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SBI Saral Personal Loan Online

(Updated on 08.05.2019) SBI Saral Personal May 2019 – Compare SBI Saral Personal loan and Interest rates with other banks online. Get Details on Documents, Eligibility, EMI, Loan amount & other Charges for Saral personal of State Bank of India.

SBI Saral Personal Loan Interest Rates

Type of Scheme

Interest rates

Personal loan to Pensioners

12.45%

Xpress Credit – IT Employees

12.90% – 14.90%

Clean Overdraft

16.55%

OD for E-commerce Purchases

13.60%

Xpress Elite

11.40% – 15.15%

**Processing Fees 2% to 3% of loan amount**

Personal Loan Quick, Easy & Instant Approval Online

Professional Details
Loan Amount
Occupation
Yearly Income
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Disclaimer: We do not provide Personal Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

SBI Saral Personal Loan

State Bank of India (SBI) is the largest banking and financial company in India. State bank of India provides a range of banking products through its network of branches in India and overseas. State Bank of India offers Personal loan to the individuals within minimum time. State Bank of India Personal loan can be availed at lower interest rates with attractive EMIs. Individuals can easily avail SBI Saral Personal loan online within a few clicks.

SBI Saral Personal Loan EMI Calculator

SBI Saral Personal Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation on Personal loan EMI within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

SBI Saral Personal Loan Eligibility Criteria

  • Minimum age of the applicant should be 21 years.

  • All types of pensioners drawing pension through State Bank of India are eligible for the personal loan scheme for pensioners.

  • Individuals should have a regular source of income.

  • Salaried individuals from corporate companies, self employed engineer, doctor, architect, Chartered accountant, MBA with minimum 2 years standing are eligible.

  • CIBIL score of the applicant should be good.

  • Loan can be repaid in 48 EMIs.

SBI Saral Personal Loan Documents Required

For salaried person

For self-employed

Application form with photograph

Application form with photograph

KYC documents

KYC documents

Last 6 months bank statements

Last 6 months bank statements

Last 3 months salary slip

Residence Proof

Form 16(ITR)

Form 16(ITR)

Residence Proof

Proof of business existence

 

Profit/loss statements of business

 

Last 3 years income tax returns

Other Products of State Bank of India

SBI Saral Personal Loan Amount

Minimum Loan Amount:
In metro and urban centres: Rs.24,000/-
In rural/semi-urban centres: Rs.10,000/- 
Maximum Loan Amount :
For salaried individuals 12 times the net monthly income and for pensioners subject to a Rs.10 lacs in all centres.

SBI Saral Personal Loan Repayment

  • The prepayment charges will be 3% on the prepaid amount if any fuul or part prepayment of EMIs and closure of account is done before the end of loan tenure.
  • If the account is closed from the proceeds of a new loan account opened under the same scheme, then there will be no prepayment/ foreclosure charges. 

SBI Saral Personal Loan FAQs

Can I foreclose or prepay my loan?
Yes, you can prepay the entire loan outstanding anytime after paying 6 installments. Prepayment charges as applicable would be levied on the outstanding loan amount. No part prepayment is allowed.

What is the procedure to prepay my Personal Loan?
For prepayment of your Personal Loan account, please visit our nearest SBI branch. We request you to carry with you the following documents to complete the process:
1. Request Letter signed by the loan applicant
2. PAN Card (if the mode of payment is cash and the amount is more than Rs.50,000)
3. Payment can be made through cash, cheque or demand draft.

Do I have to pay any additional charges?
A processing fee of 2% to 2.25% depending on the company you are employed in and location of the loan will be levied. This fee will be deducted from the disbursal amount payable to you.

Do you offer Balance Transfer facility in Personal Loan?
We offer Balance Transfer Facility if you have paid 12 EMI. Please contact your nearest branch or our call centre for further details.

What is the loan amount that can be sanctioned?
Based on your kind of business and your relationship with SBI, the final loan amount is decided.

What are the loan tenure options?
The loan can be repaid over a period of 12 to 60 months

What security/collateral do I have to provide for SBI Saral Personal Loan?
No security, collateral or guarantors are required for obtaining Personal Loans.