SBI Bank Personal Loan

SBI Bank

Check Eligibility

Max. Loan Amt.

Up to ₹35.00 Lakh

Rate of Interest

10.10% - 15.10%

Tenure up to

1 - 6 Years

Processing Fee

₹Min Rs 1,000; Max Rs 15,000

Pension Loan FacilityQuick Disbursal

Check Eligibility

Features of SBI Personal Loan

• Attractive Interest Rates – Loans start at 10.10% p.a. onwards.
• High Loan Amount – Borrow up to ₹35 lakh based on eligibility.
• Flexible Repayment – Tenures of up to 7 years available.
• Quick Disbursal – Fast approval and disbursal process.
• Pension Loan Facility – Special loans for pensioners with up to 6 years tenure.

SBI Personal Loan Highlights

SBI Personal Loan Interest Rates

The interest rates for SBI Personal Loan start from 10.10% p.a. and can go up to 15.10% p.a.. While the bank has not shared a detailed interest rate matrix based on factors such as monthly income, credit score, employer’s profile or loan amount, these parameters are generally considered by most lenders when determining the final rate applicable to each applicant.

SBI Personal Loan EMI Calculator

How to Apply for SBI Personal Loan Online

State Bank of India (SBI) has partnered with mybankingtips to provide personal loans of up to ₹35 lakh through its official website or mobile app. With mybankingtips, you can also compare SBI loan offers with other leading banks like HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and Axis Bank.

Here are 5 simple steps to apply for an SBI Personal Loan via mybankingtips:

Step 1: Begin your application by entering your mobile number.
Step 2: Share your employment type – salaried or self-employed.
Step 3: Verify securely using the OTP sent to your registered mobile number.
Step 4: Choose the loan amount and specify the purpose, such as wedding, home renovation, travel, or medical expenses.
Step 5: Check personalized loan offers from SBI and compare them with other banks. Select the most suitable option and apply instantly.

Types of SBI Personal Loans

1. SBI Personal Loan for Salaried Employees

• Purpose: For salaried employees with salary accounts in SBI to meet personal expenses
• Loan Amount: Rs 1 lakh to Rs 35 lakh
• Tenure: 6 months to 7 years
   

2. SBI Pre-approved Personal Loan (PAPL) on YONO

• Purpose: Instant pre-approved loans available to SBI savings account holders through YONO or internet banking
• Loan Amount: Based on eligibility (not fixed)
• Tenure: As per bank’s offer
   

3. SBI Real Time Xpress Credit

• Purpose: 100% digital loan for salaried customers with salary accounts in SBI via YONO app
• Loan Amount: Rs 1 lakh to Rs 35 lakh or up to 24 times NMI
• Tenure: 6 months to 6 years
   

4. SBI Pension Loan

• Purpose: For government pensioners, defense pensioners, and family pensioners maintaining pension accounts with SBI
• Loan Amount: Depends on pension eligibility
• Tenure: Up to 6 years
   

5. SBI Pre-approved Pension Loan on YONO

• Purpose: Pre-approved pension loans available via YONO app or internet banking
• Loan Amount: Up to Rs 5 lakh
• Tenure: As per bank’s approval

SBI Personal Loan Fees & Charges

Processing Fees

Other Fees & Charges

Why Choose SBI for Personal Loan?

• Competitive Rates: SBI personal loans start from just 10.10% p.a., which is lower compared to many other banks.
• Easy Process: With minimal documentation, SBI makes the loan process quick and hassle-free, especially for salary account holders.
• Instant Approvals: Pre-approved personal loans are available for existing customers through the YONO SBI app with fast disbursal.
• Trusted Bank: Being India’s largest and most reputed bank, SBI offers reliability and security for your borrowing needs.

SBI Personal Loan Eligibility Criteria

For Government/Defence Sector Employees

• Employment: Govt., PSU, Defence, Railways, Police, CAPF, Coast Guard
• Salary Account: Mandatory with SBI
• Age: 21 to 60 years (up to 65 years in special cases)
• Minimum Salary: ₹20,000 per month
• Work Experience: At least 6 months
• EMI/NMI Ratio: Up to 65%
   

For Corporate Sector Employees

• Employment: Private/Corporate sector
• Salary Account: Mandatory with SBI
• Age: 21 to 60 years
• Minimum Salary: ₹25,000 per month
• Work Experience: At least 1 year
• EMI/NMI Ratio: Up to 65%
   

For SBI Real Time Xpress Credit (RTXC)

• Applicant: Salaried with salary account in SBI
• Minimum Salary: ₹25,000 per month
• EMI/NMI Ratio: Up to 65%
   

For SBI Pension Loan

• Government Pensioners: Up to 76 years, account with SBI, EMI/NMP up to 50%, needs irrevocable undertaking + NOC from Treasury
• Defence Pensioners: Up to 76 years, account with SBI, EMI/NMP up to 50%, applicable to armed & paramilitary forces
• Family Pensioners: Up to 76 years, account with SBI, EMI/NMP up to 33%, must be an authorized family member

Documents Required for SBI Personal Loan Application

For the SBI Xpress Credit Personal Loan scheme, the following documents are needed:

• Application Form – Duly filled with passport-sized photographs
• Identity Proof – PAN card
• Proof of Identity/Address – At least one copy of an Officially Valid Document (OVD)
• Income Proof – Salary slips of the last 6 months
• Additional Income Proof – Latest ITR or Form 16