SBI Personal Loan

State Bank of India (SBI) offers Personal Loans to salaried, self-employed, and pensioners. You can avail loan of up to 20 Lakhs for maximum repayment tenure of 72 months. There are various types of SBI Personal Loan that suit the needs of all individuals.

Interest Rates   9.60%
Tenure 1 Year to 6 Years
Loan Processing Fee Up to 1.50% of the loan amount, minimum 1,000 & maximum 15,000 + GST
EMI Bounce Charges  400+ GST
Prepayment Charges Nil charges for floating rates loans
EMI  1832 Per Lakh
Maximum Loan Amount  25 Lakhs
Minimum Loan Amount  25 Lakhs



SBI Personal Loan Details

State Bank of India (SBI) offers different types of Personal Loans such as SBI Xpress Credit, SBI Pension Loan, SBI Xpress Elite, SBI Instant Online Personal Loan through YONO APP, Loans Against Securities and Pre-approved Personal Loan scheme. All these SBI Personal Loans are designed for catering to a diversified customer-base pan India. Based on eligibility and loan requirements, one can choose the best suitable unsecured loan from the largest PSB in the country. The SBI Personal Loans can be applied online or offline at the lowest interest rate starting from 9.60% p.a.

Whether you are a salaried individual, a self-employed business owner, or a retired pensioner, you can apply for loans up to 20 Lakhs for 5 years. Even working women and housewives looking for unsecured loan for starting a business can avail of credit facility seamlessly from SBI Bank.

In all SBI Personal Loans can be used for medical emergencies, travel plans, wedding & celebration, higher education, purchase of consumer durables and more. There is a customised SBI Jai Jawan Pension Loan as well.

Being the largest lender of the country, SBI Personal Loan Interest Rates are most competitive across the lending landscape. Borrowers get a lot of flexibility and choice.

Features of SBI Personal Loan

SBI Personal Loans have something for everyone. For emergency needs, you can avail of small instant loans by applying online. Let's list below top benefits of SBI Personal Loans:

  • Loan amount: For Term Loans, you can avail minimum 25,000 and maximum 20 lakhs or 24 times NMI (whichever is lesser). For Overdraft Loans the minimum loan amount available is 5 Lakhs and maximum loan limit is 20 lakhs or 24 times NMI (whichever is lesser).
  • Low interest rates: SBI Personal Loan interest rates start at as low as 9.60% p.a. and can go up to 15.65% p.a., depending on the loan type, borrower's income and repayment capacity. The interest is charged on daily reducing balance.
  • Low processing charges: Currently, the bank offers up to 100% concession on its personal loan processing charges till 31.01.2021.
  • No security or guarantor required: SBI Personal Loan requires no security or guarantor.
  • Easy process: The complete SBI loan process is smooth, instant, and easy.

Types of SBI Personal Loan

SBI Xpress Credit

  • This personal loan is offered to Salaried Employees who have salary accounts with SBI.
  • You can get up to a maximum of up to 20 Lakhs as the loan amount.
  • The maximum repayment period is 6 years.
  • SBI personal loan interest rate for salary account holders varies between 10.60% to 13.85% p.a.
  • 1.50% of the loan amount, minimum of 1,000 + GST & maximum of 15,000 + GST.

Pre-approved Personal Loans on YONO

  • If you have an account with SBI, you can avail Pre-approved Personal Loans instantly at your convenience through YONO app on 24*7 basis in just 4 clicks. At present, this loan is offered to a pre-selected category of customers on certain parameters pre-defined by SBI.
  • Interest rate varies between 9.60% to 12.60% p.a.
  • SBI offers low processing fee for Pre-Approved Loans through YONO.
  • To check your eligibility SMS "PAPL" to 567676.
  • These loans come with instant processing & disbursement in just 4 clicks.
  • You don't require any physical documentation for these loans.
  • No branch visit required.

SBI Quick Personal Loan

  • This personal loan is offered to salaried employees who do not maintain a Salary Account with SBI.
  • You can get up to a maximum of 20 Lakhs as the loan amount.
  • The maximum repayment period is 72 months.
  • Interest rate varies between 10.85% to 12.85% p.a.
  • Processing fee for this loan is 1.50% of the loan amount (minimum 1,000 & maximum  15,000) + GST.
  • There is a provision for the second loan.

SBI Pension Loan

  • It is SBI personal loan for defence personnel, Central & State Government, and Family Pensioners who are below 76 years of age and whose Pension Payment Order is maintained with SBI.
  • The maximum loan amount offered is 14 Lakhs for Defence and Central & State Government Pensioners. For Family Pensioners, it is 5 Lakhs. Loan amount eligibility depends on borrower's age, pension income, age, repayment tenure, and other factors.
  • The maximum repayment tenure is up to 84 months for Defence Pensioners and 60 months for Family and Central & State Government Pensioners.
  • Interest rate varies between 9.75% to 10.25% p.a.

SBI offers 50% concession in the processing fee for SBI Pension Loan through branches till 31.01.2021.

SBI Personal Loan Interest Rates

Following are the details of SBI Personal Loan Interest Rates:

XPRESS CREDIT (including Pre-Approved Xpress Credit)

Term Loan facility 

(Interest rates)

Overdraft facility

(Interest rates)

Defence, Para-Military, & Indian Coast Guard Salary Package Applicants

10.60% - 11.10%

11.10% - 11.60%

Other Applicants

10.60% - 12.60%

11.10% - 13.10%

Following category of borrowers get special concessions in Rate of Interest (ROI) under the Xpress Credit scheme:

  • For loan amount 10,00,000 or above: 50 bps concession in ROI
  • For Platinum Salary Package customers: 50 bps concession in ROI
  • For Central Public Sector Enterprises considered under 'RATNA' Status: 50 bps concession in ROI
  • The total maximum concession cannot be above 100 bps over the card rate.
Applicants Interest rates

SBI Salary Package Account Holders

9.60% - 11.10%

Other than Salary Package Account Holders (including Applicants not maintaining Salary Account with SBI)

9.85% - 11.35%

Applicants Interest rates

Central & State Government, Quasi-Government, Central PSUs, State PSUs, Defence personnel, Educational Institutions of National Repute

11.50% - 13.60%

Co-operatives or Institutions not covered under regular Xpress Credit scheme & Unrated Corporates

12.25% - 13.85%

Applicants Interest rates

Pension Loan (including PAPNL - Pre Approved pension Loans)


Clean Overdraft


Xpress Credit Insta Top-Up


Pre-Approved Personal Loans (PAPL)




SBI Quick Personal Loan through CLP portal

10.85% - 12.85%

The interest rates of SBI personal loan for women and men are same. There is no special concession available for women.

SBI Personal Loan Fees and Other Charges

Processing fee

Up to 1.50% of the loan amount + GST, depending on the loan type.

Penal interest

2% p.m. over & above the applicable rate of interest on overdue amount for the default period.

Prepayment charges

3% on prepaid amount. No prepayment charges levied if the account is closed from the proceeds of a new loan account under the same scheme.

SBI Personal Loan Documents Required

To complete your application, you need to furnish the following SBI personal loan documents:

Salaried employees & Self employed

  • Duly filled loan application & 2 passport sized photographs.
  • Proof of identity: Photocopy of PAN Card/ Passport/ Drivers' License/ Voters ID/ Aadhaar Card (any one).
  • Proof of residence: Photocopy of recent Telephone Bill/ Electricity Bill/ Property Tax Receipt/ Passport/ Voter's ID Card (any one).
  • Proof of Income:
    • Copy of Identity Card issued by the employer.
    • Bank statement of last 6 months of account where salary is credited.
    • Income Tax Return.
    • Last 6 months' salary slip / bank statement.
    • Last 2 years ITR and account statements by Self Employed individuals.

Eligibility Criteria

You will find easy-to-meet eligibility requirements for SBI Loans. Being the largest lender in the country, the bank has a loan plan for each segment of the borrower. Let's outline the key points of SBI Personal Loan Eligibility criteria for different types of loans:

For SBI Xpress Credit Loan

These are SBI personal loans for govt employees and corporates working in the following sectors:

  • Central and state government
  • Quasi government
  • Central PSUs
  • Educational Institutions of National Repute
  • Profit making state PSUs
  • Selected Corporates who have a business relation with the bank.
  • Corporates who do not have a business relationship with the bank and also do not have ECR subject to certain terms and conditions.
  • The minimum monthly income should be at least  15,000 per month.
  • The EMI/NMI ratio must not exceed 50%.
  • Applicants must have a Salary Account with SBI.

For Xpress Power Loan

The individual should be employed with:

  • State government
  • Central government
  • Defence establishments
  • Quasi-government bodies
  • PSUs
  • Educational institutions of national repute
  • Select Corporates
  • The minimum gross monthly income should be 50,000.
  • The NMI should not be less than 50% of the gross monthly income after making all deductions including EMI.

Loans to Pensioners

For Central and State Government Pensioners:

  • The applicant should not be more than 76 years of age.
  • In case of pensioners who receive pension by means of a cheque drawn in favour of the bank from Government treasuries should also be mentioned, as per the mandate of the pensioner. In these cases, the original Pension Payment Order will remain in the custody of the treasury and the pensioner must give a mandate to the Treasury for payment of pension through a particular branch of the bank.
  • The pensioner should furnish an irrevocable undertaking stating that he shall not amend his mandate to the treasury to pay his pension from the said branch during the tenure of the loan.
  • The concerned treasury provides in writing that they will not accept any request from the applicant to transfer the pension payment to any other bank until the bank issues an NOC.

For Defence Personnel

  • The applicant should be a pensioner of the armed forces, which includes Air Force, Army, Paramilitary Forces, Coast Guards, Rashtriya Rifles, and Assam Rifles.
  • The Pension Payment Order should be with SBI Bank.
  • The maximum age at the time of loan application should be 76 years.

For Family Pensioners (Including Defence Family Pensioners)

  • The family pensioner, i.e, the spouse will receive a pension after the death of the pensioner.
  • The family pensioner must not be more than 76 years of age.

SBI QUICK Personal Loan

This loan is available to individuals working in the following sectors:

  • Central and state PSUs
  • Central/ State/ Quasi government
  • Corporate (Private & Public Ltd.)
  • Educational Institutions of National Repute
  • Applicants must have a Salary Account with any other Bank.
  • Minimum net monthly income required is 15,000.
  • EMI/NMI Ratio should not be more than 50%.
  • Applicant must be aged between 21-58 years.
  • Applicant must have a minimum service period of 1 year.

SBI Personal Loan EMI Calculation

The SBI Personal Loan EMIs are calculated on the basis of reducing balance method, i.e., interest on your next EMI is calculated on the outstanding loan amount. This method reduces the interest outgo considerably.

SBI Personal Loan of 1 Lakh for different interest rates and tenures.

Applicable Interest Rate Repayment Tenure EMI (per lakh) Total Interest Total Payment


1 year





2 year





3 year





4 year





6 year




Comparison of SBI PL VS Other Providers

Name of Lender Rate of Interest (per annum) Processing Fee Maximum Loan Limit Maximum Tenure


9.60% - 15.65%

Up to 1.50% + GST

20 Lakhs

6 years


11.25% - 21%

Up to 2.25% + GST

20 Lakhs

5 years


10.75% - 21.30%

Up to 2.50% + GST

40 Lakhs

5 years

Central Bank of India

8.35% - 10.20%

Up to 500 + applicable taxes

10 Lakhs

4 years

Bank of Baroda

9.85% - 15.45%

Up to 2%

10 Lakhs

5 years

Canara Bank

10.90% - 13.90%

Up to 1% + GST

3 Lakhs

5 years

Yes Bank

13.99% - 16.99%

Up to 2.50% + taxes

40 Lakhs

5 years

Axis Bank

10.49% - 24%

Up to 2% + GST

15 Lakhs

5 years


8.95% - 14%

Up to 1% + GST 

10 Lakhs

5 years

Bank of India

10.35% - 12.35%

Up to 2% + GST

10 Lakhs

5 years

How to Apply for SBI Personal Loan?

If you want to get a Personal Loan from SBI, the procedure is simple and easy to follow. All you have to do is to apply for a Personal Loan online or visit any branch nearby and manually fill the loan application form. Your Personal Loan application will be processed online and the bank representatives will get in touch with you immediately to take the process ahead.

You can also compare the Personal Loan interest rates of SBI with other banks and financial institutions at MyMoneyMantra.

How to check SBI Personal Loan Application Status?

After your SBI Personal Loan application is submitted you receive a reference number. Using this unique reference number you can check the status of your loan application.

Steps for checking SBI application status:

  • Visit official SBI website.
  • Go to check Personal Loan Application Status page.
  • Submit unique reference number (URN)
  • Enter mobile number with ISD code (91 for India)
  • Click on Track and status of application will be on screen.

SBI Personal Loan Status

SBI Personal Loan Customer Care

You can contact SBI Customer Care for queries, complaints or recommendation in a number of ways:

24X7 Toll-free Contact Number: 1800112211/ 18004253800

Email ID:

Write to:

Deputy General Manager,

Customer Service Dept.

State Bank of India, State Bank Bhawan,

4th Floor, Madame Cama Road,

Mumbai - 400021

SBI Personal Loan FAQs

✅ For what purposes can SBI Personal Loans be used for?

Personal Loans with SBI may be used for any personal purposes acceptable to the bank, such as the purchase of consumer durables (such as furniture, computers, etc.), repairs and renovation of flat or house, marriage and other religious ceremonies, domestic or foreign tours, repayment of existing debt, and medical expenses for family members or self. 

✅ Do I require collateral for SBI Personal Loan?

No. Collateral or primary security is not required for availing of SBI Personal Loan.

✅ What is maximum eligibility for SBI Personal Loan?

You can get up to 24 times your monthly salary or up to 18 months' pension as the maximum loan amount. This is subject to the ceiling based on the type of Personal Loan you are applying for.

✅ What is SBI defined loan limit for unsecured borrowing?

The minimum loan amount for Term Loan is 25,000. As for Overdraft, it is 5 lakhs. The maximum loan amount offered is 20 Lakhs subject to 24 times Net Monthly Income and applicable EMI/ NMI is 50% for all categories. For government-aided schools, EMI/NMI ratio is capped at 12 times gross monthly income.

✅ What is the maximum age at the time application for pensioner's loan?

An applicant should not be more than 76 years of age when applying for a Personal Loan.

✅ What is the maximum repayment tenure for a Personal Loan with SBI Bank?

The maximum repayment tenure available is 60 months. In case of loans for pensioners, the repayment period varies according to the age of the applicant.

✅ Are there any prepayment charges on SBI Personal Loans?

Any part prepayment or foreclosure of the loan account before the term ends will be subject to prepayment charges of 3% on the prepaid amount. Prepayment and foreclosure charges are not applicable if the loan account is closed from the proceeds derived from a new loan account that is opened under the same scheme.

✅ How much personal loan amount I can borrow from SBI?

You can avail a maximum loan amount of up to 20 lakhs under SBI Personal Loan.

✅ What are the different types of SBI personal loans offered to employees of corporates?

  • SBI Xpress Credit
  • SBI QUICK Personal Loan
  • SBI Pension Loan
  • Pre-Approved Personal Loans on YONO

✅ Is third party guarantee required for SBI Personal Loans

The following third party guarantee is only needed for SBI Pensioner loans:

  • TPG of spouse for family pension.
  • In the absence of the spouse: TPG of any other family member or third party worth the loan amount.

✅ Should any margin be provided for SBI Personal Loans?

SBI does not require any margin in case of Personal Loans.

✅ What is the EMI/NMI ratio necessary for these loans?

The EMI to NMI ratio should not be more than 50% for the individual to eligible for a Personal Loan.

✅ What are the penal charges for any default in loan repayment?

A penal interest of 2% per annum is charged over and above any applicable interest rate on any overdue amount for the period of default. If a part of the EMI or part instalment remains overdue, the penal interest will not be levied.

✅ How can I contact SBIs customer care?

For queries, complaints or any other information regarding SBI Personal Loan contact on 1800112211/18004253800  or write to SBI Loan customer supporting at

✅ How can I check my SBI Personal Loan status?

  • Visit SBI website and go to the personal loan section.
  • Click on 'Apply Online' and you will be directed to a separate page.
  • Click on 'Application Tracker' given on the top right of the page.
  • A pop-up will appear, select 'Track' and 'Retail Loan'.
  • Enter your reference number and registered mobile number.
  • Click on 'Track' to see the status of your personal loan.

✅ How long does it take to process the SBI Personal Loan application?

If you apply for Instant Personal Loan through YONO App or Web Portal, the loan will be processed within a few minutes or max within a few hours. The processing of loan applications depends on the verification of documents. This is why Preapproved loans or loans for existing customers will take less time. The time line may vary from 2 to 5 days, subject to fulfilment of the credit policy of the bank.

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