In today’s busy life, we may face emergencies and require urgent funds to take care of them. We spend money on vacation, education, property, vehicles, marriage, medical emergencies, etc., and we need to arrange huge amounts in a short period of time. In these times, personal loans are very important.
SBI one of the biggest banks in India offers personal loans at very attractive rates to its customers. There are many types of SBI personal loans, based on the needs of its customers like salaried, self-employed, or retired.
In this blog, you will get complete detailed information about how to take an SBI Personal Loan, Interest Rate, Eligibility, Required Documents, the Complete process of how to apply for an SBI Personal Loan online & offline, Processing fees, Pre-Closure, Features of SBI Personal Loan, SBI Personal Loan Calculator, types of SBI Personal Loan, Tenure, SBI Personal Loan Customer care number, and FAQ.
SBI Personal Loan Details
| Bank Name | State Bank of India |
| Loan Type | Personal Loan |
| Loan Amount | ₹ 25,000 to ₹ 20,00,000 |
| How to apply | Online or Offline |
| Loan Tenure | 6 months to 6 years |
| SBI Personal Loan Interest Rate | 11.00% and 15.30% per annum |
| SBI Personal Loan Processing Fee | 1.50% of Loan AmountMinimum ₹1000 to Maximum ₹15000 + GST.Festive Offer is currently in effect until 31st January 2025, when the processing fee is waived |
| Pre Closure Charges | NO pre-closure charges |
| EMI Bounce charges | ₹250 + GST |
| Minimum Salary Requirement | ₹15000 |
| Penal Interest | 2% + GST |
SBI Personal Loan Types
SBI Personal Loan is offered to its customers in multiple ways. Below you will find all types of SBI Personal Loans in detail.
SBI Xpress Credit Personal Loan for Salaried
In this, SBI Personal Loan is offered to SBI account holders having salary accounts with SBI. To avail of this personal loan, there are some things you should know about like Eligibility, who can apply, loan amount, features, etc.
SBI Personal Loan Eligibility for Salaried Employees
1) You should have a Salary account with SBI.
2) Your monthly salary should be a minimum of ₹15000.
3) Your EMI ratio or Net Monthly Income (NMI) should be less than 50% of your monthly income.
4) Employees working with
Central/ state/quasi-government,
Central PSUs and profit-making state PSUs,
Educational institutions of national repute,
and Selected corporates with or without a relationship with the bank.
SBI Xpress Credit Personal Loan Amount
Term Loans Amount
Minimum Loan Amount – Rs. 25,000
Maximum Loan Amount – Rs. 20 lakhs / 24 times NMI
Overdraft Loans Amount
Minimum Loan Amount – 5 lakhs
Maximum Loan Amount – Rs. 20 lakhs / 24 times NMI
The Second Loan is eligible at any time after the first loan’s disbursement, subject to an overall EMI/NMI ratio of 50%.
The second Loan is eligible only on regular EMI repayments of the first loan.
SBI Xpress Credit Interest Rate
- Applicants of Defence/ Central Armed Police/ Indian Coast Guard
Term Loan – minimum of 11.05% and 14.05% per annum
Overdraft facility an additional interest rate of 0.50% over the Term loan is charged.
- Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status
Term Loan – minimum of 11.05% and 14.05% per annum
Overdraft facility an additional interest rate of 0.50% over the Term loan is charged.
- Applicants of Other Corporates
Term Loan – minimum of 11.30% to a maximum of 13.60%
Overdraft facility an additional interest rate of 0.50% over the Term loan is charged.
SBI Xpress Credit Other Charges
- Prepayment Charges of 0% on prepaid amount. No prepayment or foreclosure charges will be levied if you close the loan from the proceeds of the second loan under the same scheme.
- Penal Interest of 2% would be charged over and above the applicable interest rate on the overdue amount.
- Repayment Period of 6 months to 6 years.
SBI Xpress Credit features
- You can take a personal loan up to ₹ 20 lacs.
- Lowest Interest Rate.
- Interest is charged on a Daily Reducing Balance Basis.
- Low Processing Charges.
- Minimal Documentation.
- Zero hidden cost.
- Provision for the second loan.
- No collateral or security is required.
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SBI Quick Personal Loan
SBI Quick Personal Loan is offered to individuals not having a salary account with SBI. so, even if you don’t have a salary account with SBI and if you need money for your personal needs you can apply online and benefit from the low interest rates through the loan.
You can apply through the CLP portal and get the loan in 59 minutes.
Click Here – https://www.sbiloansin59minutes.com/personal-loan
SBI Personal Loan Eligibility for Salaried Employees without Salary Account.
- You can apply for this loan even if you don’t have a Salary account with SBI.
- Your age should be between 21 and 58 years.
- Your minimum service with your current company should be 1 year.
- Your minimum monthly salary should be ₹ 15,000.
- Your EMI / Net Monthly Income (NMI) ratio should be less than 50% of your monthly salary.
- Employees working with
Central/ State/ Quasi Governments,
Central & State PSUs
Corporate (Private & Public Ltd.)
Educational institutions of National Repute
SBI Quick Personal Loan Amount
The minimum loan amount under this scheme is ₹24,000 and the maximum is ₹20,00,000 or 24 times Net Monthly Income.
SBI Quick Personal Loan Interest Rate
- Applicants of Defence/ Central Armed Police/ Indian Coast Guard
Term Loan – minimum of 11.40% and 14.55% per annum
- Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status
Term Loan – minimum of 11.40% and 14.55% per annum
- Applicants of Other Corporates
Term Loan – minimum of 11.55% to a maximum of 14.85%
SBI Quick Personal Loan Other Charges
- Processing Fees – 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-) + GST. SBI have a festive offer waiving processing fees until January 31, 2025.
- Prepayment Charges of 1.5% on prepaid amount. No prepayment or foreclosure charges will be levied if you close the loan from the proceeds of the second loan under the same scheme.
- Penal Interest of 2% would be charged over and above the applicable interest rate on the overdue amount.
- Repayment Period of 6 months to 6 years.
SBI Quick Personal Loan Documents required
- Income Tax Return (To be uploaded on CLP)
- Bank Account Statement for the last 6 months (To be uploaded on CLP)
- 2-passport size photographs
- Latest 3-month Salary Slip
- Proof of Identity & Current/ Permanent Address, as per the Bank’s KYC guidelines
- Authorized Branch: Applicant should select any SBI branch on CLP near to the place of his/ her present posting or home.
SBI Quick Personal Loan Features
- You can take a personal loan up to ₹ 20 lacs.
- Lowest Interest Rate.
- Interest is charged on a Daily Reducing Balance Basis.
- Low Processing Charges.
- Minimal Documentation.
- Zero hidden cost.
- Provision for the second loan.
- No collateral or security is required.
SBI Xpress Elite – SBI Personal Loan for Monthly income of ₹ 1,00,000 & above
SBI Xpress Elite is offered to individuals having a net monthly income of more than ₹1,00,000 with SBI bank or any other bank.
SBI Xpress Elite Personal Loan Eligibility
- You should have a salary account with SBI or any other bank.
- Your monthly income should be more than ₹1,00,000.
- Your EMI ratio or Net Monthly Income (NMI) should be less than or equal to 60% of your monthly income.
- Employees working with
Central/ State/ Quasi Governments,
Defence/ Central Armed Police/ Indian Coast Guard,
Central & State PSUs,
Corporates (Private & Public Ltd.),
Educational institutions of National Repute
SBI Xpress Elite Personal Loan Amount
The minimum loan amount under this scheme is ₹1,00,000 and the maximum is ₹35,00,000 or 24 times Net Monthly Income.
SBI Xpress Elite Personal Loan Interest Rate
If you have salary account with SBI, then the interest rates are 11.45% to 11.95% per annum
If you have salary account with any other bank, then the interest rates are 0.25% higher at 11.70% to 12.20% per annum
SBI Xpress Elite Personal Loan Other Charges
- Processing Fees – 1.50% of the Loan Amount (subject to minimum ₹1000/- & maximum ₹15000/-) + GST. However, there is a festive waiver on the processing fee until 31st January 2025.
- Prepayment Charges of 0% on prepaid amount. No prepayment or foreclosure charges will be levied if you close the loan from the proceeds of the second loan under the same scheme.
- Penal Interest of 2.40% would be charged over and above the applicable interest rate on the overdue amount.
- Repayment Period of 6 months to 72 months or remaining period of service (whichever is lower)
SBI Xpress Elite Personal Loan Documents required
- Income Tax Return
- Bank Account Statement for the last 6 months
- 2-passport size photographs
- Latest 3-month Salary Slip
- Proof of Identity & Current/ Permanent Address, as per the Bank’s KYC guidelines
SBI Quick Personal Loan Features
- You can take a personal loan up to ₹ 35 lacs.
- Lowest Interest Rate.
- Interest is charged on a Daily Reducing Balance Basis.
- Low Processing Charges.
- Minimal Documentation.
- Zero hidden cost.
- Provision for the second loan.
- No collateral or security is required.
SBI Pre-Approved Personal Loans on YONO
SBI Pre Approved Personal Loan is offered to customers having bank accounts with SBI.
SBI Pre-Approved Personal Loan Eligibility
SMS “PAPL<space><last 4 digits of SBI Savings Bank Account No.>” to 567676 to check your eligibility
Please note that this is a pre-approved offer and you cannot apply for this loan, it is approved by SBI for its account-holding customers.
SBI Pre-Approved Personal Loan Amount
SBI has pre-approved the offer, hence only SBI account holders whose accounts are selected for this offer will be able to see it in the pre-approved loan section. The pre-approved amount will be shown in the loans section.
How to avail of SBI Pre Approved Personal Loan
Step 1: Log in to YONO
Step 2: Click on Avail Now
Step 3: Select Tenure & Amount
Step 4: Enter OTP -> Amount Credited
SBI Real-Time Xpress Credit Personal Loans on YONO (RTXC)
RTXC is designed for Government and Defence Salary account holders of the SBI. This facility provides Xpress credit loans of up to ₹35,00,000 and can be availed 24*7 on the YONO app.
This facility can be availed in 2 modes that are Digital Document Execution (DDE) & Non-DDE.
- Digital Document Execution (DDE): Real-time sanction, digital documentation, and real-time disbursement at DDE-enabled States/ UTs.
- Non-DDE: Real-time sanction, document execution at branches, and single-click disbursement in RLMS.
SBI Real-Time Xpress Credit Personal Loan Amount
The minimum loan amount under this scheme is ₹1,00,000 and the maximum is ₹30,00,000 or 24 times Net Monthly Income for RTXC and a maximum of ₹35,00,000 for RTXC Elite.
SBI Real-Time Xpress Credit Personal Loan Interest Rate
Interest Rate of 11.05% to 14.05%
Loan Tenure of 6 months to 72 months.
SBI Real-Time Xpress Credit Personal Loan Other charges
- Processing fees will be charged at 1.50% of the loan amount + GST
- Penal Interest @2.40% would be charged over and above the applicable interest rate on overdue amounts for the period of default.
- The Loan will be repayable by way of EMIs. Standing Instruction (SI) for EMI payment will be automatically set up on the Salary Package Account of the customer.
- The Loan Account will be closed/ pre-closed at the Home Branch/through the app/portal by the customer, after recovering residual dues from the Customer.
SBI Real-Time Xpress Credit Personal Loan Eligibility
- You should have a Government or Defence salary account with SBI and your account should be KYC compliant.
- Minimum Net Monthly income should be ₹15,000 for RTXC
- Minimum Net Monthly income should be ₹1,00,000 for RTXC Elite
- Your EMI ratio or NMI ratio should be smaller than or equal to 50% for RTXC and should be smaller than or equal to 60% for RTXC Elite.
SBI Real-Time Xpress Credit Personal Loan Features
- Instant loan disbursement.
- Aadhar OTP-based e-sign of customer
- Step-by-Step Guided e-mail and SMS Communication System.
- Digitization of entire loan documentation processes viz. loan application, loan agreements, stamping, and signature at DDE enables States/ UTs.
SBI Personal Loan Interest Rate
SBI Personal Loan Interest Rates depend on the customer’s job or business profile, risk profile, etc. Find the below table for your understanding.
| Type of Applicants | Interest Rate |
| SBI Xpress Credit Personal Loan | |
| Applicants of Defence/ Central Armed Police/ Indian Coast Guard | 11.05% and 14.05% per annum |
| Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status | 11.05% and 14.05% per annum |
| Applicants of Other Corporates | 11.05% and 14.05% per annum |
| SBI XPRESS ELITE Personal Loan | |
| Salary Account with SBI | 10.30% to 11.80% per annum |
| Salary Account with other Bank | 10.55 to 12.05% per annum |
| SBI Xpress Lite Personal Loan | |
| Applicants of Defence/ Central Armed Police/ Indian Coast Guard | 11.45% to 11.95% per annum |
| Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status | 11.45% to 11.95% per annum |
| Applicants of Other Corporates | 11.45% to 11.95% per annum |
| SBI QUICK PERSONAL LOAN SCHEME THROUGH CLP PORTAL(for the customer not maintaining a salary account with SBI) | |
| Applicants of Defence/ Central Armed Police/ Indian Coast Guard | 11.40% and 14.55% per annum |
| Applicants of Central Govt./ State Govt./ Police / Railway/ Central Public Sector Enterprises (CPSEs) Considered Under ‘RATNA’ Status | 11.40% and 14.55% per annum |
| Applicants of Other Corporates | 11.40% and 14.55% per annum |
| SBI XPRESS CREDIT INSTA TOP-UP PERSONAL LOANS | |
| Interest rate | 11.05% per annum |
| SBI PRE-APPROVED PERSONAL LOANS (PAPL) TO NON-CSP CUSTOMERS THROUGH YONO | |
| Interest Rate | 9.60% to 13.85% per annum |
| SBI PENSION LOAN SCHEMES | |
| SBI Pension Loan | 1.20% per annum |
| Jai Jawan Pension Loan | 11.30% per annum |
| Pension Loan Scheme For Treasury & PSU Pensioners | 11.30% per annum |
| Pre-Approved Pension Loans(PAPNL) | 10.20% per annum |
| Pre-approved Insta Pension Top-Up | 11.30% per annum |
SBI Personal Loan Eligibility
I have mentioned SBI personal loan eligibility in the types of personal loans section. But these are the common eligibility criteria, find them below.
- Your age should be between 21 and 58 years.
- Your minimum salary requirement is ₹ 15,000.
- You can apply even if you don’t have a salary account with SBI.
SBI Personal Loan Documents
Along with SBI Personal Loan Application Form, you will need a few documents to avail of a loan. You will need to furnish the following SBI Personal Loan Documents.
- 2 Passport sized photographs.
- Identity Proof
- Photocopy of PAN Card
- Passport
- Driver’s License
- Voters ID
- Aadhaar Card (any one of the above)
- Address Proof
- Recent Telephone Bill/Electricity Bill
- Property Tax Receipt
- Passport
- Voter’s ID Card
- Aadhar Card (any one of the above)
- Proof of Income
- Bank statement of last 6 months of account where salary is credited.
- Income Tax Return.
- Last 6-month salary slip/bank statement.
- Last 2 years ITR and bank account statements for Self-employed individuals.
Apply for an SBI Personal Loan
It is very easy and convenient to apply online for SBI Personal Loan. Please follow the below steps to apply hassle-free.
Step 1 – SBI Personal Loan Portal
You can visit the SBI site and apply for a personal loan or click on the link below to directly visit the SBI personal loan section.
SBI Personal Loan Apply Online
Step 2 – Relationship with the Bank
When you reach this section it will ask you if you have an account with SBI or a deposit or Salary account with the bank. If your answer is yes then complete the few details like SBi bank account number and mobile number and click on submit and you will get an offer from the bank.
Step 3 – No Relationship with the Bank
If you don’t have any relationship with SBI and you select “NO”, then a new page will open. Here you will have to enter some details like Date of Birth, income details, workplace details, and contact details. Complete the details accurately and click on “GET LOAN QUOTE”
Step 4 – Loan Offer
In this section, it will offer you a quote of how much loan you are eligible for according to the details you have entered.
Step 5 – Complete Application
Once you have got the quote from the bank and finalized the amount of loan and tenure you want. Then in this step, you will have to upload all the documents like PAN card, Aadhar card, Salary Slip, Income proof, bank statement, and bank details.
Once you complete this step your application for SBI Personal Loan is complete.
Step 6 – Bank Verification
In this step the bank will start the verification process to verify your details like work, address, etc.
Step 6 – Loan Disbursal
Once the verification is done and everything is clear, the bank will disburse your loan directly to your bank account.
SBI Personal Loan Apply Offline
If you are not comfortable applying online then you can apply for SBI personal loan offline. Please follow the steps below to apply offline hassle-free.
Step 1 – Visit your nearest SBI Personal Loan Branch.
Step 2 – Request a Personal Loan Application form.
Step 3 – Complete the application form accurately and submit it along with the documents.
Step 4 – On receipt of the application form, the bank will start the verification process.
Step 5 – On completion of verification, the bank will inform you via email and SMS that your application is approved and the loan amount is approved.
Step 6 – You will have to sign the agreement with the bank and the loan will be disbursed directly to your bank account.
SBI Personal Loan Features
- You can take an SBI personal loan up to ₹ 35 lacs.
- Lowest Interest Rate on SBI Personal Loan as compared to other banks.
- SBI Personal Loan Interest Rate is charged on a Daily Reducing Balance Basis.
- The processing fees for SBI Personal Loan are the lowest in the market at 1.5%.
- If you have a salary account with SBI, then Minimal Documentation is required to avail of a personal loan.
- Zero hidden cost.
- Provision for the second loan.
- You are not required to give any collateral for SBI Personal Loan.
SBI Personal Loan Calculator
SBI Personal Loan EMI Calculator is based on a monthly reducing balance method, which means the interest on your EMI is calculated on the outstanding loan amount.
Refer to the table for an SBI Personal Loan of ₹1,00,000 for different tenures and interest rates.
| Interest Rate | Tenure | EMI (Per Lac) | Total Interest | Total Payment |
| 10.30% | 1 Year | ₹ 8,806 | ₹ 5,672 | ₹ 1,05,672 |
| 10.70% | 2 Year | ₹ 4,647 | ₹ 11,528 | ₹ 1,11,528 |
| 11.50% | 3 Year | ₹ 3,298 | ₹ 18,728 | ₹ 1,18,728 |
| 12.60% | 4 Year | ₹ 2,663 | ₹ 27,824 | ₹ 1,27,824 |
| 15.65% | 5 Year | ₹ 2,150 | ₹ 29,000 | ₹ 1,29,000 |
SBI Personal Loan through the YONO App
Please follow the steps to Download, Install and Apply on the YONO App.
Step 1 – From your Android phone download YONO App from Google Play Store.
Step 2 – Install the YONO App with your mobile number and enter the OTP sent on the number.
Step 3 – Once you open the YONO app, on the home page on the left side top corner you will find the option to apply for a personal loan.
Step 4 – if you have a salary account with SBI then you might have a Pre-approved loan offer from SBI, just select the loan amount and it will be transferred to your bank account.
Step 5 – If not, Enter your details like Name, DOB, Address, and work details and complete the initial application process.
Step 6 – The YONO app will inform you if you are eligible for an SBI Personal Loan.
Step 7 – Select the loan amount and tenure according to your requirements and submit.
Step 8 – SBI will start the verification process and inform you once it is done.
Step 9 – if verification is positive, you can sign the loan agreement online and money will be transferred to your bank account.
SBI Personal Loan Customer Care Number
Call SBI
Toll-free number: 1800 1234
Toll-free number: 1800 2100
Toll-free number: 1800 11 2211
Toll-free number: 1800 425 3800
Toll number: 080-26599990
E-mail SBI at:
customercare@sbi.co.in contactcentre@sbi.co.in
Write to SBI
Customer Service Department
State Bank of India
State Bank Bhavan, 16th Floor
Madam Cama Road,
Mumbai 400 021
Principal Nodal Officer
Principal Nodal Officer
Customer Service Department,
State Bank of India,
State Bank Bhavan, 16th Floor
Madam Cama Road,
Mumbai 400 021,
Contact No: 022 22741216
Email ID – gm.customer@sbi.co.in.
SBI Personal Loan FAQ
Q1. How much loan can I avail myself of from SBI Personal Loan?
Ans. You can avail of an SBI personal loan of up to ₹35,00,000, but the loan amount eligibility will depend on factors like monthly income, credit history, risk profile, job profile, payment history, etc.
Q2. If I don’t have a salary account with SBI, can I take SBI personal loan?
Ans. Yes, you can take an SBI personal loan even if you don’t have any relation with SBI. You can apply online on SBI’s official website or visit the nearest branch and apply offline.
Q3. What is SBI Personal Loan Eligibility?
Ans. Criteria to avail of an SBI personal loan depend on the type of personal loan you are applying for. But, you should have a minimum monthly income of Rs. 15,000.
Q4. What is the SBI Personal Loan Interest Rate?
Ans. SBI personal loan interest rate starts from 10.30% and goes as high as 15.65%. Interest rates are decided on your credit history, relation with your bank, repayment history, and many other things.
Q5. if I have an ongoing current SBI Personal Loan, can I apply for a second personal loan?
Ans. Yes, you can apply for a second SBI personal loan, but you will have to close the first personal loan by using the money from the second loan, and also zero processing fees will be charged for preclosing the first personal loan.
Q6. What is the minimum salary required to avail SBI Personal Loan?
Ans. The minimum salary required to avail of an SBI Personal Loan is Rs. 15,000.
Q7. Can a retired person with an SBI pension account avail of an SBI Personal Loan?
Ans. Yes, a retired person with an SBI pension account can avail of an SBI Personal Loan. A pensioner’s age should not be more than 76 years.
Q8. Do I have to provide any collateral to avail of an SBI Personal Loan?
Ans. No, you can avail of an SBI Personal Loan without any collateral. Personal Loans are non-secured loans and don’t need any collateral.
Q9. Can I choose between a fixed rate and a reducing balance rate while availing of an SBI Personal Loan?
Ans. No, you cannot select between the two, as these are fixed by the bank and you are not allowed to choose.
Q10. What are the pre-payment charges for SBI Personal Loan?
Ans. Any prepayment or foreclosure before the end of the tenure of a personal loan will attract pre-payment charges of 3% of the prepaid loan amount. However, charges will be zero if prepayment or foreclosure is done from the proceeds of the new loan under the same scheme.
