State Bank Of India

If you apply instant SBI Personal Loan online, you can avail of any of their personal loans depending on your eligibility criteria. However, their rates of interest start from 9.60% p.a.

Features

  • You get multiple personal loan options when you apply SBI Personal Loan online.
  • Rates of interest are quite convenient and competitive.
  • Long tenure makes repayment easy on your budget.
  • Get a collateral-free multi-purpose loan.
  • The easy online application process to avoid physical contacts.

Different Loan Criteria

You should go through the following basic loan criteria to apply SBI Personal Loan online.

  • Available loan amount- Up to Rs. 20 Lakh
  • Available tenure- Up to 72 months
  • Initial ROI- 9.60% p.a.

As there are different types of personal loans in SBI, here are the types and their ROIs to apply instant SBI Personal Loan online.

  • Xpress Elite Scheme Personal Loan- @ 9.60% onwards
  • Pension Loan- @ 9.75% onwards
  • Xpress Credit Personal Loan- @10.60% onwards
  • Xpress Credit Insta Top-up Personal Loan- @ 10.70% onwards
  • Xpress Credit Non-permanent Employees Personal Loan- @ 11.50% onwards
  • PAPL- @ 12.60% onwards
  • Clean Overdraft Personal Loan- @ 15.65% onwards
  • Quick Personal Loan- @ 10.85% onwards

Eligibility Criteria- 

To apply instant SBI Personal Loan online, the eligibility criteria vary from loan to loan.

SBI Express Credit Personal Loan ·         Should have a salary account with SBI

·         You should be employed in any Govt. organizations, PSUs, or educational institutions.

·         Minimum income must be Rs. 15,000 per month

·         EMI ratio should be lower than 50%

SBI Express Bandhan ·         Should have a salary account with SBI

·         You should be employed in any Govt. organizations, PSUs, or educational institutions.

·         Minimum monthly income must be Rs. 50,000

·         EMI ratio should be lower than 50%

SBI Pension Loan for Central/ State Govt. Pensioners ·         Age should be lower than 76 years.

·         Should have a pension account with SBI.

·         Must submit a declaration to the treasury.

SBI Pension Defence Pensioners ·         Must be a pensioner of the Armed Forces.

·         Age should be lower than 76 years.

·         Should have a pension account with SBI.

SBI Pension Family Pensioners ·         Age should be below 76 years.

·         Should be an authorized family member to receive the pension after the pensioner’s demise.

PAPL to The Salaried and Pensioners on YONO ·         Should have a pension or salary account with SBI.

·         The PAPL should be available on YONO after logging in.

 

PAPL to The Non-salaried on YONO ·         Should have a pension or salary account with SBI.

·         Your monthly income should be above the pre-determined limit.

Documents Required- 

To apply SBI Personal Loan online, you need to provide the following proofs.

  • Identity proof- PAN card/ Passport/ Voter’s ID/ Aadhaar card.
  • Address proof- Aadhaar card/ ration card/ utility bill/ Passport.
  • Income proof- ITR, Form-16, salary slips, bank statements.

FAQs

  • Am I allowed to include my spouse’s income if I apply instant SBI Personal Loan online?

Irrespective of the application process, you’re not allowed to include your spouse’s income.

  • What is the prepayment charges if I apply SBI Personal Loan online?

Whether you apply instant SBI Personal Loan online or offline, you need to pay 3% interest for the pre-payment of the loan.

  • How can I contact SBI customer care if I apply SBI Personal Loan online?

If you apply instant Personal Loan online, you can dial 1800 425 3800 or 1800 11 2211 or write an email to contactcentre@sbi.co.in to resolve any queries.