SBI Personal Loan, Interest rates 2017, Eligibility, Documents, bank personal loan.#Bank #personal #loan

State Bank of India (SBI) Personal Loan In our day-to-day..

SBI Personal Loan, Interest rates 2017, Eligibility, Documents, bank personal loan.#Bank #personal #loan


State Bank of India (SBI) Personal Loan

In our day-to-day life, even on special occasions and situation of emergency we require a good amount of funds to meet our financial needs and liabilities. We generally spend money on vacation, education, property, vehicles, marriage, medical emergency as well. There are situations when we have to arrange hefty amount within shorter duration. To meet the financial needs in such situations, personal loans play a vital role.

State Bank of India, one of the biggest lenders in the country, offers a range of personal loan schemes to help you out in times of distress. State Bank of India offers personal loan under four categories – SBI Pension Loan, SBI Xpress Credit Personal Loan, SBI Saral Personal Loan and SBI Festive Season Loan.

SBI Personal loan details:

SBI Personal Loan Interest Rates:

SBI Pension Loan – 12.45%

Clean Overdraft – 16.55%

Bhagya Rekha Loan – 11.05%

Jai Jawan Pension Loan – 12.45%

Xpress Credit to IT Employees – 12.90% – 14.90%

OD for E-commerce purchase – 13.60%

Salaried (Salaried Class)

Maximum: 12 times net monthly imcome (salaried and pensioners)

  • Passport size photograph
  • Identity proof
  • Office address proof (self-employed and professionals). The documents can be shop/establishment certificate, lease deed or telephone bill
  • Latest salary slip and Form 16 (salaried persons)

Processing fee is 2% – 3% of loan amount.

No prepayment charges

You can increase your loan eligibility by making your spouse a co-borrower.

SBI Xpress Credit Personal Loan

Interest Rates – 11.95% – 14.55% p.a

SBI provides Xpress Credit personal loan to the employees of undernoted entities maintaining salary account with zero margin:

Central and State Government

Profit making State PSUs

>Education Institutions of National Repute

Minimum slaary of Rs.7,500

Rs.24,000 for term loan

Rs.10 lakhs for overdraft

SBI offers loan upto 24 times of net monthly income for salaried class individuals and pensioners. The maximum limit for personal loan is Rs.15 lakh.

Processing Fees – SBI charges 1% of loan amount + applicable taxes

Part payment charges – 6 months to 60 months (or residual service period whichever is lesser)

Minimum EMI per lakh Rs. 2,656 – Rs. 2,781 for 4 years.

SBI Pension Loan

Interest Rates on SBI Pension Loan – 12.45% p.a.

Low processing fee, no hidden charge, no pre-payment charges

Family pensioner (spouse authorised to receive pension after pensioner’s death) can avail loan but the applicant should not be more than 76 years.

Maximum 50% amount of pension is considered for availing loan.

SBI charges processing fee of 0.51% of theamount (+applicable taxes) with minimum Rs 500/-). Processing fee is not charged from SBI Defence Pensioners.

Loan Amount For Central State Government Pensioners:

Minimum loan amount is Rs 25,000

Maximum loan amount Rs 14 lakh for applicants below 72 years

Maximum of Rs 12 lakh for pensioners who are between 72 and 74 years

Maximum amount of Rs 7.5 lakh for applicants between 74 and 76 years

For family pensioners, minimum loan that can be availed is Rs 25,000.

Loan Amount For Defence Pensioners:

Minimum loan amount is Rs 25,000 >Rs 14 lakh for applicants upto 72 years of age

Rs 12 lakh for pensioners between 72 and 74 years

Rs 7.5 lakh for applicants between 74 and 76 years

(EMI / NMP not to exceed 50% in all the cases for Family Pensioners)

Loan Amount For Family Pensioners:

Minimum amont Rs.25,000

Rs.5 lakh for pensioners upto 72 years of age

Rs.4.5 Lakh for pensioners between 72 and 74 years Rs.2.5 Lakh for pensioners between 74 and 76 years

(EMI / NMP not to exceed 33% in all the cases for Family Pensioners)

For Central & State Government Pensioners (including Family Pensioners) – 0.50% of the Loan Amount + applicable tax subject to Minimum of Rs. 500

For Defence Pensioners – NIL

For Central & State Government Pensioners –

Minimum EMI per lakh – Rs. 2,656 – Rs. 2,781 for 4 years

Interest Rates on SBI Pension Loan – 12.95% p.a.

SBI Saral Personal Loan

Saral personal loan is available for any legitimate purpose to those working in corporate sector, self-employed, engineers, doctors, architects, chartered accountants, MBA with two years of employment.

SBI Saral Personal Loan Eligibility You are eligible for SBI Saral Personal Loan if you are:

Salaried and working with any leading corporate house

Self-employed (engineer, doctor, architect, chartered accountant, MBA) with minimum 2 years experience.

Minimum Loan Amount For SBI Saral Pension Loan

    Rs.24,000 in metro and urban centres

Rs.10,000 in rural/semi-urban centres

SBI offers loan upto 12 times of net monthly income for salaried class individuals and pensioners. The maximum limit for personal loan is Rs.10 lakh.

Processing Fees – SBI charges 2% – 3% of loan amount + applicable service tax

Minimum EMI per lakh – Rs. 5,838/- for 4 years

Interest Rates on SBI Saral Personal Loan – 17.65%

About State Bank of India

SBI is the largest lender in the country and has its headquarters in Mumbai, Maharashtra. The majority is owned by the Government of India. Consolidated report says that SBI had a total income of Rs 2,57,289.51 crore as on March 31, 2015. SBI has total assets of over Rs 25,29,394 crore.

There are as many as 16,995 branches of SBI in India, including 190 in other countries. State Bank has an agreement with GE for its credit card services. It is the only bank in the country to figure in the Forbes list of 500. SBI holds a major market share in the fields of personal loan (20%), home loan (25.5%) and car loan (26%).

Riding high on its extensive reach, SBI is the most searched and preferred bank in India and is accessible from almost every part of the country



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