SBI Personal Loan Key Features
|SBI Personal Loan Interest Rate||9.99% per annum|
|SBI Personal Loan Processing Fee||1% of the loan amount|
|Age||21 – 58 Years|
|CIBIL score||Minimum 700 or above|
|Lowest EMI per lakh||Rs 2105|
|Tenure||Up to 72 months|
|Part Payment Charges||Not Applicable|
|Minimum Loan Amount||Rs. 50,000|
|Maximum Loan Amount||Rs. 20 Lakh|
Each Feature Explained in Detail Below
SBI Personal Loan Eligibility Criteria
Eligibility criteria for a personal loan:
|CIBIL score||700 and Above|
|Min Income||Rs 15000/month|
SBI Personal Loan Fees and Other Charges
|SBI Personal Loan Interest Rate||9.99%|
|SBI Personal Loan Processing Charges||1% of the loan amount|
|Stamp Duty||As per state laws|
|Cheque Bounce Charges||As per bank terms|
|Floating Rate of Interest||Not Applicable|
SBI Personal Loan Documents Required
|Form||Duly filled application form|
|Proof of Identity||Copy of:
> Driving License
> Aadhar Card
> Voter ID Card
|Proof of Address||Rent Agreement (Min. 1 year of stay)
Passport (Proof of permanent residence)
|Proof of Income||> ITR: Last two Assessment years
> Salary Slip: Last 6 months
> Bank Statement: Last 3 months
SBI Personal Loan EMI Calculator
SBI Personal Loan Comparison with Other Banks
|Bank||Interest Rate||Tenure||Loan Amount & Proc Fee|
|SBI||9.99%||6 to 72 months||Up to Rs. 20 lakh / Up to 1.50% of the loan amount|
|HDFC Bank||11.25% to 21.50%||12 to 60 months||Up to Rs. 40 lakh / Up to 2.50% of the loan amount|
|Bajaj Finserv||Starting from 12.99%||12 to 60 months||Up to Rs. 25 lakh / Up to 3.99% of the loan amount|
|Axis Bank||15.75% to 24%||12 to 60 months||Rs. 50,000 to Rs. 15 lakh / Up to 2% of the loan amount|
|Citibank||Starting from 10.99%||12 to 60 months||Up to Rs. 30 lakh / Up to 3% of the loan amount|
|ICICI Bank||11.50% to 19.25%||12 to 60 months||Upto Rs. 20 lakh / Up to 2.25% of the loan amount|
Other Loan Products from SBI
|Gold Loan||Car Loan||Home Loan||Business Loan|
|TWL||LAP||Credit Card||Education Loan|
Why should you apply for SBIPersonal Loan with Dialabank?
Dialabank helps you choose the best option of banks by providing you with the updated market comparison of various banks and make the right choice. We at Dialabank have already helped thousands of people to get the loan they need without any issue, and we look forward to continuing in doing so. Apply with us today to get the offers and exclusive deals on SBI Personal Loan.
Call us at 9878981166 to avail of SBI Personal Loan.
How to Calculate EMIs for SBI Personal Loan
Calculate your EMIs using the calculator below.
SBI Personal Loan Processing Time
SBI usually takes two weeks or 15 days when it comes to the Processing of Personal Loan Applications. However, SBI approves the loan in just a few hours to a maximum of 1-3 days to its pre-approved already existing account holders.
SBI Personal Loan Preclosure Charges
SBI gives you the option of pre-closing your loan after a period of a minimum of 12 months of taking the loan and paying 12 successful EMIs on your mortgage. However, SBI charges a Prepayment or Pre-closure charge of 3%.
Pre Calculated EMI for Personal Loan
*Note – All EMIs are calculated for a Loan Amount of Rs. 1 Lakh.
Types of SBI Personal Loans
SBI Personal Loan for Marriage
If you have a wedding at your house and are worried about the expenses, then you can apply for a personal loan from SBI and leave out all your financial worries.
SBI Personal Loan for Government Employees
Employees of the central and state government can get a personal loan for their needs. SBI has special offers curated for day to day needs of the government employees.
SBI Doctor Loan
Doctors receive extra benefits and an extended period to repay their personal loans. The rate of interest is discounted too if you have been in practice for more than 3 years.
SBI Personal Loan for Pensioners
This is personal finance that is provided to pensioners and their families who have an existing account with SBI. The family refers to the spouse of the individual who is authorized to receive the pension of a person in the event of death.
State Bank Of India Personal Loan Balance Transfer
Personal Loan Balance Transfer refers to a process where you shift your loan from one lending institution to another. In this, your new bank pays off your previous loan and gives you the loan. You get many benefits if you do this, but you may have to pay the foreclosure charges associated with that loan along with the Processing fee on your new loan.
SBI Personal Loan Top Up
Top up facility on your loan is the additional amount that you borrow from the bank on your existing loan. SBI lets you avail of this facility if you have paid at least nine regular EMIs without any hindrances in payment. You can get a top-up of min ₹50,000 and a maximum of your already sanctioned loan amount.
Home Renovation Loan
SBI provides a home improvement loan to individuals who wish to renovate their home. This personal loan can finance essential repairs or enable the applicant to obtain new home fittings, fixtures and furniture. Some of the main features of SBI Bank Home Renovation Loan are:
- SBI’s Home Renovation Loan interest rate starts at as low as 11.25 per cent.
- Individuals may be eligible for a loan of up to Rs. 20 Lakh to renovate their house.
- Home renovation loan from SBI Bank needs minimal paperwork to free up the entire loan process.
- Usually, the loan amount will be credited to the account within 72 hours after the bank accepts your applications.
SBI Bank’s Holiday Loan will help you plan your dream vacation with minimal difficulty. This personal loan from SBI will finance a variety of holiday-related expenses, including the booking of flight tickets, hotel accommodation, guided tours, etc. The main features of the SBI’s Holiday Loan are:
- Holiday Loans Interest Rates start at 11.25 per cent p.a.
- You can comfortably use up to Rs 20 Lakh so that your dream holiday won’t be ruined due to a financial crunch.
- Simplified and Minimal paperwork ensures that your vacation funding is quick and convenient.
- Fast processing and disbursement of the loan directly credited to your account
The majority of unsecured personal loans are intended for individuals with regular income, while SBI Bank’s Fresher Funding is different. SBI Bank’s loan option is designed to support refreshers, i.e. recent graduates looking for their first job. Some of the main features of SBI Bank Fresher Personal Loan Funding are as follows:
- Loan up to Rs 1.5 lakh
- Applicant must be at least 21 years of age
- The interest rate for Fresher Funding depends on the profile of the applicant, the credit history/score, the age and position of the applicant.
NRI Personal Loan
Understanding the needs and aspirations of NRIs, SBI Bank is providing a personal loan directly to NRIs. The primary loan applicant must be an Indian citizen, and the NRI co-applicant must be a close relative. Personal Loan for NRIs contains the following features:
- SBI Bank provides NRIs personal loans of up to Rs. 10 lakh with flexible end-use.
- Interest rates for NRI Personal Loan start at 15.49% p.a.
- The length of the loan is up to 36 months.
SBI Personal Loan Status
You can check the status of your personal loan by visiting the nearest SBI branch or call their customer care number. You can also contact Dialabank and let us do the hard work.
How to apply for SBI Personal Loan?
You can either visit the physical branches of SBI Personal Loan or visit on Dialabank. Here is how you can do it:
- Visit Dialabank
- You can apply online for SBI Personal Loan through Dialabank.
- At the loan page, you can analyze the loan schemes, interest rates, eligibility, and documents required.
- After analysis, you can select your loan and submit a form with your details.
- After submission, you will be reverted by our representatives.
- Our representatives will help you with the whole loan approval process.
- You can know more by calling on 9878981166.
PL verification process
The following are the main steps of the personal loan verification process following the online submission of your loan application to DialaBank.
Step 1. DialaBank will forward your loan application to your preferred lender, and you will usually receive a call from the lender’s representative within 48 hours.
Step 2. The prospective lender may arrange the compilation of your KYC records, wages, etc. or have an opportunity to upload them online. These records will be used to validate your submission.
Step 3. If the lender’s verification has been completed and your loan has been accepted, you will receive another call to validate the loan offer and request your consent for disbursement.
Step 4. Usually, the loan is disbursed within 48 hours after approval of the loan and satisfactory verification.
Note: The timeline, as mentioned above for the verification/disbursement of personal loans, can differ based on the lender’s internal requirements as well as other parameters.
Check your SBI Bank PL application Status
The procedure for testing the status of your application involves the following steps:
- Visit SBI Bank’s official website, click ‘Stuff’ and pick ‘Personal Loans.’
- On the next page that opens hereafter, press ‘More and pick ‘Check Loan Application Status.’
- First, you can verify your application status by entering information such as your telephone number, date of birth and either entering the OTP that you receive on your mobile number or using your application number.
How to login in SBI Bank portal
- Visit SBI Bank’s official website.
- Click on the ‘Login’ button at the top right corner of the screen.
- Log in using your User ID and Password or registered mobile number.
How to Check Your Loan Statement
Customers can download the bank’s loan statement by taking the following steps:
- Visit the bank’s official website.
- Click on ‘Get in Touch’ and select ‘Service Requests’ from the drop-down list.
- On the next page that opens, under the ‘Loans’ menu, pick ‘Personal Loan Linked.’
- First, press the ‘Ask for Loan Account Statement’ button.
- Log in using your User ID and password or using your registered mobile number and OTP to make use of the bank’s loan statement.
SBI Bank Personal Loan Restructuring (COVID-19)
The national lockdown due to the COVID-19 pandemic has adversely affected several borrowers, and a six-month moratorium on various term loans has been declared to some degree to reduce its effect. Upon completion of the 6-month moratorium, SBI Bank declared a one-time RBI-mandated benefit from the restructuring of SBI Bank’s loan. This mechanism is intended to offer continued relief to borrowers who are still unable to repay their daily EMI due to continuing financial distress arising from the pandemic.
The loan settlement mechanism adopted by SBI Bank allows for an extended moratorium of up to 2 years or an extension of the existing repayment period to minimise monthly EMI payments. It is, of course, necessary to bear in mind that the restructuring of your SBI personal the loan would result in additional interest rates over and above those applied to the original loan. Thus this relief tool can only be used as a last resort so that you do not end up defaulting to your unpaid loan.
SBI Bank Customer Care
Customers can contact the SBI Bank customer care via any of the following means:
- By Phone: You can call SBI Bank on9878981166 (toll-free)
- Callback Request: You can also request a call back by visiting the bank’s website
- Online Chatbot: You can also get your queries answered by the iPal chatbot online
- Branch Visit: You can visit the nearby SBI Bank branch to get your queries
Benefits of Applying for Personal Loan on Dialabank
There are many benefits to applying for a personal loan on the DialaBank website. Some of these are given below:
24 x 7 Accessibility: You can access the DialaBank website at any time and anywhere and also apply for a personal loan from the comfort of your home or office at any time.
Multiple lenders on a single platform: com allows you to access personal loan deals from multiple prospective lenders on a single platform and thus removes the need to visit multiple bank or branch websites.
Know EMI instantly: with your loan EMI calculator on DialaBank.com, you can check the EMIs that you will be paying for on a personal loan right before you apply for one. It will help you borrow the required sum that you can quickly repay and provide a flexible payment plan.
Free of charge: Besides, you are not expected to pay any fees while applying for a personal loan on DialaBank.com.
Below are some important things that you need to remember when applying for a personal loan with SBI Bank:
- When applying for a personal loan, it is always a good idea to check your credit score. A good credit score increases the odds of your personal loan being accepted and can make it easier for you to make use of a personal loan on more favourable terms.
- Until finalising on a specific lender, it is advisable to compare the cost of a personal loan (interest cost and all related fees and charges) provided by different lenders on DialaBank.com.
- Borrow according to your desires and willingness to repay. Evite borrowing simply because you are entitled to borrow a higher amount. It will just add to your interest rate and will not have any long-term benefits.
- Avoid applying for individual loans with several lenders at the same time. This shows you to be credit-hungry and also raises the number of hard requests for your credit report that can adversely affect your credit score.
FAQs About SBI Personal Loan
✅ How to apply for SBI Personal Loan?
You can apply for a personal loan with SBI either through visiting the nearest branch of SBI or simple form submission with Dialabank. With Dialabank, you get the benefit to apply from anywhere and get quick online approval.
✅ What is the Interest Rate for SBI Personal Loan?
SBI charges an interest rate that starts at 9.99% per annum for their personal loan products.
✅ What is the minimum age for getting a Personal Loan from SBI?
You must be at least 21 years old to apply for a personal loan with SBI.
✅ What is the maximum age for getting a Personal Loan from SBI?
The maximum age for availing a personal loan from SBI is 58 years.
✅ What is the minimum loan amount for SBI Personal Loan?
The minimum loan amount for SBI Personal Loan is Rs. 50,000.
✅ What is the maximum loan amount for SBI Personal Loan?
SBI lets you take a maximum loan amount of Rs. 20 lakhs under the personal loan scheme.
✅ What are the documents required for SBI Personal Loan?
You will need an Aadhaar card/Voter ID, PAN card, salary slips/ITR, and two recently clicked photographs for a personal loan from SBI.
✅ What is the Processing Fee for SBI Personal Loan?
SBI charges a processing fee is 1% of the loan amount for the personal loan.
✅ How to get State Bank Of India Personal Loan for Self Employed?
SBI provides special offers for self-employed borrowers to help them meet their monetary needs. You will have to present the ITR files of the last three years as your income proof.
✅ What is the Maximum Loan Tenure for SBI Personal Loan?
The maximum tenure period for a personal loan from SBI is 72 months.
✅ What should be the CIBIL Score for SBI Personal Loan?
You must have a CIBIL score of at least 700 or above for availing a personal loan from SBI.
✅ Do I have a preapproved offer for SBI Personal Loan?
You can examine for your preapproved personal loan offers from SBI with Dialabank. All you have to do is fill the form, and we will check all the offers for you and get back to you to help you choose the best one.
✅ How to calculate EMI for SBI Personal Loan?
You can use the EMI calculator available at Dialabank’s website to calculate your personal loan EMIs from SBI.
✅ How to pay SBI Personal Loan EMI?
Your personal loan EMIs from SBI are automatically subtracted from your bank account on a monthly basis. You can also use the net-banking facility of SBI to pay for your personal loan.
✅ How to close SBI Personal Loan?
You will pay all the outstanding personal loan amount of your personal loan and then contact the SBI branch to receive your no dues certificate.
✅ How to check SBI Personal Loan Status?
You will need the visit the SBI branch to know the status of your personal loan. Alternatively, you can visit Dialabank and fill a simple form to let us do the hard work for you.
✅ How to close SBI Personal Loan Online?
Closing of personal loan from SBI includes the following steps:
- Visit the net-banking page of SBI.
- Login using your details.
- Pay for your personal loan and save the transaction receipt.
✅ How to pay SBI Personal Loan EMI Online?
Your personal loan EMI can be paid using the net-banking services of SBI. Dialabank lets you compare offers and deals from different banks to choose the best, low-EMI personal loan. All you have to do is fill a simple form, and we will do the rest for you.
✅ How to check Personal Loan Balance in SBI?
To check the personal loan balance in SBI, you will need to contact the customer care number of SBI. If you are searching for low-interest personal loans, you can visit Dialabank and fill a simple form for Personal Loan Balance Transfer, and we will do the hard work for you.
✅ How to download SBI Personal Loan Statement?
The personal loan statement of SBI can be downloaded through the SBI mobile banking app. You can visit the online platform of Dialabank and fill a simple form to compare and know about all the offers that we have for you.
✅ How to Top Up Personal Loan in SBI Bank?
If you require a top-up on your personal loan from SBI, you will have to visit the bank branch and contact the loan officer. You can also fill a simple form with Dialabank at Personal Loan Top Up and leave the rest to us.
✅ What happens if I don’t pay my SBI Personal Loan EMIs?
SBI will charge a penal interest if you fail to pay your personal loan EMIs. You can apply for a balance transfer using Dialabank to avail of low-interest personal loans that will not put a hole in your pocket.
✅ How to find the SBI Personal Loan account number?
You will require to contact your SBI loan branch to know your personal loan account number. You may also fill out the form accessible at Dialabank and let us do all the work for you.
Table of Contents
- 1 SBI Personal Loan Key Features
- 2 SBI Personal Loan Fees and Other Charges
- 3 SBI Personal Loan Documents Required
- 4 SBI Personal Loan EMI Calculator
- 5 SBI Personal Loan Comparison with Other Banks
- 6 Other Loan Products from SBI
- 7 Why should you apply for SBIPersonal Loan with Dialabank?
- 8 How to Calculate EMIs for SBI Personal Loan
- 9 SBI Personal Loan Processing Time
- 10 SBI Personal Loan Preclosure Charges
- 11 Pre Calculated EMI for Personal Loan
- 12 Types of SBI Personal Loans
- 12.1 SBI Personal Loan for Marriage
- 12.2 SBI Personal Loan for Government Employees
- 12.3 SBI Doctor Loan
- 12.4 SBI Personal Loan for Pensioners
- 12.5 State Bank Of India Personal Loan Balance Transfer
- 12.6 SBI Personal Loan Top Up
- 12.7 Home Renovation Loan
- 12.8 Holiday loan
- 12.9 Fresher funding
- 12.10 NRI Personal Loan
- 13 SBI Personal Loan Status
- 14 How to apply for SBI Personal Loan?
- 15 PL verification process
- 16 How to login in SBI Bank portal
- 17 How to Check Your Loan Statement
- 18 SBI Bank Personal Loan Restructuring (COVID-19)
- 19 SBI Bank Customer Care
- 20 Benefits of Applying for Personal Loan on Dialabank
- 21 Important Aspects
- 22 FAQs About SBI Personal Loan
- 22.1 ✅ How to apply for SBI Personal Loan?
- 22.2 ✅ What is the Interest Rate for SBI Personal Loan?
- 22.3 ✅ What is the minimum age for getting a Personal Loan from SBI?
- 22.4 ✅ What is the maximum age for getting a Personal Loan from SBI?
- 22.5 ✅ What is the minimum loan amount for SBI Personal Loan?
- 22.6 ✅ What is the maximum loan amount for SBI Personal Loan?
- 22.7 ✅ What are the documents required for SBI Personal Loan?
- 22.8 ✅ What is the Processing Fee for SBI Personal Loan?
- 22.9 ✅ How to get State Bank Of India Personal Loan for Self Employed?
- 22.10 ✅ What is the Maximum Loan Tenure for SBI Personal Loan?
- 22.11 ✅ What should be the CIBIL Score for SBI Personal Loan?
- 22.12 ✅ Do I have a preapproved offer for SBI Personal Loan?
- 22.13 ✅ How to calculate EMI for SBI Personal Loan?
- 22.14 ✅ How to pay SBI Personal Loan EMI?
- 22.15 ✅ How to close SBI Personal Loan?
- 22.16 ✅ How to check SBI Personal Loan Status?
- 22.17 ✅ How to close SBI Personal Loan Online?
- 22.18 ✅ How to pay SBI Personal Loan EMI Online?
- 22.19 ✅ How to check Personal Loan Balance in SBI?
- 22.20 ✅ How to download SBI Personal Loan Statement?
- 22.21 ✅ How to Top Up Personal Loan in SBI Bank?
- 22.22 ✅ What happens if I don’t pay my SBI Personal Loan EMIs?
- 22.23 ✅ How to find the SBI Personal Loan account number?