SBI Personal Loan of 10 Lakh

  • Personal Loan By Other
  • Personal Loan By Profession
  • Personal Loan By Scheme
  • Personal Loan By Amount
Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

Written By
Kirti Bansal
Kirti Bansal
Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

SBI’s 10 Lakh Personal Loan delivers financial empowerment with a seamless application process and competitive interest rates. It is designed for diverse needs such as education, medical expenses, and home improvements, and it ensures swift access to substantial funds. SBI stands out for its transparent terms and flexible repayment options, making it an optimal choice for individuals searching for a reliable and convenient personal loan solution. Whether you’re bridging financial gaps or seizing opportunities, a 10 Lakh SBI Personal Loan provides the support needed to navigate various life scenarios easily.

10 Lakh Personal Loan SBI – Highlights 

The key parameters of a 10 lakh SBI personal loan are as follows. 

                                                                      Highlights
Interest Rates 10.55% p.a. onwards 
Processing Fees 1% of the loan amount plus GST
Loan Tenure 1 to 6 years
Eligibility Either salaried or self-employed individuals are eligible.

10 Lakh Personal Loan EMI for 1- 6 Years 

The estimated SBI 10 lakh personal loan EMI with SBI for varying tenures are as follows:

Loan Amount Interest Rate Loan Tenure EMI Amount Interest Payable
₹10 Lakh 10.55% p.a. One year Rs 88,172 Rs 58,063
₹10 Lakh 10.55% p.a. Two years Rs 46,399 Rs 1,13,581
₹10 Lakh 10.55% p.a. Three years Rs 32,526 Rs 1,70,937
₹10 Lakh 10.55% p.a. Four years Rs 25,628 Rs 2,30,122
₹10 Lakh 10.55% p.a. Five years Rs 21,519 Rs 2,91,121
₹10 Lakh 10.55% p.a. Six years Rs 18,804 Rs 3,53,916

Compare 10 Lakh Personal Loan From Other Banks & NBFCs

The comparison of an SBI personal loan of 10 lakh with other leading banks and NBFCs in India are as follows: 

Lender Interest Rate (p.a.) Processing Fee Tenure
State Bank of India 10.55% onwards 1% of the loan amount 1 to 6 years
IDFC First Bank 10.49% onwards Up to 3.49% of the loan amount 1 to 5 years
Axis Bank 10.49% onwards Up to 2% of the loan amount 1 to 5 years
IndusInd Bank 10.49% onwards Up to 2.5% of the loan amount 1 to 5 years
Federal Bank 10.49% onwards Up to 3% of the loan amount 1 to 5 years
HDFC Bank 10.50% onwards  Up to Rs 4999 1 to 5 years
ICICI Bank 10.50% onwards  Up to 2.50% of the loan amount 1 to 6 years
Kotak Mahindra Bank 10.99% onwards Up to 3% of the loan amount 1 to 5 years
Bajaj Finserv 11.00% onwards Up to 3.93% of the loan amount 1 to 8 years
Punjab National Bank 11.75% onwards 1% of the loan amount 1 to 6 years

10 Lakh SBI Personal Loan – Fees and Charges

Following are the applicable fees and charges for an SBI personal loan of ₹10 lakh :

Fee/Charge Amount
Processing Fee 1% of the loan amount plus applicable taxes
Prepayment Charges 3% on your prepaid amount
Late Payment Charges 2% per annum, above the applicable interest rate.
Cheque/ECS/NACH dishonour Charges Rs 250

10 Lakh SBI Personal Loan – Documents Required 

The essential documents required to avail of a 10 lakh SBI personal loan are listed below:- 

Proof of Identity: PAN Card, Passport, Voter ID or Driving License.

Proof of Address: Aadhaar Card, Passport, Driving License, or Utility Bills.

Proof of Income: Bank statement showing your salary/income credit.

Proof of Employee: Latest salary slips.

10 Lakh SBI Personal Loan – Eligibility Criteria 

To apply for a 10 lakh SBI personal loan, applicants must fulfil the following eligibility criteria are as follows:

  • Age Requirement: You should be between 21 and 58 years old.
  • Income: A regular source of income, with a minimum of Rs 15,000, is required.
  • Creditworthiness: A good credit score and a positive repayment history are essential.
  • Nationality: You must be a citizen of India.
Urban Money

Disclaimer:

The website may provide information about various loan products, insurance products, credit scores & links to other websites or resources over which urbanmoney.com does not have control as such information & links are received from the Banks, NBFCs, Insurance companies & credit rating agencies. Users of this website acknowledge that urbanmoney.com is providing these information & links only as a convenience, and further agree that urbanmoney.com is not responsible for the veracity of such information. Please note that users are advised to independently verify the information & do other requisite due diligence before making any decision and that urbanmoney.com nor its employees, partners, and associated staff are not accountable for any loss, harm, or damage due to usage of information from this website.  And further that user’s use of links to such external websites are subject to the terms of use and privacy policies located on those sites.

© 2024 www.urbanmoney.com. All rights reserved.