SBI Personal Loan

State Bank of India is one of the oldest banks of India. The bank was founded in 1955. It is a government-owned bank of India. The bank provides so many financial products to the customer. It includes banking, loans, insurances, credit cards. It is a public sector bank. Under loans, it provides a personal loan, a gold loan, a car loan or a home loan, but the personal loan is a widely purchased product. The bank has been serving the people for so long, so people trust the policies of the bank.

What is a Personal Loan?

A personal loan is a type of loans. In this kind of loan, you borrow the money from the bank at some rate of interest for a given period of time. You have to return this amount of loan with the rate of interest within the tenure of the loan. Furthermore, SBI personal loan comes under the category of unsecured loans. It means the bank would not ask for any collateral to you. You don’t have to pledge any of your property as a security to the bank.

Where Can You Use Your Loan Amount?

  1. You can use this amount of personal loan according to your needs. You can make the use of loan amount to fulfil any of your personal need. The good thing about the SBI personal loan is that the bank wouldn’t ask you the reason to get the personal loan neither the bank puts any restrictions on the use of the loan amount. Here some basic uses of a personal loan are given.
  2. Most people get a personal loan for the wedding purposes. This is quite obvious because the wedding day is very important to a person, everybody wants to make it beautiful as they can.
  3. After that, if somebody is having a problem with his/her education or the education of their children then also they prefer to get a personal loan.
  4. Besides that, some people prefer to get a personal loan to boost up their business.
  5. A personal loan can also be helpful for the renovation of the home because the home is a place that is close to every family member and everyone wants to make it beautiful. So this can also be a reason to get a personal loan.
  6. Unfortunately, if you are going through any financial crises and having a problem in maintaining your budget then you can get a personal loan.
  7.  A person can also pay his credit card bills by using an SBI personal loan.
  8. In case of any medical emergency, the personal loan is quite helpful.
  9. Some people get a personal loan to buy a second-hand car too because while buying a second-hand card it becomes quite troublesome to get a car loan, so they go for the personal loan.
  10. Farmers like to get a personal loan for their agricultural activities.

These are some common reasons for people get a personal loan. However, there is no specific reason to get a personal lSBI personal loan is the best way to get finance for your requirements. You can apply online or call on customer care number of Dialabank +91-98789-81166 for a personal loan from SBI. To get personal loans, you must fulfil the eligibility criteria as defined by the bank. A credit score is one of the important eligibility factors. To avail personal loan from SBI, one must have the credit score of more than 700. It depends upon your banking history. State bank of India provides vast options of personal loans for the people. Some of these schemes are:

 

  1. SBI Xpress Credit Loan - This is a special scheme for individuals employed in government organizations, PSUs, Leading semi-government organizations and other leading private sector companies.
  2. SBI Saral Personal Loan - This loan scheme is for people employed in the corporate sector, or for one who is a self-employed professional such as a doctor, engineer, lawyer, and so on.
  3. SBI Loans to Pensioners - This is a personal finance that is provided to pensioners and their family who have an existing account with SBI. The family refers to the spouse of an individual who is authorized to receive the pension of a person in the event of the death.
  4. SBI Loans to Affluent Pensioners - This is a loan that is offered to pensioners i.e. people retired from central or state institutions, or whose pensions are disbursed by the government or family pensioners.
  5. Festival Loan - These loans are provided by the banks to people to pay for any festival expenses for government employees, self-employed individuals or salaried people.

If you are an NRI, the SBI  personal loan norms may vary for you. The minimum salary criterion for an NRI is Rs. 30000 and you can get only 5 lacs as maximum loan amount. Check SBI personal loan interest rates, list of documents, features, and processing fees,  updated as per 2015-16.

Benefits and Features

A personal loan can be taken for different needs. If you need finance, you can borrow from financial institutions. There are different rules and criteria to get a personal loan. One must check its eligibility for getting loan amount. Personal loans are multipurpose finance options. There are various benefits of taking a personal loan online. You can avail a good deal by comparing offers and finalizing the best one as per your needs. Here are some benefits of personal loan:

A Loan without any collateral or security: A Personal Loan is not a secured loan. Banks don’t ask for any security or collateral. So, there is no need of pledging a collateral or security. It is purely given as per the customers' income.

Simple Documentation: Personal Loans are simple and easy. You can get it with minimum documentation with a quick process. Banks need some basic documents of a borrower like identity proof, address proof, income proof, etc.

Loan Amount: The amount can be ranging from Rs. 50,000 to Rs. 20 lakh.

Quick Loan Approval: It is easily sanctioned within 48-72 hours without any hassle. After getting the documents, banks will do the verification of the given details and the loan will get disbursed within 24 hours of verification.

Multipurpose finance: Personal loan can be used for various purposes i.e. in paying old bills, home improvements, wedding shopping, financing trips and many more.

No Third party involvement: The loan is directly given to the borrower without an involvement of the third party. It is a relationship between the borrower and the lender.

Hassle free: Getting a personal loan is now a hassle-free process. Online loan portals have made it more convenient and easy. You can get the loan amount in your account without stepping out of your place.

Avail the benefits of a personal loan by applying online. Get the best deal and lowest interest rates with a quick approval. Call 60011600 or 9878981166.

Other Leading Personal Loan Providers (Click to Apply)

HDFC Personal Loan

Axis Bank Personal Loan

PNB Personal Loan

SBI Personal Loan

ICICI Bank Personal Loan

Citibank Personal Loan

Bandhan Bank Personal Loan

Bank of Baroda Personal Loan

Fullerton India Personal Loan

Personal Loan from Other Banks

A Personal loan is an immediate finance provided by the lender to the borrower. The borrower can avail personal loan from any lending institution, private sector bank as well as from government sector banks. Personal loan interest rates vary according to banks and customer profile. Some Institutions provide special offers to their regular customers like affordable interest rates, low processing fee, affordable EMIs and long tenure period. Check interest rates offered by different banks in the country.

Personal Loan Interest Rates - Updated Saturday 6 Oct 2018

Banks

CAT A Company

CAT B Company

CAT C & CAT D Company

Pre-Payment Charges

Processing Fees

HDFC Bank

13.00%- Salary Rs. 70000 or above

14.00%- Salary Rs. 70000 or above

16% and above

1.00 % to 4.00 %

2.00% to 2.5%

13.25%- Salary Between 50000 to & 70000

14.25%- Salary Between 50000 to & 70000

14.00%- Salary Between 30000 to & 50000

14.50% - Salary Between 30000 to & 50000

14.00%- Salary Below 30000

14.75%- Salary Below 30000

ICICI Bank

13.00% to 14.00%

13.50% to 15.00%

14.00% to 15.00%

2.00% to 5.00%

2.00%

Fullerton India

17.25% to 22.00%

17.25% to 25.00%

18.00% to 32.00%

NA

2.00%

Bajaj Finserv

13.99% - 16.75%

13.99% - 16.75%

13.99% - 16.75%

N.A.

2.00% - 3.00%

Axis Bank

16.00% to 18.00%

18.00% to 20.00%

18.50% to 22.00%

Special Offers

2.00%

Citibank

16.00%- Salary Up to 30000

17.00%- Salary Up to 30000

17.00%- Salary Up to 30000

3.00%

1.00% to 2.00%

15.00%- Salary above 30000

16.00%- Salary above 30000

16.00%- Salary above 30000

N.A.

N.A.

Standard Chartered Bank

16.00% to 17.00%

17.25% to 18.50%

18.25% to 19.00%

N.A.

N.A.

United Bank Of India

16.00% to 18.00%

16.00% to 18.00%

16.00% to 18.00%

N.A.

N.A.

State Bank of India and Group

16.75% to 21.00% with Guarantor 

16.75% to 21.00 % with Guarantor 

16.75% to 21.00% with Guarantor 

4.00%

2.00% to 3.00%

Kotak Bank

18.00% to 19.00%

18.00% to 19.00%

18.00% to 19.00%

4.00%

2.00%

Corporation Bank

14.50% to 17.00%

14.50% to 17.00%

14.50% to 17.00%

N.A.

1.5% to 5.00%

Andhra Bank

15.75% to 18.75%

15.75% to 18.75%

15.75% to 18.75%

N.A.

2.00% - 3.00%

Bank of Baroda

15.00% to 17.00%

15.00% to 17.00%

15.00% to 17.00%

N.A.

2.00%

ING Vysya

15.00%- Salary Rs. 70000 or above

15.50% to 16.50% Salary Rs. 70000 or above

16.5% to 18.00% Salary Rs. 70000 or above

4.00%

2.00%

Vijaya Bank

16.00% to 18.00%

16.00% to 18.00%

16.00% to 18.00%

N.A.

N.A.

 

 

How to avail the lowest personal loan Interest Rates?

Following are the features of lowest interest rates:

  1. Company Profile: The company profile may impact a lot in terms of interest rates. Banks have categorized the companies in different categories. They offer interest rates as per the category of company. So, if you are looking for a good deal, do check your company category.
  2. Online Comparison: Person should do a detailed research online to compare the interest rates of all lenders. It helps the borrower to choose the best lender that suits their requirements. A person can use various tools like EMI Calculator, online comparison portals, loan helplines, etc.
  3. Negotiate with the lender: In case a consumer is already a customer of the lender, then chances of getting a good discount on interest rates will be more.
  4. Co-borrower: If a borrower’s credit rating is low then, the borrower can merge the income of spouse/father/mother to increase the loan eligibility.

Apply Now to get Best Personal Loan Interest Rates.

Leading Personal Loan Providers (Click to Apply)

Citibank

SBI

Axis Bank

Other Banks

 

 

What is the Need for a Personal Loan?

A personal loan is a finance that is taken by an individual to fund some of their needs in times of urgent situations. This can be to pay off previous debts by an individual, purchase some electronic commodity, pay medical expenses and other purposes. A personal debt is an unsecured loan. However, due to this, the eligibility criteria for the personal loan is strictly checked as the bank takes an enormous risk without taking collateral. Banks ask for salary slips or form 16, bank statements, current address proof and some other documents to process your personal loan.

Also, the interest rates charged are higher on these finances as compared to the secured loans like a home loan or a car loan. There are times when we need urgent funding within a few hours. A personal loan is advantageous in such a situation as it is approved within 48 hours, provided the documentation is correct and as required by the lenders.


APPLY FOR SBI PERSONAL LOAN AND GET APPROVAL IN JUST 4 HOURS!

Personal loan

Apply For Personal Loan Call Us on (City Code) 60011600


Loan Amount Available:

The personal loan limit is determined by the repaying capacity and creditworthiness of the person.

  1. Minimum Loan amount: Rs.25,000/
  2. Maximum loan amount: 18 times Net Monthly Income for Salaried Individuals and it may vary as per the profile of an individual.

About SBI: State Bank of India, often referred to as SBI, is the leading provider of retail assets in the country. Retail assets refer to the loans that they provide to the people. Asiamoney Polls has awarded the State Bank of India as the Best Provider of Financial Services by the customers.

Get a quick approval for your loan application form and track it with the help of Dialabank.  Apply now to get the detailed information about the procedure.

Leading Personal Loan Providers (Click to Apply): Get quotes across the leading banks

  1. HDFC Personal Loan
  2. Citibank Personal Loan
  3. Axis Bank Personal Loan
  4. PNB Personal Loan
  5. ICICI Bank Personal Loan
  6. Bandhan Bank Personal Loan
  7. Bank of Baroda Personal Loan
  8. Fullerton India Personal Loan
  9. Personal Loan from Other Banks

SBI Personal Loan EMI Calculator SBI Personal Loan Interest Rates
SBI Personal Loan EMI Calculator SBI Personal Loan Interest Rates