State Bank Of Indore Personal Loan offers general Purpose Loan for Individuals viz. purchase of new consumer durable articles such as computers, televisions, refrigerators, air-conditioners, music systems, kitchen appliances, furniture, carpets etc. Also for meeting customer specific needs like expenses on marriage, family functions, medical treatment, education, travel etc.
Eligibility: State Bank Of Indore Personal Loan
Employees of Govt./ PSUs / reputed profit making public limited companies/reputed educational Institutions with minimum 2 years service.
Self-employed engineers, doctors, architect, CAs, MBAs, with minimum 2 years standing. They should be 60 years of age or less.
Pensioners of Govt. / PSUs. Public Sector Banks who have taken VRS and are of 60 years of age or less.
Minimum Net Monthly Income Rs. 5,000/- per month or Rs.60000/ per annum.
- Minimum Rs.24000/-
Maximum 12 times of NMI with a ceiling of Rs.5.00 lacs (Rs.1.50 lacs for pensioners.)
- NIL (Minimum Score on a credit scoring model required)
- Maximum 48 months.
No prepayment penalty.
State Bank of Indore Personal Loan Interest Rate:
SBI Personal Loan rate is calculated on benchmark prime lending rate = 13%, and stands as follows:
- Salaried: BPLR + 2% = 15%
- Self-employed / professionals etc (based on credit-rating):
Credit score of above 60 or more: BPLR + 2% = 15%
Credit score of less than 60: BPLR + 3.50% = 16.5% levied on State Bank of Indore Personal Loan.