SBI Personal Loan

SBI Kavach Personal Loan

Get an instant loan of up to Rs. 5 lakhs under SBI Kavach Personal Loan for COVID treatment of self or your family members. This one of its kind loan comes at an interest rate starting from as low as 11% per annum and can be repaid easily in a tenure of up to 5 years, including the moratorium period of 3 months. You also get the reimbursement of expenses already incurred by you for COVID related medical expenses. With this loan scheme, the SBI bank aims to provide borrowers the access to instant monetary assistance during COVID 19 pandemic.

SBI Xpress Credit

• SBI Xpress Credit Personal Loan is offered to Salaried Employees who have salary accounts with SBI.
• You can get up to a maximum of up to Rs. 20 Lakhs as the loan amount.
• The maximum repayment period is 6 years.
• SBI personal loan interest rate for salary account holders varies between 11.00%-12.50% pa.
• 1.50% of the loan amount, minimum of Rs. 1,000 + GST & maximum of Rs. 15,000 + GST.

Pre-approved Personal Loans (PAPL) on YONO

• If you have an account with SBI, you can avail SBI PAPL 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 is 11.15%.
• 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 offered Personal Loan for Salaried Employees who do not maintain a Salary Account with SBI.
• You can get up to a maximum of Rs. 20 Lakhs as the loan amount.
• The maximum repayment period is 72 months.
• Interest rate varies between 11.25% - 12.95%.
• Processing fee for this loan is 1.50% of the loan amount (minimum Rs. 1,000 & maximum  Rs. 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 Rs. 14 Lakhs for Defence and Central & State Government Pensioners. For Family Pensioners, it is Rs. 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 starts with 11.15% p.a.

The SBI Personal Loan EMI calculation can happen 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.

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
  • Driver's 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.

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

Steps for checking SBI application status:

• Visit the official SBI website.
• Go to check the Personal Loan Application Status page.      
  https://onlineapply.sbi.co.in/personal-banking/application-status
• 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 interest rate 2023 depends on the type of loan applied for, applicant’s occupation, cibil score and repayment capability, and the factors. You can apply for the loan online to get the best interest rate possible. Below is the list of current SBI personal loan interest rate:

1. Xpress Credit (including Pre-Approved Xpress Credit)

2. Xpress Credit – Non-Permanent Employees

3. Xpress Elite Scheme

4. Other Unsecured Personal Loans

Find below SBI Personal Loan Customer Care Number & other details

24X7 toll free numbers: 1800112211/18004253800

Email ID: dgm.customerr@sbi.co.in

Write to: 

Deputy General Manager,

Customer Service Dept.

State Bank Bhawan, 4th Floor, Madame Cama Road, Mumbai - 400021

You can apply for SBI personal loan online through the official website of the bank, YONO mobile app offered by the bank, or through online lending marketplaces like MyMoneyMantra. 

If you want SBI personal loan apply online through the website of the bank by following the steps mentioned below:

• Visit the official website of the bank i.e. sbi.co.in.
• Click on the “Personal Loans” tab given under “Loans” section.
• Compare all the personal loan options offered by SBI based on your requirement, eligibility, features of the scheme, and interest rates.
• Click on “Apply Now” button.
• Fill in the online personal loan application form by entering the required details.
• Click on the “Submit” button.
• You will receive a call from the bank’s representative to guide you through the remaining process.

SBI has announced the launch of a new personal loan product for salary account holders under its flagship personal loan product Xpress Credit on YONO. The new product is Real Time Xpress Credit (RTXC) and it will allow salaried customers to avail of personal loans up to Rs. 35 Lakhs without any paperwork. Customers will no longer be required to visit the branch as the entire process will be paperless. The end-to-end journey of just 8 steps will be easy and instant for the customers.  
Under the new product, central, state government and defence salaried customers of SBI can apply for loans. The credit checks, eligibility, approval and documentation will be done in real-time digitally.