Fulfil your wishes with

(SBI) State bank of India Personal Loans from 11%

Get loan amount upto 30% with minimal documents at a low interest rate. Check the features and benefits of various types of SBI personal loans.

Apply now

Get Instant

Approval

Direct Cash

Transfer

Lowest

Interest Rates

Minimal

Documentation

SBI Personal Loans

SBI Offers personal loan for various purposes to Indian Banking customers with interest rates starting from 11.0% with enticing offers like low processing charges, low interest rates along with minimal documentation

SBI Personal Loan Types & Features

SBI Xpress Credit

Given to salaried employees having salary account with SBI

Loan upto 30 Lakhs
Zero Hidden costs
Minimal documentation
Low Processing fees
Chance to get second loan

SBI Quick Personal Loan

Given to salaried employees who do not have their salary account with SBI,

Loan upto 20 Lakhs
Zero Hidden costs
Minimal documentation
Low Processing fees
Chance to get second loan

SBI Pension Loan

A Loan given to pensioners that can used for a range of purposes

Low Processing Fees
No hidden costs
Quick loan processing
Easy EMIs through SI

Pre-approved Personal Loan

Pre-approved loan provided to existing customers through YONO app
Low Processing fees
Instant Disbursement in just 4 clicks
Zero Documentation
No branch visit required

SBI Xpress Flexi

Provided to salaried customers whose monthly income is above 1 Lakh,

Loan upto 35 Lakhs
Low Interest rates
Low Processing Charges
No Hidden Costs

Realtime Xpress credit

It is a Loan given for Govt. and defence package customers.

The maximum loan amount is Rs. 35 Lakhs
Complete digitization process
Aadhar OTP based e-sign of the customers
Instant Loan disbursement

Eligibility criteria for SBI Personal Loan

The eligibility criteria varies for various types of personal loan offered by SBI:

Eligibility Based on Age

For Xpress Credit and SBI Quick Personal Loan, you must be aged atleast 21 years and below 58 years at the time of applying

For pension loan, you must be below 76 years and not more than 78 when the loan matures

Eligibility based on Salary

SBI Xpress credit, individuals must have an account with SBI. The minimum monthly income should be Rs. 15000

For Quick Personal loan, individuals can have salary account with other banks and the minimum monthly income should be Rs. 15000

CIBIL score

For all types of Personal loan, SBI expects a credit score of atleast 750 in order to process the loan
Work experience of 1 year atleast is preferred
EMI/NMI Ratio: Less than 50% (NMI – Net monthly income)

Charges in SBI personal loan

Interest rates	10.75 – 18.5%
Loan Processing Charges	Upto 2% of Loan amount + taxes, For govt employees with salary accounts with BoB, there will be No processing fee
Prepayment charges	Nil
Penal Interest	@24% pa
Loan Tenure	For Govt employees – 5 years, for others – 4 years

Fees and Charges

Loan Scheme	Processing fee	Foreclosure charges
Xpress Credit	Waived off	3% on the prepaid amount
SBI Pension	Waived off	–
Pre-approved loan	Bank’s discretion	–
Quick Personal loan	1.5% of loan amount	3% on the prepaid amount

Documents required for SBI personal loan

Xpress credit loan

Proof of Identity – Passport/Driving License/Voter ID/ PANCard
Residence Proof – Passport/ Last 6 months bank statement and updated passbook
Salary slips for 3 months
Duly filled application form along with recent photograph

For Defence personnel

Duly Filled application form
Proof of Identity
Proof of residence
Six Months statement where salary is credited
Last 6 months payslip
Letter from organization

SBI Customer Care

Customer Care: 1800-112-211 and 1800-425-3800

How to Apply for a Loan at SBI

Get your loan approved in 4 simple steps,

Check if you have a pre-approved loan offer from SBI
Submit your personal loan application and check your eligibility at Fincover
Check your personal approval
If approved and verified, the loan will disbursed in few minutes

Personal Loans by Bank

NBFCs

Useful Links

Personal loans by City

Personal loans by State

Personal loans by Amount

Personal loans by Types

Personal loans for Salary

What is the EMI/NMP ratio under the SBI Pension Loan?

SBI pension plan’s EMI/NMP ratio should not exceed 33% of family pensioners

Is Guarantor required for SBI pension loan?

Yes, third party guarantor is required mandatorily for SBI pension loan

What are the options to repay SBI Personal Loan?

You can repay SBI loan through autopay feature

Do I need to pay prepayment charges for foreclosing a loan?

Not every loan comes with prepayment charges. Certain loans like Xpress credit and instant personal loan have 3% of the outstanding loan amount as foreclosure charges