piece of cake. Online EMI personal loan calculators are useful and timesaving tools that help users calculate their loan EMIs. These Online EMI Calculators take in as input the personal loan amount, the applicable rate of interest, the corresponding loan tenure and the processing charges and process all this data to yield the personal loan EMI. Along with this an amortization table depicting the entire repayment schedule is also furnished. Reading this table you can know the exact amount of money that will go towards loan repayment each month and the outstanding loan balance at each point of time during the loan schedule.

    Knowing the EMI amount beforehand helps customers plan their finances better. Also, customers can zero down on a bank by inputting the processing charges and rates and checking the EMI difference.

    1. How much time will my personal loan take to get sanctioned?

      Once you have submitted your loan application along with all the required documents, SBT goes through and verifies all the information furnished by you. Then, depending upon your monthly salary, the bank sanctions your loan amount. Usually, the whole process takes a few days after which the loan amount is credited directly to your SBT account.

    2. How do I apply for SBT Personal Loan?

      You can apply for the State Bank of Travancore personal finance scheme by visiting your nearest bank branch. The application form and other details pertaining to the loan are furnished by the customer representative of the bank.

    3. How much does State Bank of Travancore charge for processing personal loans?

      Processing charges vary with the type of personal loan availed. For regular personal loan a processing fee of 1% of the personal loan amount while the other personal loan schemes charge a processing fee of 0.50%.

    4. What is the maximum loan amount that can be availed via SBT Personal Loan?

      The maximum loan amount that can be availed under the SBT personal loan scheme depends upon the monthly salary of the applicant as well as the loan scheme availed.

    5. Loan TypeMaximum Loan Amount
      Personal Loan for existing govt./PSU/corporate employees Up to 10 Lakhs
      New Prasanthi Loan Pensioners - Up to Rs.3 lacs
      Family pensioners – Up to Rs.1 lacs
      New Prasanthi Elite Loan Maximum of Rs.7.5 lacs
      Jai Jawan Personal Loan Maximum of Rs.3 lacs
    6. Is a guarantor required for availing personal loan from State Bank of Travancore?

      Yes. A loan guarantor is required to sign your personal loan application with State Bank of Travancore.

    7. What is meant by moratorium period and how much is it for SBT personal loans?

      Moratorium period is the period for which you might not be required to pay any loan repayments. The Moratorium period for SBT Personal Loans is nil.

    8. What collaterals do I need to submit to the bank as security for SBT personal finance?

      Depending upon the type of personal loan availed SBT will ask you for security deposit. In some cases a guarantor is all that is required while others may be required to submit a collateral as security.

    9. Can I choose partial disbursement of personal loan availed from SBT?

      No. Partial disbursement of personal loans is not an available feature of State Bank of Travancore personal loans.

    10. Will I get a written proof when I have re-paid the entire State Bank of Travancore personal finance?

      Yes. SBT will furnish a “No-Due” certificate to you once you have repaid the entire personal loan amount.

    11. How will I repay the personal loan availed from State Bank of Travancore

      Your personal loan will be repaid in a certain number of fixed monthly installments. These installments could be 60 or 36 depending upon the type of personal loan scheme availed. The money can be deposited by you in your SBT personal loan account either via online banking or by visiting a bank branch.

    12. How do I know if I’m eligible for a personal loan from State Bank of Travancore?

      The following eligibility criteria must be met in order to take a personal loan from SBT:

      • Minimum age: 21 years old.
      • Maximum age: 58 years old.
      • Salaried or self-employed with a regular income (minimum Rs.10,000).
      • Maximum loan amount: Rs.10,00,000.
      • Preferably no other active loans.
      • Must be an Indian resident.
    13. Are there any processing fees for SBT personal loans?

      Yes, there is a processing fee applicable, minimum of 1.0% of the sanctioned loan amount plus service tax as applicable, depending on the loan product chosen.

    14. What is the maximum tenure for State Bank of Travancore personal loans?

      The maximum loan tenure is generally 60 months across all personal loan products, but for the Jai Jawan Personal loan the maximum repayment tenure is 84 months. It’s also worth noting that the maximum loan tenure for family pensioners under the New Prasanthi Loan is 36 months.

    15. Is there a requirement for a guarantor, or any type of security for the loan?

      Yes, a guarantor or security in the form of gold jewellery, specially minted coins, mortgage of property, etc. depending on the type of personal loan required.

    16. What are the existing interest rates for a personal loan from State Bank of Travancore (SBT)?

      Personal loans for existing govt. / PSU / corporate employees: Full Check-off – 13.40%-13.65% p.a.; No check-off – 13.90%-14.15% p.a.

      • New Prasanthi Loan: 13.40% p.a.
      • New Prasanthi Elite Loan: 13.65% p.a.
      • Jai Jawan Personal Loan: 12.90% p.a.
    17. Is there a maximum age cut-off if the applicant is nearing retirement age?

      Yes, the last month of the tenure of the loan must end before the applicant reaches an age that is 3 years before the age of retirement.

    18. What are the documents required to apply for a personal loan from SBT?

      Before applying for an SBT personal loan, one must furnish the following documents:

      • Duly filled in and signed loan application form with 1 photograph.
      • 2 extra passport sized photgraphs.
      • ID proof: could be a copy of any official document that contains your name and photograph, like a passport, driving license, Voter ID card, etc.
      • One processing fee cheque.
      • (For self-employed applicants) Bank statements for the last 3 months.
      • (For self-employed applicants) Passbook for the last 6 months.
      • (For self-employed applicants) Latest ITR.
      • (For salaried applicants) Latest salary slip.
      • (For salaried applicants) Current dated salary certificate with duly filled out Form 16.
    19. How can I raise my eligibility for the SBT Personal Loan?

      Paying off credit card bills on or before due date, prudent financial planning to meet and clear EMI payments as and when they become due, are ways in which you can raise your credit score, and also your eligibility for the personal loan.

    20. How is penal interest charged in the event of the borrower not being able to meet an EMI payment for an SBT Personal Loan?

      In the event of irregularities in EMI payments, penal interest is charged at 1.0% p.a. in addition to the interest rate that’s already active on the loan. The penal interest will be charged on the overdue amount, and only for the period of default.

    21. Can the ECS facility be activated for repayment?

      Yes, the Electronic Clearing Facility can be opted for and activated for loan repayments.

    22. *Please note that all amounts, tenures, repayment requirements, time frames, interest rates, other rates, charges, fees, ceilings, requirements, criteria, features, benefits, exclusions, calculations, ratios, ratings, terms and conditions mentioned above are as of February, 2016, and are subject to change at any time. All banks / NBFCs / insurance providers / financial service providers / companies, etc. mentioned above retain all rights to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at their own discretion. You are requested to reconfirm the same with your chosen bank / company / NBFC / insurance provider / financial service provider, etc. before making any financial commitments.

    Close

    Compare Personal Loan Offers from Top Banks. Apply Online and Get e-Approved Instantly.

    State Bank of Travancore Personal Loan Reviews

    Common Loader Icon
    reTH65gcmBgCJ7k - pingdom check string.
    reTH65gcmBgCJ7k - pingdom check string.
    This Page is BLOCKED as it is using Iframes.