SBI Personal Loan Interest Rate

State Bank of India (SBI) offers Festival Personal Loan Scheme for the consumers who want to celebrating a festival but not having enough money to spend . SBI’s Festival Loan can help to cheer and celebrate.

SBI Festival Loan Rate of Interest
Festival Loan Scheme
6.75% above Base Rate, currently 16.05% p.a.

SBI Rate of Interest on other personal loans :
Xpress Credit
Full Check-off
(Category I)
340 - 390 bps above Base Rate i.e., 12.70% - 13.20% p.a. currently

Partial Check-off
(Category II)
440 - 490 bps above Base Rate i.e., 13.70% - 14.20% p.a. currently

No Check-off
(Category III)
540 - 590 bps above Base Rate i.e., 14.70% - 15.20% p.a. currently

SBI Pension Loans
3.90% above Base Rate, currently 13.20% p.a.

Jai Jawan Pension Loan
4.75% above Base Rate, currently 14.05% p.a.

SBI Saral
8. 50% above Base Rate floating, currently 17.80% p.a.

Clean Overdraft
8.25% above Base Rate, currently 17.55% p.a.

Eligibility for SBI festival loan :

Employee of Govt., PSUs, profit making public/private limited companies/ institutions.
Experience : minimum 2 years

OR

Self employed person .

Experience : minimum 3 years standing/experience

OR

Person having regular source of income like :
Pension
Interest from TDRs/NSCs/Govt. Securities etc..

Net monthly income of Rs.3000/- and above.

Loan Amount
Minimum :
Rs.5000/-

Maximum :
4 times your Net Monthly Income, subject to a ceiling of Rs.50,000/-.

Processing Fee
1.10% of the loan amount.

Repayment
Period of 12 months through Equated Monthly Installments (EMI).

Documents Required
Passport Size Photograph

Proof of official address

Latest Salary Slip and Form 16, in the case of salaried persons .

For more detail here is the attachment.

Attached Files Available for Download

SBI personal loans.doc (54.5 KB, 20 views)

__________________
Answered By StudyChaCha Member

How much is the interest rate on SBI Pension Personal Loans ? Also tell about the age limit & repayment period for loan ?

SBI Pension Personal Loans is provided to pensioners who are getting pensions from the central or state government.

For this personal loan scheme customers have to pay a nominal processing fee and there will be no extra charges for early payments.

SBI Pension Loans Interest Rate :
3.90% above Base Rate,
Currently 13.20% p.a.

Age limit & Repayment Period:
For Pensioners:
Age at the time of Loan sanction:
Repayment Period :
Age at the time of full Repayment:

Up to 72 years of Age
60 months
77 years

More than 72 years and up to 74 years
48 months
78 years

More than 74 years and up to 76 years
24 months
78 years

For Family Pensioners:
Age at the time of Loan sanction:
Repayment Period :
Age at the time of full Repayment:

Up to 72 years of Age
60 months
77 years

More than 72 years and up to 74 years
48 months
78 years

More than 74 years and up to 76 years
24 months
78 years

Loan Amount:
For Pensioners:
Minimum :
Rs. 25,000/-

Maximum :
18 months' Pension with a ceiling of:

Rs. 14.00 lacs:
For Pensioners who are upto 72 years of age.

Rs. 12.00 lacs:
For Pensioners who are above 72 years and upto 74 years of age.

Rs. 7.50 lacs:
For Pensioners who are above 74 years and upto 76 years of age.

For Family Pensioners:

Minimum :
Rs. 25,000/-

Maximum:
18 months' Pension with a ceiling of:
Rs. 5.00 lacs:
For Pensioners who are upto 72 years of age.

Rs. 4.50 lacs:
For Pensioners who are above 72 years and upto 74 years of age.

Rs. 2.50 lacs:
For Pensioners who are above 74 years and upto 76 years of age.

SBI personal loan interest rate :

__________________
Answered By StudyChaCha Member

How much is the rate of interest on Personal Loan at State Bank of India (SBI) .Also give other detail about this loan ?

State Bank of India (SBI) is a government bank . Bank offers personal loan to its customers . This loan can be used as per the personal requirements.

SBI Personal Loan Details
Interest Rate (Floating):
BR + 8.50%
Base Rate - 9.30%

Processing Fees:
2.02%-3.03% of the loan amount

Loan Tenure:
4 years

Eligibility for SBI personal loan :

Age :
21 and 58 years

If salaried :
Candidate are in a full time job for at least 24 months.

If self-employed:
Candidate must be in current profession or business for at least 2 years.

Documents required :
For Salaried:

Filled up loan application form.

2 Passport Size Photo.

Copy of Income Tax PAN.

Identity Proof

Residential Address Proof

Income Documents

To Self-Employed
Filled up loan application form.

2 Passport Size Photo

Copy of Income Tax PAN

Identity Proof

Residential Address Proof

Income Documents

__________________
Answered By StudyChaCha Member

My Father wants to take Personal Loan from State bank of India but firstly he wants to know about Rate of Interest so would you please give me some information about it?

Punjab National Bank was registered on 19 May 1894 under the Indian Companies Act and it is the third largest bank in India in terms of asset size ( billion by the end of FY 2012-13).

Here I am providing you information about State bank of India Personal Loan….

SBI Personal Loan Interest Rate:
2.02% - 3.03% of the loan amount.

Interest Rates: Personal Loans Scheme (SBI Saral): 8. 50% above Base Rate floating, currently 18.50% per annum.

Lowest EMI of Rs. 2683 per lakh
Processing fee of 2.02% to 3.03%
Loans upto Rs. 1,000,000 for salaried and upto Rs. 1,000,000 for self employed



SBI Personal Loan Eligibility:
Your age between 21 and 58 years
In case you are salaried, you are in a full time job for at least 24 months of which not less 24 months must be with your current company.

In case you are self-employed, you must be in current profession or business for at least 2 years and should preferably own either your office or your place of residence.

Minimum turnover and minimum net income criteria may apply.

SBI does not specify any particular CIBIL score for being eligible for a personal loan; it is observed that a score of 750 and above is desirable

Documents required
Documents required - Salaried

Filled up loan application form
2 Passport Size Photo
Copy of Income Tax PAN
Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Income Documents – 3 months payslip, 2 years Form 16, 3 months bank statement showing salary credit and any EMI debit

Documents required - Self-Employed

Filled up loan application form
2 Passport Size Photo
Copy of Income Tax PAN
Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
Income Documents – 2 years audited financials, 6 months bank statement
Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof

__________________
Answered By StudyChaCha Member

I am looking to know about the Rate of Interest for Personal Loan offered by State Bank of India (SBI) , please give here ROI detail on Personal Loan in SBI?

State Bank of India (SBI) is a public sector bank . It offers Personal Loan products . SBI personal loan can be used as per the personal requirements for the customer . There is not any restrictions and the bank is not having any criteria for this.

SBI Personal Loan Rate of Interest:
Xpress Credit
Full Check-off
(Category I)
340 - 390 bps above Base Rate i.e., 12.70% - 13.20% p.a. currently

Partial Check-off
(Category II)
440 - 490 bps above Base Rate i.e., 13.70% - 14.20% p.a. currently

No Check-off
(Category III)
540 - 590 bps above Base Rate i.e., 14.70% - 15.20% p.a. currently

SBI Pension Loans
3.90% above Base Rate, currently 13.20% p.a.

Jai Jawan Pension Loan
4.75% above Base Rate, currently 14.05% p.a.

SBI Saral
8. 50% above Base Rate floating, currently 17.80% p.a.

Festival Loan Scheme
6.75% above Base Rate, currently 16.05% p.a.

Clean Overdraft
8.25% above Base Rate, currently 17.55% p.a.

Interest Rate
Interest Rate (Floating)
BR + 8.50%
Base Rate - 9.30%

Processing Fees
2.02%-3.03% of the loan amount

Loan Tenure
4 years

Features of SBI Personal loan :
Attractive Rate of Interest

Timely Discounted Schemes

No Hidden Charges

Zero Prepayment Penalty

Quick Loan Approval

Online Loan Submission

High Quantum of Loan

Low Interest Rates

Fast Processing

Specialized Loan Schemes

24/7 Customer Support


SBI Saral Personal Loan online application form looks as:

__________________
Answered By StudyChaCha Member

Will you please tell how much is the rate of interest on SBI Xpress Credit Personal Loan ? I want to apply for this loan please give detail ?