SBI Personal Loan

Key Features and Benefits

State Bank of India personal loans provide financial support for various needs like travel, education, or emergencies. The loans are customer-friendly, with simple terms and quick processing. Have a look at the key features and benefits:

• No Collateral Needed: Loans are unsecured and require no security or guarantor.
• Flexible Tenure: Repayment period of up to 7 years
• Pre-closure Charges: No penalty for early loan repayment
• Transparent Costs: No hidden charges or fees.
• Daily Reducing Balance: Interest is calculated on the remaining balance, reducing the overall cost.
• Special Pension Loan: Extended benefits for retired government employees.
• 24/7 Access: Pre-approved loans are available through the YONO app

SBI Personal Loan Eligibility

You must meet certain basic requirements to apply for a State Bank of India personal loan, you must meet certain basic requirements. These criteria ensure the loan is offered to individuals with stable incomes and repayment abilities.

Types of State Bank of India Personal Loans

Here are the types of SBI personal loans:

SBI Xpress Credit Loan:

• This is for salaried individuals with salary accounts in SBI.
• Loan amount up to ₹30 lakhs.
• Tenure up to 7 years.
  

SBI Pre-approved Personal Loan (PAPL):

• Instant loans for existing SBI customers.
• Available through the YONO app.
• Loan amount up to ₹ eight lakhs.

SBI Pension Loan:

• For central, state, and defence pensioners.
• Loan amount up to ₹14 lakhs.
• Tenure up to 7 years.

SBI Quick Personal Loan:

• This is for salaried individuals without salary accounts in SBI.
• Loan amount up to ₹20 lakhs.
• Tenure up to 6 years.

SBI Real-Time Xpress Credit Loan:

• Fully digital loan for government and defence salary package account holders
• Loan amount up to ₹35 lakhs.
• Tenure up to 6 years.

SBI Xpress Flexi Loan:

• Overdraft facility for diamond and platinum salary package customers.
• Loan amount up to ₹25 lakhs.
• Flexible repayment terms.

SBI Xpress Elite Loan:

• For high-income earners with monthly salaries of ₹1 lakh or more.
• Loan amount up to ₹35 lakhs.
• Tenure up to 7 years. 
  

  Get Different Loan Amounts From State Bank of India

  State Bank of India offers personal loans with flexible amounts to meet different needs. Depending on your eligibility, you can borrow as little as ₹25,000 or as much as ₹35 lakhs. These loans come with easy repayment options. Have a look at the different SBI personal loan amounts below:

  • By Amount

  • SBI Personal Loan of 9 Lakh

  • SBI Personal Loan of 8 Lakh

  • SBI Personal Loan of 6 Lakh

  • SBI Personal Loan of 5 Lakh

  • SBI Personal Loan of 2 Lakh

  • SBI Personal Loan of 1 Lakh

  • SBI Personal Loan of 50000

  • SBI Personal Loan of 30000

  • SBI Personal Loan of 15,000

  • SBI Personal Loan of 25000

  • SBI Personal Loan of 10000

  • SBI Personal Loan of 10 Lakh

  • SBI Personal Loan of 7 Lakh

  • SBI Personal Loan of 40000

  • SBI Personal Loan of 4 Lakh

  • SBI Personal Loan of 5000

  • SBI Personal Loan of 3 Lakh

  • SBI Personal Loan of 20,000

Required Documents

You must submit basic verification documents when applying for a SBI personal loan. These include proof of identity, address, and income to ensure a smooth approval process.

Note: Additional documents may be required depending on the loan type and your profile. Always ensure that documents are valid and up to date.

EMI Calculation for SBI personal loan?

You can employ the various SBI personal loan EMI calculators available online to compute the monthly EMIs on the personal loan. The calculator gives the user an accurate result by taking into account crucial parameters, which are the principal amount, interest rate, and tenure. However, if someone is determined to figure out their EMIs manually, they can apply the formula below.

EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

Here, “EMI” is for Equated Monthly Instalments, “N” stands for the number of monthly instalments, “P” stands for the loan’s principal, and “R” stands for the interest rate.

Why Choose Urban Money for SBI personal Loan?

Urban Money is a trusted platform for securing a State Bank of India personal loan. It provides a hassle-free application process, customised loan options, and a transparent comparison of interest rates. Known for its efficiency and reliability, Urban Money helps you make informed decisions and ensures a smooth journey from application to loan approval.