(Updated on 08.05.2019) SBI Personal Loan May 2019 – Get Lowest Interest Rates on SBI Personal Loan with Minimum Documents & EMI Calculator Eligibility.
SBI Personal Loan Interest Rate
Interest Rate |
11.85% – 14.70 (Varies according to loan products) |
Processing fee range | 2% – 3% of the loan amount + Service Tax (SBI Saral Personal Loan), 1% of the loan amount + Service tax (SBI Xpress Credit Personal Loan), 0.50% of the loan amount + Service Tax subject to Minimum of Rs. 500/- (For SBI Pension Loan) |
Loan Amount | Min. of Rs. 10,000 to 15 lacs (varies according to Personal Loan products) |
Tenure | 48 months to 60 months (varies according to Personal Loan products) |
SBI PERSONAL LOAN – QUICK, EASY & INSTANT APPROVAL ONLINE
SBI Personal Loan
SBI Personal Loan, one of the people’s widely acknowledged personal loans, has varied and attractive Personal Loan Products (SBI Saral Personal Loan, SBI Xpress Credit Personal Loan, SBI Pension Loan) to meet distinctive requirements for every borrower such as salaried, self-employed and working professionals. SBI Personal Loan Eligibility Calculator is the best way to know your eligibility for different SBI Personal Loan products which you can avail at your earliest. SBI Personal loan schemes offer Personal Loan at low-interest rates, minimum processing fees, no pre-payment penalties, and lots more to help customers to support their genuine requirements (from marriage to honeymoon, from education to medical expenses).
State Bank of India also offers multifarious SBI Home Loan and SBI Car Loan at existing interest rates to help each & every class of people (from Urban to Rural) to fulfil their dreams.
SBI Personal Loan Eligibility
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SBI personal Loan for Salaried employees, pensioners of central/state government/armed forces,
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Self-employed businessmen and professionals with a regular source of income are eligible to avail SBI Personal Loan.
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Central or State Government or Defence pensioner drawing your pension through one of our branches and are not more than 76 years of age can also avail Personal Loan.
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Central & State Government employees, Quasi-Government, Central PSUs, Profit making State PSUs, Educational Institutions of National Repute & Selected Corporates are also eligible for SBI personal loan.
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Pensioners of Armed Forces, including Army, Navy and Air Force, Paramilitary Forces (CRPF, CISF, BSF, ITBP, etc.), Coast Guards, Rashtriya Rifles and Assam Rifles whose Pension Payment Order gets disbursed through SBI.
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Quantum of personal loan varies from according to SBI Personal Loan Products.
SBI Personal Loan Schemes
1) SBI Saral Personal Loan
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A Salaried individual of good quality corporate, a self-employed engineer, doctor, architect, chartered accountant, MBA with minimum 2 years standing are eligible for this loan.
Loan Quantum: Min. Rs.24,000/- in metro and urban centers and Rs.10,000/- in rural/semi-urban centers. Max. Rs. 10 lakhs for centers,
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Processing charges are 2% – 3% of the loan amount + applicable Service Tax.
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3% prepayment charges applicable.
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No security is needed for SBI personal loan.
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The loan is repayable in 48 EMIs.
2) SBI Xpress Credit Personal Loan
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Central & State Government employees, Quasi-Government, Central PSUs, Profit making State PSUs, Educational Institutions of National Repute & Selected Corporates can also avail SBI Personal Loan.
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Loan amount: Minimum: Rs.24,000/-
Maximum: 24 times NMI subject to a maximum of Rs 15.00 lacs.
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SBI Xpress Credit repayment period is minimum 6 months and maximum 60 months.
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Processing fee is 1% of the Loan Amount + applicable Service Tax
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3% pre-payment charges on SBI personal loan.
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No security needed to avail this loan.
3) SBI Pension Loan
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Central or State Government or Defence pensioner drawing pension through one of the SBI branches and are not more than 76 years of age can avail SBI Pension loan to meet personal expenses.
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SBI pension loan amount: Min. 25 lakhs to Max. Rs. 14 lakhs
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Processing Fess: 0.50% of the Loan Amount + Applicable ST subject to Minimum of Rs. 500/- + applicable ST and NIL for Defence Pensioners.
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SBI pension loan pre-payment Charge is 3% of loan amount.
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No prepayment/ foreclosure charges will be applicable if the account is closed from the proceeds of a new loan account opened under the same scheme.
4) SBI Personal Loan Against Mutual Fund Units – SBI offers the facility of getting loans against mutual fund units. There are several benefits of the service but the main advantage is that the customer can get loan for there short term requirement without liquidating the mutual fund investments.
The important things to know regarding the service are mentioned below –
- The minimum loan amount that one can avail is Rs. 25,000/- which can go upto a maximum of Rs 20,00,000 (With 50% margin) for Equity/Hybrid/ETF Mutual Fund & Rs. 5,00,00,000 (With 15% margin) for Debt & FMP Mutual Fund.
Individual(s) over the age of 18 years are eligible to utilise the facility. - The processing fees includes 0.75% of the loan amount + Service tax (Max. Rs. 50,000 + ST).
- For renewal or review purpose Rs. 1000 with applicable service tax will be charged on an annual basis.
- The interest rate for now (As per SBI directions) is fixed at 11.15% with a reset period of 1 year.
SBI Personal Loan EMI Calculator
SBI Personal Loan EMI Calculator |
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Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation on Personal loan EMI within seconds. |
SBI Personal Loan Documents Required
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Application form with 1 photograph is required for SBI Personal Loan.
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Passport / Voters ID card/ Driving License/PAN card/Aadhar Card/ Person of Indian Origin card Identity proof
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Valid Passport/Voter’s ID card/Ration Card as Address Proof.
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Latest IT Return/Original Letter from Company.
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PAN Card, Passport copy as Age proof.
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PAN Card, Driver’s License, Passport copy, Banker’s attestation of Bank Account Statement as signature proof.
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Electricity Bill, Water Bill, Sales Deed, Receipt of Tax paid as Ownership Proof.
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Last 3 months’ payslips and Form 16 as Income proof.
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Last 6 months bank account statements.
SBI Personal Loan Prepayments
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No pre-payment/ Pre-closure penalty will be levied for SBI Personal Loan.
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Reduce your interest burden and optimally utilise your surplus funds by prepaying SBI Personal.
SBI Personal Loan EMI Table
SBI personal loan EMI Table for a loan amount of Rs. 5,00,000 for 5 years at the interest rate of 12.45% p.a., the lowest EMI comes out as Rs. 11,236. To know the EMIs for all the years, see the table given below:
Personal Loan Amount (Rs) |
Interest Rate (%p.a) |
Loan Tenure (yrs) |
Monthly Instalments (EMI) |
Total Interest Amount |
Total Amount (Principal + Interest) |
Rs. 5,00,000 |
12.45 |
1 |
44,530 |
34,357 |
5,34,357 |
Rs. 5,00,000 |
12.45 |
2 |
23,642 |
67,407 |
5,67,407 |
Rs. 5,00,000 |
12.45 |
3 |
16,715 |
1,01,734 |
6,01,734 |
Rs. 5,00,000 |
12.45 |
4 |
13,278 |
1,37,328 |
6,37,328 |
Rs. 5,00,000 |
12.45 |
5 |
11,236 |
1,74,175 |
6,74,175 |
SBI Amortization Table
If you need around Rs 5,00,000 , you can apply for SBI Personal Loan at 12.45% p.a. interest rate for 5 years. Below is the amortization table for the same.
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Year
Principal (Rs)
Interest (Rs)
Balance Amt (Rs)
1
76,870
57,926
4,23,130
2
87,005
47,827
3,36,125
3
98,477
36,355
2,37,648
4
1,11,462
23,370
1,26,186
5
1,26,302
8,672
0
SBI Personal loan MCLR May 2019
Tenor
MCLR
Overnight
8.15%
One Month
8.15%
Three Month
8.20%
Six Month
8.35%
One Year
8.50%
Two Year
8.60%
Three Year
8.70%
SBI Personal loan Application
You can apply for SBI personal loan online through loansninsurances.com. Login to the registration page and enter the required details. Both existing and new customers can apply for the personal loan.
SBI Personal Loan FAQs
Latest News on SBI Bank
1) SBI has removed Cash Deposit limit for SBI Savings Account holders. SBI Personal Savings account holders can deposits cash without any limits in any Non-home branch. Earlier, the deposits were restricted to Rs. 25,000. On the other hand, No change has been made in the cash deposit limit (Rs. 2 lakh) for Small and Medium Enterprise (SME) segment accounts. The Bank will charge Rs. 50 plus GST on every transaction on cash deposits.
2) SBI to introduce ‘Multi-Modal’ Biometric Authentication through fingerprint, face recognition, voice recognition software on the bank’s mobile app. This biometric authentication will also be applicable on Mobile Wallet and Unified Payment Interface (UPI) transactions. In order to use this feature, SBI customers will have to register their fingerprint on the server through the Bank’s existing mobile banking application.
3) SBI‘s Quick Transfer Service allows you to transfer funds upto Rs. 25,000 per day (Rs. 10,000 per transaction). Also the customer is not required to add a beneficiary in order to transfer the funds on SBI Quick Transfer facility. SBI Quick Transfer facility can be availed by SBI customers on its internet banking portal. The Remittance Amount gets instantly credited to the Beneficiary’s Account with SBI. In case, the Beneficiary doesn’t hold SBI account then money is transferred either through IMPS or NEFT.
4) Global NRI Centre or GNC has been launched by STATE BANK OF INDIA in Kochi, India to provide banking services to its NRI customers based in US. Apart from this, the GNC Centre also provides services such as Wealth management, Intelligence assistance, free post-box, and remittance facilities. When asked, why did he choose Kochi for the Centre; Rajnish Kumar, Chairman of SBI replied that it is the state that receives highest remittances and 8% of the total remittances come from NRI accounts. At this centre, all the NRI remittances would come at one place that are currently spread over 92 NRI branches in 66 locations.
5) State Bank of India is planning to raise ₹ 12,700 Crore at current exchange through public offer and/or the issue of bonds in US dollars or any other convertible currency. This will be done for the overseas expansion of the largest lender. Currently it has an overseas presence through 195 foreign offices in 36 countries.
LIST OF SBI BRANCHES FOR PERSONAL LOAN IN DELHI | ||
Contact Address | IFSC Code | MICR Code |
State Bank of India, Zakir Nagar,New Delhi,Delhi,Pin – 110025 | SBIN0008079 | 110002155 |
Yamuna Vihar,C1,BY,5,A,Yamuna,Vihar,Delhi,Dist Delhi 110053 | SBIN0011558 | 110002479 |
D 212, Vivek Vihar,Dist Delhi, Delhi,110092 | SBIN0011559 | 110002480 |
7/67, Main Road,Vishwas Nagar,Delhi, Dist: Shadra Delhi – 110032 | SBIN0013762 | 110002338 |
R93.Masood.Pur,Vasant.Kunj,New.Delhi,Delhi,Pin.110070. | SBIN0008524 | 110002191 |
State Bank of India, Vasant Kunj, New.Delhi Delhi110070 | SBIN0011562 | 110002474 |
State Bank of India, FUI, Uttari Pitampura,Delhi 110088 | SBIN0013209 | NA |
State Bank of India, Plot No.81516109 Uttam Nagar New Delhi 110059 | SBIN0001679 | 110002153 |
State Bank of India, Gurdwara.Santpura,New.Delhi,Pin.110018 | SBIN0001551 | 110002125 |
State Bank of India, Tis Hazari Court Complex New Delhi | SBIN0000726 | 110002126 |
State Bank of India, 9 Rajdhani Enclave, Delhi ,Pin – 110092 | SBIN0007085 | 110002152 |
State Bank of India, B Block, Sultanpuri, N Delhi Pin 110041 | SBIN0004846 | 110002123 |
State Bank of India, Govind Ashram, 1St Floorg.T.Road, Shahdara,Delhi , Pin – 110032 | SBIN0009316 | 110002202 |
11 Parliament Street,New Delhi , Dist: Delhi-110001 | SBIN0013405 | 110002328 |
A5,Ring Road,South Extension Part I, Delhi, Dist:Delhi110049 | SBIN0013913 | 110002788 |
Agarwal Fun City Mall , First Floor, Cbd Shahdra, Delhi – 110092 | SBIN0015811 | NA |
Plot No. 3, Psp Institutional Area, Sec. 14 Ext. Rohni Delhi | SBIN0030432 | 110005012 |
Plot No 51, Sector 12 B, Dwarka, Distt. Delhi.New Delhi- 110075 | SBIN0016531 | NA |
96-A Kamla Nagar Delhi Dist Delhi, Delhi 110007 | SBIN0001420 | 110002148 |
LIST OF SBI BRANCHES FOR PERSONAL LOAN IN MUMBAI | ||
Contact Address | IFSC Code | MICR Code |
1st Floor, Madhuli Bldg., A.B.Road, Shivsagar Estate, Worli, Mumbai. Maharashtra-400018. | SBIN0016574 | NA |
Shop No. 4 & 5, Manisha Heights, Balrajeshwar Road, Vaishali Nagar, Mulund West, Mumbai – 400080 | SBIN0015149 | NA |
1st Floor, Madhuli Bldg., A.B.Road, Shivsagar Estate, Worli, Mumbai. Maharashtra-400018. | SBIN0016574 | NA |
E Square, Ground Floor,Subhash Road,Vile Parle(East),Mumbai,Dist.Mumbai.Maharashtra-400057 | SBIN0017610 | NA |
Sterling Centre, Dr. Annie Basant Road, Worli, Mumbai, Maharashtra – 400030 | SBIN0030150 | 400005004 |
Station Road Vile Parle (W),Prime Business Park,Ville Parle,Mumbai,Distt.Mumbai.Maharashtra-400056 | SBIN0017415 | NA |
Ashok Silk Mills Compound, 1St Floor, Lbs Marg, Ghatkopar West, Mumbai – 400086 | SBIN0014185 | NA |
Voltas House Ist Floor Dr Babasaheb Ambedkar Road Chinchpokli East Mumbai Maharashtra – 400033 | SBIN0017889 | NA |
Gyan Sagar Buld., R.B.S.K. Bole Road, Dadar (W) Mumbai | SBIN0030355 | 400005009 |
Plot No. 1,Hotel Bahri Residency,Sion Trombay Road, Chembur, Dist:Mumbai, Maharashtra: 400071 | SBIN0016228 | NA |
Vision House, 14-D, Bombay Co-Op. Indl. Estate, Narayan Nagar, N.S.S.Road, Ghatkopar (West), Mumbai-400086 | SBIN0016879 | NA |
Mumbai (Thane-Nashik) Zone -Iv, Madhuli Building, Shivsagar Estate, Dr. A.B.Road, Worli, Mumbai. Maharashtra- 400 018 | SBIN0016517 | NA |
Gold Seal Compound,Subhash Nagar,Near Ceat Tyre,Village Road,Nahur West,Mumbai.Maharashtra-400078 | SBIN0017611 | NA |
LIST OF SBI BRANCHES FOR PERSONAL LOAN IN CHENNAI | ||
Contact Address | IFSC Code | MICR Code |
State Bank of India, Chennai State Tamilnadu Pin 600001 | SBIN0006205 | 600002779 |
World Univ Ser Cent Chennai Chetpet Chennai City, 600031 | SBIN0002288 | 600002061 |
2728,Woods Road,Br Complex,Mount Road Branch,Pbno 4823,Chennai 600002 | SBIN0060312 | 600002160 |
West.Velacherry,R50,Tnhb.Main.Road,West.Velachery,Chennai,600042 | SBIN0011733 | 600002155 |
New No 123,Walajah Road, Chennai, Tamil Nadu-600002 | SBIN0016556 | NA |
No.147,Dr. Basant Road,Triplicane,Chennai,Chennai – 600005 | SBIN0003275 | 600002059 |
42-43, East Mada Street Villivakkam, Chennai Citypin – 600049 | SBIN0007108 | 600002058 |
33,Evk Sampath Road, Chennai Vepery, Citypin – 600007 | SBIN0007107 | 600002057 |
R.J.Mansion,71,Arcot.Road,Vellore,Tamilnadu,Pin.632004. | SBIN0001618 | 632002010 |
37A,Velachery Main Rd,Velachery,Chennai,Tamilnadu – 600042 | SBIN0007993 | 600002085 |
61, Radhae Shyam Complex, Vanagaram Ambattur Salai, Vanaaram, Chennai. Tamil Nadu-600095 | SBIN0016561 | NA |
Balakrishna, Road, Valmiki, Nagar, Tiruvanmiyur, Chennai – 600041 | SBIN0011721 | 600002157 |
No 4 Banal Banktaramani ,Chennai ,Pin – 600113 | SBIN0004285 | 600002105 |
P.B.No.1003,M.Prakasam Rd,Thyagarayanagar,Chennai | SBIN0001020 | 600002054 |
Josier.Street,Nungambakkam,Chennai34 | SBIN0011738 | 600002153 |
No-64, S.R.P Koil Street, Peravallur,Chennai Tamil Nadu – 600082 | SBIN0016283 | NA |
440,T T K Road,Alwarpet,Chennai,Tamil Nadu 600018 | SBIN0011719 | 600002164 |
31,Bunder Street,Chennai Govindappa Naicken St.Chennai City, Tamilnadu 600001 | SBIN0001017 | 600002051 |
Manidweep,31 Chevalier Sivaji Ganesan Road,Tnagar, Chennai 600017 | SBIN0012750 | 600002174 |
84, Rajaji Salai,,Chennai | SBIN0013241 | NA |
199,Mth Road, Padi, Chennai Tiruvallur, Tn 600050 | SBIN0004032 | 600002102 |
LIST OF SBI BRANCHES FOR PERSONAL LOAN IN PUNE | ||
Contact Address | IFSC Code | MICR Code |
Zonal Office, Zone-Ii, Sharda Chambers, 386/2, Shankarsheth Road, Distt. Pune. Maharashtra-411037 | SBIN0016518 | NA |
State Bank of India, Dist Pune state Maharashtra – 411001 | SBIN0006859 | 411002743 |
State Bank of India, 3rd Floor,Tara Chamber, Pune, Maharashtra – 411003 | SBIN0008760 | 400002416 |
Hermes Center, Shop No. 11G, 11H, 11 I, Shastri Nagar, Pune, Distt.Pune. Maharashtra-411006 | SBIN0017345 | NA |
Survey No 62, Opp Hotel Abhiruchi, Sinhgad Road, Vadgaon Budruk,Pune – 411041 | SBIN0011490 | 411002064 |
Lotus Erina, S.No. 50/7, Vadgaonsheri-Kharadi Road, Vadgaonsheri, Distt.Pune. Maharashtra-411014 | SBIN0016818 | NA |
1154 Shivajinagar, Veer Chaphekar Chowk Near Police Parade Ground Pune – 411016 | SBIN0007339 | 411002016 |
B.S.Bhavan, Pmt Bldg., 5Th Floor, Deccan Gymkhana, Pune-411004 | SBIN0009016 | 411002001 |
Rcpc Administrative Office, 386/2 Sharda Centre,4 Th Floor Shankarsheth Road,Pune-411037 | SBIN0015143 | NA |
State Bank of India, 83/1,Sarang Society,Sahakar Nagar No.2,Pune 411009 | SBIN0011782 | 411002072 |
Bhigwan Road Sbi Baramati Dist -Pune,Pin-413 102 | SBIN0013997 | 413002777 |
Ravet,Gala No.2 To 8,Sector 29,Plot No.Sdc-2,Akurdi,Ravet Pradhikaran,Pune. Maharashtra-412101 | SBIN0017292 | NA |
Icon Tower SS No114 Part 115 Partplot B Baner Roadghorpade Peth Baner, Pune, Maharashtra – 411045 | SBIN0017910 | NA |
Matrix B,G 5,World Trade Centre Tower No.1,Kharadi Road,Ground Floor,Kharadi Pune,Maharashtra 411014 | SBIN0016816 | NA |
Plot No.2, S.No.4270 B,Oppo. Darshan Hall, Pimipri Chinchwad Link Road, Chinchwad, Pune, Dist:Pune-411033 | SBIN0015706 | NA |
Opp. Chinchwad Police Stn, Mumbai Pune Road, Tal Haveli Pune, Distt. Pune 411019 | SBIN0005951 | 411002013 |
Near Sangam Bridge, Pune Pin 411005 | SBIN0010431 | 411002060 |
S.No.143 Surya House Opplokmat Bhavan Dhyari Talhaveli Pune Distt.Pune. Maharashtra411041 | SBIN0017878 | NA |
Karve Road, Erandavana, Pune, Maharashtra 411004 | SBIN0004618 | 411002010 |
LIST OF SBI BRANCHES FOR PERSONAL LOAN IN COIMBATORE | ||
Contact Address | IFSC Code | MICR Code |
1420B, Sathy Main Road, Ganapathy, Dist: Coimbatore, Tamil Nadu – 641006 | SBIN0017674 | NA |
2/131A, Kunda Main Road, Velliankadu, Coimbatore – 641104 | SBIN0014254 | NA |
S.F.No.633, Opp.To Lakshmi ,Kalyana, Mandapam,Coimbatore Pin – 641605 | SBIN0009314 | 641002107 |
1 By 1, Sf No 69 By 2Mariamman Koil St, Veerakeralam, Coimbatore, Tamil Nadu | SBIN0010618 | 641002031 |
No.747,Sarvodaya Sangh Bldg.,Marudamalai Main Road, ,Coimbatore, Tamilnadu ,Pin – 641041 | SBIN0005740 | 641002012 |
17 Old Kangeyam Road Uthukuli Rs Uthukuli Distttirupur Tamilnadu 638752 | SBIN0017605 | NA |
State Bank of India, Dist Coimbatore state, Tamilnadu – 641018 | SBIN0005008 | 641002092 |
P.O. No.4012, Dr. Nanjappa Rd., Coimbatore – 641018, Tamilnadu | SBIN0009958 | 641002001 |
1112, Raja Plaza, Avinashi Road, Coimbatore, Distt. Coimbatore. Tamil Nadu-641037 | SBIN0016454 | NA |
Kurinji Complex,State Bank Road,Coimbatore – 641018 | SBIN0010042 | SBIN0013845 |
Zonal Office, State Bank Road, Coimbatore – 641018 | SBIN0013844 | NA |
P.B.No.4201,Via.Periyanaickenpalayam,17,Mettupalayam.Road.Pin.641020 | SBIN0001541 | 641002004 |
SF No 407 By 1 Part,Thadagam Road,Edayarpalayam,Coimbatore 641025 | SBIN0012244 | 641002036 |
State Bank of India, Thadagam Road Coimbatore Tamil Nadu 641013 | SBIN0010432 | 641002027 |
37, Sf No. 14 & 16, East Car Street,Karamadai (Po), Pin 641025, Coimbatore District, Tamilnadu-641025 | SBIN0013437 | 641002041 |
Bazaar Street,Kinathukadavu,Pollachi Taluk,Coimbatore District 641109 | SBIN0012656 | 641002666 |
Nehru Avenue,Bharathiar Road,Maniakarampalayam,Dis, Coimbatore – 641006 | SBIN0012778 | 641002040 |
212A, Karamadai Rd., Ems Complex, Mettupalayam, Tamilnadu – 641305 | SBIN0001384 | 641002034 |