SBI Personal Loan

Following are the State Bank of India Personal Loan fees & charges:

State Bank of India Personal Loans have something for everyone. For emergency needs, you can apply for small instant loans online.

• Loan amount: For term loans, you can avail yourself of a minimum of Rs. 3 lakhs and a maximum of Rs. 35 Lakhs, or 24 times your net monthly income. For Overdraft Loans, the minimum loan amount available is Rs. 1 Lakh, and the maximum loan limit is Rs. 25 Lakhs, subject to 24 times your net monthly income.
• Repayment tenure: You can repay the SBI instant personal loan amount within 6 to 72 months or the remaining service period (whichever is lower).
• Low interest rates: SBI personal loan interest rates start from as low as 11.45% p.a. and can go up to 14.60% p.a., depending on the loan type, borrower's income, and repayment capacity.
• Low processing charges: Up to 1.50% (maximum Rs. 15,000) plus GST. SBI is offering a 100% processing fee as a special offer from 01.09.2024 to 31.01.2025.
• Personal loan for all: The bank offers various schemes, such as SBI personal loans for govt employees, SBI personal loans for salaried/self-employed/ pensioners, and so on to cater to the financial needs of all categories of borrowers.

SBI personal loan interest rate depends on the type of loan applied for, applicant’s occupation, CIBIL score and repayment capability, and the factors. You can apply for the loan online to get the best interest rate possible. Below is the list of current State Bank of India personal loan interest rates:

1. Xpress Credit Scheme (including Pre-Approved Xpress Credit/ Real-Time Xpress Credit/ RMP Xpress Credit)

2. Xpress Elite Scheme (including Real-Time Xpress Credit Elite)

3. Xpress Flexi Scheme

4. Pre-Approved Personal Loans (PAPL) To Non-CSP Customers

SBI Xpress Elite

• SBI Xpress Elite is a customised personal loan scheme for all high-value salaried customers who have a Salary Account with SBI and earn a monthly income of Rs. 1 Lakh or more.
• The loan amount can be used for weddings, vacations, any unplanned emergency or planned purchase,
• Quick approval and disbursal with minimal documentation.
• Loan amount offered between Rs. 3 Lakhs to Rs. 35 Lakhs.
• Interest rate is charged on a daily reducing balance method and varies between 11.45% to 11.95% p.a.
• The processing fee is up to 1.50% of the loan amount (minimum Rs. 1,000 and maximum Rs. 15,000) + GST. Waived from 01.09.2024 till 31.01.2025 as a special offer.
• The repayment tenure is 6 to 72 months or the remaining service period (whichever is lower).
• Provision for second loan.
• No security or guarantor is required.

SBI Xpress Flexi

• It is an Overdraft Personal Loan for all salaried customers who have a monthly salary of Rs. 50,000 or above and have a Diamond/ Platinum/ Rhodium category Salary Package Account with SBI.
• The loan amount can be used for a wedding, vacation, unplanned emergency or planned purchase.
• The minimum overdraft amount available is Rs. 1 Lakh and the maximum is up to Rs. 25 Lakhs, with reduced Drawing Power.
• The interest rate of this scheme is 0.25% higher than the Xpress Credit scheme for Diamond Salary Package customers and the Xpress Elite scheme for Platinum Salary Package customers.
• The processing fee is up to 1.50% of the loan amount (minimum Rs. 1,000 and maximum Rs. 15,000) plus GST. The fee is waived from 01.09.2024 till 31.01.2025 as a special offer.
• You can deposit surplus funds in the loan account for a reduced interest burden.
• Auto liquidation at the end of the loan tenure.
• No annual maintenance charges, no security, and no guarantor.

SBI Real-Time Xpress Credit

• Real-Time Xpress Credit (RTXC) is an instant personal loan facility with a fully digitized loan journey designed for customers who maintain a Salary Package account with SBI.
• You can avail of loans between Rs. 1 Lakh to Rs. 35 Lakhs instantly at your convenience on 24*7 basis.
• The product is available on YONO under Digital Document Execution (DDE) and Non-DDE modes.
• The loan tenure ranges from 6 months to 72 months.
• The interest rate varies between 11.45% to 14.60% p.a.
• The processing fee is up to 1.50% of the loan amount (minimum Rs. 1,000 and maximum Rs. 15,000), plus GST. Waived from 01.09.2024 till 31.01.2025 as a special offer.

SBI Xpress Credit

• SBI Xpress Credit Personal Loan is offered to salaried employees who have salary accounts with SBI.
• Loan amount offered between Rs. 1 Lakh to Rs. 30 Lakhs.
• The repayment tenure is 6 months to 6 years or the remaining service period (whichever is lower).
• SBI personal loan interest rate for salary account holders varies between 11.45% to 14.60% pa.
• 1.50% of the loan amount, a minimum of Rs. 1,000 + GST, and a maximum of Rs. 15,000 + GST.

Pre-approved Personal Loans (PAPL) on YONO

• If you have an account with SBI, you can avail of SBI PAPL instantly at your convenience through the YONO app on a 24*7 basis in just 4 clicks.
• At present, this loan is offered to a pre-selected category of customers on certain parameters pre-defined by SBI.
• The interest rate varies between 14.10% to 14.60% p.a.
• SBI offers low processing fees for Pre-Approved Loans through YONO.
• To check your eligibility SMS "PAPL" to 567676.
• These loans come with instant processing & disbursement in just 4 clicks.
• You don't require any physical documentation for these loans.
• No branch visit is required.

SBI Pension Loan

• It is a State Bank of India Personal Loan for defence personnel, Central & State Government, and Family Pensioners who are below 76 years of age and whose Pension Payment Order is maintained with SBI.
• The maximum repayment tenure is up to 72 months (3 years for Insta Pension Loan Scheme Through YONO).
• The EMI/NMP ratio should be below 33% for Family Pensioners and below 50% for all other types of pensioners.
• No prepayment or foreclosure charges are levied if the account is closed from the proceeds of a new loan account under the same scheme.

The SBI Personal Loan EMI calculation can happen based on the reducing balance method, i.e., interest on your next EMI is calculated on the outstanding loan amount. This method reduces the interest outgo considerably.

SBI Personal Loan EMI of Rs. 1 Lakh for different interest rates and tenures.

To complete your application, you need to furnish the following SBI Personal Loan Documents:

Salaried employees & Self-employed

• Duly filled loan application & 2 passport-sized photographs.
• Proof of identity:
  • Photocopy of PAN Card
  • Passport
  • Driver's License
  • Voters ID
  • Aadhaar Card (anyone)
• Proof of residence:
  • Photocopy of recent Telephone Bill/Electricity Bill
  • Property Tax Receipt
  • Passport
  • Voter's ID Card (anyone)
• Proof of Income:
  • Copy of Identity Card issued by the employer.
  • Bank statement of last 6 months of account where salary is credited.
  • Income Tax Return.
  • Last 6 months' salary slip/bank statement.
  • Last 2 years' ITR and account statements by self-employed individuals.

You can apply for a State Bank of India personal loan online through the official website of the bank, SBI YONO mobile app offered by the bank, or through online lending marketplaces like MyMoneyMantra.

If you want an SBI personal loan apply online through the website of the bank by following the steps mentioned below:

• Visit the official website of the bank i.e. sbi.co.in.
• Click on the “Personal Loans” tab given under the “Loans” section.
• Compare all the personal loan options offered by SBI based on your requirements, eligibility, features of the scheme, and interest rates.
• Click on the “Apply Now” button.
• Fill in the online personal loan application form by entering the required details.
• Click on the “Submit” button.
• You will receive a call from the bank’s representative to guide you through the remaining process.

After your State Bank of India Personal Loan application is submitted, you will receive a reference number. Using this unique reference number you can check the SBI loan status of your application.

Steps for checking SBI application status:

• Visit the official SBI website.
• Go to check the Personal Loan Application Status page.   
  https://onlineapply.sbi.co.in/personal-banking/application-status
• Submit unique reference number (URN)
• Enter your mobile number with ISD code (91 for India)
• Click on ‘Track’ and the status of the application will be on the screen.

Find below the SBI Personal Loan Customer Care Number & other details:

• 24X7 toll-free numbers: 1800112211/18004253800/ 1800-1234/ 1800-2100/ 080-26599990
• Email ID: gm.customerr@sbi.co.in
• Write to:  
  Deputy General Manager,  
  Customer Service Dept.  
  State Bank Bhawan, 4th Floor, Madame Cama Road, Mumbai - 400021