State Bank of India Personal Loan | Eligibility | Interest Rate | Documentation

Feature Of SBI Personal Loan

.Low interest rates. Further, we charge interest on a daily reducing balance
.Low processing charges( 2%-3% of loan amount)
.No hidden costs or administrative charges.
.No security required
.No prepayment penalties.
.Long repayment period of up to 48 months.

Eligibility for State Bank of India Personal Loan

Your Loan Eligibility depend on your Income

. 2.50 lakhs in Non Metros
. 5 lakhs in Metros
. Upto 10 lakhs where salaried account or current account is with Sbi.It is determined by your repayment capacity.
. Minimum Monthly Income : Rs.24,000/- in metro and urban centres,Rs.10,000/- in rural/semi-urban centres
. Maximum Loan : 12 times Net Monthly Income for salaried individuals and pensioners subject to a ceiling of Rs.10 lacs in all centres

Document Required

. Passport Size Photograph
. Proof of office address for self employed individuals and professionals. This can include shop and establishment certificate/Lease deed/Telephone Bill
. Latest Salary Slip and Form 16, in the case of Salaried Person.

Interest Rate

. Personal Loans Scheme (SBI Saral)- 18.50% p.a.
. SBI Loan to Pensioners - 14.75% p.a.
. Processing charges are 2-3% of the loan amount

Other Products of State Bank of India

SBI Car Loan
SBI Home Loan Personal Loan Bank SBI Personal Loan EMI Calculator SBI Car Loan EMI Calculator