SBI Personal Loan
Loan Tenure: Flexible, Credit Score: not an issue, Loan Amount: 15k to 20 lakh
Are you facing financial issues in your life? If yes, then SBI personal loans are one of the best options to resolve your financial problems instantly. SBI offers different types of personal loan with a minimal rate of interest in order to meet the varying requirements of customers. The best part is that SBI provides customized loan options as well as special loan schemes for some borrowers.
Apply for personal loan from SBI online through Rupee Station and get the loan instantly at the low rate of interest. Rupee Station allows you to apply for the loan in just a few clicks as you just need to fill an online form to apply. Once you have submitted the loan application, our officials take the procedure forward and help you to avail the best available loan offers.
Why take Personal Loan from SBI?
State Bank of India personal loan comes with multiple benefits to the borrowers and some of the major advantages include –
- SBI personal loan interest rates are extremely low
- Low loan processing charges
- No hidden administrative cost or other charges
- Different types of personal loan
- Easy and transparent procedure
- Online process of personal loan
- Flexible tenure of repayment
- 24*7 customer support services
- Easy documentation process
SBI Bank Personal Loan Interest Rate
The rate of interest will range from 12.50% to 16.60% p.a. It will depend on the customer’s credit score, credit history and the relationship with the bank, and finally the bank’s internal policies.
Loan Amount
Starting From Rs. 50,000 up to Rs. 25 lakhs
Interest Rate |
12.50% to 16.60% |
Processing Fee |
From Rs. 999/- Up to 2.0% of the loan amount and applicable Service Tax |
Loan Tenure |
1 to 5 years |
Age |
23 years up to 58 years |
Prepayment Charges |
Up to 5% per annum of principal outstanding plus service tax |
Features of Personal Loan provided by SBI
State Bank of India offers personal loan at highly competitive rate of interest with some seasonal offers in order to meet the varying requirements of customers. SBI offers the personal loan without any collateral or security and there is no restriction on the usage of loan amount provided by the bank. The personal loan provided by State Bank of India comes with multiple salient features, some of the major features of SBI bank personal loans are listed below –
Competitive interest rates
The rate of interest charged on personal loan by SBI is quite low. It is to be noted that rate of interest varies depending upon the type of personal loan and various other factors. The rate of interest on SBI Bank personal loan starts from 12%
Easy Online process
The process of applying for loan is too easy as you just need to fill an online application form with some basic details. Once your form is filled, your application for the loan gets processed.
No hidden cost
While applying for personal loan at SBI, you need not to worry about any hidden charges or extra cost as you need not to pay any.
Low loan processing fee
The loan processing fee charged by the State Bank of India is also very low and minimal. Thus, you need not make heavy payments for getting your loan approved.
24*7 Customer Support
In case you have any doubt regarding personal loan or your loan application then you can contact the customer care officials at any hour of the day. SBI offers 24*7 customer support services for personal loan.
Flexible tenure of repayment
You can decide the tenure of repayment of loan depending upon your funds availability. You can select the tenure of repayment amid 1 to 5 years.
Transparent procedure
The process of loan application is very transparent with SBI, you can easily get to know the status of your application as and when you want.
No requirement of Collateral
SBI personal loans are not provided against any collateral i.e. they are unsecured loan. Thus, you need not have any collateral or security in order to apply for the personal loan.
Special Loan offers
There are multiple loan schemes offered by SBI. These loan offers are for borrowers who fall under a special category defined by the bank and under these schemes you get loan at low interest.
SBI Bank Personal Loan Fees & Charges
| Loan Processing Fees | Up to 2.50% of loan amount, Rs 1,000 to 25,000 |
|---|---|
| Pre-payment Charges | 4% of principal outstanding - 13 to 24 months, 3% of principal outstanding – 25 to 36 months 2% of principal outstanding - >36 months |
| Penalty for late EMI payment | 24% per year on outstanding amount From default date |
SBI Personal Loan Eligibility Criteria
The eligibility criteria to apply for SBI personal loan is quite a basic one, so almost everyone can apply for the loan. Below given is the eligibility criteria for SBI personal loan, have a look –
You must be the citizen of India with age amid 21 to 65 years.
You should either be a self-employed person or a salaried employee.
Your income should exceed the minimum income requirement of the bank.
You should be working for at least 1 yr with the current employer or running a business from min. of 2 yrs.
Documents Required for SBI Personal Loan
Loan Application
Duly filled application for loan needs to be provided
Proof of Identity
Passport/ Aadhar card/ PAN Card/Voter ID/Driving License
Proof of Residence
Electricity bill/ Telephone bill/ Aadhar Card
Proof of Income
ITR of previous 2 last year of salaried employee/ ITR of previous 2 last year of self-employed
Photographs
3 passport size recent photographs
Why to Apply for SBI Personal Loan at Rupee Station?
Rupee Station is an online portal to apply for a personal loan as well as a business loan to any of the bank. At Rupee Station, we help you to get a loan at low-interest rates and in a short span of time. At Rupee Station, you can easily apply and get the personal loan from SBI as we share an exclusive collaboration with State Bank of India.
So, if you are willing to get a personal loan from State Bank of India then just fill up a form at Rupee Station. Once you fill the form with the required basic details, you are almost done as rest of the procedure is followed by our officials. Below given are some of the reasons to apply for SBI Personal Loan at Rupee Station, have a look
Easy loan application
At Rupee Station, you can easily apply for the personal loan as you just need to fill an online form
Option for Personalized Loan
at Rupee Station, you can easily apply for the loan as per your requirement as Rupee Station also provide personalized loan options.
Quick disbursal of funds
Once your application for the personal loan gets approved, you will get the funds in a short span of time i.e. minimum of two days.
Track status of loan application
Once you have applied for the loan, you can easily get to know the status of your loan application in just a few clicks as we provide real-time tracking of loan application.
Instant Customer Support
In case you are facing any issue while processing your loan application or have any query regarding personal loan then you can instantly contact our customer support officer.
Know the Process of applying for the loan at Rupee Station?
The process of applying for loan at Rupee Station is too simple, have a look –
Step 1
Fill the basic details required in the form at Rupee Station.
Step 2
Once we receive the form our representative will call you to know the other required details.
Step 3
Receive the funds in just two days, if your loan application gets approved.
SBI Personal Loan EMI Calculator
If you are looking forward to avail the SBI personal loan with us, you will get the option to pre-check your EMIs and the tenure of repaying the loan amount with our SBI Personal loan EMI calculator tool. You can simply enter all the respective details for the same, and you will get the result on-the-spot. At Rupee Station, the process of calculating the EMI is quite easy and simplified. We would recommend you to use the SBI loan EMI calculator tool before applying for the loan to get a clear idea of the SBI loan interest rates, tenure of repayment and the EMI calculation.
How to use SBI personal loan calculator?
· At first, you need to click on EMI Calculator tool
· Now, simply fill up the form with the relevant details, which include the total loan amount, the tenure, and the applicable interest rate.
· Be patient till the calculation is over, and then you will get the results.
SBI Personal Loan Interest Rates
There are basically two types of interest for SBI personal loan. While the first one is fixed, the second one offers the floating interest rates. As per the latest updates, the current SBI loan interest rates vary from 10.99% to 15.99%, depending on the credit score of the applicants and the eligibility criteria.
Generally, the tenure for repayment of the loan amount is of 5 years; however, it can be flexible, depending upon the situation.
SBI personal loans for Govt employees
If you are a government employee, you will enjoy a few significant benefits as SBI offers special loan schemes to the borrowers belonging to the government sector in India. And, if you are a pensioner under central or state government, or defense forces, you will enjoy an extremely smooth loan-taking process. Some of the special benefits by SBI personal loan for government employees are:
· Lowest interest rates
· You would not be asked to show any collateral.
· You would not be asked to pay any hidden or administrative charges for the loans
· The document verification and loan disbursal process becomes smoother
· You can simply apply for the loan from our website itself
SBI Personal Loan Eligibility
To be honest, the State Bank of India provides loan to all the applicants, if they match up with the SBI loan eligibility criteria. And, the eligibility mostly depends upon a few factors like the Age, income, job stability, loan amount and, most importantly, your credit score. To pass the SBI Personal Loan eligibility test, you must focus on having a good credit score. However, if you are applying with Rupee Station, we also recommend the application of those borrowers who has low credit scores.
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