How to Get SBI Personal Loan - Eligibility Terms Interest Rate

How to Get SBI Personal Loan – Eligibility, Terms, Interest Rate, Salary Based and more details here we provide in this article. In addition, we will also answer other questions related to SBI Bank, such as what is State Bank Loan Scheme, what is Women’s Personal Loan SBI, so you do not need to worry at all.

Because in today’s article of our blog, we are going to give you complete information about how to get SBI personal loan, then you only have to read this article of ours carefully.

After that, we promise you that after reading this article of our blog, you will not need to search anywhere else about this topic that how to take SBI personal loan.

Friends, as you must know that nowadays every person is taking personal loan with the help of many banks to fulfill his needs, but SBI Bank is one of the oldest banks in our India.

Also, this (SBI) bank is giving personal loan to many needy people since many years and that is why many people are asking this question even today that how to take SBI personal loan.

Keeping in view such questions, we have written this article for you, in which we will give you complete information related to SBI Bank personal loan option.

It is our endeavor that after reading this article of our blog, you can easily take a personal loan from SBI Bank and you do not have to search anywhere about how to get sbi personal loan.

Friends, whether you need a personal loan to meet any of your personal needs, India’s most trusted bank, SBI Bank is with you.

How to Get SBI Personal Loan – Apply Online

Friends, before giving the rest of the information in our article, we want to answer your most important question that how to take SBI personal loan or how to take personal loan online with the help of SBI bank.

First of all, you have to go to the SBI Bank website and click on the Personal Loan option.
You have to choose the type of personal loan you want in a personal loan, as soon as you choose it.
Then an application form will come to you, in which you will have to fill all your necessary information.
After that, before you submit the application form, whatever documents or documents SBI Bank asks from you.
You will have to upload it and after doing all this your application form will reach SBI Bank.
Then within a few hours you will get a call from SBI Bank to tell whether your personal loan has been approved or not.

Hope friends, now you have understood how to take SBI personal loan or How to get SBI personal loan.

But how much interest or interest rate do you have to pay for taking a personal loan with the help of SBI Bank.

What is the interest rate on SBI personal loan? Salary Based

Friends, this question must be coming in the mind of many of you that what is the interest rate we have to pay for taking SBI personal loan.

So we want to answer you that if you want to take SBI personal loan, then its interest rate depends on what kind of personal loan you are taking.

1. Express Credit (PAXC already approved Xpress Credit)

A) For Defence, Paramilitary, Indian Coast Guard

i) Term Loan:

You will have to pay an interest rate of 7.20% for 2 years.
Interest rates ranging from 3.40% to 3.90% after 2 years.
If you want to take a more effective interest rate without any reset, then it ranges from 10.60% to 11.10%.

ii) Overdraft:

You have to give 7.20% loan for 2 years.
After 2 years, interest rates ranging from 3.90% to 4.40% will have to be paid.
At the same effective interest rate without any reset, you will have to pay an interest rate ranging from 11.10 to 11.60%.

B) For other applicants

i) Term Loan:

You will have to pay interest of up to 7.20% for 2 years.
After 2 years it will be 3.40 to 5.04%.
Here a better interest rate ranges from 10.60% to 12.60%.

ii) Overdraft:

You will have to pay an interest rate of up to 7.20% for 2 years.
After 2 years, the interest rate will range from 3.91% to 5.90%.
If you are looking for a better interest rate without any reset, then you will have to pay an interest of 11.10% to 13.10%.

2. Express Elite Scheme

i) For SBI Salary Package Account Holders:

Interest rate of 7.20% for two years.
Interest from 2.40% to 3.90% after two years.
Interest rates ranging from 9.60% to 11.10% for a better interest rate without any reset.
Now you must have come to know what is SBI interest rate for salary account.

ii) For applicants other than the salary package:

7.20% interest rate for the first two years.
Interest rates ranging from 2.65% to 4.15% after two years.
Interest rate ranging from 9.85% to 11.35% in a better interest without reset.

3. Express Credit- Non Permanent Employees (NPES)

i) For Educational Institutions of Central and State Government, Quasi Government, Central PSU, Defense Personnel, National Repute:

Interest rate of 7.20% for the first 2 years.
Interest rate from 4.30% to 6 point 4 0% after 2 years.
Better interest rate ranging from 11.50% to 13.60% without any reset.

ii) Co-operative, Institutions not covered under the Express Credit Loan Scheme and other unrated corporates:

Interest rate of 7.20% for the first 2 years.
Interest rate from 5.05% to 6.65% after 2 years.
A better interest rate ranging from 12.25% to 13.85% without any reset.

4. Other Unsecured Personal Loans

SBI unsecured personal loans fall in this category.

Pension Loan:

Interest rate of 7.20% for the first 2 years.
Interest rate from 2.55% to 3.05% after 2 years.
Interest rate ranging from 9.5 to 10.25% without any reset for a better interest rate.

Clean Overdraft:

Interest rate of 7.20% for the first 2 years.
Interest rate of 8.45% after 2 years.
Interest rate of 15.65% for a better interest rate without any reset.

Express Credit Insta Top-Up:

Interest rate of 7.20% for the first 2 years.
Interest rate of 3.50% after 2 years.
Interest rate of 10.70% for a better interest rate without any reset.

Now you must have come to know that how much interest rate is charged in different loans of SBI. But what documents are required to take a personal loan from SBI Bank.

State Bank of India (SBI) Personal Loan Eligibility Criteria:

Friends, if you also want to take SBI personal loan, then it is very important to have this document with you.

Application form to be signed by you
Identity Proof (PAN Card, Voter ID, Passport etc.)
Bank statement of last 3 months or statement of bank passbook for 6 months
Address proof
Income certificate
You may also be asked for other documents for different loans.

Hope friends, now you have understood that what documents you will need to take personal loan from SBI Bank. But what is the eligibility to take a personal loan from SBI.

Eligibility

Friends, if you also want to take a personal loan from SBI, then this information is very important for you.

Age – Minimum 21 years and maximum 65 years
Nationality – Indian
Employment Type – Salaried or Self-employed
Minimum 2 years of employment and minimum 1 year of business
Minimum monthly salary of four thousand
Credit Score – 750

If you were also wondering how to get sbi personal loan, then you have to cross this eligibility criteria, then only you will get SBI personal loan.

Now let us tell you what are the different personal loans available from SBI and how you can take them.

What are the types of SBI personal loan?

Express Credit Personal Loan:

Eligibility: This loan is being given to people working in central and state government central public institutions, some state public institutions and semi-government organizations.
Income: It is very important to have your monthly income to take this loan.
Loan Amount: In this you can get 15 lakh rupees.

SBI Saral Personal Loan:

Eligibility: Salaried individuals and self-employed people can also take this loan.
Income: You must come to take this loan and have the ability to repay it.
Loan Amount: You can get ten lakh rupees in this type of loan.

Loans to Pensioners:

Eligibility: For Central and State Government employees who are drawing pension and whose age is not more than 76 years.

The wife or husband who is getting pension after the death of the working employee can also take this loan.

Loan Amount: The loan amount is withdrawn over the pension of 18 months.

SBI Festival Loan:

SBI Festival Loan is given to people to cover other expenses associated with the festivals.

Eligibility: At least 2 years of service with the Central or State Government, Public or Private incorporated in limited companies.
Self employed people having minimum 3 years experience and earning income through verified channels are eligible to avail this loan.
Income: This should be a minimum monthly income for availing the loan and while calculating the loan amount.

The income of your wife or husband is also included and the loan amount is disbursed if they take guarantee of the loan or if the loan is taken together.

Loan Amount: The loan amount is determined on the basis of your income and ability to repay the loan and depending on your monthly income, Rs 5000 to Rs 50 thousand is given as the loan amount.

Now you must have come to know how to take sbi personal loan and what are its types. So if you have to take a loan from a government bank or a loan from State Bank of India, then now you must have got your answer.

But what is the eligibility for the people of the government to take SBI personal loan.

What is the eligibility for SBI personal loan for government employees?
The age or age of the person or person applying should be from 21 years to 58 years.
SBI personal loan can be availed by only government employees whose monthly income is more than ₹ 20000.
To avail SBI Personal Loan, you must have 6 months experience in the current job and the complete experience should be 3 years or more.
It is very important to have a good CIBL score.
If you have a CIBL score of 700 or above and also have a good credit history, then you can get a personal loan from SBI very easily.

FAQ’s

Q. How to take loan from SBI Bank?

Ans. To take a loan from SBI Bank, first of all you have to go to the website of SBI Bank or the nearest branch and go there, whatever type of loan you want. He has to be selected and after filling the application form, you will have to submit your required documents and then you will be given that loan in happy hours.

Q. How to take a loan of 50000 from SBI Bank?

Ans. To take SBI e-Mudra loan scheme, you must be a micro-entrepreneur and your SBI savings account should be active for more than 6 months. So you can get a loan of 1 lakh, out of which 50,000 will be available in recent times.

Q. How much loan can I get on salary of 15000?

Ans. If you have a salary of 15,000, then you can take a loan of 3.6 lakhs, as a personal loan can be available up to 24 times your monthly income or salary.

Q. How to get a loan of ₹ 50000?

Ans. You can get a loan of up to Rs 50,000 under the Shishu loan scheme and a loan of up to Rs 50,000 to 5 lakh under the Kishore loan scheme, in both these schemes you can get an amount of 50,000 as a loan. Friends, different- There are many types of loans in different banks, which may have different guidelines for giving loan over salary. For example, under a guideline, you can get a loan up to 60 times your salary, for example, if your salary is Rs 40000, then you can get a home loan of a hefty amount of 24 lakhs.

Q. How much loan will be available for how much salary?

Ans. Friends, there are many types of loans in different banks, on which there may be different guidelines for giving loan above salary. For example, under a guideline, you can get a loan up to 60 times your salary, for example, if your salary is Rs 40000, then you can get a home loan of a hefty amount of 24 lakhs.

Get SBI Personal Loan – Eligibility Terms Interest Rate

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