SBI Personal Loan Documents Required

SBI requires applicants to submit some documents when applying for a personal loan. The SBI personal loan document requirements include the SBI loan application form pdf or hard copy, two passport size photographs, and proof of address, identity and income. The Bank may ask for additional documents from pensioners, salaried individuals and self-employed applicants.

  • Documents Required
  • Factors Affecting Loan Eligibility

SBI Personal Loan Documents Required

Disclaimer: State Bank of India (SBI) is not a partner of MyMoneyMantra for personal loans. All information is for reference only. MyMoneyMantra has no affiliation, sponsorship, or connection with SBI for personal loans. For details on SBI personal loans, please contact SBI directly.

The SBI personal loan documents required are as follows and have to be submitted along with the SBI loan application for a personal loan and two passport-size photographs.

Proof of Address:

  • Voter’s ID Card
  • Aadhar Card
  • Property Tax Paid Receipt
  • Property Registration Document
  • Driving Licence
  • Utility Bills
  • Letter issued by NREGA duly signed by an Officer of the State Government containing the name and address.

Photo Identity Proof

  • PAN Card
  • Passport
  • Letter from Employer
  • ID card issued by the Employer
  • Driving License

Income Proof

  • Latest salary slips (3 months)
  • Latest Form 16 and IT Returns
  • Bank account statement showing salary credit for the last 6 months.

Additional Documents for Pensioners

  • SBI pension loan application form pdf.
  • Copy of Pension Payment Order
  • Undertaking from the Pensioner that no request will be raised with the Treasury to transfer the pension to any other bank account during the pendency of the loan.
  • Undertaking from the Treasury that it will not accept any request for transfer of pension to any other bank account without NOC from the bank.

Other Documents for Salaried Employees

Other documents required for personal loans in SBI by salaried applicants include:

  • An irrevocable mandate from the employer for deducting the EMI from the salary of the employee along with an undertaking not to transfer the salary to any other bank account without NOC from the bank.

Factors Affecting the SBI Personal Loan Eligibility

There are various crucial factors that the bank verifies before coming to a conclusion about your eligibility for a personal loan. The main factors are:

  • Age: The age stipulated to qualify for a personal loan is between 21 years to 60 years. If you are in the productive age group and the prime of your career you will be more preferred for the personal loan. The reason is a long period of stable income, that ensures recovery of the loan.
  • Credit Score: Credit Score shows your responsibility for financial commitments. A good score signifies your ability to make credit decisions and prompt repayments of the existing commitments that convince the banker that you will make the repayment towards the loan as agreed.
  • Income: The basic requirement for a personal loan is a stable income. Only with a stable income, you will be able to repay the loan as per the agreed terms. The higher the income, the higher will be your eligibility for the personal loan. The length of your work experience is also considered to determine your income stability. If you have been changing jobs frequently it will be difficult to get a personal loan since your income is not stable
  • Status of your employer: If you are employed with Government Organisations /PSUs/Reputed Corporate/Reputed Educational Institutions the bankers view you as a more reliable borrower. The status of your employer is equally important while determining your eligibility for the loan.
  • Relationship with the bank: If you are an existing customer of the bank the chances of approval of the personal loan are brighter the credibility will already be established depending on your past performance. If you have a good track record you can even negotiate on the charges as well as the loan amount.
  • SBI provides pre-approved loans to select customers which can be availed when required by placing a request through net banking. If your track record is good then you might be one of the select customers eligible for the pre-approved loan.
  • Existing commitments: If you have too many existing financial obligations your monthly income will reduce to that extent and managing the proposed EMI will become difficult. So, if you are planning to avail a personal loan, try to close as many short-term loans as possible to reduce the monthly outgoings from your income.
  • Accuracy of documents: Make sure the SBI personal loan documents list submitted by you are complete and accurate. Incorrect or incomplete documents can lead to rejection of your loan application.

SBI Personal Loan Documents FAQs

The personal loan documents SBI requires include the SBI personal loan form, two passport-size photographs, and proof of address, identity, and income. If you wish to close your loan before the decided tenure, you will have to submit the SBI personal loan closure letter format along with the prepayment charges. The document requirements may change according to the personal loan type. For example, SBI Kavach personal loan documents can be different from the documents required for SBI xpress credit loans.

  • Latest salary slips of the last 3 months.
  • Latest Form 16 and Income Tax Returns.
  • Bank account statement showing salary credit for the last 6 months.
  • Pensioners will be required to show a copy of their Pension Payment Order.

Following is the list of SBI xpress credit loan documents required:

  • Duly filled and signed SBI personal loan form PDF or hard copy. 
  • 2 recent passport-size photographs are to be submitted along with the Xpress Credit loan application form.
  • Identity proof, such as a copy of a Passport, PAN Card, Voter ID, Aadhaar Card, or Driving License (anyone).
  • Address proof, such as a copy of Passport, recent Telephone Bill/ Electricity Bill, Property Tax Receipt, or Voter ID Card (any one).
  • A copy of the Identity Card issued by the employer.
  • Bank statements of the recent 6 months of the account where salary is credited.
  • Salary slips of the last 6 months.
  • Income Tax Returns.
  • An irrevocable letter of authority by someone authorised to disburse salary.
  • An irrevocable letter of authority addressed to the disbursing authority.

The loan eligibility for the personal loan can be improved by availing the loan in joint names with the spouse. The income of the spouse will be considered for computing the loan eligibility. You can also improve your eligibility by maintaining an excellent credit score (750 or above), repaying your existing debts and credit card dues on time (if any), and showing other means of income.

Any of the following documents are valid for SBI personal loans:

  • Voter’s ID Card
  • Aadhar Card
  • Property Tax Paid Receipt
  • Property Registration Document
  • Driving Licence
  • Utility Bills
  • Letter issued by NREGA duly signed by an Officer of the State Government containing the name and address.

No. Getting a SBI 1 lakh loan without documents is not possible. The bank requires certain documents to establish your identity and income.

Indeed, you can utilise your Aadhaar Card as a substantial identity and address proof to apply for a personal loan from SBI. However, alongside the Aadhaar Card, you additionally need to submit other documents as well. For example, payslips and other documents mentioned above that SBI may require depending on your candidate profile.

No, you only need to submit the photocopies (typically self-bore witness to) of your KYC document to apply for a personal loan from SBI. SBI needs to cross-check the duplicates with original records when you apply for a personal loan.