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SBI personal loan

Apply SBI personal loan

Max Tenure

up to 6 years

Best Rate

15.65% p.a

Processing Fee

1.50%

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State Bank of India: Introduction

The State Bank of India, founded in 1806 is one of the oldest commercial banks in Asia. It is a major banking and financial services public sector company with more than 24,000 branches and 59,000 ATMs. It is the largest bank in India which has a 20% market share in deposits and loans among commercial banks, truly being a bank for every Indian.

What is a personal loan?

A personal loan is an unsecured (i.e. without collateral), multi-purpose loan usually taken to cover short-term money requirements. Personal loans usually have a speedy approval process hence making it one of the most popular loans in the market.

An Introduction to SBI Personal Loans

Being the largest bank in India, SBI offers a wide range of services in the personal loan segment. It is the most preferred bank by all kinds of people for any financial service. For any immediate financial requirement like wedding, medical treatments, house repair, pleasure vacation etc. can be fulfilled using the personal loans offered by SBI.

Advantages of SBI
  • No hidden costs and administrative charges
  • Low interest rate
  • No security needed
  • No processing fees
  • Less paperwork

Documentation Required for SBI Personal Loans

Important documents to be submitted while applying for personal loans with SBI

  • Completed loan application
  • 3 Passport size photographs
  • Statement of Bank Account/ Pass Book for last six months
  • Proof of residence (photo copies of recent Telephone Bills/ Electricity Bill)
  • Proof of identify (photo copies of Voters ID card/ Passport/ Driving licence/ IT PAN card)
  • IT returns for the three years for self-employed professionals
  • Form 16/IT returns for the last two financial years for salaried employees
SBI Personal Loans

Catering to the needs of various sections of people for different needs, SBI provides three personal loan products. You can choose the best one that suits your requirement.

SBI Xpress Credit Personal Loans

Are you looking for funds readily available to you whenever you desire or require, be it a sudden vacation that you plan with your family or emergency funds required for medical treatment? SBI Xpress Credit Personal Loan is the solution to your questions

Introduction to SBI Xpress Credit Personal Loans

For companies whose employees have their salary account with SBI will get personal loans at zero margin and at very competitive interest rates with easy processing.

Employees eligible for SBI Xpress Credit Personal Loans
  • Central and state Government
  • Central PSUs
  • Profit making State PSUs
  • Quasi-Government
  • Profit making State PSUs
  • Educational Institutions of National Repute
  • Selected Corporates who have business relationship with the Bank
  • Corporates who do not have business relationship with the Bank as well as do not have ECR, subject to certain terms and conditions

SBI Xpress Credit Personal Loans Feature

Income Requirement
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